Sign In
30 May 2008 10:17
May 30, 2008
Announcement Concerning Dissolution of Subsidiary
SOFTBANK CORP. (hereinafter 'the Company') announces that SOFTBANK TELECOM Corp. (hereinafter 'SBTM') a consolidated subsidiary of the Company will dissolve its subsidiary JD CREATE Co., Ltd. (hereinafter 'JD CREATE') as follows.
Outline of relevant company
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(1) |
Name |
JD CREATE Co., Ltd. |
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(2) |
Location |
1-9-1 Higashi-Shimbashi, Minato-ku, Tokyo |
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(3) |
Representative |
Representative Director President & CEO Hiroyuki Obara |
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(4) |
Business activities |
Sales and operational management of order entry service |
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(5) |
Founded |
August 1, 2006 |
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(6) |
Capital |
JPY 150 million |
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(7) |
Shares issued |
6,000 shares |
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(8) |
Principle shareholders and ownership ratio |
SOFTBANK TELECOM Corp. 51％ DAIICHIKOSHO CO., LTD. 49％ |
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(9) |
Net assets |
JPY (46) million（as of March 31, 2008） |
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(10) |
Total assets |
JPY 265 million（as of March 31, 2008） |
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(11) |
Settlement period |
March 31 |
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(12) |
Number of employees |
18（as of March 31, 2008） |
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(13) |
Recent earnings results |
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FY2006 ended March 31, 2007 |
FY2007 ended March 31, 2008 |
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Net sales |
JPY 30 million |
JPY 372 million |
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Operating income |
JPY(140) million |
JPY(186) million |
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Ordinary income |
JPY (141) million |
JPY (185) million |
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Net income |
JPY (141) million |
JPY (204) million |
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Reason for dissolution
The objective of this joint venture, founded with DAIICHIKOSHO CO., LTD., was the sales and operational management of order entry systems. Since these business operations will be transferred to SBTM, JD CREATE will be dissolved and liquidated.
Dissolution schedule
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May 30, 2008 |
Resolve dissolution |
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September 1, 2008 |
Complete liquidation (planned) |
Future outlook
The impact of the dissolution of JD CREATE on the consolidated results is minor.
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