Streaksai Regulatory News (STK)

13 Mar 2006 07:00

Softbank Corp13 March 2006 February 27, 2006 The announcement of dividends receipt from consolidated subsidiary SOFTBANK CORP. ("the Company") today received dividends from SB TB HoldingLimited (Head office: Cayman Islands of British Territory; Representative:Kazuko Kimiwada; hereinafter "SBTB"), a consolidated subsidiary of the Company.Dividends received is the year-end dividends from SBTB as its earnings resultswere settled for the latest business year, following the sale of a portion ofits shareholdings in Tao Bao Holding Limited (Head office: Hong Kong, China;Representative: Jack Ma), a consolidated subsidiary of the Company, as announcedin the press release dated October 24, 2005. The Company hereby announces thefollowing information as the amount of dividends received falls under the timelydisclosure standards on a stand-alone basis. 1. Outline (1) Amount of dividends: 216 million US dollars (approximately 25.1 billion yen: based on yen-dollar exchange rate of 116.46yen, as of February 27, 2006) (2) Date of reception of dividends: February 27, 2006 2. Impact on stand-alone earnings results of the Company The Company expects to record approximately 25.1 billion yen in dividendsreceived as non-operating income on a stand-alone basis, for the 4th quarter ofthe fiscal year ending March 31, 2006. As a result, the Company expects thatthe above-mentioned dividends receipt will contribute approximately 25.1 billionyen to non-operating income and approximately 14.9 billion yen to net income,after deducting tax expenses of approximately 10.2 billion yen, on a stand-alonebasis.. On a consolidated basis, dividends received of 25.1 billion yen from aconsolidated subsidiary will be eliminated as inter-company transaction. (Reference: The estimated corporate income tax tentatively calculated bymultiplying the above-mentioned amount of dividends received with the effectivetax rate of 40.69%) This information is provided by RNS The company news service from the London Stock Exchange