Earnings Results for the Six-Month Period Ended September 30. 2011

Earnings Results for the Six-month Period Ended September 30, 2011

(April to September 2011)

October 27, 2011 SOFTBANK CORP. Disclaimer This material was prepared based on information available and views held at the time it was made. Statements in this material that are not historical facts, including, without limitation, plans, forecasts and strategies are “forward-looking statements”. Forward-looking statements are by their nature subject to various risks and uncertainties, including, without limitation, a decline in general economic conditions, general market conditions, technological developments, changes in customer demand for products and services, increased competition, risks associated with international operations, and other important factors, each of which may cause actual results and future developments to differ materially from those expressed or implied in any forward-looking statement. With the passage of time, information in this material (including, without limitation, forward-looking statements) could be superseded or cease to be accurate. SOFTBANK CORP. disclaims any obligation or responsibility to update, revise or supplement any forward-looking statement or other information in any material or generally to any extent. Use of or reliance on the information in this material is at your own risk. Information contained herein regarding companies other than SOFTBANK CORP. and other companies of the SOFTBANK Group is quoted from public sources and others. SOFTBANK CORP. has neither verified nor is responsible for the accuracy of such information.

* Please refer to the last page for details relating to the application of new accounting standards, definition of terms, trademarks and registered trademarks used in this material. 3 Years have passed since Lehman shock

2 JPY 1.9t Commitment (1) Consolidated Net Interest-bearing Debt Accomplished 6 months before the target date Half (by March 2012) JPY 0.7t

Mar. 2008 Sept. 2011 3 Aggregate JPY 1.18t Commitment (2)

FY2011/H1 Consolidated Free Cash Flow JPY 235.2bn

Target of JPY 1t (3 year aggregate) FY2010 Accomplished 6 months JPY 561.3bn before target date

FY2009 JPY 390.8bn 4 JPY 629.1bn Commitment (3) Consolidated Operating Income （Original forecast） JPY 465.8bn JPY 500.0bn Achieved JPY 359.1bn JPY 420.0bn commitments for 3 JPY 340.0bn consecutive years

FY2008 FY2009 FY2010 5 JPY 373.2bn Consolidated Operating Income x2 in 3 years

JPY 180.0bn

FY2008/H1 FY2011/H1 6 Operating Income Increase Ranking (FY08/H1 vs FY11/H1 forecast)

Rank Company Name Increment (JPY bn)

1 SOFTBANK (actual results) 193.2 2 Takeda Pharmaceutical 140.9 3 years increment

3 NISSAN MOTOR 97.9 #1 4 Mitsubishi Chemical Holdings 40.9 domestically 5 TORAY 29.3

6 FANUC (actual results) 28.8

7 Yamada Denki 25.8

8 Kirin Holdings (actual results) 25.2

9 DeNA 25.0 (Source) Bloomberg data Among profitable companies in FY2008/H1 and listed on TSE. FY2011/H1 forecast by Bloomberg. 10 Osaka Gas 22.7 7 Consolidated Earnings Results

8 Highlights

1. Net income JPY 217.2bn (YoY x2.8) a record high for 3 consecutive periods

2. Operating income JPY 373.2bn (YoY ＋18％) a record high for 6 consecutive periods

9 Consolidated (JPY bn) 1,535.6 1,465.0 Net Sales Record high for 2 consecutive periods 5% increase

3 Telecommunications businesses (Mobile communications, Broadband Infrastructure, Fixed-line Telecommunications) Internet Culture Others 0 2003 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 (FY) H1 H1 H1 H1 H1 H1 H1 H1 H1 10 533.1 (JPY bn) Consolidated EBITDA 459.3 Record high for 8 consecutive periods 16% increase

3 Telecommunications businesses (Mobile communications, Broadband Infrastructure, Fixed-line Telecommunications) Internet Culture

0 Others

2003 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 (FY) H1 H1 H1 H1 H1 H1 H1 H1 H1 11 373.2 Consolidated (JPY bn) Operating Income 315.5 Record high for 6 consecutive periods 18% increase

3 Telecommunications businesses (Mobile communications, Broadband Infrastructure, Fixed-line Telecommunications) Internet Culture

0 Others

2003 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 (FY) H1 H1 H1 H1 H1 H1 H1 H1 H1 12 314.4 (JPY bn) Consolidated Ordinary Income 253.8 Record high for 6 consecutive periods 24% increase

