Softbank - Accounting for the Vision Fund in Softbank

Softbank 4Q16/17 Numbers: Japan Telcos Weak but the Main Interest Is Potential for US Consolidation.

Softbank 8,300 Buy in Level for Fresh Highs

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Equity Bottom-Up

<p><a href="https://www.smartkarma.com/profiles/1920" target="_blank" data-smartkarma-citation="accounts:1920">Kirk Boodry</a> wrote recently about accounting issues at <a href="https://www.smartkarma.com/entities/315" target="_blank" data-smartkarma-citation="entities:315:1">Softbank (9984 JP)</a> when taking including the Vision Fund (SVF). In fact, forecasting net income and EPS at Softbank has become quite difficult over the last year and is discussed in more detail below. The issues discussed below are non-cash and do not affect our valuation although they do feed into net income and EPS. We expect that most investors value Softbank using a sum of the parts (SOTP), so EPS volatility is less relevant but…</p>

Kirk Boodry wrote recently about accounting issues at Softbank (9984 JP) when taking including the Vision Fund (SVF). In fact, forecasting net income and EPS at Softbank has become quite difficult over the last year and is discussed in more detail below. The issues discussed below are non-cash and do not affect our valuation although they do feed into net income and EPS. We expect that most investors value Softbank using a sum of the parts (SOTP), so EPS volatility is less relevant but…

Three Issues for Net Income Forecasts for Softbank. Prefer to Look at SOTP. Remains a BUY.

Softbank Group

Three Issues for Net Income Forecasts for Softbank. Prefer to Look at SOTP. Remains a BUY.