Press Releases 2006

Vodafone K.K. became a wholly-owned subsidiary of BB Mobile Corp.

Aug. 15, 2006

SOFTBANK CORP. (“SOFTBANK”) announced that its wholly-owned subsidiary BB Mobile Corp. (Head office: Minato-ku, Tokyo; Representative; Masayoshi Son; hereinafter “BBM”) and its subsidiary Vodafone K.K. (Head office: Minato-ku, Tokyo; Representative: Masayoshi Son; hereinafter “VKK”) today completed the share exchange which had been carried out in accordance with Share Exchange Agreement concluded on July 4, 2006.

As a result of the completion of the share exchange, all of VKK shares owned by shareholders except BBM were transferred to BBM. In accordance with the share exchange, cash delivery shall be made by BBM to VKK’s shareholders in lieu of the issuance of shares.

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