Press Releases 2002

SOFTBANK announces a partial sale of its holding in Yahoo! Inc.

Aug. 29, 2002

SOFTBANK CORP. announces that its wholly owned subsidiary, SOFTBANK America Inc. (Headquarter: Delaware, U.S.A., Representative: Masayoshi Son, hereinafter called ‘SBA”) sold a part of its holding in Yahoo! Inc. (hereinafter called “Yahoo”).

SBA sold 30,000,000 shares of Yahoo, for an aggregate price of approximately US$270 million (translated amount in yen: approximately 32.2 billion yen; exchange rate: $1=119 yen). Gain on sale of such shares is expected to be approximately 15.8 billion yen. SBA’s stake in Yahoo is expected to decrease from approximately 14% to approximately 9% after the transaction.

Proceeds from the above-mentioned sale will be allocated for reduction of interest-bearing debt in order to further strengthen the financial position and for the broadband business, which SOFTBANK as a group is developing vigorously, and other businesses.

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