Dividend from Subsidiary
SoftBank Group Corp. (“SBG”) announces that its wholly-owned subsidiary SB CHINA HOLDINGS PTE LTD (“SB China”) resolved its dividend of surplus on August 22, 2016, which is expected to cause the following impact to SBG's non-consolidated* financial results.
1. Outline of dividend by SB China
- (1)Total dividend amount: JPY 2,372,865 million
- (2)Payable date: August 22, 2016
2. Impact on SBG's financial results
On the dividends payable date, SBG expects to record JPY 2,372,865 million of dividends received as non-operating income on its non-consolidated financial statements for the fiscal year ending March 2017. This dividend will not impact SBG's income before income tax on its consolidated financial statements, as dividends received from a subsidiary are eliminated as inter-company transactions.
This dividend from a foreign subsidiary is subject to the foreign dividend exemption in Japan.
SBG's non-consolidated financial statements are prepared in accordance with JGAAP.
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