DOCSLIB.ORG

The Next Wave

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

Annual Report 2006 >> The Next Wave www.softbank.co.jp CONTENTS Corporate Profile .................................................... 01 Consolidated Financial Highlights ............................ 02 Snapshot of the SOFTBANK Group— Growth Foundation and Strategies .......................... 04 To Our Stakeholders................................................ 06 Maintaining a High Rate of Growth while Bolstering Our Financial Position .................... 11 [To Our Stakeholders] Appendix The Next Wave—A New Stage of Growth ............ 13 Business Segments .................................................. 19 Management Organization and Operation— The Next Wave— Aiming for Sustained Growth .................................. 33 A New Stage of Growth Industry and SOFTBANK Group Data ...................... 39 • Looking Back at Our Growth Path Status of Investments .............................................. 44 • Fundamental Strategy for Further Growth Major Subsidiaries and Affiliates .............................. 46 Strategic Focus Businesses— Video and Mobile Financial Section...................................................... 51 Eleven-Year Summary.............................................. 52 Corporate Data and Stock Information .................. 107 PRECAUTIONS REGARDING FORWARD-LOOKING STATEMENTS This annual report includes information regarding medium- and long-term strategies, plans, and outlooks. All information that is not based on historical facts does not represent a guarantee regarding future operating results and contains inherent risks and uncertainties. Consequently, as there may be significant changes in the operating environment and other factors, investors are cautioned not to rely entirely on the information in this annual report with regard to the outlook for future operating results. Corporate Profile Since its foundation in 1981, the SOFTBANK Group has based its actions on its core management philosophy: “Endeavoring to benefit society and the economy and to maximize enterprise value by fostering the sharing of wisdom and knowledge gained through the IT revolution.” When it was established, the SOFTBANK Group anticipated the coming PC era and staked out a position of leadership in the distribution of packaged software for PCs. In the 1990s, before the Internet era got fully under way, we established Yahoo Japan Corporation and launched Yahoo! JAPAN, which has now become Japan’s largest Internet portal. And in 2001, we started commercial operation of the high-speed, low-cost Yahoo! BB ADSL comprehensive broadband service, thereby becoming the driving force in making Japan a leader in broadband. We also entered the fixed-line com- munications business with the acquisition of JAPAN TELECOM CO., LTD., in 2004 and the mobile communications business with the acquisition of Vodafone K.K. in 2006. With this business expansion, we have laid the foun- dation for progress toward the realization of the ubiquitous society, where people can easily communicate anytime, anywhere, and with anyone. Through the world’s most advanced IP backbone network, Yahoo! JAPAN and other platforms provided over that network, and a diverse range of high-value-added services and content deployed over those platforms, we will continue making great strides toward the realization of the dreams we have pursued since our first day in business. 01 Consolidated Financial Highlights SOFTBANK CORP. AND ITS SUBSIDIARIES Fiscal years ended March 31 FY Yen in millions except for per share data, % data, and year-end stock price 2004 2005 2006 For the Fiscal Year: Net sales ¥517,394 ¥837,018 ¥1,108,665 Operating (loss) income (54,894) (25,359) 62,299 EBITDA*1 (20,705) 44,095 149,913 (Loss) income before income taxes and minority interest (76,745) (9,549) 129,484 Net (loss) income (107,094) (59,872) 57,551 Net cash (used in) provided by operating activities (83,829) (45,989) 57,806 Net cash provided by (used in) investing activities 81,878 (242,944) 27,852 Net cash provided by (used in) financing activities 306,390 277,771 30,078 At Fiscal Year-End: Total assets ¥1,421,207 ¥1,704,854 ¥1,808,399 Total shareholders’ equity 238,081 178,017 242,768 Equity ratio (%) 16.8 10.4 13.4 Interest-bearing debt 575,541 853,918 905,293 Net interest-bearing debt*2 134,858 531,680 454,614 Debt/equity ratio (%) 241.7 479.7 372.9 Net debt/equity ratio (%)*2 56.6 298.7 187.3 Per Share Data (Yen)*3 : Net (loss) income ¥(104.91) ¥ (57.01) ¥ 54.36 Net assets 225.80 168.62 229.88 Cash dividends 2.33 2.33 2.50 ＜For reference＞ Stock Information: Year-end stock price (Yen)*4 ¥1,623 ¥ 1,473 ¥3,450 Market capitalization 1,711,497 1,553,622 3,640,549 *1 EBITDA = Operating income (loss) + depreciation, amortization, loss on disposal of fixed assets included