=SoftBank

SOFTBANK CORP.

  • Japanese
  • Chinese
  • Korean
  • Contact Us
  • Site Map
Site Search
Japanese Page
Press Releases 2001

Announcement Regarding Revision of
Non-consolidated Results Forecast for Fiscal 2001

May 8, 2001

We have revised our projected non-consolidated results, which were made public at our announcement of financial statements on May 26, 2000, for fiscal 2001, ended March 31, 2001 (hereinafter referred to as “the year”), as follows.

1. Revisions to the Non-consolidated Results Forecast for the Year

Unit: Millions of yen
  Revenues Ordinary Income Net Income
Formerly announced forecast (A) 0 -2,500 3,000
Current revised forecast (B) 0 7,000 4,000
Difference (B-A) - 9,500 1,000
Percent change - - 33%
Results of previous year
(ended March 31, 2000)
(For reference)		 107,554 10,534 53,587
[Note]
  • *Please note that because, as of October 1, 1999, SOFTBANK CORP. became a pure holding company, non-consolidated sales are not provided for the year.

2. Reasons for Revision

(1) Ordinary Income

The main reason for the increase in non-consolidated ordinary income is that, due to the falling yen at the end of the year, the U.S. dollar denominated loan receivables to our overseas subsidiaries were recognized as exchange gains.

(2) Net Income

Due to the sale of a portion of our Cisco Systems K.K., shares, we logged a gain on sales of investment securities of approximately 30.8 billion yen, part of extraordinary gain. On the other hand, we suffered an evaluation loss on investment securities of approximately 30 billion yen, part of extraordinary losses, due to the devaluation of investment securities as a result of the reappraisal of the value of SB Sweden AB, which conducts foreign investment activities mainly in Europe and the United States (details below).

This reappraisal was based on the current fair value of our investment securities in an environment characterized by falling Nasdaq stock values and long-term stagnation in the IPO market. We have employed conservative accounting procedures following generally accepted accounting principles. The loss on the devaluation of investment securities (stated above) was not temporarily tax deductible. However, the amount of the loss is expected to be tax deductible in the future.

As a result of the above, net income for the year is expected to increase approximately 1 billion yen in comparison with the results forecast announced on May 26, 2000, to approximately 4 billion yen.

Reference

Summary of SB Sweden AB

Official Company Name SB Sweden AB (Headquarters: Stockholm, Sweden)
Representative Masayoshi Son
Capital US$12,000 (100% ownership)
Business Activities Foreign investment, mainly in Europe and the United States
Main Investments SOFTBANK Capital Partners Investment Inc. (Headquarters: Delaware, U.S.A.)
  • *Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SOFTBANK or the applicable group company, as the case may be. Such information is subject to change and may become out-of-date. Such information may also contain forward-looking statements which are by their nature subject to various risks and uncertainties that may cause actual results and future developments to differ materially from those expressed or implied by such statements. Please read legal notices in its entirety prior to viewing any information available on this website.