SOFTBANK CORP.
RESULTS FOR THE FISCAL YEAR ENDED MARCH 31, 1999
FINANCIAL HIGHLIGHTS(Yen in millions, except per share amounts)(1) FINANCIAL PERFORMANCE RESULTS
3/31/99

3/31/98

Net Sales

528,159

513,364

Operating Income

12,12927,893

Ordinary Income (loss)(15,447)

24,271Net Income

37,53810,303

Earnings per Share (primary)
Earnings per Share (diluted)

365.38342.11100.7792.29

102,952,005

102,414,462

3/31/99

3/31/98

Total Assets

952,578

1,140,251

Shareholders' Equity

284,975

242,758

3/31/9929.9%

3/31/9821.3%

2,719.35

2,375.24

104,806,839

102,419,805

Average number of shares outstanding(2) FINANCIAL CONDITION

Equity/Total Assets
Shareholders' Equity per Share
Number of shares outstanding at year-end-1-

CONSOLIDATED BALANCE SHEET

Accounts

Thousands ofU.S. dollars *1

Millions of yen, rounded down
As of
As of
March 31, 1999
March 31, 1998

As ofMarch 31, 1999ASSETS
Current Assets:
CashNotes and accounts receivable - Trade
Marketable securities
Inventories
Other current assets
Allowance for bad debts(short-term)

92,601
114,348
15,47628,310
57,474(8,872)

34,541
109,464
17,461
29,193
51,110(1,894)

768,154
948,552
128,378
234,840
476,765(73,596)

Property, plant, and equipment(net)16,11914,104

133,712Intangible assets:
Goodwill
Trade names
Advertiser lists
Other intangible assets

166,894
155,661
94,53762,221

175,868
181,727
110,911
71,235

1,384,438
1,291,257
784,214516,143

Investments and Advances:
Investments in securities
Long-term loans
Other investments
Allowance for bad debts(long-term)

135,168
2,914
16,106(1,069)62,056
274,567
12,618(3,266)

1,121,261
24,173
133,604(8,868)

57
16

213
105

473
133

Fixed Assets:

Deferred charges:
Bond issuance costs
Other deferred charges
Consolidation adjustment
Cumulative translation adjustments

-232

4,608

TOTAL ASSETS

952,578-

1,140,251

38,225
7,901,933

Note1) U.S dollar amounts have been translated form yen, for convenience only, at the rate of 120.55 yen = U.S.$1, the approximate Tokyo foreign exchange market
rate as of March 31, 1999.

-2-

CONSOLIDATED BALANCE SHEET

Accounts

Thousands ofU.S. dollars *1Millions of yen, ronded down
As ofAs of
March 31, 1999
March 31, 1998

As ofMarch 31, 1999

LIABILITIES AND SHAREHOLDERS' EQUITYCurrent Liabilities:
Notes and accounts payable - trade
Short-term loan payable
Commercial paper
Current portion of bonds payable
Income taxes payable

57,54923,28520,00018,915
3,665

48,774
61,68910,00019,60010,360477,387
193,156
165,906
156,906
30,402

Accrued expenses
Allowance for sales return
Other current liabilities

18,845
4,928
37,407

17,766
9,122
37,917

156,325
40,879310,303

154,500
45,508
182,183
9,753
28,623
205

184,000
53,679352,682
19,44525,594

1,281,626
377,503
1,511,265
80,904
237,437
1,701

Long-term Debt:
Bonds payable
Convertible bonds payable
Long-term notes payable
Deferred tax liabilities
Other non-current liabilities
Consolidation adjustment
Cumulative translation adjustments
Minority Interest-

35,645
11,215-TOTAL LIABILITIES

605,370

897,493

5,021,734

MINORITY INTEREST

62,232-516,234

Common stock
Additional paid-in capital
Retained earnings
Unrealized loss on marketable equity securities
Treasury Stock104,598
127,934
52,556(8)(105)

101,884
120,762
23,266(1,996)(1,158)TOTAL SHAREHOLDERS' EQUITY

284,975

242,758

Total Liabilities and Shareholders' Equity

952,578

1,140,251

867,673
1,061,253
435,968
(66)
(871)
0
2,363,957
00
7,901,933

Shareholders' Equity:

Note1) U.S dollar amounts have been translated form yen, for convenience only, at the rate of 120.55 yen = U.S.$1, the approximate Tokyo foreign exchange market
rate as of March 31, 1999.

