Comments on certain media coverageNov. 22, 2006
Certain news media on November 22, 2006 covered about SOFTBANK AM CORPORATION (“SBAM”), a wholly-owned subsidiary of SOFTBANK CORP.(“SOFTBANK”).
Normal income tax inspection of SBAM (former SOFTBANK FINANCE CORPORATION) for the fiscal year ended March 2005 was conducted and certain transactions were pointed out. Even though disagreement remains between the tax authority and SBAM, SBAM followed the authority’s instruction, and revised its income report. The points made by the authority were about several carry-overs and asset evaluation. No payment of back taxes or heavy additional tax is required to SBAM.
SOFTBANK expects impacts neither on stand-alone financial results of SBAM nor on consolidated financial results of SOFTBANK.
- *SBAM has changed its company name to SOFTBANK TELECOM SALES Corp. on October 2006 along with its business change.
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