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Press Releases 2002

SOFTBANK announces a partial sale of its holding in Yahoo! Inc.

Apr. 16, 2002

SOFTBANK announces that SOFTBANK America Inc. (Headquarter: Delaware, U.S.A., Representative: Masayoshi Son, hereinafter called “SBA”) sold a part of its holding in Yahoo! Inc. (hereinafter called “Yahoo”) in order to improve SOFTBANK’s financial condition.

SBA sold 11,500,000 shares of Yahoo, for an aggregate purchase price of approximately US$171,000,000 (Translated amount in yen: approximately 22.4 billion yen, exchange rate: $1=131.00 yen). Gain on sale of such shares is expected to be approximately 15.7 billion yen.

It is expected that Yahoo will not be accounted for an equity-method affiliate on a consolidation basis as SOFTBANK’s stake in Yahoo decreased to approximately 14.3% due to the above transaction together with the earlier sale to SBC Communications, Inc. in January 2002. SBA continues to be the largest shareholder of Yahoo and this sale does not influence our relationship with Yahoo as one of our most important partners. We will continue to seek synergy with Yahoo.

This Press Release may contain “material information” as defined in Article 166 of the Securities and Exchange Law (“Material Information”). Please note that any person who has obtained information by reading a Press Release (including this one) containing Material Information may be subject to the “Insider Trading” Law if such person engages in purchase or sale of securities of the Company and/or affiliates thereof, within twelve (12) hours of the release of such Material Information pursuant to the Cabinet Order for Enforcement of the Securities and Exchange Law.

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