Strategic Business Innovator Group (SBI) reported its financial results for the nine-month Period Ended December 31, 2021 before consolidation of Shinsei Bank.
SBI Holdings is a Japanese firm operating in three segments. Financial services, Asset Management and Bio (such as pharmaceuticals, health products, cosmetics etc.).
SBI posted marginal gains in its revenue compared to 2020. The most notable gains were in asset management, +194.3% YoY change (profit before income tax expense). SBI Holdings Inc. stock gained +3.96% in today's session (Tokyo). Additionally, the company announced that new shares will be issued as restricted stock compensation.
Further, the company announced that it will issue new shares as restricted stock compensation. The class and number of shares to be issued is 137,800 shares of the company’s common stock with February 15, 2022, as the payment date. The issue price will be 2,830 yen per share, putting the total amount of issuance at almost 389 million yen.
SBI and Shinsei Bank Ltd.
At the end of 2021, the Chief Executive Officer of SBI Holdings Inc., Yoshitaka Kitao said the company has the option to delist Shinsei Bank Ltd. to pay back the taxpayers' money.
Shinsei Bank Ltd. owes $3.1 billion (approx.) of taxpayers' money, following the 1998 bailout of Long-Term Credit Bank of Japan Ltd. (its predecessor). Once delisted, the bank may have the ability to issue preferred stocks. An alternative is allowing Shinsei's minority investors to swap their shares in exchange for SBI shares.
Recently, SBI launched a crypto fund with the following cryptocurrencies: Ethereum (ETH), Bitcoin (BTC), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Polkadot (DOT) and Chainlink (LINK).
The exposure to the above cryptocurrencies is not expected to exceed 20%. The minimum investment for the fund ranges between $9,000 to $27,000. Further, it is too early to determine how the fund will perform.
The fund cannot be cancelled midway. On 31 January, 2023 the success of the fund may be determined.