in operating expenses. *2 Net interest-bearing debt and the net debt/equity ratio are calculated by deducting cash and deposits and marketable securities (current assets) and others from interest- bearing debt. *3 Net (loss) income per share is calculated based on the weighted-average number of shares outstanding during each fiscal year, and net assets per share are calcu- lated based on the number of shares outstanding as of each fiscal year-end. *4 Year-end stock prices have been retroactively adjusted for the 3:1 stock split carried out on January 5, 2006. Net Sales / Operating (Loss) Income EBITDA (Yen in billions) (Yen in billions) (Yen in billions) 149 1,200 1,108 100 150 837 62 100 600 517 50 405 406 50 44 0 0 0 –23 –25 – 10 – 20 –50 –54 –50 – 69 –91 –100 –100 FY 02 03 04 05 06 FY 02 03 04 05 06 Net sales (left ) Operating (loss) income (right) 02 2005 2006 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q ¥147,312 ¥ 156,395 ¥258,087 ¥275,224 ¥258,638 ¥264,149 ¥287,471 ¥298,407 (3,819) (2,971) (7,536) (11,033) (3,190) 7,590 23,512 34,387 6,031 5,985 15,875 16,204 19,505 30,740 44,713 54,955 (4,271) 17,925 (9,641) (13,562) 761 25,141 59,687 43,895 (17,876) 11,830 (26,560) (27,266) (11,153) 6,971 22,002 39,731 (11,937) 6,644 (25,416) (15,280) (18,214) 233 61,949 13,838 (23,301) (136,910) (17,353) (65,380) (28,703) (45,593) 86,627 15,521 98,753 20,469 34,503 124,046 12,925 (11,082) (46,729) 74,964 ¥1,667,304 ¥2,080,361 ¥2,090,044 ¥1,704,854 ¥1,620,883 ¥1,578,924 ¥1,748,605 ¥1,808,399 230,645 231,847 204,685 178,017 167,346 170,342 219,111 242,768 13.8 11.1 9.8 10.4 10.3 10.8 12.5 13.4 620,004 814,646 829,771 853,918 876,145 850,744 810,776 905,293 112,191 411,676 429,368 531,680 586,241 615,688 469,138 454,614 268.8 351.4 405.4 479.7 523.6 499.4 370.0 372.9 48.6 177.6 209.8 298.7 350.3 361.4 214.1 187.3 ¥ (16.96) ¥ (5.73) ¥ (30.93) ¥ (57.01) ¥ (10.58) ¥ (3.97) ¥ 16.90 ¥ 54.36 218.79 219.93 194.13 168.62 158.72 161.56 207.77 229.88 0.00 0.00 0.00 2.33 0.00 0.00 0.00 2.50 ¥1,600¥1,703 ¥ 1,663 ¥ 1,473 ¥1,450¥2,100 ¥ 4,980 ¥ 3,450 1,686,897 1,795,842 1,753,961 1,553,622 1,529,017 2,214,468 5,252,480 3,640,549 Interest-Bearing Debt / Net Interest-Bearing Debt / Total Shareholders’ Equity / Equity Ratio Liquidity on-Hand* (Yen in billions) (%) (Yen in billions) 500 50 465 1,000 905 853 40.0 400 40 800 300 30 600 575 27.2 531 238 242 257 440 454 450 200 178 20 16.8 400 365 340 322 13.4 232 100 10 200 188 10.4 133 152 134 0 0 0 FY 02 03 04 05 06 FY 02 03 04 05 06 Total shareholders’ equity (left) Equity ratio (right) Interest-bearing debt Net interest-bearing debt Liquidity on-hand * Cash and deposits and marketable securities (current assets) and others 03 Snapshot of the SOFTBANK Group—Growth Foundation and Strategies The Sky’s the Limit—We will continue to target unlimited growth. 1 A Dominant Operational Base Industry Position 3S’s Theory: Speed + (Scale + Quality) = Strongest ● No. 1 in broadband infrastructure ● Dominant customer reach as No. 1 in Internet portals ● Use of portals and platforms to provide diverse, high-value-added services and content, with an emphasis on scale and speed ■ Industry No. 1, Five Million Lines in Little More Than ■ Customer Reach Is the Biggest Competitive Advantage Four Years—Yahoo! BB ADSL in Advertising, Services, and Content—Yahoo! JAPAN Monthly Average Revenue Per User (ARPU) Doubled Growth in ADSL Lines and ARPU No. 1 Internet Site (Thousand lines) (Yen) No. of unique users 6,000 6,000 (Thousand users) No. of ADSL 30,000 yahoo.co.jp lines (left) 5,000 5,000 msn.co.jp ARPU (right) infoseek.co.jp 4,000 4,000 20,000 goo.ne.jp 3:37:00 0:29:41 google.co.jp 3,000 3,000 0:33:39 10,000 2,000 2,000 0:53:04 0:14:26 Monthly page views 1,000 1,000 per user 0 200 400 600 800 0 0 02/3Q 06/4Q Note: For comparison purposes, fiscal 2006 ARPU includes revenues from the Note: The size of the circle shows usage time per person. modem rental business and the wireless LAN business. Source: Video Research Interactive Web Report, March 2006 data 3 Expanding in All Dimensions Growth Strategies Stepping Forward Extending Horizontally ■ Expanding Customer Base ■ Broader Base for Provision of Differentiated Services and Content From Broadband to Fixed-Line and Mobile Markets with Huge Potential Number of Group Lines Japan: 79 million (Million lines) From Japan 30 to overseas*1 Overseas: 761 million 25.59 Fixed-line: 23 million lines From fixed-line to mobile*2 20 Mobile: 82 million lines SOFTBANK: 5 million customers From our own 10.91 customers to all Other companies: 18 million users 10 broadband users*3 4.00 1 * Source: Ministry of Internal Affairs and Communications (MIC), International Telecommunication Union (ITU); Number of Internet users 0 —Japan: as of the end of March 2005; Overseas: as of the end of December 2004.
Recommended publications
  • Integrated Report 2019

