SoftBank Suffers Rare Japan Debut Drop After Record IPO

SoftBank Suffers Rare Japan Debut Drop After Record IPO

SoftBank Corp shares slumped more than 10 percent on debut, as investor appetite for Japan’s biggest ever IPO was hurt by a recent service outage at the telecoms operator and worries over its exposure to Chinese telecoms gear maker Huawei.

The poor start for the unit of investment giant SoftBank Group Corp was uncommon in the Japanese IPO market. Of 82 IPOs so far this year, SoftBank was only the seventh to open below the IPO price. Among recent major IPOs, Japan Display was the only one to flop, suffering a fall in its 2014 debut.

“Retail investors are dumping shares after seeing the opening below IPO price, also affected by a service outage,” a market analyst at a brokerage said, declining to be named because he was not authorised to talk to the media.

“But I don’t expect the shares will fall much further given their dividend yield and expectations for being included in stock indexes,” he said.

Following its $23.5 billion initial public offering, shares of SoftBank Corp fell as far as JPY 1,344 five minutes into trade, or 10.4 percent lower than its IPO price of JPY1,500. The broader Tokyo market was up 0.1 percent.

SoftBank Corp shares were most heavily traded on the Tokyo Stock Exchange’s first section, accounting for about a third of the total turnover volume.

At 10:48 a.m. (0148 GMT), the shares were at JPY 1,384, after opening at JPY 1,463. SoftBank Group was up 0.5 percent.

SoftBank Corp CEO Ken Miyauchi will hold a news conference at 0630 GMT.

The IPO was just shy of the world record $25 billion 2014 listing of Chinese e-commerce giant Alibaba Group Holding Ltd, a SoftBank Group portfolio company.

During the IPO period, Japan’s third-largest mobile phone network provider by subscriber numbers suffered a rare nationwide service outage, which it said would not affect earnings or dividends.

Adding to investor worries, SoftBank Corp’s relationship with Huawei Technologies Co came under scrutiny as governments around the world moved to shut out the Chinese firm amid worries its gear could facilitate Chinese spying.

SoftBank Corp, which has the most exposure to Huawei among Japanese telecoms firms, plans to replace Huawei-provided 4G network equipment with other suppliers’ hardware, two sources said, in a process likely to be time-consuming and expensive.

IPOs are popular among Japanese retail investors, many of whom see them as sure profit bets given their tendency to open much higher than offering prices.

In SoftBank Corp’s case, an added attraction was its promise of a dividend payout of 85 percent, much higher than those of rivals NTT DoCoMo and KDDI Corp.

The IPO attracted about twice as many retail orders as the number of shares offered, sources at lead underwriters said last week. A smaller portion of shares offered to overseas intuitional investors was three times oversubscribed.


software program protection Suffers as Upstarts Lose get entry to to Virus data

Software Security Suffers as Upstarts Lose Access to Virus Data

a number of younger technology protection businesses are dropping get right of entry to to the most important collection of industry analysis of laptop viruses, a setback industry experts say will growthpublicity to hackers.

The coverage exchange on the data-sharing pioneer VirusTotal takes intention especially at a newtechnology of protection organizations, a few with valuations of $1 billion or extra, that haven’t been contributing their evaluation. Older organizations, a few with marketplace valuations plenty smaller than the upstart rivals, had pressed for the shift.

Alphabet Inc’s Google runs the VirusTotal database so safety professionals can share new examples of suspected malicious software program and opinions at the chance they pose. On Wednesday, the 12-12 monthsvintage service quietly said it would reduce off limitless scores access to organizations that do not proportion their own reviews of submitted samples.

Analysts and executives at numerous companies stated the modifications will depart a few servicesmuch more likely to mistakenly classify legitimate software as malicious and less capable of guard theircustomers from actual threats, at least in the short term.

in the event that they now not have get admission to to VirusTotal, their detection rankings will drop,”stated Andreas Marx, chief government of safety software assessment firm AV-test. With detectioncharges down, hackers will locate easier entry.

some protection corporations rely completely on the database, essentially freeloading, said executives on both facets of the divide, and did not want to proportion their evaluation for worry of being found out.

VirusTotal did not name any businesses to be reduce off. however several people familiar with the matterinformed Reuters the move might affect high-profile California firms Cylance Inc, Palo Alto Networks Inc and CrowdStrike Inc, in addition to a few smaller organizations.

Cylance stated it gave up get admission to to the rankings weeks in the past after finding out now not topercentage its generation. chief research Officer Jon Miller stated Cylance had not suffered but that others had.

“Many nexttechnology merchandise are surely now not functioning proper now,” he said, declining to say which. He stated the loss of VirusTotal may want to help spur the businesses to invest in their owninnovation to catch viruses.

asked whether or not it have been kicked off the carrier, Palo Alto said best that it had no longer beencounting on the VirusTotal peer determinations and expected “no impact” on clients.

CrowdStrike stated it became negotiating with VirusTotal and had no longer been reduce off throughSaturday. “We guide the task of VirusTotal and feature reached out to them to explore additional methodswe are able to collaborate for the advantage of the whole security community,” the enterprise wrote in an emailed declaration, declining to answer in addition questions.

‘A shortcut’
VirusTotal gets about 400,000 submissions of probably dangerous documents daily, generally fromantiqueshield antivirus businesses like Symantec Corp, Intel Corp and trend Micro Inc which sit down on the maximum machines.

“It became never supposed to allow new agencies to use it as a shortcut with the aid of silently relying on, and benefitting from, the carrier with out a corresponding investment,” stated fashion Micro chieftechnology Officer Raimund Genes, one in all many old-line tech executives who driven for the shift.

Marx of AV-check said that a few more recent corporations secretly trusted records furnished by way ofolder groups at the same time as marketing themselves as a reduce above the older era. “they are the use of conventional techniques, too,” he said.

a number of the more recent agencies said they do not percentage their evaluations for competitivemotives. Blanket copying of virus indicators has been an historic complaint at VirusTotal, with at least onesufferer resorting to sabotage in retaliation, Reuters pronounced last 12 months.(

Others say the way that they discover horrific programs is simply too extensive to combine with VirusTotal’s modern gadget.

“We had been extra than willing to work with them, but they didn’t have a way for us,” said Tomer Weingarten, leader government of SentinelOne, a firm that recognizes it was cut off from the feed againstits will. “this is a step back.”

Weingarten said SentinelOne had added a new data feed to replace VirusTotal and anticipated that VirusTotal will become much less relevant as organizations are excluded.

via a Google spokeswoman, VirusTotal said it became looking to act in the first-rate interest of the safetynetwork and it was hoping to assist groups combine their scanners into the VirusTotal platform.

© Thomson Reuters 2016

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