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<\/span><\/figcaption><\/figure>
By Sam Nussey
<\/strong>
TOKYO: SoftBank<\/a> Group Corp is accelerating asset sales after its flagship Vision Fund<\/a> unit booked nearly $50 billion in losses in just six months, but Chief Executive Masayoshi Son faces narrowing options and slumping valuations, analysts said.

Son said on Monday that he is in discussions to sell asset manager Fortress<\/a>, without commenting on a valuation. SoftBank also raised $2.4 billion selling shares in T-Mobile US during the latest quarter, while unloading a variety of other holdings.

But as valuations fall, easy options for raising cash are getting harder to come by.

With SoftBank having shifted focus from operating companies to tech investing<\/a>, and Son staking his reputation on generating big returns that can be recycled into further tech bets, the billionaire will be keen to avoid selling Vision Fund assets at a loss, analysts said.

\"Most of the portfolio is underwater, making the case to sell harder to justify,\" Redex Research analyst Kirk Boodry wrote in a note. He pointed to e-commerce firm Coupang and food delivery firm DoorDash as potential candidates.

Vision Fund exited a swathe of assets in the April-June quarter - including ridehailer Uber Technologies and property platforms Opendoor Technologies and KE Holdings, which operates China's Beike - for a realised gain of $5.6 billion.

SoftBank sold the final tranche of Uber shares at a loss, Boodry calculates, and generated a total return of just $1.5 billion on the stake. Son backed the firm with an eye on autonomous driving, with SoftBank becoming the largest shareholder, but Uber abandoned its efforts to develop a self-driving car.

\"SBG (SoftBank Group) is willing to monetise any asset at a reasonable price,\" Jefferies analyst Atul Goyal wrote in a note.

\"It is a good sign for SBG shareholders, though it does not bode well for ... investee companies\".

Son has sold assets in past downturns to raise cash, including the early days of the COVID-19 pandemic during which he said startups had fallen into the \"valley of the coronavirus\".

SoftBank agreed to sell chip designer Arm to Nvidia in 2020 but the deal later stumbled over regulatory hurdles. Son still hopes to list Arm in the United States.

The Japanese conglomerate has also cashed in on its large and liquid stake in e-commerce firm Alibaba to raise funds.

Times have changed, however, with the downturn in valuations.

While SoftBank raised $17.3 billion in the last few months on its Alibaba holdings through prepaid forward contracts, the Chinese firm has lost more than two-thirds of its value from highs in late 2020.

Son has also pledged to \"play defence\" and on Monday laid out a further scaling back of investing activity and cost cutting across the group.

Some analysts say private asset prices may have further to fall, potentially raising the bar for efforts to generate returns, and Son said SoftBank had been in a bubble in valuations.

\"(The) private book is still far more inflated than public listed assets are and hence the real downside could still be material,\" Jefferies analyst Goyal wrote.

While reshaping its portfolio, SoftBank has also announced a 400 billion yen ($2.97 billion) buyback of its own shares, in addition to an existing 1 trillion yen repurchase programme that is 70% complete and due to expire in November.

\"It's possible the structure of the company will be reviewed, including through a management buyout, in the not too distant future,\" SMBC Nikko Securities analyst Satoru Kikuchi wrote in a note.

($1 = 134.8500 yen)


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软银步骤从沉没资产出售投资组合

软银有重点从运营公司转向科技投资,和儿子把他的声誉产生大的回报,可以回收到进一步的科技投资,亿万富翁将希望避免销售愿景基金资产损失,分析师表示。

  • 2022年8月9日更新04:48点是

由山姆Nussey
东京:软银集团公司正在加速旗舰后出售资产视觉基金单位预定在仅仅六个月近500亿美元的亏损,但首席执行长孙正义面临缩小选项和低迷的估值,分析师表示。

儿子周一表示,他是在讨论出售资产管理堡垒,没有评论估价。软银也筹集了24亿美元出售股票在t - mobile美国在最近一个季度,而卸载各种各样的其他资产。

但随着估值的下降,容易选择筹集资金越来越难赚了。

软银有转移注意力从运营公司科技投资,儿子把他的声誉产生大的回报可以回收到进一步的科技投资,亿万富翁将希望避免销售愿景基金资产损失,分析师表示。

广告
“大多数的水下组合,使得销售难以证明,“Redex柯克Boodry研究分析师在一份报告中写道。他指出,电子商务公司Coupang和食品外卖公司DoorDash作为潜在的候选人。

视觉基金退出4 - 6月季度的资产——包括ridehailer超级技术和财产平台Opendoor技术和KE控股经营中国的北科——意识到获得的56亿美元。

软银在最后一批超级股票亏本出售,Boodry计算,生成的总回报15亿美元的股份。儿子支持该公司着眼于自主驾驶,软银成为最大股东,但超级放弃了努力开发无人驾驶汽车。

