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Notification on Valuation Loss on Investments in Affiliates and Valuation Loss on Investments in Year Ended March 2008

Apr. 25, 2008

SOFTBANK CORP. (hereinafter ‘The Company’) announces loss of valuation loss on investments and valuation loss on investments in affiliates will be recognized in the earnings results of the year ended March, 2008. These losses relate to the Company’s investments in affiliates, and investment securities owned by the Company’s affiliated companies of which the market or actual value has dropped significantly.

1. Total amount of valuation loss on investments in affiliates in the year ended March 2008

Stand-alone

(A) Total amount of valuation loss on investments in affiliates in year ended March 2008	JPY 6.413bn*1
(B) Amount of equity in year ended March 2007 (A/B × 100)	JPY 372.810bn (1.7%)
(C) Average ordinary income of 5 most recent years (A/C × 100)	JPY 3.119bn (205.6%)
(D) Average net income of 5 most recent years (A/D × 100)	JPY 4.904bn (130.8%)

2.Total amount of valuation loss on investments in the year ended March 2008

Consolidated

(A) Total amount of valuation loss on investments in year ended March 2008	JPY 21.855bn*2
(B) Amount of equity in year ended March 2007 (A/B × 100)	JPY 716.237bn (3.1%)
(C) Amount of ordinary income in year ended March 2007 (A/C × 100)	JPY 153.423bn (14.2%)
(D) Amount of net income of in year ended March 2007 (A/D × 100)	JPY 28.815bn (75.8%)

3.Future outlook

The Company expects to recognize JPY 6.413 billion of valuation loss on investments in affiliates on non-consolidated basis, and JPY 21.855 billion of valuation loss on investments on consolidated basis, respectively as special loss in the earnings results for the fiscal year ended March 2008.

The announcement of the Company’s earnings results is scheduled to take place on May 8 (Thursday), 2008.