Announcement of Selling of SOFTBANK INTERNET TECHNOLOGY FUNDS 1 and 2Jun. 15, 2005
SOFTBANK CORP. hereby announces that SOFTBANK FINANCE CORPORATION (Head office: Minato-ku, Tokyo; Representative Director: Yoshitaka Kitao), our wholly owned subsidiary, has sold all the units of both SOFTBANK INTERNET TECHNOLOGY FUNDS 1 and 2, as follows. The net proceeds will be applied to our business fund and others.
1. Outlines of the sale
|(1)Units of contribution sold||
|(2) Sales price||50.5 billion yen in total|
|(3) Buyer||SOFTBANK INVESTMENT CORPORATION|
2. Effect on consolidated financial results
Gains on sale of investment securities would be recognized approximately 9.8 billion yen on a consolidated basis in the 1st quarter of the fiscal year ending March 31, 2006.
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