Subsidiary Yahoo Japan Corporation to Make Japan Net Bank, Limited Its Subsidiary
SoftBank Group Corp. (“SBG”) announces that on August 1, 2017 the Board of Directors of Yahoo Japan Corporation (TSE first section: 4689, “Yahoo Japan”), a subsidiary of SBG, passed a resolution to modify the shareholders agreement with Sumitomo Mitsui Banking Corporation on The Japan Net Bank, Limited (Head office: Shinjuku-ku, Tokyo; President and Representative Director: Mitsuhiro Komura; “The Japan Net Bank”) and that Yahoo Japan entered into a modified agreement with Sumitomo Mitsui Banking Corporation. Along with such modification, Yahoo Japan plans to consolidate The Japan Net Bank by sending the majority of The Japan Net Bank's directors in the months ahead subject to the approval by the authorities concerned. Please see the attached notice for further details.
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