General Announcement::Recording of Gain Relating to Loss of Control of Sprint

Issuer & Securities

Issuer/ Manager
SOFTBANK GROUP CORP.
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
25-Jun-2020 15:38:18
Status
New
Announcement Sub Title
Recording of Gain Relating to Loss of Control of Sprint
Announcement Reference
SG200625OTHRA499
Submitted By (Co./ Ind. Name)
Jin Nakamura
Designation
Deputy General Manager, Investor Relations
Description (Please provide a detailed description of the event in the box below)
SoftBank Group Corp. (SBG) announced today that it expects to record a gain of approximately JPY 750 billion (before taxes) relating to loss of control of Sprint Corporation (Sprint), which was a U.S. subsidiary of SBG, under net income from discontinued operations in its consolidated statement of income for three-month period ending June 30, 2020. This is the result of Sprint ceasing to be a subsidiary of SBG upon completion of the merger with T Mobile US, Inc. (the Transaction) on April 1, 2020 (Eastern Time), as announced in Completion of Merger of Sprint and T-Mobile dated April 2, 2020.

Attachments

SBG2020062502.pdf
Total size =369K