SOFTBANK announces merger with its subsidiary

April 28, 2004

SOFTBANK CORP. announces that its board of directors resolved today merger with its wholly-owned subsidiary,SOFTBANK TECHNOLOGY HOLDINGS CORP. through a simplified merger procedure on June 18,2004.

1. Purpose of merger

To promote management concentration in the Technology Services segment of the SOFTBANK Group.

2. Outline of merger

(1) Merger schedule

Board of Directors meeting to approve merger agreement		April 28,2004
Signing of merger agreement		April 28,2004
General shareholder’s meeting to approve merger agreement	SOFTBANK CORP.	Not to be held in accordance with the simplified merger procedures in Article 413-3-1 of the Commercial Code.
General shareholder’s meeting to approve merger agreement	SOFTBANK TECHNOLOGY HOLDINGS CORP.	May 13,2004(planned)
Effective date of merger		June 18,2004 (planned)
Official registration of merger		June 18,2004 (planned)

(2) Method of merger

SOFTBANK CORP.,as an ongoing concern,shall absorb SOFTBANK TECHNOLOGY HOLDINGS CORP.,which shall be subsequently dissolved.

(3) Merger ratio and delivered money due to merger

Due to the fact that SOFTBNAK TECHNOLOGY HOLDINGS CORP. is a wholly-owned subsidiary of SOFTBANKCORP.,there shall be no issuance of new shares or cash payment upon this merger.

3. Outline of companies concerned

as of September 30,2003
(1) Trade name	SOFTBANK CORP. (Surviving company)	SOFTBANK TECHNOLOGY HOLDINGS CORP. (Company which shall be absorbed)
(2) Type of business	Pure holding company of the SOFTBANK Group which is engaged in Broadband Infrastructure,e-Commerce and e-Finance businesses,etc.	Operation holding company of the Technology Services Segment including System Solutions business and Business Solutions business of the SOFTBANK Group
(3) Established	September 3,1981	October 2,2000
(4) Location of head office	24-1,Nihonbashi-Hakozakicho,Chuo-ku,Tokyo	13-1,Nishigokencho,Sinjyuku-ku,Tokyo
(5) Representative	President & CEO, Masayoshi Son	President & CEO, Norikazu Ishikawa
(6) Common stock	137,958 million yen	111 million yen
(7) Shares outstanding	336,936,826 shares	2,175 shares
(8) Shareholders’ equity	340,175 million yen	637 million yen
(9) Total assets	721,492 million yen	763 million yen
(10) Settlement of accounts	March 31	March 31
(11) Number of employees	68	4
(12) Main customers	-	SOFTBANK BB Corp. SOFTBANK TECHNOLOGY CORP.
(13) Principal shareholders and ownership ratios	Masayoshi Son 32.85% Japan Trustee Services Bank,Ltd. 2.49% Cedel International 1.70% Japan Securities Finance Co.,Ltd. 1.63% The Master Trust Bank of Japan,Ltd. 1.61%	SOFTBANK CORP. 100.00%
(14) Main financing Banks	Mizuho Corporate Bank,Ltd. UFJ Trust Bank Limited UFJ Bank Limited Sumitomo Mitsui Banking Corporation	Mizuho Corporate Bank,Ltd.
(15) Relationships between companies concerned	Capital SOFTBANK TECHNOLOGY HOLDINGS CORP. is a wholly-owned company of SOFTBANK CORP. Personnel One employee of SOFTBANK CORP. serves as a director of SOFTBANK TECHNOLOGY HOLDINGS CORP. One employee of SOFTBANK CORP. serves as a auditor of SOFTBANK TECHNOLOGY HOLDINGS CORP. Transactions Financial transaction

(16) Business result for the most recent three years

unit: millions of yen
	SOFTBANK CORP. (Surviving company)			SOFTBANK TECHNOLOGY HOLDINGS CORP. (Company which shall be absorbed)
Settlement of accounts	March 31, 2001	March 31, 2002	March 31, 2003	March 31, 2001	March 31, 2002	March 31, 2003
Net sales	-	-	-	12	28	284
Operating income	−4,465	−4,592	−4,149	−54	−100	−111
Ordinary income	7,904	2,636	2,882	−52	−100	−70
Net income	4,808	−31,888	−35,568	−53	−788	−425
Net income per share (yen)	14.50	−94.68	−105.59	−24,546.74	−362,313.95	−195,456.34
Cash dividend per share (yen)	7	7	7	0	0	0
Shareholders’ equity per share (yen)	1,172.75	1,074.58	953.78	946,718.48	584,404.52	390,096.74

4. Post-merger information

(1) Trade Name	SOFTBANK CORP.
(2) Type of business	Pure holding company of the SOFTBANK Group which is engaged in Broadband Infrastructure,e-Commerce and e-Finance businesses,etc.
(3) Location of head office	24-1,Nihonbashi-Hakozakicho,Chuo-ku,Tokyo
(4) Representative	President & CEO,Masayoshi Son
(5) Common stock	The merger shall not increase SOFTBANK CORP.’s common stock.
(6) Total assets	The merger shall have negligible effect on SOFTBANK CORP.’s total assets.
(7) Settlement of accounts	March 31
(8) Impact on business results	The merger shall have negligible effect on SOFTBANK CORP.’s results.

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