-3-Consolidated Statement of Income

Accounts

Millions of yen, ronded downYear EndedYear Ended
March 31, 1999
March 31, 1998

Net Sales
Cost of Sales
Gross Profit
Selling, General and Administrative Expenses *2
Operating Income
Non-Operating Income:Non-Operating Expenses: *3
Ordinary Income
Special Income
Special Loss
Income Before Income Taxes
Provision for Income Taxes *2
Cummulative effect of a change in accounting
method(Income tax computation)
Minority Interest
Amortization of Excess of Investment Costs over
Net Assets of Subsidiaries
Equity in losses
Net Income
Retained Earnings :Beginning Balance (as of 3/31/97)
Cash Dividends
Transfer to Legal Reserve
Directors' Bonus
OthersEnding Balance (as of 3/31/98)

Thousands ofU.S. dollars *1Year Ended
March 31, 1999

528,159(352,412)
175,746(163,617)
12,12919,80847,385(15,447)
66,115(14,028)
36,639(3,334)513,364(350,047)
163,317(135,423)
27,89334,915(38,537)
24,271
9,894(3,738)30,428(13,131)

4,381,244(2,923,368)
1,457,868(1,357,254)
100,614164,314393,073(128,138)
548,445(116,367)
303,932(27,657)-

2,337(2,172)35,114

4,233--

37,538(26)(7,131)
10,303311,389

23,266(4,088)(53)(4,106)52,556

18,345(1,574)(163)(55)(3,912)
22,944

192,999(33,911)(440)(34,061)435,968

Note1) U.S dollar amounts have been translated form yen, for convenience only, at the rate of 120.55 yen = U.S.$1, the approximate Tokyo foreign exchange
market rate as of March 31, 1999.
2) As a result of changes in consolidated accounting rules this year, enterprise tax have been reclassified from Operating expenses to Income taxes.
Enterprise tax for the year ended March 31, 1998 was 4,043 milliion yen.
3) Equity in losses of 6,495 million yen are included in Non-Operating Expenses.

-4-Segment Information
A. Business Segment(Millions of yen, rounded down)
Software andNetwork

Net Sales and Operating
Income (Loss) :Net Sales(1)Net Sales to1
outside customers(2) Inter-Segment
net sales
Total
Operating Expense
Operating Income
Assets, Depreciation
and Capital Expenditures :2
AssetsDepreciation
Capital Expenditures

Media

for the year ended March 31, 1999
TechnologyServices
Internet
Events

Other

Total

Elimination or
UnallocableAmounts-Consolidated
Total

214,077

104,993

38,806

146,547

12,462

11,273528,159

528,159

1,578

167

0

3,813

465

2,379

8,404

(8,404)-

215,655
211,850
3,805

105,160
109,992(4,831)38,806
29,514
9,291

150,360
144,957
5,403

12,927
13,520(593)

13,652
14,633(981)

536,563524,468
12,094(8,404)(8,439)35

528,159
516,029
12,12995,943
1,330
1,088

386,916
13,792
5,190

25,8304,982
1,251

171,302
7,759
1,438

115,774
1,006
1,452

175,9112,028
550

971,678
30,898
10,971(19,100)421
94952,578
31,32011,065(Millions of yen, rounded down)
Software andNetwork
Net Sales and Operating
Income (Loss) :Net Sales(1)Net Sales to1
outside customers(2) Inter-Segment
net sales
Total
Operating Expense
Operating Income
Assets, Depreciation
and Capital Expenditures :2Assets
Depreciation
Capital Expenditures

for the year ended March 31, 1998
Publishing TechnologyServices
Other
EventsTotal

192,616

117,966

36,741

159,657

6,382

513,364

85

153

16

6,113

486

192,701
189,028
3,673

118,119
104,187
13,93136,75827,151
9,606

165,770
159,855
5,915

103,564
689
562

473,101
13,012
2,706

193,543
4,487
1,095

238,915
10,0602,388

Elimination or Consolidated
Unallocable
Total
Amounts-

513,364

6,854(6,854)-

6,869
11,545(4,676)520,219
491,768
28,450(6,854)(6,297)(557)

