23:31 August 28th, due to expansion of cash on hand to sell part of shares of SoftBank Group subsidiary

The SoftBank Group will sell a part of 21% of the shares of its subsidiary Telecom Softbank. The purpose is to expand the funds at hand, and the sale amount is expected to reach about 1.4 trillion yen.

According to the announcement, the SoftBank Group will sell approximately 21% of the shares of SoftBank, a subsidiary that handles mobile phone business, to a securities company next month.

The price has not been announced, but it will be JPY 1,470.0 billion based on the closing price on the 28th.

The SoftBank Group, which posted a huge deficit in its financial results last year, has sold 95% of its target of 4.3 trillion yen, which is 95% of its target, to improve its financial condition. It was

The reason for the sale is explained by the company's belief that the stock market environment is uncertain due to the effect of the new coronavirus, and that it is necessary to further expand the cash on hand.

As a result, the shareholding ratio in the subsidiary SoftBank will drop by more than 40% and will fall below the majority, but the position as a subsidiary will not change and we do not plan to sell any more.