    Integrated Report 2019

    Integrated Report 2019 Sumitomo Realty & Development Co., Ltd. 1 Sumitomo’s Business Philosophy The Sumitomo Realty Group, as the heir of Sumitomo Honsha, Ltd., has developed into a comprehensive real estate enterprise of Continue creating the Sumitomo Group with a history of 400 years. The business philosophy—“Placing prime importance on integrity and sound management in the conduct of its business” and “Under no circumstances, shall it pursue easy gains”—which have been new value with handed down as a guiding principle throughout the Sumitomo’s history, live on in the form of our corporate slogan, “Integrity and "Integrity and Innovation.” Innovation" Placing top priority on Integrity, we will go beyond simple development and relentlessly pursue value creation through our innovative and challenging spirit. Fundamental Mission “Create even better social assets for the next generation.” We have set forth our fundamental mission as “to create even better social assets for the next generation” through our businesses closely associated with people’s daily lives. Based on this fundamental stance, the Sumitomo Realty Group is engaging in business with the aim of creating cities and urban spaces that are resilient to disasters, friendly to people and the environment, and harmonious with history and culture. Contents 2 Sustainable Growth as Tokyo’s No.1 Office Owner 28 Addressing Social Issues through Business Activities 46 Financial Section History of Corporate Value Creation by "Land Innovation" 30 Feature 1 Sustainable urban redevelopment—Osaki
  • Itraxx Japan Series 36 Provisional Membership List September 2021

    Itraxx Japan Series 36 Provisional Membership List September 2021

    iTraxx Japan Series 36 Provisional Membership List September 2021 Copyright © 2021 IHS Markit Ltd T180614 iTraxx Japan Series 36 Provisional Membership List 1 iTraxx Japan Series 36 Provisional Membership List................................. 3 2 iTraxx Japan Series 36 Provisional vs. Series 35.......................................5 3 Further information .....................................................................................6 Copyright © 2021 IHS Markit Ltd | 2 T180614 iTraxx Japan Series 36 Provisional Membership List 1 iTraxx Japan Series 36 Provisional Membership List IHS Markit Ticker IHS Markit Long Name ACOM ACOM CO., LTD. JUSCO AEON CO., LTD. ANAHOL ANA HOLDINGS INC. FUJITS FUJITSU LIMITED HITACH HITACHI, LTD. HNDA HONDA MOTOR CO., LTD. CITOH ITOCHU CORPORATION JAPTOB JAPAN TOBACCO INC. JFEHLD JFE HOLDINGS, INC. KAWHI KAWASAKI HEAVY INDUSTRIES, LTD. KAWKIS KAWASAKI KISEN KAISHA, LTD. KINTGRO KINTETSU GROUP HOLDINGS CO., LTD. KOBSTL KOBE STEEL, LTD. KOMATS KOMATSU LTD. MARUB MARUBENI CORPORATION MITCO MITSUBISHI CORPORATION MITHI MITSUBISHI HEAVY INDUSTRIES, LTD. MITSCO MITSUI & CO., LTD. MITTOA MITSUI CHEMICALS, INC. MITSOL MITSUI O.S.K. LINES, LTD. NECORP NEC CORPORATION NPG-NPI NIPPON PAPER INDUSTRIES CO.,LTD. NIPPSTAA NIPPON STEEL CORPORATION NIPYU NIPPON YUSEN KABUSHIKI KAISHA NSANY NISSAN MOTOR CO., LTD. OJIHOL OJI HOLDINGS CORPORATION ORIX ORIX CORPORATION PC PANASONIC CORPORATION RAKUGRO RAKUTEN GROUP, INC. RICOH RICOH COMPANY, LTD. SHIMIZ SHIMIZU CORPORATION SOFTGRO SOFTBANK GROUP CORP. SONYGRO SONY GROUP CORPORATION Copyright © 2021 IHS Markit Ltd | 3 T180614 iTraxx Japan Series 36 Provisional Membership List SUMICH SUMITOMO CHEMICAL COMPANY, LIMITED SUMI SUMITOMO CORPORATION SUMIRD SUMITOMO REALTY & DEVELOPMENT CO., LTD. TFARMA TAKEDA PHARMACEUTICAL COMPANY LIMITED TOKYOEL TOKYO ELECTRIC POWER COMPANY HOLDINGS, INCORPORATED TOSH TOSHIBA CORPORATION TOYOTA TOYOTA MOTOR CORPORATION Copyright © 2021 IHS Markit Ltd | 4 T180614 iTraxx Japan Series 36 Provisional Membership List 2 iTraxx Japan Series 36 Provisional vs.
  • C T B I Fi Corporate Briefing

