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4-Traders Homepage  >  Equities  >  Tokyo  >  SoftBank Group Corp    9984   JP3436100006

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SoftBank : Plans $4.5 Billion Investment in South Korean Tech Sector

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09/30/2016 | 02:35pm CEST

SoftBank Group Corp. Chief Executive Masayoshi Son on Friday said he intends to invest around five trillion won ($4.5 billion) in South Korea's technology sector over the next decade.

A SoftBank spokesman said that during a meeting with South Korean President Park Geun-hye in Seoul, the founder of the Japanese telecommunications and internet conglomerate said he intended to invest in fields including smart robots, the "Internet of Things" and artificial intelligence, areas Mr. Son has said would be a focus for his company over the next 30 years.

It isn't the first time Mr. Son has shown interest in the South Korean tech sector. Last year SoftBank invested $1 billion in South Korea's largest mobile-commerce company, Coupang, which the companies said was the largest-ever internet investment in South Korea.

Friday's meeting comes after SoftBank closed earlier this month its $32 billion deal to acquire U.K. chip maker ARM Holdings PLC in the largest acquisition of a European technology company.

Mr. Son has depicted the acquisition of ARM, which designs microprocessors that power more than 95% of the world's smartphones, as part of a broader strategy to build artificial-intelligence functions into the kinds of devices that carry ARM-designed chips.

Mr. Son's vision in these areas has already been in motion for several years. In 2014, he introduced a humanlike robot named Pepper that he said could sense human feelings.

Mr. Son also met Lee Jae-yong, vice chairman of Samsung Electronics Co. on Thursday to discuss the semiconductor industry and "Internet of Things" technology.

Write to Alexander Martin at alexander.martin@wsj.com

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Financials ( JPY)
Sales 2017 8 922 264 M
EBIT 2017 1 159 455 M
Net income 2017 696 428 M
Debt 2017 10 475 327 M
Yield 2017 0,68%
P/E ratio 2017 7,58
P/E ratio 2018 10,65
EV / Sales 2017 2,05x
EV / Sales 2018 1,88x
Capitalization 7 830 707 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 7 883  JPY
Spread / Average Target 21%
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Masayoshi Son President & Representative Director
Yoshimitsu Goto Managing Executive Officer & Manager-Finance
Tadashi Yanai Independent Director
Ken Miyauchi Representative Director & Vice President
Yun Ma Director
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