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Cancellation of Purchase of Shares of eAccess Ltd. by a Subsidiary of SoftBank Corp., Yahoo Japan Corporation, and their Future Cooperation

SoftBank Corp.

SoftBank Corp. (the “Company”) announced in its press release “Change of Indirect Subsidiary along with the Purchase of Shares of eAccess Ltd. by Yahoo Japan Corporation, a Subsidiary of SoftBank Corp.” issued on March 27, 2014 that Yahoo Japan Corporation (“Yahoo Japan”), a subsidiary of the Company would purchase the shares of eAccess Ltd. (“eAccess”) from the Company (the “Transaction”). However, as a result of in-depth discussions between the Company and Yahoo Japan following the announcement the Transaction has been cancelled as attached.
eAccess and WILLCOM, Inc. (a subsidiary of the Company) are still scheduled to merge with an effective date of June 1, 2014 (the “New Company”). Name of the New Company will be changed to Ymobile Corporation.

After the announcement of the Transaction on March 27, 2014, the Company and Yahoo Japan held further in-depth discussions on the mutual use of networks, service design, etc., coming to a deeper mutual understanding of the details of the Transaction. As a result, the Company and Yahoo Japan came to the conclusion that rather than Yahoo Japan converting the New Company to a consolidated subsidiary and building an infrastructure on its own, it would be better to develop the business by employing the strengths of each company, with Yahoo Japan responsible for services and the New Company for infrastructure. Consequently, the Transaction has been cancelled.
Working in close collaboration with Yahoo Japan, the New Company will take over the concept of “Delivering the Joy and Convenience of the Internet to Every Hand” put forth by Yahoo Japan at the time of the original announcement on March 27, 2014. In addition, the two companies will jointly offer a new service developed using Yahoo Japan's strength under the new brand name of Y!mobile. Yahoo Japan will announce the content of the new service as soon as it becomes fixed. Discussions will also begin with a view to having the various schemes implemented by Y!mobile expanded to SoftBank Mobile Corp.

Impact on the Financial Results

The impact of the cancellation of the Transaction on the consolidated results for the fiscal year ending March 31, 2015 will be minor. In the press release “Change of Indirect Subsidiary along with the Purchase of Shares of eAccess Ltd. by Yahoo Japan Corporation, a Subsidiary of SoftBank Corp.” issued on March 27, 2014, the Company stated that “the Company expects to record approximately JPY 55.7 billion in gain on sale of shares in an affiliate as special income on a stand-alone basis for the fiscal year ending March 31, 2015,” however this special income will not occur.

  • *The Company's financial results on a stand-alone basis are prepared in accordance with Japanese GAAP.

Overview of the New Company as of June 2, 2014

NameeAccess Ltd. (will be changed to Ymobile Corporation)
Head office1-9-2 Higashi-shimbashi, Minato-ku, Tokyo
Representative and DirectorsRepresentative Director, President and CEOEric Gan
Director and COOHiroyuki Terao
DirectorMotonari Abe
DirectorKenichi Takashima
DirectorKen Miyauchi (Representative Director, Senior Executive Vice President of SoftBank Corp.)
DirectorJunichi Miyakawa (Executive Vice President, Board Director & CTO of SoftBank Mobile Corp.)
DirectorKazuhiko Fujihara (Executive Corporate Officer of SoftBank Corp.)
DirectorShin Murakami (Corporate Officer, Chief Mobile Officer of Yahoo Japan Corporation)
Main businessTelecommunications business
Paid-in capitalJPY 43,286 million
EstablishmentNovember 1, 1999
Major shareholders and shareholding ratioSoftBank Corp. 99.68% (33.29% of voting rights)
  • Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SoftBank Group Corp. or the applicable group company, as the case may be. Such information is subject to change and may become out-of-date. Such information may also contain forward-looking statements which are by their nature subject to various risks and uncertainties that may cause actual results and future developments to differ materially from those expressed or implied by such statements. Please read legal notices in its entirety prior to viewing any information available on this website.

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