Additional sale of shares held in SBI Holdings, Inc.
SOFTBANK CORP. (“SOFTBANK”) announced that its wholly-owned subsidiary SOFTBANK AM CORPORATION (head office: Minato-ku, Tokyo; representative: Takashi Okubo; “SBAM”) sold all of its shares held in SBI Holdings, Inc. (head office: Minato-ku, Tokyo; representative: Yoshitaka Kitao, “SBI”) as follows:
1. Outline of the sale
| (1) Shares sold | 2,134,811.21 common shares of SBI |
|---|---|
| (2) Sold to |
Goldman Sachs (Japan) Ltd.
(to be resold to institutional investors) |
| (3) Proceeds of the sale | to be determined |
| (4) Use of proceeds | to repay for borrowings and finance businesses |
2. Change in the Group’s shareholdings following the sale
| Equity interest ratio | Number of shares held | Total number of outstanding shares | |
|---|---|---|---|
| Before the sale (as of August 1, 2006) | 19.2% | 2,134,811.21 shares | 11,114,750.64 shares |
| After the sale (as of August 2, 2006) | - % | - shares | 11,114,750.64 shares |
- *1 Equity interest ratio before the sale is calculated by subtracting own shares held by SBI (including SBI shares held by affiliates of SBI).
- *2 The number of shares held before the sale represents indirect share interest by SBAM.
- *3 The total number of outstanding shares before the sale excludes own shares held by SBI (including SBI shares held by affiliates of SBI).
3. Impact on the consolidated financial results
SOFTBANK is currently unable to calculate the proceeds from the sale because such amount is affected by marketing performance to institutional investors by Goldman Sachs (Japan) Ltd. The amount will be separately disclosed as soon as it is finalized.
4. Others
Though the sale of shares has eliminated capital ties with SBI, SOFTBANK will maintain its friendly relationship with SBI through business partnerships and continue to work on developing a broadband society.
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