2003 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 (FY) H1 H1 H1 H1 H1 H1 H1 H1 H1 13 217.2 Consolidated (JPY bn) Net Income Record high for 3 consecutive 76.8 periods x2.8 YoY

2003 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 (FY) H1 H1 H1 H1 H1 H1 H1 H1 H1 14 235.2 Consolidated 219.6 (JPY bn) Free Cash Flow Record high for 3 consecutive periods

0 2008 ’09 ’10 ’11 (FY) H1 H1 H1 H1 15 (JPY t) Net Interest-bearing Debt JPY 2.1t 2 /EBITDA multiple x0.7

EBITDA 1 Approx. JPY 1t

Net interest-bearing debt JPY 728.7bn

2006 ’07 ’08 ’09 ’10 ’11 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 16 *EBITDA: sum of FY2010/H2 and FY2011/H1 Net Interest-bearing Debt/EBITDA Multiple

SOFTBANK x0.7 Panasonic x0.8

KDDI x0.9

NTT x0.9

TOSHIBA x1.6

SHARP x1.7

HITACHI x2.4

Kirin HD x2.5

AEON x2.6

NIPPON STEEL x2.7

(Source) Created by SOFTBANK CORP. based on Japan Company Handbook. Based on recent net interest-bearing debt, EBITDA except for SOFTBANK CORP. which is calculated based 17 on the sum of FY2010/H2 and FY2011/H1. Commitment to Reduce Net

2.4t Interest-bearing Debt

1.9t

1.5t Commitment

1.2t Unchanged

0.7t

Zero June FY2008 FY2009 FY2010 Sept. FY2014 18 2006 2011 (target) Summary of Consolidated Earnings Results

FY10/H1 FY11/H1 Increment YoY (JPY bn) (Apr. - Sept. 2010) (Apr. - Sept. 2011)

Net sales 1,465.0 1,535.6 +70.6 105%

EBITDA 459.3 533.1 +73.7 116%

Operating 315.5 373.2 +57.7 118% income Ordinary 253.8 314.4 +60.6 124% income Net income 76.8 217.2 +140.4 283% 19 Consolidated EBITDA (JPY bn) NTT DOCOMO (FY10/H1) 860.7

533.1 SOFTBANK 475.2 KDDI

2005 ’06 ’07 ’08 ’09 ’10 ’11 (FY) H1 H1 H1 H1 H1 H1 H1 20 *Created by SOFTBANK CORP. based on respective companies’ publicly available information (JPY bn) Consolidated Operating Income NTT DOCOMO (FY10/H1) 531.5

373.2 SOFTBANK

266.7 KDDI

2005 ’06 ’07 ’08 ’09 ’10 ’11 (FY) H1 H1 H1 H1 H1 H1 H1 21 *Created by SOFTBANK CORP. based on respective companies’ publicly available information (JPY bn) Consolidated Net Income NTT DOCOMO

(FY10/H1) 309.7

217.2SOFTBANK

140.1 KDDI Surpassed for the first time

2005 ’06 ’07 ’08 ’09 ’10 ’11 (FY) H1 H1 H1 H1 H1 H1 H1 22 *Created by SOFTBANK CORP. based on respective companies’ publicly available information Mobile Communications Business

23 1,490k Net adds （Apr. - Sept.）

980k

660k

au NTT DOCOMO SOFTBANK 24 4,000

(mil) 31.05mil Cumulative 3,00030 Subscribers

WILLCOM x2 in 5 years

2,00020

15.22mil

Vodafone Japan SOFTBANK

1,00010 25 Apr. 2006 Sept. 2011 3,000 Data ARPU (FY10/Q2) (JPY) 2,540 2,520 SOFTBANK NTT DOCOMO 2,460 au

2,000 Steady growth

Vodafone Japan

1,000 2005 ’06 ’07 ’08 ’09 ’10 ’11 (FY)

Q2 Q2 Q2 Q2 Q2 Q2 Q2 *Created by SOFTBANK CORP. based on respective companies’ publicly available information 26 Mobile Communications Business

