Additional information on the Asset Management Subsidiary described at the Earnings Results Briefing for the 3-month Period Ended June 30, 2020
SoftBank Group Corp. (“SBG”) today released the following additional information on the asset management subsidiary (the “Asset Management Subsidiary”) that was described at the recent Earnings Results Briefing.
About the Asset Management Subsidiary
| Purpose | Managing SBG’s excess cash and diversification of SBG’s assets |
| Capital investment | USD 555 million (JPY 60 billion) |
| Shareholding | SBG 67%, Masayoshi Son, Chairman & CEO 33% |
| Size of Entrusted Operations | The amount of cash and assets SBG entrusts to the Asset Management Subsidiary will fluctuate depending upon SBG’s liquidity needs, available cash, and the state of the assets SBG holds. |
| Disclosure | Investment holdings will be disclosed periodically as required in accordance with U.S. SEC, Tokyo Stock Exchange and other rules. |
| Investment criteria | Primarily highly liquid publicly listed stocks |
| Investment method | Establish a fund, SBG makes loans of cash and publicly traded securities to the fund, and the fund makes direct and derivative investments |
| Fund period | The life of the fund will be 12 years + extension of 2 years (same as SoftBank Vision Fund) |
If, at the end of the fund life, the Asset Management Subsidiary has any unfunded repayment obligations to SBG, Masayoshi Son has agreed to pay his pro rata share of any such unfunded obligations based upon his relative ownership percentage of the Asset Management Subsidiary.
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