Press Releases 2006

Additional sale of shares held in SBI Holdings, Inc.

Aug. 2, 2006

SOFTBANK CORP. (“SOFTBANK”) announced that its wholly-owned subsidiary SOFTBANK AM CORPORATION (head office: Minato-ku, Tokyo; representative: Takashi Okubo; “SBAM”) sold all of its shares held in SBI Holdings, Inc. (head office: Minato-ku, Tokyo; representative: Yoshitaka Kitao, “SBI”) as follows:

1. Outline of the sale

(1) Shares sold 2,134,811.21 common shares of SBI
(2) Sold to Goldman Sachs (Japan) Ltd.
(to be resold to institutional investors)
(3) Proceeds of the sale to be determined
(4) Use of proceeds to repay for borrowings and finance businesses

2. Change in the Group’s shareholdings following the sale

  Equity interest ratio Number of shares held Total number of outstanding shares
Before the sale (as of August 1, 2006) 19.2% 2,134,811.21 shares 11,114,750.64 shares
After the sale (as of August 2, 2006) - % - shares 11,114,750.64 shares
  • *1Equity interest ratio before the sale is calculated by subtracting own shares held by SBI (including SBI shares held by affiliates of SBI).
  • *2The number of shares held before the sale represents indirect share interest by SBAM.
  • *3The total number of outstanding shares before the sale excludes own shares held by SBI (including SBI shares held by affiliates of SBI).

3. Impact on the consolidated financial results

SOFTBANK is currently unable to calculate the proceeds from the sale because such amount is affected by marketing performance to institutional investors by Goldman Sachs (Japan) Ltd. The amount will be separately disclosed as soon as it is finalized.

4. Others

Though the sale of shares has eliminated capital ties with SBI, SOFTBANK will maintain its friendly relationship with SBI through business partnerships and continue to work on developing a broadband society.

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