SOFTBANK reports gain on sale of shares of Yahoo Japan Corporation

March 10, 2003

SOFTBANK CORP. reports that the offering price and gain of sale of shares of Yahoo Japan Corporation (Head office: Minato-ku, Tokyo; President & CEO: Masahiro Inoue; hereinafter called “Yahoo! JAPAN”) have been decided. SOFTBANK CORP. previously announced on March 3, 2003 that it would sell a part of its holding in Yahoo! JAPAN.

40,000 shares ^* in total will be sold in a secondary offering, and the offering price was set at 1,440,600 yen. The price less underwriters’ commission is 1,381,800 yen, and aggregate proceeds from the sale are 55.2 billion yen. As a result, gain on sale of investments in affiliates of 20.2 billion yen (before tax) would be recognized on a stand-alone basis, and gain on sale of investment securities of 52.6 billion yen (before tax) would be recognized on a consolidated basis in this fiscal year.

* SOFTBANK will sell 15,000 shares and its fully-owned subsidiary, SOFTBANK BB Corp. will sell 25,000 shares of Yahoo! Japan.

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