(JPY bn) Telecom Revenue 711.8

625.3 Steady growth 14% increase YoY

0 2007 ’08 ’09 ’10 ’11 (FY) H1 H1 H1 H1 H1 27 2,500 Mobile (JPY bn) Communications Business 2,000200 Operating Income

150 Vodafone 1,500 Japan

100 1,000

43.5 50050

0 2002 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 (FY) H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 28 250.0 2,500 Mobile (JPY bn) Communications 207.2 Business 2,000200 Operating Income

150 Vodafone 1,500 Japan SOFTBANK Significant 100 1,000 increase

43.5 21% increase 50050 YoY

0 2002 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 (FY) H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 29 Mobile Communications Business (JPY bn) 600 Operating Income 6,000 NTT DOCOMO (FY10/H1) 531.4

4,000400

250.0 SOFTBANK

2,000200 231.1 au Surpassed for the first time

2006 ’07 ’08 ’09 ’10 ’11 (FY) H1 H1 H1 H1 H1 H1 30 *Created by SOFTBANK CORP. based on respective companies’ publicly available information Net Additions WILLCOM (6 months)

(k) 400k 300 Turnaround to increase

-300

H2 H1 H2 H1 H2 H1 H2 H1 31 2007 2008 2009 2010 2011 Telecom Service YoY Rate (FY11/H1)

SOFTBANK 14%

China Mobile 8%

AT&T 8%

America Movil 7%

SingTel （FY11/Q1）7% Verizon 6% World’s NTT DOCOMO （FY11/Q1）-1% No1 au -7% 32 *Comparison of high ranking market cap mobile operators worldwide. Operating Income YoY Rate (FY11/H1)

SOFTBANK 21%

NTT DOCOMO （FY11/Q1） 11%

China Mobile 2%

Verizon 0.3%

AT&T -2% World’s America Movil -3% No.1

au -7% *Comparison of high ranking market cap mobile operators worldwide. 33 Data ARPU Ratio YoY (FY11/Q2)

SOFTBANK 58%

au 54%

NTT DOCOMO （FY11/Q1） 53%

Verizon （Including SMS） 39%

AT&T （Including SMS）38%

19% Vodafone UK World’s SingTel （FY11/Q1）19% No.1 France Telecom 18%

Telefonica 18% *Comparison of high ranking market cap mobile operators worldwide. 34 Can SOFTBANK continue to grow?

35 iPhone 4S Comparison Mega Store Survey Example

If you were to buy an iPhone 4S which one would you buy? 36 (Translated for reference only) The fog has cleared

37 iPhone 4S Launched October 14

Record high preorders

38 SOFTBANK au iPhone 4S iPhone 4S

39 SOFTBANK iPhone 4S Realtime incoming text messaging SOFTBANK possible Best Data communication while talking SOFTBANK possible smartphone Talk while using apps SOFTBANK possible ever Emoticon email to all operators SOFTBANK possible

FaceTime SOFTBANK possible iMessage SOFTBANK possible

Visual Voicemail SOFTBANK possible

Fastest communication speed SOFTBANK 14.4Mbps (down link) SMS while roaming international SOFTBANK 212 countries/regions 40 No.1 Operator in Monthly Net Adds (Japan)

2007 2008 2009 2010 2011

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov. Dec. 41 Tackle the last hurdle

42 160k No. of Base Stations

120k x8 in 5 years

20k

0 2006 ’06 ’07 ’07 ’08 ’08 ’09 ’09 ’10 ’10 ’11 (FY) 43 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 *Excluding home femtocell and home repeaters. (%) Coverage Ratio at Home 100 NTT DOCOMO au SOFTBANK

95 Improved to par level 90

85 Mar. 2010 Sept. 2011 （Source）Network coverage survey executed by SOFTBANK CORP. （Sept. 2011, n=3,000） 44 (%) Overall Connection Ratio 100

NTT DOCOMO SOFTBANK 95 Connection ratio

90 par to DOCOMO

85 2010 2011 2011 May Sept. 45 Nov. *Survey by external research company (n=100k/month) Number of Wi-Fi Access Points

SOFTBANK 125,000 (As of Oct. 25, 2011)

au Approx.30,000

NTT DOCOMO Approx. 6,800

46 *Surveyed by SOFTBANK CORP. In addition to Toei Lines Start wireless LAN on Tokyo Metro