513,364
485,470
27,893

97,7801,009
205

1,106,905
29,265
6,959

33,346217
151

1,140,251
29,482
7,110

Note 1

1: The classification of business segments to be adopted is based on the one which has been used for management purpose.
Previously, the Internet business segment was included in the Other business segment. However, in recognition of the financial significanceof this business segment, it was broken out into a separate business segment. On a pro forma basis, the Internet segments results for theyear ended March 31, 1998 would be as follows: Net Sales to outside customers 3,419, Inter-Segment net sales 486, Operating Expense 4,616
Operating Income (710), Assets 31,191, Depreciation 54, Capital Expenditures 130. (YEN in millions)
2:1) Software and network
Distribution of PC software, PC hardware and network related products and Internet-related business
2) Media
Publishing of PC-related books and magazines, game multimedia titles, Magazines used as medium for advertising business,
Manuals and catalogues produced on consignment, and Digital satellite broadcasting business
3) Technology Events
Computer trade show operations4) Services
Design, production and tele-marketing of memory and processor for PC-related products5) Internet
Investment in internet-related business, Internet directory services6) OtherInternationally located holding companies and education related businesses
Note 2
The amounts of assets included in the column "Elimination or Unallocable Amounts" is 86,746 million yen, which
includes surplus assets (cash and securities), long-term investment in securities and assets in the administration departmentof the Company.
Note 3
Depreciation and capital expenditure include long-term prepayments and deferred charges and their amortization.
Note 4
As a result of changes in consolidated accounting rules this year, enterprise tax have been reclassified from Operating expenses to Income taxes.
Enterprise tax, which for the year ended March 31, 1998 was included in Operating Expense, was as follows: Software and Network
Segment 688, Media Segment 274, Technology Events Segment 10, Services Segment 81, and the Other Segment 2,804. Operating
Income was reduced by the same amounts. (YEN in millions)-5-B. Geographic Areas(Millions of yen, rounded down)
for the year ended March 31, 1999
NorthEurope
OtherAmerica

Japan

Net Sales and Operating
Income (Loss) :Net Sales(1)Net Sales to1
outside customers(2) Inter-Segment
net sales
Total
Operating Expense
Operating Income
2 Assets

Total

226,815

235,823

43,07622,445528,159

16

2,746

2,379

0

226,831
217,789
9,042
136,294

238,569
240,914(2,344)
802,964

45,45541,9383,517
17,221

22,445
20,574
1,870
10,901Elimination or Consolidated
Unallocable
Total
Amounts-528,1595,142(5,142)-533,301
521,215
12,086967,381(5,142)(5,186)43(14,803)528,159
516,029
12,129952,578(Millions of yen, rounded down)
for the year ended March 31, 1998
NorthEurope
OtherAmerica

Japan

Net Sales and Operating
Income (Loss) :Net Sales(1)Net Sales to1
outside customers(2) Inter-Segment
net sales
Total
Operating Expense
Operating Income
2 Assets

218,337

274,361

15,377

77

2,913

44

218,414
213,305
5,109
562,570

277,274
254,232
23,043
523,547

15,421
15,225196
10,898Note 1
Geographic classifications
1: Methodology for classification2: Geographic areas

Total

5,288

Elimination or Consolidated
Unallocable
TotalAmounts

513,364--

3,035(3,035)

5,288
5,984
(696)
23,357516,399
488,747
27,652
1,120,373(3,035)(3,276)
241
19,878513,364
513,364
485,470
27,8931,140,251

Degree of relative distance to geographic areas
North America:United States, Canada
Europe:England, Germany, France
Other:
China, Hong Kong, Singapore, Australia

Note 2

The amounts of assets included in the column "Elimination or Unallocable Amounts" is 86,746 million yen, which
includes surplus assets (cash and securities), long-term investment in securities and assets in the administration departmentof the Company.

C. Net Sales in Overseas Countries
NorthAmerica
Net Sales in overseas
countries (A)Consolidated
Net Sales (B)Ratio (A) / (B)for the year ended March 31, 1999
Europe
Other
Total

North
America(Unit: YEN : millions, round down)
for the year ended March 31, 1998
EuropeOther
Total

224,971

47,12130,543

302,636

228,164

43,15018,905290,221---528,159---

513,364

42%

9%

6%

57%

45%

8%

4%

57%

Note 1
Geographic classifications
1: Methodology for classification
2: Geographic areas

Degree of relative distance to geographic areas
North America:United States, Canada
Europe:England, Germany, France
Other:
China, Hong Kong, Singapore, Australia-6-