Recognition of Gain on Liquidation of Subsidiaries and Affiliated Companies (Special Income) in Non-consolidated Financial Statements
SoftBank Group Corp. (“SBG”) announces that it expects to recognize gain on liquidation of subsidiaries and affiliated companies of approximately JPY 309,314 million as special income in its non-consolidated financial statements (Japan GAAP) for the fiscal year ending March 2019 as follows.
1. Outline of Gain on Liquidation of Subsidiaries and Affiliated Companies
SBG's wholly owned subsidiary Kahon 2 Oy (“Kahon 2”) is currently undergoing liquidation process, by which SBG is deemed to receive the distribution from Kahon 2's residual assets as of November 30, 2018. As a result, SBG expects to recognize gain on liquidation of subsidiaries and affiliated companies of approximately JPY 309,314 million as special income in its non-consolidated financial statements for the fiscal year ending March 2019.
2. Impact on SBG's Consolidated Financial Results
As this is liquidation of a wholly owned subsidiary, the impact on SBG's consolidated financial results will be minor.
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