Press Releases 2002

Complete Subsidiarization of BB Technologies Corporation

Aug. 5, 2002

SOFTBANK CORP. announces that we have completely subsidiarized BB Technologies Corporation (Headquarter: Chuo-ku, Tokyo; President&CEO: Masayoshi Son; hereinafter BBT), of which we owned 51% of equity as one of our consolidated subsidiaries, through the transfer of the rest of the BBT shares from six companies in our group listed below.

We acquired the BBT shares from our six group companies at face value.

We have acquired BBT as a 100% subsidiary in order to: 1) further clarify our commitments to the management of BBT, and 2) strengthen BBT’s independence and enhance its transparency in relation to our group companies including Yahoo Japan Corporation (Headquarter: Minato-ku, Tokyo; President&CEO: Masahiro Inoue; hereinafter Yahoo! JAPAN ), which is BBT’s main business partner in the “Yahoo! BB” project, a comprehensive broadband service. Regarding our commitment to BBT’s management, since we launched a full-scale operation of our broadband infrastructure business last year, we have positioned BBT as a core company for our broadband business in SOFTBANK Group. BBT is playing a leading role in the broadband infrastructure business. By making BBT a wholly-owned company, we aim to bring BBT and SOFTBANK closer together and achieve greater managerial efficiency.

We believe that our group companies including Yahoo! JAPAN will continue to be BBT’s important partners in the “Yahoo! BB” project regardless of whether a capital relationship exists or not. The acquisition will also clarify the role and capital relationship of each company. This will enable us to launch more dynamic business expansion. SOFTBANK Group hopes to improve its corporate value by positioning BBT, Yahoo! JAPAN, other group companies, and business partners as core players in the promotion of the broadband business.

Profile of BB Technologies Corporation before the acquisition

Company Name BB Technologies Corporation
Headquarter 24-1, Nihonbashi-Hakozakicho, Chuo-ku, Tokyo
Representative Masayoshi Son
Established May 2000
Paid-in capital 3,000,000,000 yen
Shareholders
SOFTBANK CORP.
51%
SOFTBANK Broadmedia Corporation
15%
SOFTBANK FINANCE CORPORATION
10%
Yahoo Japan Corporation
10%
NC Broadband KK
9%
SOFTBANK TECHNOLOGY HOLDINGS CORP.
3%
SOFTBANK EC HOLDINGS CORP.
2%
Type of business
  • 1. Construction, suppuly and management of ADSL infrastructures
  • 2. Technology development
  • 3. Technology support
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