    C T B I Fi Corporate Briefing

    CtBifiCorporate Briefing 平成 25 年 4 月 25 日 06/2014 ITmedia Inc. Copyright © 2014 ITmedia Inc. ITmedia -AT A GLANCE The laagrgest on-line media comppyany in Jap an EtblihdiEstablished in Lis te d on TSE SftbkSoftbank group 1999 Mothers in 2007 company Copyright © 2014 ITmedia Inc. P 1 ITmedia -AT A GLANCE with Numbers Paid Capital Sites ¥1.64B 30+ Clients Number of Employees Monthly Readers 600+ 175 20MUB Annual Sales Editorial Sales 80 65 Monthly Traffic ¥2.9B Professional contributors PV 500+ 100M Copyright © 2014 ITmedia Inc. P 2 ITmedia -Our Strengths Professional Editors Strong Consulting Sales And its network Unique add-value services such as Dominance of IT market Lead Generation and Smart Media Copyright © 2014 ITmedia Inc. P 3 ITmedia -Our Future specialized information media figure of specialist information through magazines media in Internet era model in 1980s to 90s - model of ITmedia - •Professional industrial •Professional industrial websites Magazines C •Free browse/ membership-based r •Subscriptions eation content •Magazine advertisement publi •Internet advertising business business model s o hing ECO f new Energy Management Businesses Electronics Businesses Computers Entertainment m Interne odel IT Architectur Medical/ Engineers Real estate Lifestyle e/ design biotech Job t offers Copyright © 2014 ITmedia Inc. P 4 ITmedia -Our Media and Services ＩＴ総合情報ポータル 「ITmedia」 Consumer ＩＴ II ndustry Market Electronics, Mechanics Others And Manufacturing Industries Copyright © 2014 ITmedia Inc. P 5 ITmedia -Our contents Providing electricity
  • Earnings Results for the Interim Period Ended Spetember 30, 2007

    Earnings Results for the Interim Period Ended Spetember 30, 2007

    Earnings Results for the Interim Period Ended September 30, 2007 November 6, 2007 SOFTBANK CORP. March 12, 2010 Version Due to protection of rights, some of the photos and images included at the time of publication have been modified or revised. <Highlights> 1. Consolidated earnings results: H1 operating income increased by 49% (YoY) H1 net income: 3.2 times (YoY) 2. Success in mobile operations: 1.14 million of net subscriber additions in H1 3. Becoming No.1 Internet company in Asia: IPO of Alibaba + Yahoo! JAPAN 2 H1/FY2007 Summary of Consolidated Earnings Results <bn JPY> <Interim> H1/FY07 H1/FY06 YoY (Apr 07 – Sep) (Apr 06 – Sep) Net Sales 1,364.7 1,120.1 +244.5 EBITDA 314.2 228.4 +85.8 Operating income 167.7 112.5 +55.1 Ordinary income 111.1 62.6 +48.4 Income before income taxes and 122.9 118.8 +4.0 minority interests Net income 46.4 14.4 +32.0 Note: Operating results of SOFTBANK MOBILE Corp. (formerly Vodafone K.K.) are included beginning in May 2006 3 H1/FY2007 Highlights <k> Interim Net Additions 1,140 1,030 1,000 960 960 +1.05 million YoY 500 320 97 0 FY06 FY07 FY06 FY07FY06 FY07 H1 H1 H1 SBM NTT DoCoMo KDDI 4 H1/FY2007 Highlights <bn JPY> Interim Operating Income 180 167.7 160 140 112.5 120 Increased by 100 49% YoY 80 60 40 20 0 H1/FY06 H1/FY07 5 H1/FY2007 Highlights <%> Interim Operating Income YoY Movement 50% 49% SOFTBANK Increased by 9% KDDI 49%YoY 0% -21% NTT DoCoMo -50% H1/FY06 H1/FY07 6 Consolidated Net Sales (interim) 1,364.7 <bn JPY> 1,120.1 1,000 H1/FY2007 1,364.7bn JPY 522.7 500 IncreasedIncreased byby 2222％％ YoYYoY 0 H1/FY05 H1/FY06 H1/FY07 Note: Operating results of SOFTBANK MOBILE Corp.
  • Softbank Family, Two Years Ago I Was Given the Mandate to Create A