“小企业(软银)愿意货币化任何资产在一个合理的价格,”Jefferies分析师Atul Goyal在一份报告中写道。

为小企业股东“这是一个好的迹象,尽管它并不预示着……投资企业”。

儿子已售出资产在过去的衰退中,以筹集现金,包括早期的COVID-19大流行期间,他说公司已经落入了冠状病毒的“硅谷”。

软银同意出售芯片设计部门在2020年英伟达但交易后发现的监管障碍。儿子在美国仍希望列出的手臂。

日本企业集团也已兑现其庞大的电子商务公司阿里巴巴和液体的股份来筹集资金。

广告
时代变了,然而,随着经济衰退的估值。

而软银筹集了173亿美元在过去的几个月里通过预付远期合约对其持有的阿里巴巴,中国公司已经失去了超过三分之二的价值在2020年底从高点。

儿子还承诺“防守”和周一提出进一步缩减投资活动和削减成本。

一些分析人士说,私人资产价格还会继续下跌,可能会提高酒吧的努力产生回报,和儿子说软银在估值泡沫。

”(的)私人书仍远比上市资产膨胀,因此真正的缺点仍有可能材料,”Jefferies分析师Goyal写道。

而改变其投资组合,软银也宣布了一项4000亿日元(29.7亿美元)回购自己的股票,除了现有的1万亿日圆回购计划完成70%,11月到期。

“这是可能的公司将被审查的结构,包括通过管理层收购,在不久的将来,“SMBC Satoru Kikuchi日兴证券分析师在一份报告中写道。

(1美元= 134.8500日元)


  • 发布于2022年8月9日下午04:44坚持
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\"\"
<\/span><\/figcaption><\/figure>
By Sam Nussey
<\/strong>
TOKYO: SoftBank<\/a> Group Corp is accelerating asset sales after its flagship Vision Fund<\/a> unit booked nearly $50 billion in losses in just six months, but Chief Executive Masayoshi Son faces narrowing options and slumping valuations, analysts said.

Son said on Monday that he is in discussions to sell asset manager Fortress<\/a>, without commenting on a valuation. SoftBank also raised $2.4 billion selling shares in T-Mobile US during the latest quarter, while unloading a variety of other holdings.

But as valuations fall, easy options for raising cash are getting harder to come by.

With SoftBank having shifted focus from operating companies to tech investing<\/a>, and Son staking his reputation on generating big returns that can be recycled into further tech bets, the billionaire will be keen to avoid selling Vision Fund assets at a loss, analysts said.

\"Most of the portfolio is underwater, making the case to sell harder to justify,\" Redex Research analyst Kirk Boodry wrote in a note. He pointed to e-commerce firm Coupang and food delivery firm DoorDash as potential candidates.

Vision Fund exited a swathe of assets in the April-June quarter - including ridehailer Uber Technologies and property platforms Opendoor Technologies and KE Holdings, which operates China's Beike - for a realised gain of $5.6 billion.

SoftBank sold the final tranche of Uber shares at a loss, Boodry calculates, and generated a total return of just $1.5 billion on the stake. Son backed the firm with an eye on autonomous driving, with SoftBank becoming the largest shareholder, but Uber abandoned its efforts to develop a self-driving car.

\"SBG (SoftBank Group) is willing to monetise any asset at a reasonable price,\" Jefferies analyst Atul Goyal wrote in a note.

\"It is a good sign for SBG shareholders, though it does not bode well for ... investee companies\".

Son has sold assets in past downturns to raise cash, including the early days of the COVID-19 pandemic during which he said startups had fallen into the \"valley of the coronavirus\".

SoftBank agreed to sell chip designer Arm to Nvidia in 2020 but the deal later stumbled over regulatory hurdles. Son still hopes to list Arm in the United States.

The Japanese conglomerate has also cashed in on its large and liquid stake in e-commerce firm Alibaba to raise funds.

Times have changed, however, with the downturn in valuations.

While SoftBank raised $17.3 billion in the last few months on its Alibaba holdings through prepaid forward contracts, the Chinese firm has lost more than two-thirds of its value from highs in late 2020.

Son has also pledged to \"play defence\" and on Monday laid out a further scaling back of investing activity and cost cutting across the group.

Some analysts say private asset prices may have further to fall, potentially raising the bar for efforts to generate returns, and Son said SoftBank had been in a bubble in valuations.

\"(The) private book is still far more inflated than public listed assets are and hence the real downside could still be material,\" Jefferies analyst Goyal wrote.

While reshaping its portfolio, SoftBank has also announced a 400 billion yen ($2.97 billion) buyback of its own shares, in addition to an existing 1 trillion yen repurchase programme that is 70% complete and due to expire in November.

\"It's possible the structure of the company will be reviewed, including through a management buyout, in the not too distant future,\" SMBC Nikko Securities analyst Satoru Kikuchi wrote in a note.

($1 = 134.8500 yen)


<\/body>","next_sibling":[{"msid":93455027,"title":"Biden to sign bill to boost U.S. chips, compete with China","entity_type":"ARTICLE","link":"\/news\/biden-to-sign-bill-to-boost-u-s-chips-compete-with-china\/93455027","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":93455146,"entity_type":"ARTICLE","title":"SoftBank steps up asset sales from sinking portfolio","synopsis":"With SoftBank having shifted focus from operating companies to tech investing, and Son staking his reputation on generating big returns that can be recycled into further tech bets, the billionaire will be keen to avoid selling Vision Fund assets at a loss, analysts said.","titleseo":"telecomnews\/softbank-steps-up-asset-sales-from-sinking-portfolio","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"Reuters","artdate":"2022-08-09 16:44:00","lastupd":"2022-08-09 16:48:30","breadcrumbTags":["softbank","industry","softbank asset sales","fortress","t mobile","tech investing","softbank news","softbank portfolio","vision fund"],"secinfo":{"seolocation":"telecomnews\/softbank-steps-up-asset-sales-from-sinking-portfolio"}}" data-news_link="//www.iser-br.com/news/softbank-steps-up-asset-sales-from-sinking-portfolio/93455146">