Japanese telco SoftBank Corp said on Wednesday it would spend $4 billion to up i...
TOKYO - Japanese telco SoftBank Corp said on Wednesday it would spend $4 billion to up its stake in Yahoo Japan Corp and turn the internet company into a subsidiary, a move that would help boost its profit by 24 percent this year.
With that addition, SoftBank Corp, which listed in December in Japan’s largest-ever initial public offering, forecast its operating profit would rise to 890 billion yen in the current financial year through March 2020. The deal will strengthen cooperation between SoftBank Corp, Japan’s third-largest telco, and Yahoo Japan, an internet heavyweight in areas such as news and shopping.
Some analysts see the telco as well positioned to weather the price squeeze as it targets data-heavy smartphone users with premium-priced plans while offering low-cost options for thrifty customers under separate branding.
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