SOFTBANK announces dissolution of its subsidiary
SOFTBANK CORP. (the “Company”) announces that SOFTBANK FINANCE COPORATION (Head office: Minato-ku, Tokyo; Representative: Yoshitaka Kitao; SBF), a wholly-owned subsidiary of the Company, decided the dissolution of SOFTBANK Finance America Corporation (“SBFA”), a subsidiary of SBF. The Company also announces that SOFTBANK INVESTMENT CORPORATION (Head office: Minato-ku, Tokyo; Representative: Yoshitaka Kitao; SBI), a subsidiary of SBF, decided the dissolution of SOFTBANK INVESTMENT AMERICA CORPORATION (“SBIA”), a subsidiary of SBI.
1. Dissolution of SOFTBANK Finance America Corporation
(1) Outline of the Subsidiary
| Trade name | SOFTBANK Finance America Corporation |
| Address | Delaware, U.S.A. |
| Representative | President: Robert Takeuchi |
| Type of business | Asset management |
| Established | July 1999 |
| Common stock | 10 U.S. dollars |
| Shareholder | SBF 100% |
| Schedule of dissolution | March 2005 (expected) |
(2) Reasons for the dissolution
SBFA has gathered and provided information to SBF regarding its investment destination companies in the U.S.A. SBF will manage the business in the future instead of SBFA and decided the dissolution to make the group’s business more efficient.
2. Dissolution of SOFTBANK INVESTMENT AMERICA CORPORATION
(1) Outline of the Subsidiary
| Trade name | SOFTBANK INVESTMENT AMERICA CORPORATION |
| Address | Delaware, U.S.A. |
| Representative | President: Robert Takeuchi |
| Type of business | Asset management |
| Established | August 1996 |
| Common stock | 100 U.S. dollars |
| Shareholder | SBI 100% |
| Schedule of dissolution | March 2005 (expected) |
(2) Reasons for the dissolution
SBIA was established for the purpose of providing support to SBI’s investment activities in the U.S.A. However, SBI decided the dissolution to make the group’s business more efficient since SBI currently manages the business itself.
3. Impact on business results
The dissolution shall have negligible effect on the Company’s results.
-
Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SoftBank Group Corp. or the applicable group company, as the case may be. Such information is subject to change and may become out-of-date. Such information may also contain forward-looking statements which are by their nature subject to various risks and uncertainties that may cause actual results and future developments to differ materially from those expressed or implied by such statements. Please read legal notices in its entirety prior to viewing any information available on this website.
