SoftBank prepares Japanese mobile IPO to fuel startup strategy
SoftBank Group said on Wednesday that it will begin preparing for an initial public offering of its mobile unit, SoftBank Corp. In a press conference, SoftBank Group’s Chairman and CEO Masayoshi Son said he hopes the unit will be listed within a year. He said the listing will enable the mobile unit to “grow autonomously,” allowing the parent company to focus on becoming a strategic investor in leading startups and innovative companies around the world.
“Mobile unit listing is a step towards SoftBank Group becoming what I call a strategic holding company,” said Son. The listing will streamline the group’s operational structure, which has been made more complex by the string of big investments the parent has made in recent years. “My vision is for SoftBank to create a herd of group companies that are number one either globally or domestically,”
SoftBank Group Corp. is a Japanese multinational telecommunications corporation established on September 3, 1981, and headquartered in Tokyo, Japan. Softbank is the sixth-largest telephone operating company by total revenue $74.7 billion. The company has invested in a lot of startups including Uber.
SoftBank is a multinational telecommunications and internet corporation focused on broadband, fixed-line telecommunications, e-commerce, internet, technology services, finance, media and marketing, and other businesses. The company operates through four major segments.
SoftBank also generates and sells electricity from renewable energy sources; provides payment processing, invoice collections, and computation services for businesses; distributes video, voice, and data content via media; operates IT information site ITmedia; provides solutions and services for online businesses; and operates online games and software downloads. Additionally, it is involved in the ownership of professional baseball team; operation of baseball games; management and maintenance of baseball stadium and other sports facilities; and procurement of funds by issuing preferred securities.
SoftBank was established by Masayoshi Son in September 1981 and is headquartered in Tokyo, Japan.