SOFTBANK ANNOUNCES PARTIAL SALE OF SOFTBANK TECHNOLOGY
Tokyo, Japan, March 31, 2000 - SOFTBANK CORP. (TSE: 9984) announced that it sold 197,500 of the 2,320,000 shares held in SOFTBANK TECHNOLOGY CORP. (J.OTC: 4726). Following the transaction, SOFTBANK’s stake in SOFTBANK TECHNOLOGY declined from 68.82% to 62.96%.
SOFTBANK raised approximately 30.51 billion yen through the current sale of SOFTBANK TECHNOLOGY shares. The resulting capital gain that SOFTBANK will record is approximately 30.5 billion yen.
The sale of SOFTBANK TECHNOLOGY shares was aimed at further improving liquidity as well as the distribution of shares among investors. SOFTBANK does anticipate that the one-time capital gain, 30.5 billion yen, recorded on the sale of shares will have a material effect on both the parent as well as the consolidated group’s results. SOFTBANK will release earnings forecasts as soon as they are finalized.
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SOFTBANK FINANCE CORPORATION
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