Streaksai Regulatory News (STK)

27 Mar 2008 09:28

Softbank Corp27 March 2008 March 27, 2008 Transfer of Shares Held by SOFTBANK CORP. to its Wholly-owned Subsidiary SOFTBANK CORP. (hereinafter the Company) announces that it has passed aresolution to transfer shares held by the Company as stated below 1. Reason for transfer As part of the business strategies of the SOFTBANK Group, the Company transfersa part or all of the shares of 3 companies held by the Company to SBBMCorporation, a wholly-owned subsidiary of the Company. 2. Details of the shares to be transferred Name Yahoo Japan CorporationBusiness description Internet advertising business, e-Commerce business, member service business, other businessesNumber of shares held 24,853,824 shares (ownership 41.09%)before transferNumber of shares to be 557,620 sharestransferredNumber of shares to be held 24,296,204 shares (ownership 40.17%)after transfer Name INVOICE INC.Business description - Corporate communications integration (consolidated billing of communication charges) services - Residential communications integration services - Other consolidated billing services - Design of glass wool ducts for air-conditioning and clean roomsNumber of shares held 450,857 shares (ownership 3.9%)before transferNumber of shares to be 450,857 sharestransferredNumber of shares to be held 0 shares (ownership 0%)after transfer Name M.P.Technologies, IncBusiness description - Provision of broadband services to hotels - Provision of enterprise solutions to companiesNumber of shares held 8,595 shares (ownership 15.89%)before transferNumber of shares to be 8,595 sharestransferredNumber of shares to be held 0 shares (ownership 0%)after transfer 3. Transferee of the shares (1) Corporate name SBBM Corporation (2) Representative Ken Miyauchi (3) Address of the head office 1-9-1, Higashi-shimbashi, Minato-ku, Tokyo (4) Foundation March, 2000 4. Schedule of transfer Date of conclusion of March 27, 2008Agreement of ShareTransfer Date of transfer March 27, 2008 5. Impact on business results Associated with this transfer of shares, the Company estimates to recordapproximately JPY 29.8 billion of profit on sale of shares of affiliatedcompanies as special income, approximately JPY 0.3 billion of loss on sale ofshares of affiliated companies as special loss and approximately JPY 1.7 billionof valuation loss on investment securities in the closing results for FY2007ending in March 2008 on non-consolidated basis. As for the closing results onconsolidated basis, the aforementioned gain/loss on sale of shares of affiliatedcompanies will balance each other as out internal transactions. This information is provided by RNS The company news service from the London Stock Exchange