Softbank: to invest several pct of $37 bln revenue in solar power
May 25 (Reuters) - Softbank Corp , Japan's third-largest mobile phone operator, said on Wednesday it plans to invest several percent of sales revenue in solar power.
"Our main business is telecommunications and there will be no change to that. But I think we can invest a few percent of our more than 3 trillion yen ($36.6 billion) sales revenue on renewable energy, as a way of contributing to society," company president Masayoshi Son told a news conference.
The company said earlier it would help to build about a dozen large solar power plants across the country in a bid to revive a battered home market for renewable energy.
The government confirmed a target on Wednesday for users in some areas to reduce electricity use by 15 percent to avoid power blackouts in the peak summer demand period as utilities struggle to make up for generating capacity knocked out by the March 11 earthquake and tsunami.
The target applies from July 1 to areas covered by Tokyo Electric Power Co , known as Tepco, which serves the capital and surrounding region, and Tohoku Electric Power Co , serving the devastated northeast region.
Chief Cabinet Secretary Yukio Edano told a news conference the target will be in place until Sept. 22 for areas served by Tepco and until Sept. 9 for those covered by Tohoku Electric. It will apply between 9 a.m. and 8 p.m. on weekdays. ($1 = 81.920 Japanese Yen) (Reporting by Isabel Reynolds; Editing by Michael Watson)
Softbank: to invest several pct of $37 bln revenue in solar power | Reuters http://reut.rs/lTStNh
Well quick comment on this, Masayoshi Son, a president (OR CEO) of Softbank Group (yahoo japan's parrents parents company as well)
He has criticised the management of the Nuclear incidents, now one step further.
I have observed his business for a long time. it is very interesting.
- Softbank used to have a very close relationships with big financial companies such as Goldman Sachs during internet babble, but it looks like Softbank has managed to avoid from these financial contamination, the softbank itself became a telecommunication company (land line and mobile operation) this is far more (conservative) traditional business
- Softbank also managed to avoid the exposure of a media business (apart from Internet based yahoo) 1996 Once Rupert Murdoch's News Corporation attempted to buy a Japanese TV company (TV Asahi) with Softbank. (see the below) As far as I know this did not materialise.
The point I would like to make is that Mr MasayoshiSon (Softbank) has managed to keep their "independence" (you know I mean) to do what Mr Son want.
(see the below, Foreign "investors" has been massively increased)
I have started to see some organised attack towards Mr Son (since his comments against nuclear policy in Japan, it appear to be a part of cointelpro business as they are so typical and identical movements (used by exactly same scripts to same targets)
|Name||Number of Shares Held (Thousands)||Percentage of Total Shares Issued (%)|
|Japan Trustee Services Bank, Ltd.||92,788||8.57|
|JP Morgan Chase Bank 380055||52,395||4.84|
|The Master Trust Bank of Japan, Ltd.||50,590||4.67|
|State Street Bank and Trust Company||39,442||3.64|
|Trust & Custody Services Bank, Ltd.||18,501||1.71|
|THE CHASE MANHATTAN BANK 385036||15,682||1.45|
|SIX SIS LTD.||14,064||1.30|
|SSBT OD05 OMNIBUS ACCOUNT - TREATY CLIENTS||13,569||1.25|
|State Street Bank and Trust Company 505225||9,258||0.86|
|Top 10 Shareholders||537,907||49.69|
- *The above table includes shares held as part of trust operations as follows:
- Japan Trustee Services Bank, Ltd. 92,788 thousand shares
- The Master Trust Bank of Japan, Ltd. 50,590 thousand shares
- Trust & Custody Services Bank, Ltd. 18,501 thousand shares
Distribution of ownership
|Mar. 2008||Mar. 2009||Mar. 2010||Sept. 2010|
|Individuals and others||60.15||49.85||44.34||42.35|
|Foreign institutions and individuals||19.69||23.30||29.32||35.69|
|Financial instruments firm||2.65||1.78||2.92||1.18|
|Government and public bodies||0.00||0.06||0.06||0.06|
- *Treasury stock is included in “Individuals and others.”
INTERNATIONAL BRIEFS;Murdoch, With Softbank, To Buy Into TV Asahi - New York Times http://nyti.ms/kBIwbl