Announcement of restructuring charge relating to the BBTV business, a broadband TV broadcasting service business, along with diversification of video content delivery businessFeb. 10, 2006
SOFTBANK Group (hereafter “the Group”) runs BBTV, a broadband TV broadcasting service business, which provides the TV broadcasting and video on demand (VOD) services for Yahoo! BB ADSL and Yahoo! BB hikari service customers.
As announced on 19 December 2005, in order to reinforce the Group’s Internet video content service business, SOFTBANK CORP. (hereafter “the Company”) established TV Bank Corp. (Head Office: Minato-ku, Tokyo; Representative: Masayoshi Son) as a joint venture with Yahoo Japan Corporation (Head Office: Minato-ku, Tokyo; President and CEO: Masahiro Inoue) and started its operation, in December 2005.
Following the start-up of the new Internet video content service business, the Company reconsidered the future revenue generated from the use of the assets solely used in the BBTV business and revaluated those assets. The Company hereby announces that special loss was recorded as a result of this revaluation.
The Group still continues to promote the BBTV business and further improve its services to customers.
Following the new Internet video content service business, BB Cable Corporation (Head Office: Minato-ku, Tokyo; Representative: Ken Miyauchi; hereafter “BB Cable”), a wholly-owned subsidiary of the Company, SOFTBANK BB Corp. (Head Office: Minato-ku, Tokyo; Reprentative: Masayoshi Son; hereafter “SOFTBANK BB”), and BB TECHNOLOGY Corp. (Head Office: Minato-ku, Tokyo; Representative: Masayoshi Son; hereafter “BB TECHNOLOGY”), the three companies that operate the BBTV business, have reconsidered the future revenue generated from the use of the assets solely used in the BBTV business and revaluated those assets.
2. Impacts on consolidated financial results
In the 3rd quarter for the fiscal year ending March 31, 2006, restructuring charge relating to BBTV business of 14.7 billion yen was recorded as special loss, following the reconsideration of the future revenue generated from the use of the assets solely used in the BBTV business and revaluation on those assets.
|BB Cable||Approx.6.7 billion yen||Mainly broadcasting and streaming facilities|
|SOFTBANK BB||Approx 7.8 billion yen||Set-top boxes|
|BB TECHNOLOGY||Approx.100 million yen||Routers solely used for BBTV business|
The above figures are the results after the internal transaction adjustments undertaken for consolidated account settlement.
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