Voluntary Adoption of International Financial Reporting Standards (IFRS)
SoftBank Corp. (hereafter “the Company”) announces today that it has decided to adopt IFRS to its consolidated financial statements in lieu of the current Japan-GAAP, and will disclose its consolidated financial statements according to IFRS from the first quarter of the fiscal year ending March 2014.
The acquisition of US mobile operator Sprint Nextel Corporation is expected to be finalized mid 2013 and the Company's overseas business expansion will gain further momentum. Against this backdrop, the Company has decided to adopt IFRS voluntarily to improve international comparability of financial information disclosed to the capital market.
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