Society

SoftBank aims to raise $22bn from mobile unit IPO

Jul 10 (Nikkei) - SoftBank Group has filed for the listing of its mobile service unit SoftBank Corp., in an apparent bid to raise about 2.5 trillion yen ($22.6 billion) from the stock debut.

The parent said Monday that a preliminary application has been submitted to the Tokyo Stock Exchange. The group's core telecom business is expected to debut on the bourse's first section as early as this year. Owning almost all of the unit, SoftBank Group appears to be aiming to sell more than 30% of the shares in the initial public offering.

This could be the largest-ever IPO in Japan, surpassing the 1987 debut of Nippon Telegraph and Telephone, which raised around 2.33 trillion yen, if investor demand is strong.

The market capitalization of the mobile service company is estimated at around 7 trillion to 8 trillion yen, similar in scale to its main rivals -- NTT Docomo and KDDI -- which have have market capitalizations of 10.7 trillion yen and 7.8 trillion yen.

SoftBank Group generated around 1.3 trillion yen in operating profit in the year ended March. The domestic telecom business accounted for 680 billion yen of the total, with an annual cash flow in the 500-billion-yen range.

Typhoon No. 24 (Fung-shen) Moves Toward Vietnam, Heavy Rain Forecast For Japan

Typhoon No. 24 (Fung-shen) is strengthening over the South China Sea and is expected to make landfall in Vietnam later this week, according to forecasts. Satellite images on October 20th show extensive cloud coverage over the central South China Sea. After passing over the Philippines, Fung-shen temporarily weakened but is projected to intensify again as it continues westward through Tuesday.

Real-Life Water Police: Protecting Tokyo’s Seas and Rivers

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Tourist Graffiti Threatens Kyoto’s Iconic Bamboo Forest

Kyoto’s world-famous Arashiyama district, a popular destination for both domestic and international tourists, is facing a growing problem of graffiti etched into the bamboo along its iconic “Bamboo Grove Path,” with more than 350 stalks now damaged — a practice that experts warn could eventually cause bamboo to weaken, fall, and even injure visitors.

Japanese Streaming Services Struggle Against Netflix

Japan’s streaming industry is under growing pressure as foreign giants tighten their grip on the domestic market, with Netflix’s latest move to secure exclusive broadcast rights in Japan for every game of the World Baseball Classic next March highlighting the widening gap.

Japan Tightens Rules on Foreign Business Visas

Investigators from the Immigration Services Agency conducted on-site inspections in Osaka on October 14th amid a surge in so-called 'paper companies' created by foreign nationals seeking residency.

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