SoftBank rebranded their Nakameguro shop to be half SoftBank and half Y! Mobile, previously Yahoo Mobile, which is their low-end brand. This surprises me because this is a relatively tony area. I assume it is due to government pressure on mobile service pricing.
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(The government exercised some light suasion on Docomo, the biggest provider which was previously a unit of the national carrier NTT, and Docomo basically immediately instituted a X0% price cut.)
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The economics of cell phone retail are fascinating if you’ve never looked into them, by the way. This SoftBank store is not owned or operated by SoftBank; it is (effectively) a captured sales agent that has a stock of iPhones they will happily sell you and a login to SoftBank.
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SoftBank pays for your iPhone when you contract with them, sells the iPhone receivable to someone, and pays the store a commission for getting another customer on the X plan on a 2 year contract.
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If you’re thinking “Hmm this sounds like something Wall Street would love” they’re way ahead of you:https://www.google.co.jp/amp/s/www.marketwatch.com/amp/story/guid/B359CD4A-7C49-11E6-B9F7-409A1DD77891 …
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Replying to @patio11
I think more than anything this demonstrates investor appetite for safe assets that earn interest.
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Replying to @TheKanter @patio11
Also I wonder whether they are tranches and how you analyze default risk. Can I see the pool of plan subscribers?
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The deals I’ve seen are tranchef and they report e.g. average FICO but likely not row-level data on borrowers.
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