Transfer of Shares Held by SOFTBANK CORP. to its Wholly-owned Subsidiary

March 27, 2008

SOFTBANK CORP. (hereinafter ‘The Company’) announces that it has passed a resolution to transfer shares held by the Company as stated below.

1. Reason for transfer

As part of the business strategies of the SOFTBANK Group, the Company transfers a part or all of the shares of 3 companies held by the Company to SBBM Corporation, a wholly-owned subsidiary of the Company.

2. Details of the shares to be transferred

Name	Yahoo Japan Corporation	INVOICE INC.	M.P.Technologies, Inc
Business description	Internet advertising business e-Commerce business member service business other businesses	Corporate communications integration (consolidated billing of communication charges) services Residential communications integration services Other consolidated billing services Design of glass wool ducts for air-conditioning and clean rooms	Provision of broadband services to hotels Provision of enterprise solutions to companies
Number of shares held before transfer	24,853,824 shares (ownership 41.09%)	450,857 shares (ownership 3.9%)	8,595 shares (ownership 15.89%)
Number of shares to be transferred	557,620 shares	450,857 shares	8,595 shares
Number of shares to be held after transfer	24,296,204 shares (ownership 40.17%)	0 shares (ownership 0%)	0 shares (ownership 0%)

3. Transferee of the shares

(1)Corporate name	SBBM Corporation
(2)Representative	Ken Miyauchi
(3)Address of the head office	1-9-1, Higashi-shimbashi, Minato-ku, Tokyo
(4)Foundation	March, 2000

4. Schedule of transfer

Date of conclusion of Agreement of Share	March 27, 2008
Transfer Date of transfer	March 27, 2008

5. Impact on business results

Associated with this transfer of shares, the Company estimates to record approximately JPY 29.8 billion of profit on sale of shares of affiliated companies as special income, approximately JPY 0.3 billion of loss on sale of shares of affiliated companies as special loss and approximately JPY 1.7 billion of valuation loss on investment securities in the closing results for FY2007 ending in March 2008 on non-consolidated basis. As for the closing results on consolidated basis, the aforementioned gain/loss on sale of shares of affiliated companies will balance each other as out internal transactions.

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