Softbank sells stake in Yahoo, books JPY22.5 billion one-off gain

24 Mar 2006

Softbank Corp of Japan, through its wholly owned subsidiary Softbank BB Technology, has sold 173,000 shares, representing equity of 0.6%, in Yahoo Japan for JPY23.3 billion (USD198.9 million). The company says the sale is to ensure that Yahoo Japan remains listed on the Tokyo bourse and also to finance its acquisition of Vodafone KK, the Japanese arm of the Vodafone Group. Softbank expects to book a one-off gain of JPY22.5 billion as a result of the sale.

Japan, SoftBank Group Corp