Completion of refinancing of mobile communications business
SOFTBANK CORP. (“SOFTBANK”) earlier announced that it would proceed with refinancing its acquisition of Vodafone K.K. (renamed SOFTBANK MOBILE Corp., head office: Minato-ku, Tokyo; Representative: Masayoshi Son) in its press release titled “ Resolution made at the board of directors meeting regarding refinancing of mobile communications business ” issued on November 17, 2006. SOFTBANK announces that the refinancing was completed today.
Impact on consolidated financial results
The projected impact on SOFTBANK’s consolidated financial results for the fiscal year ending March 2007 as a result of the series of transactions related to the refinancing, including certain related non-recurring expenses, is expected to result in a decrease of JPY 12.9 billion in ordinary income and a decrease of JPY 15.9 billion in income before income taxes and minority interest. These projected decreases are within the range originally predicted to occur in connection with the refinancing.
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