Recognition of Loss on Valuation of Shares of Subsidiariesand Associates (as Special Loss) in Non-consolidated Financial Statements
SoftBank Corp. (the “Company”) announces that it recognized loss on valuation of shares of subsidiaries and associates as special loss in its non-consolidated financial statements for the fiscal year ended March 2015 as follows.
1. Outline of Loss on Valuation of Shares of Subsidiaries and Associates
The Company recognized JPY 32,047 million of loss on valuation of shares of subsidiaries and associates as special loss, which represents impairments of the Company's investments in subsidiaries and associates including SIMI Holdings, Inc. and SoftBank Robotics Holdings Corp., in its non-consolidated financial statements for the fiscal year ended March 2015.
SIMI Holdings, Inc., one of the SoftBank group's investment arms, and its subsidiaries are in the start-up phase that involves upfront investments, and so are the SoftBank group's robotics business managed by SoftBank Robotics Holdings Corp. and its subsidiaries.
2. Impact on Consolidated Financial Results of the Company
In the Company's consolidated statement of income, this loss on valuation of shares of subsidiaries and associates has been recorded as financial results of each of the aforementioned subsidiaries and associates.
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