Complete Subsidiarization of BB Technologies CorporationAug. 5, 2002
SOFTBANK CORP. announces that we have completely subsidiarized BB Technologies Corporation (Headquarter: Chuo-ku, Tokyo; President&CEO: Masayoshi Son; hereinafter BBT), of which we owned 51% of equity as one of our consolidated subsidiaries, through the transfer of the rest of the BBT shares from six companies in our group listed below.
We acquired the BBT shares from our six group companies at face value.
We have acquired BBT as a 100% subsidiary in order to: 1) further clarify our commitments to the management of BBT, and 2) strengthen BBT’s independence and enhance its transparency in relation to our group companies including Yahoo Japan Corporation (Headquarter: Minato-ku, Tokyo; President&CEO: Masahiro Inoue; hereinafter Yahoo! JAPAN ), which is BBT’s main business partner in the “Yahoo! BB” project, a comprehensive broadband service. Regarding our commitment to BBT’s management, since we launched a full-scale operation of our broadband infrastructure business last year, we have positioned BBT as a core company for our broadband business in SOFTBANK Group. BBT is playing a leading role in the broadband infrastructure business. By making BBT a wholly-owned company, we aim to bring BBT and SOFTBANK closer together and achieve greater managerial efficiency.
We believe that our group companies including Yahoo! JAPAN will continue to be BBT’s important partners in the “Yahoo! BB” project regardless of whether a capital relationship exists or not. The acquisition will also clarify the role and capital relationship of each company. This will enable us to launch more dynamic business expansion. SOFTBANK Group hopes to improve its corporate value by positioning BBT, Yahoo! JAPAN, other group companies, and business partners as core players in the promotion of the broadband business.
Profile of BB Technologies Corporation before the acquisition
|Company Name||BB Technologies Corporation|
|Headquarter||24-1, Nihonbashi-Hakozakicho, Chuo-ku, Tokyo|
|Paid-in capital||3,000,000,000 yen|
|Type of business||
- Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SoftBank Group Corp. or the applicable group company, as the case may be. Such information is subject to change and may become out-of-date. Such information may also contain forward-looking statements which are by their nature subject to various risks and uncertainties that may cause actual results and future developments to differ materially from those expressed or implied by such statements. Please read legal notices in its entirety prior to viewing any information available on this website.