本文源自金融界AI电报 软银公司股价上涨了约 3%，创下盘中历史新高，此前其子公司 PayPay 提交了在美国股市上市的草案 注册文件。"有观点认为，软银公司的市值将因 PayPay 的首次公开募股而得到提升，这推动了对其股票 的购买，"Iwaicosmo证券公司分析师Tomoaki Kawasaki说道。软银公司的母公司软银集团的股价周一也 上涨了约 2.7%。其另一家子公司 LY 公司的股价也上涨了约 1.4%。软银集团周五发布的声明称，支付 应用 PayPay 在美国上市后仍将保持子公司身份。 ...

软银集团在周五的声明中表示，PayPay美国存托凭证上市的具体时间表、发行规模和定价尚未最终确 定。上市计划需视市场情况而定，并须通过美国证交会的审核程序。 近期软银集团持续通过资产证券化和愿景基金投资退出等方式，为孙正义在人工智能(AI)领域的新投资 筹措资金。这包括其近期追加出售的价值30亿美元的T-Mobile(TMUS.US)股票。 本月初有报道称，这家日本企业已为PayPay的美国IPO选定了承销投行。 声明强调，上市后PayPay仍将作为软银公司的子公司存在，预计此次IPO不会对软银集团的合并财报产 生实质性影响。 智通财经APP获悉，软银集团(SFTBY.US)旗下数字支付服务商PayPay Corp.已秘密提交在美上市申请草 案，此举或将催生日本首家估值突破百亿美元的"独角兽"企业。 据知情人士透露，软银集团为PayPay设定的估值目标为1.5万亿日元(约合100亿美元)以上。由于讨论内 容尚未公开，这些人士要求匿名。汇编数据显示，如果成功上市，这将成为日本企业在美国证券交易所 规模最大的IPO项目。 持有PayPay股份的软银公司(SoftBank Corp.)在非工作时间未立即回应置评请求 ...

Core Viewpoint - The Japanese stock market has recently reached historical highs, driven by factors such as lower-than-expected tariffs, a surge in the technology sector, and increased military spending [1][10][14]. Group 1: Market Performance - The Nikkei 225 index closed at approximately 42,718 points on August 12, marking a 2.2% increase and a historical high, while the TOPIX index rose about 1.4% to 3,066-3,067 points [1]. - The Nikkei 225 ETF (513880) has surged nearly 6% over the past seven trading days, with a net value of 1.484 [1]. - Foreign investors have recently turned net sellers of Japanese stocks and futures for the first time in 16 weeks, selling 342 billion yen (approximately 2.3 billion USD) [13]. Group 2: Sector Performance - The technology sector has been a key driver of the recent market rally, with significant gains in semiconductor equipment companies like Advantest and Lasertec, both rising by 6-7% [7]. - SoftBank's stock surged approximately 6.9%, reaching a historical high, amid discussions of its plans to list its payment application PayPay in the U.S. [7]. - The automotive sector, previously impacted by tariff concerns, has shown signs of recovery, with major manufacturers like Mazda and Subaru seeing stock increases of about 4.1% and 3.6%, respectively [10]. Group 3: Economic Factors - The easing of tariff uncertainties has positively impacted the Japanese market, with the U.S. agreeing to lower tariffs on Japanese automobiles and parts to 15% [10]. - The U.S. has also extended the suspension of tariffs on Chinese goods, further alleviating pressure on Japanese exports [10]. - The overall profit outlook for Japanese companies remains cautiously optimistic, with expectations of profit growth despite a slight decline projected for the fiscal year 2025 [14]. Group 4: Future Outlook - Major international investment banks believe the Japanese bull market is not over, although some investors are becoming cautious [13]. - Stock buybacks have been announced by several companies, including Canon and Asahi Group, which could provide additional market momentum [13]. - Goldman Sachs has raised its target for the TOPIX index from 3,000 to 3,200 points, citing clarity in U.S.-Japan trade agreements and rising expectations for U.S. Federal Reserve rate cuts as key drivers [14].

格隆汇8月11日｜据路透引述消息人士称，日本软银集团已选定银行安排日本电子支付工具PayPay最快 在第四季于美国上市，集资逾20亿美元。据悉，牵头今次IPO的投行包括高盛、摩通、瑞穗金融集团及 大摩。 ...

（图片来源：摄图网） 日本长期以来以"现金为王"的理念著称，但近年来无现金支付的比例正在逐步上升。该国政府最新数据显 示，日本的无现金支付比例已从2010年的13.2%增长至2024年的42.8%，首次突破40%，提前一年实现了政 府设定的2025年目标。增长主要得益于二维码支付的快速普及以及信用卡支付的持续增长。其中，二维码支 付(如PayPay)正在崛起，但信用卡支付仍然是主流，2024年信用卡支付总额达到116.9万亿日元。 尽管日本长期以来以"现金为王"著称，但随着无现金支付比例的快速上升，央行数字货币(CBDC)的开发和 测试已成为日本金融体系数字化转型的重要组成部分。 2023年起，日本央行正式启动数字日元的试点项目，与私营企业合作，测试CBDC在实际支付场景中的应 用。 从数字货币布局来看，过去几年，各国/地区央行也纷纷开启了对央行数字货币的可行性讨论、研发或实证 实验，但仍有部分国家尚未发行数字货币。各国发行或计划发行的央行数字货币具备不同特征，差异性来源 于应用领域、所采用的技术等。 香港大学亚洲全球研究院杰出研究员沈联涛指出，随着全球数字服务贸易持续增长，使用数字货币正成为趋 势，央行数字 ...

Core Viewpoint - The article emphasizes the growth potential of Japanese telecom operators in emerging B2B businesses and international expansion, particularly focusing on NTT's strategies and performance in these areas [1][2][3]. Group 1: Emerging Business Strategies - Japanese telecom operators, including NTT, KDDI, and Softbank, are increasingly investing in B2B services, cloud computing, and data centers, with NTT leading in international business expansion [2][3]. - NTT has established NTT DATA to manage its emerging business, which includes system integration, cloud services, and global data center services [2][3]. - NTT DATA has expanded internationally through acquisitions, including the purchase of Verio in 2000 and Dell's IT services division in 2016, and operates over 150 data centers globally with a total load exceeding 1,400 MW [2][3]. Group 2: Traditional Business and Regulatory Environment - The traditional telecom business in Japan faces significant regulatory pressures, leading to a decline in mobile ARPU, which has been decreasing since 2021 due to government calls for lower pricing [3][30]. - Japanese telecom operators are diversifying into value-added services, including digital content, lifestyle services, and financial services, to stabilize revenue amid declining ARPU [3][38]. - The regulatory environment encourages fair competition and restricts excessive pricing and subsidies, impacting the operators' pricing strategies [30][35]. Group 3: Financial Performance and Growth - NTT's revenue from global solutions, primarily B2B services, has shown a CAGR of 9% from FY20 to FY23, while traditional communication revenue has only grown at 1% [16][45]. - The overall revenue growth for Japanese telecom operators has been steady, with NTT and KDDI achieving CAGRs of 2.0% and 4.0% respectively from FY10 to FY23 [45][47]. - NTT's capital expenditure is shifting towards emerging businesses, with plans to invest approximately 12 trillion yen from FY23 to FY27, focusing on digital transformation, AI, and data centers [50][53].