The announcement of dividends receipt from consolidated subsidiaryFeb. 27, 2006
SOFTBANK CORP. (“the Company”) today received dividends from SB TB Holding Limited (Head office: Cayman Islands of British Territory; Representative: Kazuko Kimiwada; hereinafter “SBTB”), a consolidated subsidiary of the Company. Dividends received is the year-end dividends from SBTB as its earnings results were settled for the latest business year, following the sale of a portion of its shareholdings in Tao Bao Holding Limited (Head office: Hong Kong, China; Representative: Jack Ma), a consolidated subsidiary of the Company, as announced in the press release dated October 24, 2005. The Company hereby announces the following information as the amount of dividends received falls under the timely disclosure standards on a stand-alone basis.
|(1) Amount of dividends||216 million US dollars
(approximately 25.1 billion yen: based on yen-dollar exchange rate of 116.46 yen, as of February 27, 2006)
|(2) Date of reception of dividends||February 27, 2006|
2. Impact on stand-alone earnings results of the Company
The Company expects to record approximately 25.1 billion yen in dividends received as non-operating income on a stand-alone basis, for the 4th quarter of the fiscal year ending March 31, 2006. As a result, the Company expects that the above-mentioned dividends receipt will contribute approximately 25.1 billion yen to non-operating income and approximately 14.9 billion yen to net income, after deducting tax expenses of approximately 10.2 billion yen, on a stand-alone basis.
On a consolidated basis, dividends received of 25.1 billion yen from a consolidated subsidiary will be eliminated as inter-company transaction.
(Reference: The estimated corporate income tax tentatively calculated by multiplying the above-mentioned amount of dividends received with the effective tax rate of 40.69%)
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