Share Transfer Resulting in Change in Scope of Consolidation of a Subsidiary

SoftBank Corp. (the “Company”) announced that its Board of Directors resolved on January 17, 2013 to approve the transfer of part of the shares (the “Share Transfer”) of eAccess Ltd. (“eAccess”) to 11 third-party purchasers on the same day (details of the 11 third-party purchasers shown in 4. below). eAccess became a wholly-owned subsidiary of the Company pursuant to a share exchange that took effect earlier this year on January 1, 2013.
As a result of the Share Transfer, eAccess becomes an equity method affiliate of the Company.

1. Reason for Share Transfer

eAccess provides mobile communications service under the EMOBILE brand and operates mobile data communications services for its MVNO (Mobile Virtual Network Operator) contractors. The Company decided to transfer a part of its shares in eAccess to the purchasers in order for eAccess to maintain a certain degree of independence, which the Company believes will facilitate the continued expansion of eAccess' business.
In November 2012, the Company explained to the Ministry of Internal Affairs and Communications that it was considering reducing its voting rights in eAccess to less than one-third after making eAccess a wholly-owned subsidiary. The Ministry of Internal Affairs and Communications subsequently reported this to the Radio Regulatory Council (an advisory panel to the Minister of Internal Affairs and Communications) in the same month.

2. Method of Share Transfer

1. eAccess acquires all common shares held by the Company on January 17, 2013, and newly issues Class A Shares (without voting rights) and Class B Shares (with voting rights) to allot to the Company.
   • * Rights on Class A shares are the same as that of Class B Shares, except for voting rights.
2. On the same day, the Company transfers a part of its Class B Shares of eAccess to the purchasers in accordance with the applicable share purchase agreement entered into by the Company and each such purchaser.

3. Outline of eAccess

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4. Purchasers

(1) Alcatel-Lucent Participations

(2) Telefonaktiebolaget L M Ericssons

(3) Comverse, Inc.

(4) Samsung Asia Pte. Ltd.

(5) Nokia Siemens Networks Holdings Singapore Ltd.

(6) Orix Corporation

(7) JA Mitsui Leasing, Ltd.

(8) Century Tokyo Leasing Corporation

(9) Fuyo General Lease Co., Ltd.

(10) Sumitomo Mitsui Finance and Leasing Company, Limited

(11) Mitsubishi UFJ Lease & Finance Company Limited

5. Number of Shares to Transfer

The Company will transfer 100 Class B Shares to each of the purchasers listed in the previous section “4. Purchasers.” Transfer prices, which have been determined based on the market value on December 28, 2012 (the business day prior to the effective date of the share exchange), cannot be disclosed according to the agreements between the Company and these purchasers.

6. Capital structure of eAccess before and after the Share Transfer (plan)

(1) Before the Share Transfer

(2) After the Share Transfer

7. Schedule

8. Future Outlook

The Company and eAccess believe the Share Transfer will have no impact on achieving the benefits expected from making eAccess a wholly-owned subsidiary as originally contemplated, namely (1) shared utilization of mobile communications network, (2) mutual collaboration on efficient operation of base station sites, and (3) creation of synergies, as stated in the “Announcement of Making eAccess Ltd. a Wholly-owned Subsidiary of SoftBank Corp. Through Share Exchange And Business Alliance between SoftBank Mobile Corp. and eAccess Ltd.” dated October 1, 2012.
The Share Transfer is not expected to have a material impact on the Company's consolidated results for the fiscal year ending March 2013.

(Reference) Financial result forecast and actual of the previous period

The SoftBank Group continues to focus on network expansion and customer acquisition of the mobile communications business for the fiscal year ending March 2013. Such efforts will cause an increase in cost, however with a steady increase in customer base, it is expected that sales and operating income will exceed the level of the fiscal year ended March 2012, and operating income will exceed JPY 700 billion.