2nd Aug 2005 08:11
Softbank Corp02 August 2005 SOFTBANK announces the sale of its shares held in Cisco Systems K.K. July 26, 2005 SOFTBANK CORP. announces that the Company has signed a disposal contract ofselling all shares held in Cisco Systems K.K. (head office: Minato-ku, Tokyo,representative: Yasuki Kurosawa) with Cisco Systems, Inc. (head office: SanJose, California, representative: John Chambers) 1. Outline of sale (1) Shares for sale: 160 preferred shares held in Cisco Systems K.K. (2) Sale price: US$ 25 million Approximately 2.8 billion yen (Yen equivalent based on an exchange rate of 1$ = 111.84 yen, as of July 25, 2005) (3) Buyer: Cisco Systems, Inc. (4) Time of delivery: July 2005 (Schedule) 2. Effect on financial results Gain on sale of investment securities would be recognized approximately 2.6billion yen on consolidated and stand-alone bases in the 2nd quarter for thefiscal year ending March 31, 2006. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Chesterfield Sp