Press Releases 2024
Notice Concerning Commencement of Tender Offer
by a Subsidiary (ValueCommerce Co., Ltd.)
to Repurchase Its Own Shares
March 11, 2024
SoftBank Corp.
At its Board of Directors meeting held today, ValueCommerce Co., Ltd. (Securities code: 2491, hereinafter “ValueCommerce”), a consolidated subsidiary of SoftBank Corp. (hereinafter the “Company”), passed a resolution to repurchase its own shares and implement a tender offer (hereinafter the “Tender Offer”) as the specific method for this repurchase. Details are provided in the attached document.
In addition, Z Intermediate Holdings Corporation (hereinafter “ZHD Intermediate”), a subsidiary of the Company and owner of 51.92%* of ValueCommerce's shares, concluded a tender offer agreement today with ValueCommerce to tender a partial number of its ValueCommerce common shares in the Tender Offer. After the conclusion of the Tender Offer, it is expected that ValueCommerce will cease to be a subsidiary of the Company and newly become an equity method affiliate.
The effect of this matter on the Company's consolidated financial statements is immaterial.
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- *As of December 31, 2023. Excludes treasury shares owned by ValueCommerce.
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Overview of ValueCommerce
Location | 1-3 Kioicho, Chiyoda-ku, Tokyo |
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Name and title of representative | Jin Kagawa Representative Director President and CEO |
Main Business | Marketing Solutions Business (Affiliate marketing) EC Solutions Business (StoreMatch, STORE's R∞, B-Space) Travel Tech Business |
Share capital | JPY 1,728 million (as of December 31, 2023) |
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