Announcement of dividend receipt from a consolidated subsidiary
SOFTBANK CORP. (“the Company”) announced that it today received dividend from SOFTBANK Holdings Inc. (Head Office: Delaware, USA; Representative: Ronald Fisher; hereafter “SBH”), its wholly-owned subsidiary. The details are as follows
1. Outline
(1) Amount of dividend received: $86 million
(Approx. 10.1 billion yen; converted amount in yen at an exchange rate of 117.64 yen / $ on December 22, 2005)(2) Date of dividend receipt: December 22, 2005
2. Impact both on Stand-alone and Consolidated financial results
As a result of the above-mentioned transaction, the Company expects to record dividend income of 10.1 billion yen in the 3rd quarter of the fiscal year ending March 2006, as non-operating profit, which will result in the increase of 6 billion yen in net profit after deducting 4.1 billion yen of tax expenses, in stand-alone accounting.
On the other hand, dividend income will be eliminated in consolidated accounting. Therefore the Company expects to record 4.1 billion yen of tax expenses, resulting in decrease of the same amount in net profit.
The above tax expenses are tentatively calculated by multiplying dividend income with the effective tax rate of 40.69%.)
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