Press Releases 2001

Announcement Regarding Revision of
Non-consolidated Interim Results Forecast

Oct. 26, 2001

We have revised our projected non-consolidated results, which were made public at our announcement of financial statements on May 25, 2001, for the interim period from April 1, 2001 to September 30, 2001 (hereinafter referred to as the “Interim Period”), as follows:

1. Revisions to the Non-consolidated Results Forecast for the Interim Period

Unit: Millions of yen
  Sales Ordinary Income Net Income
Formerly announced forecast (A) - 2,000 1,000
Revised forecast (B) - (3,100) (9,700)
Difference (B-A) - (5,100) (10,700)
Percentage change (%) - - -
Results for the previous interim period (ended September 30, 2000) (For reference) - (605) (824)

As for the projected non-consolidated results for the fiscal year ending March 31, 2002, which were made public on May 25, 2001, we have revised as follows:

Unit: Millions of yen
  Sales Ordinary Income Net Income
Formerly announced forecast (A) - 5,000 2,500
Revised forecast (B) - (3,500) (9,900)
Difference (B-A) - (8,500) (12,400)
Percentage change (%) - - -
Results for the previous fiscal year (ended March 31, 2001) (For reference) - 7,904 4,808

2. Reasons for Revision

Due to the partial sale of SB Sweden AB shares, loss on sales of investment securities of approximately 12,700 million yen will be recognized as special loss for the Interim Period. The main purpose of such sale is to gather all overseas capital to SOFTBANK Holdings Inc. (“SBH”) of the United States, a wholly-owned subsidiary, and to make SBH supervise the whole overseas fund operations. The above-mentioned sale does not result in loss on sales of investment securities on a consolidated basis since such transaction will be carried out among our consolidated companies.

3. Non-consolidated results forecast for the fiscal year 2002

Due to the above-mentioned sale of SB Sweden AB shares, net income for the fiscal year 2002 is expected to decrease. However, as such decrease resulting from SB Sweden AB share sale is a one-time event, we plan to pay dividend for the fiscal year 2002.

Reference

Summary of SB Sweden AB

Official Company Name SB Sweden AB (Headquarters: Stockholm, Sweden)
Director Masayoshi Son
Capital US$12,000 (100% contributed by the Company)
Business Activities Foreign investments, mainly in Europe and the United States
Main Investments SOFTBANK Capital Partners Investment Inc.
(Headquarters: Delaware, U.S.A.)

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