Public Listing of SKY Perfect Communications Inc.Oct. 20, 2000
On October 20, SKY Perfect Communications Inc. (SKY Perfect below; main office in Shibuya-ku, Tokyo; Hajime Ugi, CEO), a company in which SOFTBANK CORP. is an equity participant via its wholly owned broadcast media operations management subsidiary SOFTBANK Broadmedia Corporation (Broadmedia below; main office in Chuo-ku, Tokyo; Taro Hashimoto, President & CEO), was listed on the Mothers (Market of the High Growth & Emerging Stocks) Section of the Tokyo Stock Exchange (code No. 4795).
With the listing of SKY Perfect, SOFTBANK CORP. sold 45,000 of the shares it owns in SKY Perfect via Broadmedia (approximately 25% of the shares owned prior to the listing). As SKY Perfect’s initial offering price was 320,000 yen, the aggregate amount of the sale was approximately 14.4 billion yen, and SOFTBANK CORP. realized net proceeds from the sale of these investment securities of approximately 11.4 billion yen. With this sale, SOFTBANK CORP.’s shareholdings of Sky Perfect via Broadmedia declined from 182,000 shares to 137,000 shares, and SOFTBANK CORP.’s equity ratio in SKY Perfect declined from approximately 9.90% to approximately 6.12% (after the offering).
SOFTBANK CORP.’s investments in SKY Perfect (prior to the offering) totaled approximately 9.1 billion yen, and based on the closing price of 255,000 yen on the first day of trading, SOFTBANK CORP.’s remaining shareholdings in SKY Perfect have a total market value of approximately 34.9 billion yen.
SOFTBANK CORP.’s final net income in its accounting statements for the current fiscal year has not yet been confirmed, and these figures will be reported when they are nearly finalized.
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