Press Releases 2005

Partial revision of the press release “Announcement of Strategic Partnership for Internet Business in China”

Oct. 3, 2005

SOFTBANK CORP. announces a partial revision of the press release on August 11,2005, “Announcement of Strategic Partnership for Internet Business in China”, in which the company stated it has reached a basic agreement to form a strategic partnership with Alibaba.com Corporation (affiliated of the company, head office: Hong Kong, China, representative Jack Ma, “Alibaba”) and Yahoo! Inc. (head office: California, U.S.A., representative: Jerry Yang, “Yahoo”) for the promotion of Internet businesses in the Chinese market. This revision addresses the change in the timing for selling off its shares held in Tao Bao Holding Limited (consolidated subsidiary of the company, head office: Hong Kong, China; representative: Jack Ma, “Tao Bao”) reorganization caused by the alliance. The company revises part of “2. Effects on consolidated financial result” in the August 11 press release to read as follows.

1. Change

Original Statement

In the 2nd quarter for the fiscal year ending March 31, 2006, the company will sell off a part of its shares held in Tao Bao for US$360 million...

Revised Statement

In the 3rd quarter for the fiscal year ending March 31, 2006, the company will sell off a part of its shares held in Tao Bao for US$360 million...

[Note]
  • *The changed part is underlined.

2. Details of Change

There is no change in the company’s plan to form a strategic partnership with Alibaba and Yahoo to promote Internet business in the Chinese market, but the company has decided to change the timing for selling off a part of its shares held in Tao Bao from the second quarter of fiscal 2005 to the third quarter for the fiscal year ending March 31, 2006 for clerical reasons. This has prompted the company to revise part of its August 11 press release. In line with the change in the timing for selling off the shares, the company expects to delay the timing for booking a special income from sale of investment securities until the third quarter for the fiscal year ending March 31, 2006 or later. The company will disclose information on the amount of income from the sale when it is finalized.

  • Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SoftBank Group Corp. or the applicable group company, as the case may be. Such information is subject to change and may become out-of-date. Such information may also contain forward-looking statements which are by their nature subject to various risks and uncertainties that may cause actual results and future developments to differ materially from those expressed or implied by such statements. Please read legal notices in its entirety prior to viewing any information available on this website.