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23 May 2008 10:50
May 20, 2008
Cancel Submission of "Partial Changes in the Articles of Incorporation" Matter to the AGM
SOFTBANK CORP. (hereinafter "SOFTBANK") announced on May 8, 2008 that its board of directors passed a resolution to submit the matter of "Partial Changes in the Articles of Incorporation" enabling the issuance of non-voting preferred stock, to the 28th Annual General Meeting of Shareholders of SOFTBANK scheduled to be held on June 25, 2008. However, today the board of directors passed a resolution to cancel the submission of this matter to the Annual General Meeting of Shareholders and hereby announces this.
1. Matter of which submission is cancelled
"Partial Changes in the Articles of Incorporation"
2. Reason for cancellation of submission
Non-voting preferred stock are a new equity structure in the Japanese stock market. Since the resolution by the board of directors on May 8, taking the opinions received from shareholders into consideration, SOFTBANK has further considered the matter and decided to cancel its submission to the Annual General Meeting of Shareholders.
SOFTBANK will continue to make efforts to return profit in various ways to shareholders, and keep endeavoring to expand the business and improve shareholders' value by maximizing the cash flow.
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