|Bid||5,140.00 x 0|
|Ask||5,160.00 x 0|
|Day's Range||5,080.00 - 5,390.00|
|52 Week Range||3,011.54 - 5,590.00|
|Beta (5Y Monthly)||0.48|
|PE Ratio (TTM)||23.58|
|Earnings Date||Oct 25, 2021 - Oct 29, 2021|
|Forward Dividend & Yield||81.00 (1.51%)|
|Ex-Dividend Date||Mar 30, 2022|
|1y Target Est||2,016.70|
(Bloomberg) -- Masayoshi Son isn’t letting go of the reins at SoftBank Group Corp. anytime soon, even as the founder tells shareholders he’s taking the issue of his succession seriously.Son, who has often indicated he plans to find his replacement in his 60s, may stay on as the chairman into his 70s, the billionaire told shareholders during their annual meeting Wednesday. Son may relinquish the chief executive officer title and hopes to have an idea of who his successor will be at around 69. For
(Bloomberg) -- SoftBank Group Corp. director Yuko Kawamoto plans to resign from the company’s board in June, removing an outspoken board member who has clashed with controversial founder Masayoshi Son over governance issues.Kawamoto, a professor at Waseda University, will step down on June 23 after just one year in the role, SoftBank said in a statement on Friday. She was the first woman to ever serve on the board and its only female member, although another one has been nominated.In an unusual move, Kawamoto penned a long message about her time at SoftBank, posted on the company’s website. While she praised Son for his decision making, speed and willingness to change his mind, she also said the company needs more internal checks, better governance and more people who can stand up to Son.“SBG needs to formulate a form of governance that allows Masa to fully demonstrate his talents, which can then be integrated into shareholders’ value,” she wrote. “This does not imply restrictions or constraints but rather an oversight function that allows the organization to reach its full potential.”SoftBank’s biggest challenge is coming up with a succession plan for its founder, Kawamoto said. She said she is stepping down after one year because of her appointment as a commissioner of the National Personnel Authority.Also departing from the board in June are Son’s long-term lieutenant Ronald Fisher and Arm Ltd.’s Simon Segars. Z Holdings Corp.’s co-Chief Executive Officer Kentaro Kawabe, Koei Tecmo Holdings Co.’s Chairman Keiko Erikawa and Kenneth Siegel of Morrison & Foerster will take their seats after shareholders approve the appointments at a general meeting.SoftBank’s board has lost several of its most independent voices in recent years, the kind of directors who could push back on Son’s decisions. Shigenobu Nagamori, the outspoken founder of motor maker Nidec Corp., stepped down in 2017. Fast Retailing Co. CEO Tadashi Yanai, who had been on the board since 2001 and was a rare voice of dissent, left at the end of 2019. Alibaba Group Holding Ltd. co-founder Jack Ma left last June, after 13 years on the job.SoftBank has been buffeted by a series of missteps over the past year, including a botched investment in WeWork and a risky foray into derivatives trading. Kawamoto flagged that SoftBank often races so quickly to execute Son’s ideas that the infrastructure isn’t always in place to handle them.“Sometimes, therefore, rules come after the decisions are made, and some might say the company has some weakness in that regard,” she wrote.One area where Kawamoto had a particularly sharp disagreement with Son was over his personal stake in a subsidiary overseeing SoftBank’s controversial options trading program, according to people familiar with the matter, who asked not to be named because the details are private. Her opposition came as a surprise to Son and the clashes often left him fuming, one of the people said.Son’s 33% personal stake in the entity known as SB Northstar has also drawn fire from investors who pointed to the structure as a corporate governance concern. On a call with investors and analysts after the earnings announcement in November, Son denied there was a conflict of interest and described it as remuneration for his investment expertise. Other fund managers charge fees, he said. Son added that SoftBank’s board cleared the structure in a vote from which he recused himself.Son’s Personal Stake in SoftBank Trading Unit Draws Fire“The fact that SoftBank published this is quite telling,” said Justin Tang, head of Asian research at United First Partners in Singapore, referring to Kawamoto’s letter. “It’s not exactly a dictatorship operating there.”Still, Kawamoto complimented Son and said the company is improving.“In part because I remained vocal at Board meetings over this past year, I believe an atmosphere has been fostered where discussions can be held more frankly,” Kawamoto said. “Masa is an extremely exciting individual who often lights up the spirit of those around him. In fact, it is his inspiration that gave me the courage to take on a new challenge and accept a difficult role in service of the country.”(Updates with details of Kawamoto’s conflict with Son in 10th paragraph)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- The company behind the popular Final Fantasy series of games surged in Tokyo on Friday following a report it had received interest from potential buyers.Square Enix Holdings Co. rose 12% on Friday, the most in eight months, after the report from deal news website CTFN which cited two unidentified bankers. Square Enix said it had not received any proposals and wasn’t thinking of a sale.“We do not consider selling off the company or any part of its businesses, nor have we received any offer from any third party to acquire the company or any part of its businesses,” the company said in a statement.Shares in Square Enix are trading near the all-time high set last year, giving it a market value of 845 billion yen ($7.8 billion). As well as Final Fantasy, it publishes the Dragon Quest and Kingdom Hearts role-playing series, and owns the Tomb Raider franchise.“With intellectual property that has remained popular for years and years, Square Enix does have strong branding power,” said Shoichi Arisawa, an analyst at Iwai Cosmo Securities Co.Amid increasing competition for the biggest exclusive properties and a surge in revenue as a result of the pandemic, M&A activity in the videogame sector has been growing. 2020 saw almost $25 billion in deals, according to data compiled by Bloomberg. The bulk of that was made up by Microsoft Corp.’s $7.5 billion acquisition of the owner of Bethesda Softworks, the maker of The Elder Scrolls, Doom and Fallout series. Electronic Arts Inc. topped a rival offer from Take-Two Interactive Software Inc. to buy racing game maker Codemasters Group Holdings Plc for $1.2 billion.“M&A will remain robust after record deal volume -- both number of deals and dollar value -- in 2020, with multiple game makers having cash-rich balance sheets,” said Bloomberg Intelligence analyst Matthew Kanterman, “but they will probably target smaller, private developers as opposed to large listed ones.”It’s far from the first time that the Final Fantasy maker was a possible acquisition target. Before its merger with Enix, Microsoft had intended to acquire Square in 1999, but the deal was rejected for being too low.The report also boosted some other gaming stocks in Tokyo, with Koei Tecmo Holdings Co. rising as much as 2.9%.(Updates with comment from Square Enix from second paragaph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.