Softbank: Will Sprint Bid for T-Mobile? If They Do, the Merger Synergies Could Be Massive.

Yahoo Japan Delivers Solid Ad Revenue Growth in 3Q16/17. The Outlook Remains Positive.

Softbank 2.0 Is Coming But, for Now, Upside Is Driven by Sprint/Alibaba.

Japan Telecoms' Strong 1Q17 Results Confirm Rising Return Story Is Intact.

KDDI: More of the Same Please. Rising Return Story Intact

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New Street Research Insights

New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
Japanese Healthcare

We also provide debt research on:
Pan European Telecom Services and Cable

Equity Bottom-Up

<p>Softbank's results were ahead of expectations, boosted by margin expansion in domestic telecom while headline net income was boosted by an after-tax gain of ¥530bn on the Supercell sale. With <a href="https://www.smartkarma.com/entities/921" target="_blank" data-smartkarma-citation="entities:921:1">Sprint (S US)</a> (in-line) and <a href="https://www.smartkarma.com/entities/19603" target="_blank" data-smartkarma-citation="entities:19603:1">Yahoo Japan (4689 JP)</a> (ahead) results already out, the key focus in the quarterly report was domestic mobile performance. That was largely in line, although service revenue was light and margins better. With the modest beat and positive comments on Japan, ARM and the US, we think…</p>

Softbank's results were ahead of expectations, boosted by margin expansion in domestic telecom while headline net income was boosted by an after-tax gain of ¥530bn on the Supercell sale. With Sprint (S US) (in-line) and Yahoo Japan (4689 JP) (ahead) results already out, the key focus in the quarterly report was domestic mobile performance. That was largely in line, although service revenue was light and margins better. With the modest beat and positive comments on Japan, ARM and the US, we think…

Softbank's Modest Beat in 2Q16/17. Focus Is on Long Term Value Generation

Softbank Group

Softbank's Modest Beat in 2Q16/17. Focus Is on Long Term Value Generation