Press Releases 2010

Recognition of Special Income (Non-consolidated)

April 2, 2010

SOFTBANK CORP. (hereafter “the Company”) sold a part of its shares held in Yahoo Japan Corporation and all of its shares held in SOFTBANK Holdings (Europe) Ltd. to SBBM Corporation, a consolidated subsidiary of the Company. Associated with this transaction between the consolidated companies, the Company recorded special income on a non-consolidated basis.
There will be no impact on the Company's consolidated earnings results as this transaction is between the consolidated companies.
Along with this transaction, the ownership ratio of each company has moved between the consolidated companies; however there is no change for the ownership of the Company on a consolidated basis. Details are as follows.

1. Summary

As part of the financial strategies of the SOFTBANK Group, the Company sold a part of its shares held in Yahoo Japan Corporation and all of its shares held in SOFTBANK Holdings (Europe) Ltd. to SBBM Corporation, a consolidated subsidiary of the Company. As a result of this transaction, the Company estimates to record approximately JPY 51.2 billion of special income on a non-consolidated basis.

2. Details of the Ownership of the Shares

(1) Yahoo Japan Corporation

a) Before the transaction

OwnerNumber of Shares Held
(shares)
Ownership Ratio
(%)
SOFTBANK CORP. 23,567,204 40.55
SBBM Corporation 793,669 1.37
SOFTBANK BB Corp. 94,000 0.16
Total 24,454,873 42.08

b) After the transaction

OwnerNumber of Shares Held
(shares)
Ownership Ratio
(%)
SOFTBANK CORP. 22,435,064 38.60
SBBM Corporation 1,925,809 3.31
SOFTBANK BB Corp. 94,000 0.16
Total 24,454,873 42.08
[Note]
  • *Ownership ratio was calculated based on the shares issued as of February 10, 2010. (58,114,811 shares)

(2) SOFTBANK Holdings (Europe) Ltd.

a) Before the transaction

OwnerNumber of Shares Held
(shares)
Ownership Ratio
(%)
SOFTBANK CORP. 7,884,183 100.0
SBBM Corporation
Total 7,884,183 100.0

b) After the transaction

OwnerNumber of Shares Held
(shares)
Ownership Ratio
(%)
SOFTBANK CORP.
SBBM Corporation 7,884,183 100.0
Total 7,884,183 100.0

3. Outline of SBBM Corporation

(1) Representative Ken Miyauchi
(2) Business description Holding company
(3) Address of the head office 1-9-1, Higashi-Shimbashi, Minato-ku, Tokyo
(4) Foundation March, 2000
(5) Shareholder SOFTBANK CORP. (100%)

4. Date of Sale of Shares

March 26, 2010

5. Impact on Financial Results

Associated with this sale of shares to SBBM Corporation, the Company estimates to record approximately JPY 51.2 billion of profit on sale of shares of affiliated companies as special income for the fiscal year ended March 31, 2010 on a non-consolidated basis.
As for the financial results on consolidated basis, the aforementioned gain on sale of shares of affiliated companies will balance each other out as internal transactions, therefore there will be no impact to the results.

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