    Softbank Family, Two Years Ago I Was Given the Mandate to Create A

    SoftBank Family, Two years ago I was given the mandate to create a Government Affairs department to manage the legislative, regulatory and political matters affecting Softbank and its global investments. Today, the group’s world- class leadership team brings to bear public policy and public affairs expertise that allows Government Affairs to effectively serve the entire SoftBank’s ecosystem including the SoftBank Group Corp, SoftBank Vision Fund, Softbank Group International, SoftBank Latam Fund and others. Under Ziad Ojakli’s leadership, the Government Affairs team has made many significant contributions to SoftBank, including most notably: • Facilitating regulatory approval of the Sprint-T-Mobile merger – a $195B enterprise value merger and the 7th largest stock merger in history • Implementing SoftBank’s national security policy and creating a compliance and training framework to ensure adherence and protect our investments • Obtaining CFIUS approvals on all of our investments with limited to no mitigation requirements • Providing strategic counsel and direct support to 35+ portfolio companies • Building a strong SoftBank brand with political leaders globally But arguably Ziad’s greatest achievement is the Government Affairs team that he has built. Even before Ziad joined SoftBank, he and I discussed the importance of building a high-performing team of such caliber and cohesiveness that Government Affairs would be ‘future-proofed’. I explained to Ziad that the hallmark of leadership excellence is creating a team that can predictably deliver value beyond its leader – that is the legacy of a great leader. And Ziad has executed on this leadership mission flawlessly. Ziad will be leaving SoftBank on September 22nd to begin a new chapter in his career.
  • Tel.03-3246-3236 時代を動かすランドマーク̶̶ 汐留シティセンター。

    Tel.03-3246-3236 時代を動かすランドマーク̶̶ 汐留シティセンター。

    Specifications 物件概要 Building Profile 名 称 汐留シティセンター Name Shiodome City Center 所在地 東京都港区東新橋1丁目5番2号 Location Higashi-Shimbashi 1-Chome 5-2, Minato-ku, Tokyo 交 通 都営大江戸線「汐留」駅、新交通ゆりかもめ「新橋」駅：徒歩1分 Access 1-minute walk : Oedo Line-Shiodome Station, Yurikamome Line-Shimbashi Station 都営浅草線「新橋」駅：徒歩2分 2-minute walk : Asakusa line-Shimbashi Station JR線、東京メトロ「新橋」駅：徒歩3分 3-minute walk : JR, Ginza Line-Shimbashi Station 主要用途 事務所、店舗 Primary uses Office and retail 構 造 鉄骨造、鉄骨鉄筋コンクリート造 Primary structure type Steel, steel framed reinforced concrete 敷地面積 19,708.33㎡（B街区全体） Site area 19,708.33㎡ (Block B) 延床面積 210,154.24 ㎡（63,571.66坪） Building area 210,154.24㎡ (63,571.66 tsubo) 総貸付面積（事務所） 106,219.57 ㎡（32,131.42坪）［コア内3,132.12㎡（947.46坪）］ Rentable area (offices) 106,219.57㎡（32,131.42 tsubo） ［within core 3,132.12㎡（947.46 tsubo）］ 階 数 地上43階、地下4階、塔屋1階 No. of stories 43 above-ground floors, 4 underground, 1 penthouse 最高高さ GL+215.75 m Max. height GL+215.75m 竣 工 2003年1月 Completion January, 2003 設 計 ケビンローシュ・ジョンディンカルー・アンド・アソシエイツ Architects Kevin Roche, John Dinkeloo and Associates 共同設計 日本設計 Co-Architect Nihon Sekkei Inc. 施 工 竹中工務店 Main contractor Takenaka Corporation プロジェクト・マネジメント 三井不動産 Project management Mitsui Fudosan Co., Ltd. Developers Alderney Investments Pte Ltd., Mitsui Fudosan Co., Ltd. 貸 主 アルダニー・インベストメンツ、三井不動産 Parking capacity 443 vehicles (for Shiodome City Center) 駐車台数 443台（汐留シティセンター分） Elevators (for passengers) Low-rise bank (1F, 4F-12F): Seven elevators (24 persons each) エレベーター設備(乗用) 低 層：24人乗×7基（1F・ 4F-12F） Mid-rise bank (1F, 13F-22F): Eight elevators (24 persons each)
  • Itraxx Japan Series 35 Final Membership List March 2021

