Press Releases 2023
Notice Concerning Recording of Gain/loss on
Extinguishment of Tie-in Shares in
Our Consolidated Subsidiary
October 2, 2023
SoftBank Corp.
LY Corporation (hereinafter “LY”) (formery Z Holdings Corporation), a subsidiary of SoftBank Corp. (hereinafter the “Company”), is expected to record a “Gain/loss on extinguishment of tie-in shares” in its non-consolidated financial statements. Details are as follows.
1. Contents of gain/loss on extinguishment of tie-in shares to be recorded in our consolidated subsidiary
As announced in the press release “(Update) Completion of Intra-Group Reorganization and Change in Trade Name” dated October 2, 2023, our consolidated subsidiary LY has completed the scheduled procedures related to the intra-Group reorganization (hereinafter the “Reorganization”) as of October 1, 2023.
As a result of this Reorganization, LY will record a “Gain/loss on extinguishment of tie-in shares” in its non-consolidated financial statements at the time LY merges Yahoo Japan Corporation, Z Entertainment Corporation, and Z Data Corporation through an absorption-type merger, and LY assumes the rights and obligations of LINE Corporation through an absorption-type company split.
2. Impact on financial results
The “Gain/loss on extinguishment of tie-in shares” to be recorded in the non-consolidated financial statements of LY stated above will be eliminated in the consolidated financial statements, so there will be no effect on the Company's consolidated financial statements. Therefore, there will be no change in the consolidated financial results forecasts for the fiscal year ending March 31, 2024 announced in “Consolidated Financial Report For the Fiscal Year Ended March 31, 2023 (IFRS)” dated May 10, 2023.
The amount of the “Gain/loss on extinguishment of tie-in shares” is still being calculated, thus the specific amount is unknown at this time. The Company will promptly announce the amount of the impact on the non-consolidated financial results of LY, if and when such disclosure becomes necessary.
(Reference) Forecasts of Consolidated Financial Results for the Fiscal Year Ending March 31, 2024 (announced on May 10, 2023) and consolidated financial results for the previous year
| Revenue | Operating income | Net income attributable to owners of the Company | Basic earnings per share |
|
|---|---|---|---|---|
| Forecasts of consolidated financial results for the fiscal year ending March 31, 2024 | 6,000,000 (million yen) |
780,000 (million yen) |
420,000 (million yen) |
88.95 (yen) |
| Consolidated financial results for the fiscal year ended March 31, 2023 | 5,911,999 (million yen) |
1,060,168 (million yen) |
531,366 (million yen) |
112.53 (yen) |
- SoftBank, the SoftBank name and logo are registered trademarks or trademarks of SoftBank Group Corp. in Japan and other countries.
- Other company, product and service names in this press release are registered trademarks or trademarks of the respective companies.