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Announcement of financing for the implementation of legal defeasance

Apr. 27, 2006

As announced in the press release dated April 3, 2006, SOFTBANK CORP. (“SOFTBANK”) implemented legal defeasance of Euro-denominated Senior Notes due 2011. SOFTBANK announces that it today signed a basic contract of financing for the implementation of legal defeasance.

1. Financing conditions

(1) Lender	Deutsche Bank AG, Tokyo Branch
(2) Loan amount	60 billion yen
(3) Period	(i) Tranche A (30 billion yen): April 28, 2006 to March 15, 2007 (ii) Tranche B (30 billion yen): April 28, 2006 to April 15, 2008
(4) Others	Unsecured loan

2. Impacts on financial results

With this loan, SOFTBANK expects to record interest expense of approximately 2 billion yen as non-operating expenses, both in consolidated and stand-alone basis for the fiscal year ending March 2007.