Announcement Concerning Correction of Forecast etc.

SOFTBANK CORP. (hereinafter ‘the Company’) did not announce a forecast on the consolidated business results for the fiscal year ended in March 2008 (April1, 2007 — March 31, 2008) and therefore announces the following concerning the differences with the previous fiscal year's earnings results.

1. Difference between (consolidated) earnings results of FY2006 and FY2007

2. Reasons for difference

Consolidated net sales for the fiscal year ended March 31, 2008 rose 9.1% year-on-year to JPY 2,776,168 million, consolidated operating income increased 19.6% year-on-year to JPY 324,287 million, consolidated ordinary income grew 68.6% year-on-year to JPY 258,614 million, consolidated net income rose 277.0% year-on-year to JPY 108,624 million.

(1) Consolidated net sales

Net sales grew 9.1% year-on-year, the increase came primarily from increased handset sales accompanying the mobile phone subscriber growth, and the fact that this fiscal year’s results include a full-year of SOFTBANK MOBILE Corp.’s results.

(2) Consolidated operating income

Operating income rose 19.6% year-on-year, in addition to a strong performance by SOFTBANK MOBILE Corp. the increase reflects a full-year contribution of SOFTBANK MOBILE Corp.’s results.

(3) Consolidated ordinary income

Operating income rose 68.6% year-on-year, in addition to the increase in consolidated operating income, equity in earnings of affiliated companies rose JPY 53,280 million year-on-year. This increase was recognized in relation to the listing of Alibaba.com Limited (hereinafter ‘Alibaba.com’), a subsidiary of the Company’s equity-method affiliate Alibaba Group Holding Limited (hereinafter ‘Alibaba Group’), on the Main Board of the Stock Exchange of Hong Kong Limited on November 6, 2007. Alibaba Group recorded gain on sale of shares in a subsidiary and dilution gain from changes in equity interest due to the issue of new shares accompanying the listing, and also from the sale of shares held in Alibaba.com. The SOFTBANK Group’s share of these gains totaled JPY 57,223 million, which was recorded as equity in earnings of affiliated companies.

(4) Consolidated net income

Consolidated net income grew 277.0% year-on-year in relation to the increase in consolidated ordinary income, however due to the decrease in gain on sale of investment securities special income decreased by JPY 62,868 million year-on-year. Special loss increased to JPY 25,008 million including the recognition of valuation loss on investment securities and impairment loss relating to part of SOFTBANK TELECOM Corp.’s Otoku Line’s telecommunications equipment. Income before income taxes and minority interests for this fiscal year amounted to JPY 225,887 million, a JPY 17,313 million year-on-year increase.

Also, current income taxes decreased by JPY 64,142 million year-on-year to JPY 29,533 million. This relates mainly to the fact that BB Mobile Corp. will adopt the consolidated taxation system from April 1, 2008 and accordingly recorded deferred income taxes on loss carryforwards at the end of this fiscal year based on the consolidated taxation group’s profitability.

Reference

Difference between (stand-alone) earnings results of FY2006 and FY2007