    Itraxx Japan Series 35 Final Membership List March 2021

    iTraxx Japan Series 35 Final Membership List March 2021 Copyright © 2021 IHS Markit Ltd T180614 iTraxx Japan Series 35 Final Membership List 1 iTraxx Japan Series 35 Final Membership List...........................................3 2 iTraxx Japan Series 35 Final vs. Series 34................................................ 5 3 Further information .....................................................................................6 Copyright © 2021 IHS Markit Ltd | 2 T180614 iTraxx Japan Series 35 Final Membership List 1 iTraxx Japan Series 35 Final Membership List IHS Markit Ticker IHS Markit Long Name ACOM ACOM CO., LTD. JUSCO AEON CO., LTD. ANAHOL ANA HOLDINGS INC. FUJITS FUJITSU LIMITED HITACH HITACHI, LTD. HNDA HONDA MOTOR CO., LTD. CITOH ITOCHU CORPORATION JAPTOB JAPAN TOBACCO INC. JFEHLD JFE HOLDINGS, INC. KAWHI KAWASAKI HEAVY INDUSTRIES, LTD. KAWKIS KAWASAKI KISEN KAISHA, LTD. KINTGRO KINTETSU GROUP HOLDINGS CO., LTD. KOBSTL KOBE STEEL, LTD. KOMATS KOMATSU LTD. MARUB MARUBENI CORPORATION MITCO MITSUBISHI CORPORATION MITHI MITSUBISHI HEAVY INDUSTRIES, LTD. MITSCO MITSUI & CO., LTD. MITTOA MITSUI CHEMICALS, INC. MITSOL MITSUI O.S.K. LINES, LTD. NECORP NEC CORPORATION NPG-NPI NIPPON PAPER INDUSTRIES CO.,LTD. NIPPSTAA NIPPON STEEL CORPORATION NIPYU NIPPON YUSEN KABUSHIKI KAISHA NSANY NISSAN MOTOR CO., LTD. OJIHOL OJI HOLDINGS CORPORATION ORIX ORIX CORPORATION PC PANASONIC CORPORATION RAKUTE RAKUTEN, INC. RICOH RICOH COMPANY, LTD. SHIMIZ SHIMIZU CORPORATION SOFTGRO SOFTBANK GROUP CORP. SNE SONY CORPORATION Copyright © 2021 IHS Markit Ltd | 3 T180614 iTraxx Japan Series 35 Final Membership List SUMICH SUMITOMO CHEMICAL COMPANY, LIMITED SUMI SUMITOMO CORPORATION SUMIRD SUMITOMO REALTY & DEVELOPMENT CO., LTD. TFARMA TAKEDA PHARMACEUTICAL COMPANY LIMITED TOKYOEL TOKYO ELECTRIC POWER COMPANY HOLDINGS, INCORPORATED TOSH TOSHIBA CORPORATION TOYOTA TOYOTA MOTOR CORPORATION Copyright © 2021 IHS Markit Ltd | 4 T180614 iTraxx Japan Series 35 Final Membership List 2 iTraxx Japan Series 35 Final vs.
  • Ricoh Group Integrated Report 2019 (English)

    Ricoh Group Integrated Report 2019 (English)

