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SOFTBANK CORP.

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Press Releases 2004

Notice of Change in the Restrictive Financial Covenant on Outstanding Euro-Denominated Straight Bonds

Dec. 28, 2004

SOFTBANK CORP. (the “Company”) announced today that it entered into an agreement to change the restrictive financial covenant on outstanding euro-denominated straight bonds to be matured in 2011 (issued on March 8, 2004, with a total issue amount of 400 million euro) with Deutsche Trustee Company Limited, the trustee of the relevant bonds as of December 28, 2004.

After the issuance of the relevant bonds, the scale of the Company’s group assets and business drastically changed due to such business activities as the acquisition of JAPAN TELECOM CO., LTD. Because the original restrictive financial covenant on the relevant bonds was based on the old scale of assets and business, the Company decided to change it to encourage flexibility in its financial strategy for meeting present conditions and facilitate the implementation of business strategies more smoothly in the future.

As a consequence of the change, the Company expects an extraordinary loss of 29 million euro (Yen equivalent based on an exchange rate, 1 euro = 140.35 yen, as of December 28, 2004: approximately 4.1 billion yen) in the third quarter of the fiscal year ending March 31, 2005, due to a payment of amendment fees to relevant bondholders and other expenses.

  • *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 Such information is subject to change and may become out-of-date.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.