|Bid||8,578.00 x 0|
|Ask||8,578.00 x 0|
|Day's Range||8,561.00 - 8,753.00|
|52 Week Range||2,609.50 - 9,039.00|
|Beta (5Y Monthly)||1.21|
|PE Ratio (TTM)||38.06|
|Forward Dividend & Yield||44.00 (0.50%)|
|Ex-Dividend Date||Sep. 29, 2020|
|1y Target Est||N/A|
SoftBank Corp, Japan's third-largest telco, said on Tuesday Chief Technology Officer Junichi Miyakawa would become its chief executive officer, effective April 1. The change at the top of one of SoftBank Group Corp's largest assets comes after two years of deliberation, with the telco emphasising the need to "pass on the strengths of its current management system to future generations." The rotation is likely to lead to speculation over SoftBank Group CEO Masayoshi Son's own succession plans.
(Bloomberg) -- Didi Chuxing Technology Co. is close to finalizing a $1.5 billion round of funding for its on-demand trucking unit from investors including Temasek Holdings Pte, surpassing its fundraising target as investors count on a Chinese economic recovery to fuel shipping.Jack Ma’s Yunfeng Capital and IDG Capital will join the financing for Didi Freight, an Uber-like trucking service, a person with knowledge of the matter said. Other investors in the unit’s debut round include the investment arm of real estate giant Country Garden Holdings Co., a unit of CITIC and Hidden Hill Capital, the person said, asking not to be identified discussing a private deal. The total amount exceeded its target of about $400 million by several-fold.China’s economy roared back to pre-pandemic growth rates in the fourth quarter after its industrial engines fired up to meet surging demand for exports. That boom is straining a domestic logistics network already taxed by a post-Covid 19 resurgence in e-commerce. Startups like Full Truck Alliance -- backed by SoftBank Group Corp. -- and tech giants such as Alibaba Group Holding Ltd. are now introducing technology to try and streamline the shipping process, connecting merchants with truckers and delivery firms.Read more: Didi’s Logistics Arm Was Said to Seek $400 Million in Debut FundingDidi first launched its on-demand logistics service in Chengdu and Hangzhou in June and has since expanded to eight cities, handling more than 100,000 orders daily on average. Backed by Tencent Holdings Ltd. and SoftBank, the Chinese startup is taking on larger rivals including Full Truck Alliance -- known by its Chinese name Manbang -- and Huolala in an already crowded market. Huolala raised $515 million from investors including Sequoia and Hillhouse. Full Truck Alliance raised $1.7 billion from investors including SoftBank and Tencent about a month before that.Didi Freight represents one of the key growth initiatives for a ride-hailing giant seeking to diversify from its traditional business. Didi is also ramping up its autonomous driving unit as well as robo-taxi service. A company representative had no immediate comment on the latest fundraising in an email.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.
(Bloomberg) -- Masayoshi Son is stepping down as chairman of SoftBank Corp., completing a transition of leadership at the domestic telecommunication unit that had been at the center of his technology empire.Ken Miyauchi, who has been chief executive officer, will move into the chairman’s role in Son’s place, while Junichi Miyakawa takes over as CEO, the company said in a statement. Son spun the wireless business out of his SoftBank Group Corp. in 2018 and has sold his stake down to about 40%, according to data compiled by Bloomberg.Telecom services had long been the cornerstone of Son’s conglomerate, but he has been shifting his attention to financial investments. His $100 billion Vision Fund has taken stakes in scores of startups, with many going public in the surging stock market.Miyauchi joined SoftBank in 1984, just three years after it was created. One of Son’s longest-serving lieutenants, he helped the founder grow the business from a distributor of personal computer software into a telecommunications conglomerate.Miyauchi, 71, took charge of the domestic operations when the unit went public and helped engineer the merger of SoftBank’s Yahoo Japan internet business with messaging giant Line Corp.Miyakawa joined the SoftBank group in 2003 and has since served in a number of technical positions at its broadband operation, the Japan wireless operation and Sprint Corp. The 55-year-old most recently held the role of chief technology officer at SoftBank Corp.SoftBank Corp. shares have gained about 4% this year and closed little changed Tuesday.(Updates with Miyakawa’s background in penultimate paragraph)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.