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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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Change in Subsidiaries (Sub-Subsidiaries) - SoftBank Group Corp.

05/11/2021 | 09:49am EST

SoftBank Group Corp. ("SBG") announced the following change in its specified subsidiaries.

1. Reason for the change

As announced in "Entry into a Definitive Agreement by Subsidiaries (SoftBank Corp. and Z Holdings Corporation) Regarding the Business Integration of Z Holdings Corporation and LINE Corporation, and the Planned Commencement of a Joint Tender Offer for the Shares of LINE Corporation by a Subsidiary (SoftBank Corp.) and NAVER Corporation" dated December 23, 2019, an absorption-type merger (the "Absorption-type Merger") between LINE Corporation ("LINE"), as the surviving corporation, and Shiodome Z Holdings GK, a wholly owned subsidiary of SoftBank Corp. (Securities Code: 9434, Tokyo Stock Exchange First Section; a subsidiary of SBG, "SoftBank"), as the absorbed corporation, was implemented as of February 26, 2021, as part of the business integration between Z Holdings Corporation (Securities Code: 4689, Tokyo Stock Exchange First Section; a subsidiary of SBG; "ZHD") and LINE (the "Business Integration"). Through a series of transactions including the Absorption-type Merger, LINE Demerger Preparatory Company, a subsidiary of LINE, has become a subsidiary (sub-subsidiary) of SBG as of February 26, 2021. *

LINE has transferred its entire business to LINE Demerger Preparatory Company as of February 28, 2021 and changed its trade name to A Holdings Corporation ("AHD"). As of the same date, LINE Demerger Preparatory Company changed its trade name to LINE Corporation.

LINE transferred its entire business (excluding the ZHD shares, the contractual status pursuant to the agreements executed by LINE in relation to the Business Integration, and the rights and obligations set out in the absorption-type demerger agreement) to its wholly owned subsidiary, LINE Demerger Preparatory Company, in an absorption-type demerger (the "Corporate Demerger") as of February 28, 2021. For accounting purposes, the acquisition date is February 28, 2021, the date when the Corporate Demerger became effective, as the Absorption-type Merger and the Corporate Demerger are deemed to be a series of transactions regarding the Business Integration.

2. Outline of the subsidiary (sub-subsidiary)

(1) Name LINE Corporation

(2) Address 1-6-1 Yotsuya Shinjuku-ku, Tokyo

(3) Name and title of representative Takeshi Idezawa, Representative Director and President

(4) Nature of business Advertising service based on the mobile messenger application "LINE," core businesses including the sales of stickers and game services, and strategic businesses including Fintech, AI, and commerce services

(5) Share capital JPY 34,201 million (as of March 31, 2021)

(6) Founded December 13, 2019

(7) Major shareholders and shareholding ratios Z Holdings Corporation 100.00%

(8) Relationships with SBG Capital relationship SBG, through SoftBank, owns 50.00% of the shares in AHD, the parent company of LINE and ZHD.

Personnel relationship Not applicable

Business relationship SBG's subsidiary SoftBank has business relationships with LINE with respect to advertising services, etc.

(9)Results of operations and financial position over the past 3 years (Consolidated, IFRS)*

Fiscal year Fiscal year ended December 31, 2017 Fiscal year ended December 31, 2018 Fiscal year ended December 31, 2019

Total capital JPY 189,977 millionJPY 208,514 millionJPY 174,663 million

Total assets JPY 303,439 millionJPY 486,587 millionJPY 541,352 million

Equity attributable to owners of parent per share JPY 779.30 JPY833.87 JPY 659.96

Revenues JPY 167,147 millionJPY 207,182 millionJPY 227,485 million

Operating income (loss) JPY 25,078 millionJPY 16,110 millionJPY (38,997) million

Income (loss) attributable to owners of the parent company JPY 8,078 millionJPY (3,718) millionJPY (46,888) million

Earnings per share: basic profit (loss) for the period JPY 36.56 JPY(15.62) JPY (196.07)

Dividends per share - - -

Results of operations and financial position for AHD (former LINE) are shown.

3. Date of change

February 26, 2021

.

(C) 2021 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
SOFTBANK CORP. -0.62% 1528.5 End-of-day quote.18.21%
SOFTBANK GROUP CORP. -5.10% 5599 End-of-day quote.-30.52%
Z HOLDINGS CORPORATION -1.03% 737 End-of-day quote.18.03%
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Sales 2022 6 111 B 53 933 M 53 933 M
Net income 2022 1 476 B 13 023 M 13 023 M
Net Debt 2022 15 202 B 134 B 134 B
P/E ratio 2022 7,64x
Yield 2022 0,79%
Capitalization 9 595 B 84 872 M 84 685 M
EV / Sales 2022 4,06x
EV / Sales 2023 4,03x
Nbr of Employees 58 786
Free-Float 69,3%
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Number of Analysts 15
Last Close Price 5 599,00 JPY
Average target price 9 862,00 JPY
Spread / Average Target 76,1%
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Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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