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SOFTBANK CORP.

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Press Releases 2005

Announcement of dilution gains from changes in equity interests brought by issue of new shares by an affiliated company

Dec. 22, 2005

Due to a large scale exercise of stock acquisition rights attached to the yen-denominated convertible bonds with stock acquisition rights issued by SBI Holdings, Inc. (Head Office: Minato-ku, Tokyo; Representative: Yoshitaka Kitao; hereafter “SBI”), an affiliated company under the equity method of SOFTBANK CORP. (the Company), the Company expects to record dilution gains from changes in equity interests. Details are as follows

1. Situation of exercising stock acquisition

(1) Yen-denominated convertible bonds with stock acquisition rights due in 2008

Number of stocks delivered
180,057 shares (including newly issued 180,057 shares)
Conversion Rate
53.3%

(2) Yen-denominated convertible bonds with stock acquisition rights due in 2009

Number of stocks delivered
107,758 shares (including newly issued 107,758 shares)
Conversion Rate
21.3%

For details, please refer to the press release by SBI Holdings, Inc. as of December 22, 2005.

2. Changes in equity interests of the SOFTBANK Group

  Equity interest ratio Number of shares held Total number of outstanding shares
Before issue of new shares
(as of December 22, 2005)		 35.6% 3,245,811.21 shares 9,190,105.49 shares
After issue of new shares 34.5% 3,245,811.21 shares 9,477,920.49 shares
[Notes]
  • *1Equity interest ratio is calculated excluding treasury stock held by SBI.
  • *2Number of shares held represents the indirect share interest by SOFTBANK AM CORPORATION (wholly-owned subsidiary of the Company).
  • *3Total number of outstanding shares represents the total number of shares issued by SBI based on its stand-alone semi-annual financial report.

3. Impact on consolidated financial results

As a result of the issue of new shares by SBI, the Company expects to record extraordinary profit of 2.2 billion yen in the 3rd quarter of the fiscal year ending March 2006, for the dilution gains from changes in equity interest of the Company.