SOFTBANK to Complete Acquisition of JAPAN TELECOMJul. 29, 2004
SOFTBANK CORP. (“SOFTBANK”) has announced that it is to acquire all 143,855,424 issued and outstanding common shares of JAPAN TELECOM CO., LTD. (Head office: Chuo-ku, Tokyo; Director, President, and CEO: Hideki Kurashige; “JAPAN TELECOM”) on July 30, 2004.
As a result of the acquisition, JAPAN TELECOM will become a specified subsidiary (tokutei kogaisha) and a consolidated subsidiary of SOFTBANK. The balance sheet of JAPAN TELECOM will be consolidated from the end of first half of FY 2005 (fiscal year ending March 31, 2005) and its income statement will be consolidated into SOFTBANK’s results from the 3rd quarter of FY 2005.
(1) Outline of acquisition
|Method of acquisition||Acquire all 143,855,424 issued and outstanding common shares of JAPAN TELECOM|
|Acquisition price||Approximately 143.3 billion yen|
|Sellers||Six companies in total, including affiliate companies of Ripplewood Holdings L.L.C.|
(2) Consolidated Earnings Results of JAPAN TELECOM (FY 2004)
|Sales||347.2 billion yen|
|Operating Loss||0.2 billion yen|
|Ordinary Income||0.6 billion yen|
|Net Loss||50.6 billion yen|
|Capital||66.2 billion yen|
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