Announcement of Brand Trademark Licensing to SoftBank Corp.
SoftBank Group Corp. announces that on March 23, 2018, its Board of Directors resolved to grant its subsidiary SoftBank Corp. the partial usage rights of the “SoftBank” brand trademark, which is effective indefinitely, in principle. Please see the attached notice for further details.
Announcement of Brand Trademark Licensing
to SoftBank Corp.
March 23, 2018
SoftBank Group Corp.
SoftBank Group Corp. (“SBG”) and SoftBank Corp. (“SB”) announce that the partial usage rights of the “SoftBank” brand trademark, which is effective indefinitely, in principle, will be granted from SBG to SB (the “Transaction”) as follows.
1. Outline of the Transaction
SBG has been conducting a reorganization of the SoftBank Group companies both in Japan and overseas in an effort to further clarify its position as a strategic holding company. SBG aims to achieve SB's autonomous and agile growth by pooling its domestic businesses into SB, a company playing a central role in its domestic business. The Transaction is a part of this reorganization.
In the Transaction, with regard to the “SoftBank” brand trademark held by SBG and its partial usage limited to certain business segments, SBG will (ⅰ) confer the sole and exclusive trademark usage rights and ordinary trademark usage rights to SB, and (ⅱ) grant SB the right of trademark usage sublicense to SB subsidiaries. The rights shall be effective indefinitely, in principle. SBG expects to receive JPY 350 billion in a lump sum as compensation for the rights by March 31, 2018.
As a result of the Transaction, SB will be able to exclusively use the “SoftBank” brand mainly with regard to its certain domestic businesses, aiming to further strengthen its business management foundation.
2. Impact on Financial Results
The impact of the Transaction on SBG's non-consolidated financial results and its timing will be announced when available. Meanwhile, the impact of the Transaction on SBG's consolidated financial results will be minor.
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