For the nine months to the end of the December, SoftBank has made a cumulative return of $5.6 billion for its 2018 fiscal year, made up of $3.3 billion from selling its stake in Nvidia, and $2.3 billion selling its shares in Flipkart.
SoftBank said its SoftBank Vision Fund completed the Flipkart exit in August, and sold off its Nvidia stake last month.
With Nvidia, SoftBank had a total investment cost of $2.9 billion made up of $0.7 billion in equity, $0.5 billion in preferred equity, and a $1.7 billion margin loan at August 2017. By the end of August, its equity had risen to $3.3 billion, with the same size of preferred equity and margin loan.
SoftBank pointed out that from Nvidia’s $281 peak share price on September 28 to the end of December 2018, when it sat at $134, its investment valuation had fallen by $4 billion. Through the use of derivatives via a collar transaction, it was able to recover $2.9 billion.
In May, Walmart took control of Flipkart for $16 billion, of which SoftBank had a 20 percent share.
SoftBank said that thanks to the 43.68 percent taxation rate on short-term capital gains in India, it had paid 65 million yen in tax on the Flipkart transaction.
Overall, the SoftBank Vision Fund investment vehicle had valuation gain of 693 billion yen for the nine months to the end of 2018, based on increases in valuations of Uber, WeWork, and Oyo.
Speaking during an earnings briefing on Wednesday, SoftBank Group CEO Masayoshi Son said the Vision Fund had made investments in over 70 companies, most of which were unicorns and focused in some way on artificial intelligence.
In its Arm chip-designing division, adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) was down from 24 billion yen last year to 10 billion yen for the nine months to December 31, this year, mostly due to taking a 176 billion yen hit from selling 51 percent of Arm China to create a joint venture.
Net sales for Arm were down four percent, and technology licence revenue dropped by 28 percent year on year. SoftBank said the drop was due to a delay of new contracts being signed in China during the first half of the year. Once signed, revenue returned to normal.
From its telco holdings, SoftBank Corp reported a 0.6 percent increase in adjusted EBITDA to 986 billion yen for the nine-month period, with sales growing by 4 percent, and US telco Sprint increased its EBITDA by 15 percent to 1 trillion yen for the three quarters to December 31 as sales grew 2.7 percent.
SoftBank said that the new revenue standards which dropped average revenue per user (ARPU) by 96 cents, and the increasing uptake of smartwatches and automotive data devices which have lower ARPU than handsets, has made overall postpaid phone ARPU $50, and postpaid ARPU sit at $43.64.
For the conglomerate in total, SoftBank Group recorded 7.2 trillion yen in net sales, up 5 percent, and a 62 percent boost in operating income to 1.8 trillion yen for the nine months to the end of 2018. Net income for SoftBank Group was 1.57 trillion yen, an increase of 31 percent.
During that time, SoftBank Group reduced its ownership in SoftBank Corp from 99.99 percent to 66.49 percent.
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2024 Genesis GV60 RWD Fixes The EV’s Biggest Problem
The 2024 Genesis GV60 Standard RWD trim has a starting MSRP of $52,000. The GV60 Advanced AWD and GV60 Performance AWD models start at $60,550 and $69,550, respectively. Another issue cited in SlashGear’s review of the 2023 Genesis GV60 was the vehicle’s limited availability in North America, a problem that hasn’t quite been solved. The GV60 Standard RWD and GV60 Advanced AWD are currently available at select retailers in 23 states, while the availability of the GV60 Performance AWD hasn’t yet been announced.
Despite limited availability, the 2024 Genesis GV60 shouldn’t be overlooked when considering a new EV, especially considering its increased range. Other standard features new to the Genesis GV60 include a Wi-Fi hotspot capability, Highway Driving Assist II, and Advanced Forward Collision Avoidance-Assist. Plus, Genesis added more airbags to the 2024 model, as well as a seat belt pretensioner, load limiter, and rear seat belt reminder.
The luxury EV also retains advanced features Genesis had implemented in previous models, including tech that allows drivers to operate their vehicle using fingerprint and/or facial recognition in lieu of a key. Additionally, it uses a glowing crystal ball as its drive shift, which may be the vehicle’s most unique and innovative feature. Anyone interested in purchasing a 2024 Genesis GV60 can visit a local Genesis retailer or the automaker’s website for more details.
The History Of Presidential Aircraft From Roosevelt To Biden
Just as the 20th century dawned, a new age of mankind was dawning. Near the end of 1903, Wilbur and Orville Wright accomplished a previously insurmountable task that would alter the course of humanity for the next century and beyond. On December 17, 1903, the Wright brothers took flight in their flying machine.
The dream to touch the sky was a dream no longer, and it was only a matter of time until the President of the United States grasped the import of the development. Nearly a decade after the Wright brothers took the first flight in human history, former President Theodore Roosevelt became the first President to ever fly.
At the time, Roosevelt had been out of office for over a year. At a county fair in St. Louis, Missouri in 1910, President Roosevelt was flown over the crowd. Although a rather inconspicuous occasion, this would be the historic first for presidential air travel. The brief trip was made in a Wright Flyer by Archibald Hoxsey, who himself worked for the Wright Brothers. The Wright Flyer is the comparatively primitive airplane the Wright Brothers designed to enable air travel. The first airplane was born of the Wright Brothers’ experimentation with gliders, which ultimately led them to attach a propulsion system.
After President Roosevelt’s flight, presidential aviation didn’t really pick up any momentum for over two decades. Although Theodore Roosevelt was the first president to ever take to the sky, it would be his distant cousin, Franklin Delano Roosevelt, who would be in office for the birth of presidential air travel as we know it today.
Nintendo Announces End Of Online Service For 3DS And Wii U Following eShop Shutdown
Nintendo 3DS and Wii U gamers will still be able to play offline games on their devices. Users will also be able to download update data and any software or DLC already purchased from the Nintendo eShop. However, it’s important to note that you cannot simply go and purchase the games you missed out on before the shutdown, as the online store ceased operations in March of this year.
A few services will remain functional after Nintendo completes its general online shutdown. StreetPass, the application that lets users communicate directly between devices, will remain available since it utilizes a local connection.
Additionally, the “Pokemon Bank” and “Poke Transporter” applications will retain their online functionalities. “Pokemon Bank,” made free earlier this year, allows users to store up to 3,000 Pokemon in an online bank. “Poke transporter” is a companion application to “Pokemon Bank” that allows users to transfer Pokemon from Gen 5 games and the Virtual Console versions of Gen 1 and 2 to their online inventory.
Although Nintendo is keeping these applications functional for now, it stated that they “may also end at some point in the future.” Many “Pokemon” fans are urging others to transfer their pocket monsters to the Switch’s “Pokemon Home” before it is too late.
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