    Message from Executives (As of June 21, 2019) Directors (Internal) Responsibilities as a Director of Under the “RICOH Resurgent” strategy in the year ended March 31, the Company Nomination Committee Member/ 2018, we prioritized business structural reforms, and as a result, we Compensation Committee Member were able to lay the foundations for transitioning to a more stable Responsibilities as an Executive Officer of the Company earnings structure. CEO In the year ended March 31, 2019, we built on those foundations and further solidified the recovery in business profitability. In addition, we Yoshinori Yamashita worked on the execution of each growth strategy under “RICOH Ignite,” (August 22, 1957) which shows our direction in the future, by utilizing external resources through M&A and capital alliances as strategic moves for growth and Attended all of the 12 board meetings held in the year ended March 31, 2019. “Lift Off.” Brief personal profile In the year ending March 31, 2020, we will accelerate the realization Mar 1980 Joined the Company Apr 2008 President of Ricoh Electronics, Inc. process of our growth strategy by proceeding with business investments Apr 2010 Group Executive Officer, Corporate Vice President Apr 2011 Corporate Senior Vice President that benefit the Company’s focus areas while shifting to a management General Manager of Corporate Planning Division structure that is more conscious of capital costs. In addition, we will Jun 2012 Director Corporate Executive Vice President strengthen our efforts to achieve future sustainable growth through a Apr 2013 In charge of Internal Management and Control Apr 2014 General Manager of Business Solutions Group variety of measures, such as training the leaders of the next-generation Apr 2015 In charge of core business Jun 2016 Deputy President and reforming our corporate structure.
  • Ranking of Stocks by Market Capitalization(As of End of Jan.2018)

    Ranking of Stocks by Market Capitalization(As of End of Jan.2018)

    Ranking of Stocks by Market Capitalization(As of End of Jan.2018) 1st Section Rank Code Issue Market Capitalization \100mil. 1 7203 TOYOTA MOTOR CORPORATION 244,072 2 8306 Mitsubishi UFJ Financial Group,Inc. 115,139 3 9437 NTT DOCOMO,INC. 105,463 4 9984 SoftBank Group Corp. 98,839 5 6861 KEYENCE CORPORATION 80,781 6 9432 NIPPON TELEGRAPH AND TELEPHONE CORPORATION 73,587 7 9433 KDDI CORPORATION 71,225 8 7267 HONDA MOTOR CO.,LTD. 69,305 9 8316 Sumitomo Mitsui Financial Group,Inc. 68,996 10 7974 Nintendo Co.,Ltd. 67,958 11 7182 JAPAN POST BANK Co.,Ltd. 66,285 12 6758 SONY CORPORATION 65,927 13 6954 FANUC CORPORATION 60,146 14 7751 CANON INC. 58,005 15 6902 DENSO CORPORATION 54,179 16 4063 Shin-Etsu Chemical Co.,Ltd. 53,624 17 8411 Mizuho Financial Group,Inc. 52,124 18 6594 NIDEC CORPORATION 52,025 19 9983 FAST RETAILING CO.,LTD. 51,647 20 4502 Takeda Pharmaceutical Company Limited 50,743 21 7201 NISSAN MOTOR CO.,LTD. 49,108 22 8058 Mitsubishi Corporation 48,497 23 2914 JAPAN TOBACCO INC. 48,159 24 6098 Recruit Holdings Co.,Ltd. 45,095 25 5108 BRIDGESTONE CORPORATION 43,143 26 6503 Mitsubishi Electric Corporation 42,782 27 9022 Central Japan Railway Company 42,539 28 6501 Hitachi,Ltd. 41,877 29 9020 East Japan Railway Company 41,824 30 6301 KOMATSU LTD. 41,162 31 3382 Seven & I Holdings Co.,Ltd. 39,765 32 6752 Panasonic Corporation 39,714 33 4661 ORIENTAL LAND CO.,LTD. 38,769 34 8766 Tokio Marine Holdings,Inc.
  • Real Estate Sector 4 August 2015 Japan

    Real Estate Sector 4 August 2015 Japan

    Deutsche Bank Group Markets Research Industry Date Real estate sector 4 August 2015 Japan Real Estate Yoji Otani, CMA Akiko Komine, CMA Research Analyst Research Analyst (+81) 3 5156-6756 (+81) 3 5156-6765 [email protected] [email protected] F.I.T.T. for investors Last dance Bubbles always come in different forms With the big cliff of April 2017 in sight, enjoy the last party like a driver careening to the cliff's brink. Japan is now painted in a completely optimistic light, with the pessimism which permeated Japan after the Great East Japan Earthquake in 2011 forgotten and expectations for the 2020 Tokyo Olympics riding high. The bank lending balance to the real estate sector is at a record high, and we expect bubble-like conditions in the real estate market to heighten due to increased investment in real estate to save on inheritance taxes. History repeats itself, but always in a slightly different form. We have no choice but to dance while the dance music continues to play. ________________________________________________________________________________________________________________ Deutsche Securities Inc. Deutsche Bank does and seeks to do business with companies covered in its research reports. Thus, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. DISCLOSURES AND ANALYST CERTIFICATIONS ARE LOCATED IN APPENDIX 1. MCI (P) 124/04/2015. Deutsche Bank Group Markets Research Japan Industry Date 4 August 2015 Real Estate Real estate sector FITT Research Yoji Otani, CMA Akiko Komine, CMA Research Analyst Research Analyst Last dance (+81) 3 5156-6756 (+81) 3 5156-6765 [email protected] [email protected] Bubbles always come in different forms Top picks With the big cliff of April 2017 in sight, enjoy the last party like a driver Mitsui Fudosan (8801.T),¥3,464 Buy careening to the cliff's brink.
  • (38Th Fiscal Period) Information Package

