Recognition of Special Income

RNS Number : 6998J

Softbank Corp

02 April 2010

 



April 2, 2010

Recognition of Special Income (Non-consolidated)

SOFTBANK CORP. (hereafter "the Company") sold a part of its shares held in Yahoo Japan Corporation and all of its shares held in SOFTBANK Holdings (Europe) Ltd. to SBBM Corporation, a consolidated subsidiary of the Company.  Associated with this transaction between the consolidated companies, the Company recorded special income on a non-consolidated basis.

There will be no impact on the Company's consolidated earnings results as this transaction is between the consolidated companies.

Along with this transaction, the ownership ratio of each company has moved between the consolidated companies; however there is no change for the ownership of the Company on a consolidated basis.  Details are as follows.

1.   Summary

As part of the financial strategies of the SOFTBANK Group, the Company sold a part of its shares held in Yahoo Japan Corporation and all of its shares held in SOFTBANK Holdings (Europe) Ltd. to SBBM Corporation, a consolidated subsidiary of the Company.  As a result of this transaction, the Company estimates to record approximately JPY 51.2 billion of special income on a non-consolidated basis.

2.   Details of the Ownership of the Shares

(1) Yahoo Japan Corporation

　　　a) Before the transaction

Owner	Number of Shares Held (shares)	Ownership Ratio (%)
SOFTBANK CORP.	23,567,204	40.55
SBBM Corporation	793,669	1.37
SOFTBANK BB Corp.	94,000	0.16
Total	24,454,873	42.08

　　　b) After the transaction

Owner	Number of Shares Held (shares)	Ownership Ratio  (%)
SOFTBANK CORP.	22,435,064	38.60
SBBM Corporation	1,925,809	3.31
SOFTBANK BB Corp.	94,000	0.16
Total	24,454,873	42.08

　 (Note) Ownership ratio was calculated based on the shares issued as of February 10, 2010. (58,114,811 shares)

(2) SOFTBANK Holdings (Europe) Ltd.

　　　a) Before the transaction

Owner	Number of Shares Held (shares)	Ownership Ratio (%)
SOFTBANK CORP.	7,884,183	100.0
SBBM Corporation	-	-
Total	7,884,183	100.0

　　　b) After the transaction

Owner	Number of Shares Held (shares)	Ownership Ratio (%)
SOFTBANK CORP.	-	-
SBBM Corporation	7,884,183	100.0
Total	7,884,183	100.0

3.   Outline of SBBM Corporation

(1)        Representative: Ken Miyauchi

(2)        Business description: Holding company

(3)        Address of the head office: 1-9-1, Higashi-Shimbashi, Minato-ku, Tokyo

(4)        Foundation: March, 2000

(5)        Shareholder: SOFTBANK CORP. (100%)

4.   Date of Sale of Shares

March 26, 2010

5.   Impact on Financial Results

Associated with this sale of shares to SBBM Corporation, the Company estimates to record approximately JPY 51.2 billion of profit on sale of shares of affiliated companies as special income for the fiscal year ended March 31, 2010 on a non-consolidated basis.

As for the financial results on consolidated basis, the aforementioned gain on sale of shares of affiliated companies will balance each other out as internal transactions, therefore there will be no impact to the results.

 

END

 

 

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