Japanese telecom giant SoftBank Group says it will supply 300 million face masks per month for Japan in a bid to ease the shortage.
SoftBank Group says under a deal with Chinese firm BYD, it will supply 200 million regular surgical masks and 100 million advanced masks called N95 respirator per month starting from May.
SoftBank Group is selling assets worth up to 4.5 trillion yen, or about 41 billion dollars. The Japanese IT giant will use the money to buy back its shares and reduce debt over the next 12 months.
Chairman and CEO Masayoshi Son says the move will strengthen the firm's balance sheet while significantly reducing debt. The coronavirus pandemic caused the group's share price to fall by half in the past month.
Japanese investigators say an arrested former employee of Tokyo-based telecommunications giant SoftBank Corporation admitted he received personal benefits from a Russian official.
Forty-eight-year-old Yutaka Araki allegedly accessed the company's confidential information on a corporate server in February last year. He was arrested on Saturday on suspicion of violating a law aimed at preventing unfair competition.
A former employee of Tokyo-based telecommunications giant SoftBank Corporation has been arrested on suspicion of hacking the company's confidential information.
Forty-eight-year-old Yutaka Araki was arrested by Tokyo police on Saturday. He is suspected of violating a law on preventing unfair competition.
SAN FRANCISCO — Uber's autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group, giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public stock offering. Uber Technologies said on Thursday that the investment valued its Advanced Technologies Group, which works to develop autonomous driving technology, at $7.25 billion. SoftBank will invest $333 million from its $100 billion Vision Fund, while Toyota and automotive supplier Denso Corp will combined invest $667 million. Reuters had reported in March talks of the investment in ATG, which has locations in Pittsburgh, San Francisco and Toronto. The funding allows Uber to transfer some of the substantial cost of developing self-driving cars onto outside investors. That is likely to appease some investor concerns over Uber's spending on the autonomous unit, which has topped $1 billion since the program started in 2016. The business unit brings in no meaningful revenue for Uber, which last year lost $3.03 billion. The company is not even offering free rides in the robot cars to passengers, like some of its rivals are, following a fatal crash last year in Arizona involving an Uber self-driving SUV. Uber released its IPO filing this month and is preparing to launch is "roadshow," when it will pitch its company prospective investors, the week of April 29, setting up for an early May debut on the New York Stock Exchange. Uber is expected to raise $10 billion at a $90 billion to $100 billion valuation, at least an 18 percent jump from its current $76 billion valuation. As part of the deal, ATG becomes its own legal entity but remains under the control of Uber with its financial performance folded into Uber's. A new ATG board will be formed, with six seats from Uber, one from SoftBank and one from Toyota. Eric Meyhofer, currently the head of ATG, will take the title of CEO and report to the new board. Such sizable deals are unusual for companies so close to an IPO, because bringing in large new investors changes the company's capital structure. The deal, however, will almost certainly require approval from the inter-agency regulatory group called the Committee on Foreign Investment in the United States (CFIUS). A law enacted last year expands that group's powers to review minority stakes by foreign investors in startups with certain sensitive technologies, and self-driving technology is widely considered to have defense applications. SoftBank's investment in General Motors' self-driving car unit Cruise is still under CFIUS review and is likely weeks away from a decision, even though that investment was announced more than a year ago.
Hokkaido dog Kai-kun, known for his role as 'Otousan' in the Softbank CMs, passed away on June 28 due to old age. He was 16 years old.
In an announcement titled, "To the first Otousan, Kaikun, with thanks," Softbank's official website stated, "On the dawn of June 28, 2018, Hokkaido dog Kai-kun, who had starred in our TV CMs as the first Otousan of the Shirato Family since 2007, has gone to heaven due to old age. He was 16 years old."