SOFTBANK announces the sale of its shares held in Cisco Systems K.K.Jul. 26, 2005
SOFTBANK CORP. announces that the Company has signed a disposal contract of selling all shares held in Cisco Systems K.K. (head office: Minato-ku, Tokyo, representative: Yasuki Kurosawa) with Cisco Systems, Inc. (head office: San Jose, California, representative: John Chambers)
1. Outline of sale
|(1) Shares for sale||160 preferred shares held in Cisco Systems K.K.|
|(2) Sale price||US$ 25 million
Approximately 2.8 billion yen
(Yen equivalent based on an exchange rate of 1$ = 111.84 yen, as of July 25, 2005)
|(3) Buyer||Cisco Systems, Inc.|
|(4) Time of delivery||July 2005 (Schedule)|
2. Effect on financial results
Gain on sale of investment securities would be recognized approximately 2.6 billion yen on consolidated and stand-alone bases in the 2nd quarter for the fiscal year ending March 31, 2006.
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