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SOFTBANK GROUP CORP.

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SoftBank : Absorption-type Merger of Subsidiary (Net Culture GK)

05/21/2021 | 02:03am EDT

May 21, 2021

SoftBank Group Corp.

Absorption-type Merger of Subsidiary (Net Culture GK)

SoftBank Group Corp. ("SBG") today announced that its Board of Directors has resolved to merge its wholly owned subsidiary Net Culture GK ("Net Culture") in an absorption-type of merger (the "Merger"), effective as of July 1, 2021 as follows.

1. Purpose of the Merger

SBG decided on the Merger to pursue greater efficiency in its holding structure for investment securities.

2.

Summary of the Merger

(1)

Timeline

Merger resolution by the Board of Directors

May 21, 2021

Date of the Merger agreement

May 21, 2021

Date of the Merger (the effective date)

July 1, 2021 (planned)

Note: Given the Merger is a short-form merger for SBG as provided in the Article 796-2 of the Companies Act, the Merger will be conducted without seeking approval at the General Meeting of Shareholders of SBG on the execution of the Merger agreement.

(2) Merger method

Absorption-type merger with SBG being the surviving company. Net Culture will be dissolved.

  1. Allotment of shares and other assets upon the Merger Not applicable
  2. Treatment of stock acquisition rights and bonds with stock acquisition rights of the

merged companies Not applicable

3. Outline of the Companies Subject to the Merger

Surviving Company

Dissolving Company

(1)

Trade name

SoftBank Group Corp.

Net Culture GK

(2)

Address

1-7-1, Kaigan, Minato-Ku,

1-7-1, Kaigan, Minato-Ku,

Tokyo

Tokyo

1

(3) Name and title of

Masayoshi Son,

Norikazu Oba,

representative

Representative Director,

Executive Officer

Corporate Officer, Chairman &

CEO

(4)

Nature of business

Pure holding company

Acquisition, holding, and

management of

investment securities

(5)

Share capital

JPY 238,772 million

JPY 81 million

(6)

Founded

September 3, 1981

March 19, 2001

(7)

Shares outstanding

2,089,814,330 shares

(as of March 31, 2021)

(8)

Fiscal year-end

March 31

March 31

(9)

Principal shareholders

Masayoshi Son: 24.61%

SoftBank Group Corp.:

and their shareholding

The Master Trust Bank of Japan,

100%

ratio (as of September

Ltd. (Trust Account): 11.58%

30, 2020)

Custody Bank of Japan, Ltd. (Trust

Account): 6.26%

(10) Latest FY financial position

and results of operation

(JPY million)

Fiscal year ended

Fiscal year ended

March 2021

March 2021

(Consolidated)

(Stand-alone)

Total equity (Net assets)

11,955,593

765,711

Total assets

45,750,453

950,265

Equity per share attributable

to owners of the parent

(Shareholders' equity per

share) (JPY)

5,588.80

Net sales

5,628,167

Operating income (loss)

(2)

Ordinary income

(4,066)

Net income attributable to

owners of the parent

(Net income)

4,987,962

(18,872)

Basic earnings per share

(Net income per share) (JPY)

2,619.61

Notes:

  1. SBG adopts International Financial Reporting Standards (IFRSs) and Net Culture adopts JGAAP. Where terminology of the item differs between IFRSs and JGAAP, both are presented, with JGAAP terminology is shown in brackets.
  2. Amount is rounded off to the nearest unit.

2

4. Situation after the Merger

SBG's trade name, address, name and title of representative, nature of business, share capital and fiscal year-end will remain unchanged after the Merger.

5. Future Outlook

As the Merger involves a merger of SBG's wholly owned subsidiary, the impact of the Merger on SBG's consolidated financial results will be minor.

3

Disclaimer

SoftBank Group Corporation published this content on 21 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 May 2021 06:02:01 UTC.


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Technical analysis trends SOFTBANK GROUP CORP.
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Income Statement Evolution
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Number of Analysts 15
Last Close Price 6 837,00 JPY
Average target price 11 266,93 JPY
Spread / Average Target 64,8%
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Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
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