SoftBank to reorganize into two separate companiesStaff writer ▼ | March 9, 2016
SoftBank Group Corp. (SBG) board decided to conduct a reorganization and create two core businesses - domestic operations and global operations.
SBG will split in two Global operations management will be in Japan
Nikesh Arora and Ken Miyauchi concurrently serve as representative director, president & COO of SBG, and director of SBG respectively.
The investment securities held by SBG will be transferred to each operations management company in phases. This transaction may include the method of contributions in kind.
The investment securities of global subsidiaries and affiliates such as Starburst, a holding company that holds the shares of Sprint Corporation, and Alibaba Group Holding Limited are projected to be transferred primarily to the global operations management company from SBG.
The investment securities of domestic subsidiaries and affiliates such as SoftBank Corp. and Yahoo Japan Corporation are projected to be transferred primarily to the domestic operations management company from SBG.
The timing and method of the transfer will be left to the discretion of Masayoshi Son, chairman and CEO of SBG. The transfer is due to complete by December 31, 2016.
The transfer will be conducted after addressing any procedures required, including approval of SBG's General Meeting of Shareholders, consent from all related parties including regulatory agencies, and compliance with relevant laws and regulations and any contractual matters. ■