07 February 2018
| James Pearce
Japanese technology giant SoftBank has set out plans to list its domestic telecoms arm later this year, according to a report from Reuters.
Masayoshi Son, chief executive of SoftBank Group, told
reporters that he hopes to list shares of its core Japanese
telecoms business which will help "strengthen our financial
balance" and be used to drive growth in the wider technology
The Japanese telco is a key source of profits for SoftBank,
making up a third of its revenue but two-thirds of overall
profit, but Son has recently set out to transform the company
into a major technology player.
Reports last month claimed Son would look to generate around
$18 billion by offloading up to 30% in the Japanese operator in
what would be one of the largest IPOs ever in Japan.
SoftBank, formed of Japan Telecom and Vodafone Japan,
competes in the Japanese market with NTT DoCoMo and KDDI. The
group – but not the local Japanese mobile subsidiary
– owns the UK chip company ARM and the stake in US
mobile operator Sprint.
Son 's transformation of SoftBank has seen the company set
up its global BVision Fund, the world’s largest
private equity firm, which has invested more than $9 billion
into startups in the last two years, according to data from
Thomson Reuters. The fund has raised over $93 billion from
backers including the likes of Apple and the state of Saudia
"This group strategy is something I had in mind since the
very start," Son added. "I set out to make a conglomeration of
No. 1 companies. That’s easy to say, but difficult
to do. I can’t think of anyone else who has done