Softbank eyes top ten ranking in 30 years

Jun 20, 2011
Masayoshi Son, the chief of Japanese Internet and telecom giant Softbank, delivers a speech during a "Green Growth" summit in Seoul. The head of Japan's Softbank Corp said that he was aiming to make the information technology giant one of the world's top ten companies by market capitalisation within 30 years.

The head of Japan's Softbank Corp said Monday that he was aiming to make the information technology giant one of the world's top ten companies by market capitalisation within 30 years.

Masayoshi Son, chairman and CEO of Softbank Corp, said Japan's third-largest aims to have a market value of 200 trillion yen ($2.4 trillion) with 5,000 subsidiaries, many of them in Asia.

"We currently own about 800 IT companies across the world...and will increase the number to 5,000 across the world in 30 years," Son, Japan's richest man, said in a news conference in Seoul.

The Tokyo-based firm aggressively invests in northeast Asia and plans to help business partners in South Korea and China expand presence overseas in a project called "Oriental Express," he said.

Softbank, which has invested $230 million in 127 firms in South Korea, recently formed a cloud computing venture with the South's KT to help Japanese firms keep their data safe from natural disasters.

It has also increased investment in China by raising stakes in firms including Alibaba and RenRen, respectively China's top e-commerce operator and social networking site.

"Our goal is helping Internet companies in Japan, South Korea and China broaden businesses into elsewhere in Asia," he said, without elaborating.

The IT firm will also take a plunge into the smart grid industry -- a key system to cut by improving renewable electric-system reliability, security and efficiency, he said.

"Softbank may be a novice in the energy industry... but I believe we can make a contribution on smart grid based on Internet technologies we know a bit about," he said.

Son is a high-profile advocate for a shift away from and towards renewables such as solar and wind.

He recently announced the construction of 10 large in the wake of the at the Fukushima Daiichi plant that was crippled by the March 11 earthquake and tsunami.

"I realised we won't be able to pursue information revolution without electricity... renewable energy is recently emerging as another new area (of the business)," he said.

Explore further: How does Uber's surge pricing work – and how ethical is it?

add to favorites email to friend print save as pdf

Related Stories

Japan's Softbank announces solar power plan

May 25, 2011

Japanese telecom company Softbank is to work with local authorities in a drive towards renewable energy, its president said on Wednesday after announcing the construction of 10 large solar power plants.

Softbank reports robust earnings on smartphones

May 09, 2011

(AP) -- Softbank Corp., the only Japanese mobile carrier offering the hit iPhone, said annual profit nearly doubled despite suffering damage from the March 11 quake and tsunami that battered northeastern ...

China, Japan launch Asian eBay rival

Jun 01, 2010

China's largest retail website Taobao and Yahoo! Japan launched a joint service Tuesday in a deal expected to create the world's biggest online marketplace by harnessing Asia's surging ranks of e-consumers.

Chinese retail site, Yahoo! Japan unveil deal

May 10, 2010

China's largest retail website Taobao and Yahoo! Japan on Monday announced a new partnership aimed at increasing online shopping options for consumers in the world's number two and three economies.

Recommended for you

Underfire Uber ramps up rider safety

15 hours ago

Uber is ramping up driver background checks and other security measures worldwide after the smartphone-focused car-sharing service was banned in New Delhi following the alleged rape of a passenger.

Sony cancels NKorea parody film release after threats

16 hours ago

Hollywood studio Sony Pictures on Wednesday abruptly canceled the December 25 release date of "The Interview," a parody film which has angered North Korea and triggered chilling threats from hackers.

Sprint accused of billing for unwanted services

20 hours ago

(AP)—Federal regulators are accusing Sprint Corp. of illegally billing its wireless customers hundreds of millions of dollars in charges for text message alerts and other services that they didn't order.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.