Transfer of Shares Held by SOFTBANK CORP. to its Wholly-owned SubsidiaryMar. 27, 2008
SOFTBANK CORP. (hereinafter ‘The Company’) announces that it has passed a resolution to transfer shares held by the Company as stated below.
1. Reason for transfer
As part of the business strategies of the SOFTBANK Group, the Company transfers a part or all of the shares of 3 companies held by the Company to SBBM Corporation, a wholly-owned subsidiary of the Company.
2. Details of the shares to be transferred
|Name||Yahoo Japan Corporation||INVOICE INC.||M.P.Technologies, Inc|
|Number of shares held before transfer||24,853,824 shares
|Number of shares to be transferred||557,620 shares||450,857 shares||8,595 shares|
|Number of shares to be held after transfer||24,296,204 shares
3. Transferee of the shares
|(1)Corporate name||SBBM Corporation|
|(3)Address of the head office||1-9-1, Higashi-shimbashi, Minato-ku, Tokyo|
4. Schedule of transfer
|Date of conclusion of Agreement of Share||March 27, 2008|
|Transfer Date of transfer||March 27, 2008|
5. Impact on business results
Associated with this transfer of shares, the Company estimates to record approximately JPY 29.8 billion of profit on sale of shares of affiliated companies as special income, approximately JPY 0.3 billion of loss on sale of shares of affiliated companies as special loss and approximately JPY 1.7 billion of valuation loss on investment securities in the closing results for FY2007 ending in March 2008 on non-consolidated basis. As for the closing results on consolidated basis, the aforementioned gain/loss on sale of shares of affiliated companies will balance each other as out internal transactions.
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