    (38Th Fiscal Period) Information Package

    Fiscal Period Ended March 2021 (38th Fiscal Period) Information Package (Securities Code: 8961) https://www.mt-reit.jp/en/ (Asset Management Company) MEMO Contents 1. Overview of the Settlement and Forecasts 3 5. Reference 32 Fiscal Period Ended March 2021 Settlement Highlights 4 Balance Sheets 33 Overview of the Settlement for the Fiscal Period Ended March 2021 5 Statements of Income and Retained Earnings 34 Factors for Change in Distributions per Unit 6 Statement of Cash Distributions / Statements of Cash Flows 35 (the fiscal period ended March 2021) Changes in Indicators 36 Forecasts for the Fiscal Period Ending September 2021 7 Factors for Change in Distributions per Unit 8 Changes in Asset Size, LTV and Distribution Per Unit 37 (the fiscal period ending September 2021) Property Portfolio List as of the End of the Fiscal Period 38 Forecasts for the Fiscal Period Ending March 2022 9 Appraisal Values of Portfolio Properties at the Fiscal Period-End 39 2. Operation Status 10 Changes in Occupancy Rate 40 External Growth (Recognition of Conditions and Future Policies) 11 Overview of Occupancy Rate and Lease Contracts at the Fiscal 41 Asset Replacement (Sale of Part of the Tokyo Shiodome Building and 12 Period-End Purchase of Kamiyacho Trust Tower) Portfolio Summary and Breakdown of Property-Related 42 New Property Acquisition (Kamiyacho Trust Tower) 13 Revenues/Expenses Internal Growth (Recognition of Conditions and Future Policies) 14 Interest-Bearing Liabilities 45 Internal Growth (The present leasing status of the Tokyo Shiodome 15 Investors 46 Building/Situation of Rent Revision for Six Office Buildings) Changes in Unit Prices 47 Future response policy regarding Shinbashi Ekimae MTR Building 16 Financial Status (Management Results for the Fiscal Period Under Review 17 Changes in Vacancy Rate and Rent per Unit in Major Cities 48 and Loan Repayment Schedule Diversification) Asset Management Company Remuneration Methods 49 Financial Status (Status of Interest-Bearing Liabilities and Rating) 18 3.
  • State Street Japan ESG Screened Index Equity Fund

    State Street Japan ESG Screened Index Equity Fund

    FACTSHEET EMEA_INST2 State Street Global Advisors Luxembourg SICAV State Street Japan ESG Screened Index Equity Fund As of 31 August 2021 Equities 31 August 2021 Share Class Performance [P] All Investors Annualised Benchmark Fund Gross Difference Fund Net Difference 1 Year (%) 24.30 24.41 0.11 23.57 -0.73 Fund Objective 3 Year (%) 7.32 7.39 0.07 6.66 -0.65 The objective of the Fund is to track the performance of 5 Year (%) 10.44 10.52 0.08 9.78 -0.66 the Japanese equity market. Since Inception (%) 2.90 3.03 0.12 2.37 -0.54 Investment Strategy Cumulative The investment policy of the Fund is to track the 1 Month (%) 3.18 3.18 0.00 3.12 -0.06 performance of the MSCI Japan ex UNGC and CW Index 3 Month (%) 1.92 2.14 0.22 1.96 0.04 (or any other index determined by the Directors from time to time to track substantially the same market as the 1 Year (%) 24.30 24.41 0.11 23.57 -0.73 Index) as closely as possible while seeking to minimize as 3 Year (%) 23.60 23.84 0.25 21.36 -2.24 far as possible the tracking difference between the Fund's 5 Year (%) 64.27 64.88 0.60 59.41 -4.86 performance and that of the Index. Since Inception (%) 102.15 108.24 6.09 77.78 -24.37 The Index measures the performance of Japanese equities. Securities are weighted by free float-adjusted Calendar market capitalization after screening out securities based 2021 (year to date) 9.69 9.74 0.05 9.25 -0.44 on an assessment of their adherence to ESG criteria i.e.