Softbank chairman reiterates opposition to nuclear energy

By Yoon Ja-young

Softbank, Japan’s leading telecom and Internet company, aims to be the global top 10 company in the IT industry in 30 years, said its chairman, Masayoshi Son, a third-generation Korean.

He also voiced opposition to nuclear energy and said that he will support the development of renewable energy.

“Softbank has devoted itself to the information revolution since its launch, but there was a tragedy in Japan three months ago. It rattled my life philosophy,” he said, referring to the earthquake and tsunami that hit Japan in March.

Son said that he learned that the information revolution is impossible without electricity but that people are relying too much on nuclear energy.

“I persuaded heads of local Japanese governments to join the alliance for renewable energy. Korea may be safer than Japan in terms of an exposure to earthquakes, but I want to point out that major nuclear accidents were all caused by human factors,” he said.

Son gave a keynote speech at the Global Green Growth Summit held in Seoul Monday morning. He then had a meeting with President Lee Myung-bak. He said that President Lee agreed that fossil energy is becoming expensive. Renewable energy, meanwhile, will become cheaper, he said.

“Though Softbank is virtually an amateur in the sector, we hope to contribute to the development of renewable energy with our Internet technology.”

Vision for Softbank

Son is a success story of Japan’s digital era and one of the most respected IT leaders in the world.

After setting up Softbank in 1981, he nurtured it into the third biggest business in Japan in terms of profit through bold decisions such as acquiring Comdex for $800 million in 1995, setting up Yahoo! Japan in 1996, providing ADSL services in 2001, and buying Vodafone K.K. for 1.75 trillion yen in 2006.

Son, who has 1.2 million Twitter followers, said that after doing a survey on his followers, he found that the saddest thing in people’s life is loneliness.

The happiest thing, meanwhile, was related to being touched by something. He said that he thus believes in the principle of making the information revolution bring happiness to everyone.

Son pointed out that people first opposed the adoption of machines during the industrial revolution of 300 years ago due to fears of losing jobs. However, now people regard machines as tools that help them prosper. He said that there will be another huge change in the next 300 years.

“I think currently we are at the beginning of the information big bang,” he said. The chairman expected that transistors will copy the human brain in 2018. And 300 years from now, robots will have super intelligence, and save people from disasters and provide emergency medical services. “They will help solve problems that people could not solve, such as natural disasters, terrorism and unknown viruses.”

“Softabank’s commitment to the future is to achieve an information revolution leading to people’s happiness,” he said.

Son said that Softbank aims to be among the global top 10 in terms of market capitalization in 30 years with 200 trillion yen, or $2.3 trillion.

He said Softbank has chosen different strategies of multiple brands, web organization, and balanced decision-making. “There are Mitsubishi Motor, Mitsubishi Bank, Mitsubishi Chemical in Japan, all using the Mitsubishi brand.

It is the same thing in Korea, Samsung, Samsung, Samsung and LG, LG, LG. But it isn’t so with Softbank. Each business uses its own brand,” Son said. Softbank currently has around 800 Internet companies around the world, including investment in Chinese Internet businesses such as Alibaba.com and Renren.com.

It has invested in 127 Korean companies as well, and recently announced the setting up of a joint venture with KT to run a data center in Korea.

He said that while the pyramid organization and centralized decision-making were typical of 20th century businesses, Web organization and balanced decision-making suit the Internet atmosphere where quick decision-making is crucial.

“Instead of using the Softbank brand for all, we are funding young entrepreneurs for new businesses. We will support them, but even if they fail, the other businesses of the Softbank Group won’t be at risk,” he said.

Softbank usually takes about 20 to 40 percent ownership in them, and the young entrepreneurs make their own decisions. “The multi-brand, multi-business model, with multi-headquarter, and multi-CEOs, I think it is a unique business organization strategy, perhaps the first of its kind in the world,” he added.