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SOFTBANK CORP.

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Press Releases 2004

SOFTBANK announces financing through its U.S. consolidated subsidiary

Mar. 2, 2004

SOFTBANK CORP. announces today that its U.S. consolidated subsidiary, SOFTBANK America Inc. (Headquarter: Delaware, U.S., Representative: Masayoshi Son, “SBA”) financed approximately US$1,135 million (Yen equivalent: approximately 124.1 billion yen, exchange rate: US$ 1 = 109.3 yen) from CITIBANK, N.A. (the “Bank”) through JV, SOFTBANK Broadband Investments (the “JV”) in which SBA holds 98% stake. SBA has settled existing US$380 million loan from the Bank prior to this financing.

The US dollar-based real interest rate of this financing is approximately 4.6% (Yen equivalent based on a swap rate as of March 1: approximately 1.6%) and the expiration date is August 2011 (7 years and 6 months) maximum.

The above-mentioned loan involves a forward contract of 26 million shares of Yahoo! Inc. owned by SBA and approximately 0.5 million shares of Yahoo! Inc. owned by other partners of the JV. The obligation under the forward contract is expected to be settled by delivering shares of Yahoo Inc. It is permitted under the contract however to settle the obligations in cash.

The funds raised in this financing are intended to be used in the broadband business and other purposes.

This financing will have negligible impact on the results of the Company for the fiscal year ending March 2004.

Funding Scheme

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