One Profitable SoftBank Unit Plans Big Bond Sale
- Z Holdings plans to sell about 200 billion yen of securities
- Firm reported higher profits from online shopping amid virus
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Billionaire Masayoshi Son appears to have lost his midas touch of late, but one part of his technology empire still turning a profit, even in the Covid-19 era, is now planning a big bond.
Z Holdings Corp., formerly known as Yahoo Japan, is planning to sell about 200 billion yen ($1.86 billion) of yen-denominated notes in June, according to people familiar with the matter, who asked not to be identified. Son was one of the earliest backers of Yahoo! in the 1990s and then teamed up with the dot-com-era darling to launch the portal in Japan, an asset that wound up being much more valuable than its parent.