SOFTBANK announces a sale of its shares and warrants held in eAccess Ltd.
SOFTBANK CORP. (the “Company”) announces that its wholly-owned subsidiary, JAPAN TELECOM CO., LTD. (Head office: Chuo-ku, Tokyo; President & CEO, Representative Executive Officer: Hideki Kurashige; “JAPAN TELECOM”) decided to sell its all shares and warrants held in eAccess Ltd. (Head office: Minato-ku, Tokyo; Representative: Sachio Semmoto; “eAccess”) at a Board of Directors meeting held on October 4, 2004.
JAPAN TELECOM will sell 166,670 shares and 11,852 warrants (equivalent to 59,260 shares) held in eAccess and proceeds from the sale will be allocated for its business operation and other purposes.
Amount of proceeds and impact of the sale on the Company’s earnings results will be announced once such amounts are fixed.
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