Free use in all stations of all lines Beginning November 1st

47 Scheduled to apply for 900MHz bandwidth

When license obtained begin service in summer of 2012

48 (JPY bn) 500.0500.0 Consolidated CAPEX 420.5 JPY 1t in 2 years

0 2006 ’07 ’08 ’09 ’10 ’11 ’12 (FY) 49 (plan) Confident about further growth

50 Internet Company

51 900 Internet Companies Group

52 Change in Competitive Environment 2G 3G 4G

Mobile phone Mobile Internet

Telecom company Internet company 53 Technological Evolution

Around 10 Years Ago Now

x250 CPU 30 DMIPS 7,500 DMIPS x50 LCD 20k dots 1,000k dots

Communication x650 64 Kbps 42 Mbps speed 54

*104SH for the comparison of CPU and LCD. Use SoftBank 4G for the current speed. From Voice Device to Internet Machine

Around 10 Years Ago Now

Number of i-mode etc. x4,000 applications 200 800,000

10 years ago: total number of i appli, ezplus and J-Sky appli at their launch Now: total number of AndroidMarket and AppStore as of August 2011 55 Internet Machine

Smartphone Tablet

56 Forecast No. of Shipped Smartphones Worldwide (bn) 2.5 Entering Internet Conventional handset Machine Era 2.0 90%

1.5

1.0 Smartphone 0.5 33%

0 2011 2020 (CY)

(Source) “2011 Survey Results on Smartphone Market” issued by Yano Research Institute in July 2011 57 Shipment forecast between 2017 and 2020 was created by SOFTBANK CORP. based on the above information Forecast No. of Shipped PCs Worldwide (mil) 800 Entering Internet Machine Era 600 PC 70%

400

200 Tablet 19%

0 2011 2020 (CY) (Source) Number of tablet shipment: “2011 Survey Results on Tablet Market” issued by Yano Research Institute in July 2011 58 Number of PC shipment: “Worldwide Quarterly PC Tracker” issued by IDC in September 2011 Number of PC shipment between 2015 and 2020 was created by SOFTBANK CORP. based on above information. Ratio of Smartphones Announced 100% 92% SOFTBANK

60% NTT DOCOMO

50% 43% au

16% 0% Summer 2010 Winter 2010 to Summer 2011 Winter 2011 to *Comparison among mobile phones 59 Spring 2011 Spring 2012 *Created by SOFTBANK CORP. based on respective companies’ publicly available information Tablet Sales Share (Japan)

Approx. 80% Others monopoly

SOFTBANK 77%

（Source）Created by SOFTBANK CORP. based on external research of number of tablets with 3G functionality sold at the major electronic retailers (Apr. - Sept. 2011) 60 (JPY) 6,000 Data Becomes Source of Revenue

4,000 Voice ARPU

2,000 Data ARPU

2006 ’07 ’08 ’09 ’10 ’11 (FY) 61 (Q2) Further evolution as an Internet company

62 Alibaba Group stock value

* JPY 2.7t

Assumed market *Alibaba Group stock value ($35.0bn) 63 value *Converted at 1$＝77JPY Alibaba Group stock value

* JPY 2.7t

SB equity (900.0bn)

Assumed market *Alibaba Group stock value ($35.0bn) 64 value *Converted at 1$＝77JPY JPY 8t Alibaba Group stock value

* JPY 2.7t

SB equity (900.0bn)

Assumed market Market *Alibaba Group stock value ($35.0bn) 65 value capitalization *Converted at 1$＝77JPY Shopping Transaction (JPY t) Volume JPY 5t Taobao 5 (Alibaba Group)

3 JPY 2.8t

（Source）2007-2009 Taobao shopping transaction volume disclosed by Alibaba 2010: Reuters press release 66 2007 ’08 ’09 ’10 (FY) Amazon: shopping transaction volume disclosed in annual report One of the largest mobile ad networks in the world

Reaches 340mil consumers Ad impressions 47bn/month

67 Strategic Investment in InMobi

Initial investment $100mil（Sept. 2011） Additional investment $100mil（Apr. 2012）

Will be largest shareholder

68 (mil) Worldwide User Reach 400,000,000 400 340mil users

300,000,000300 Rapid increase

200,000,000 200

100,000,000 100

0 2007 ’08 ’09 ’10 ’11 (CY) Aug. Aug. Aug. Aug. （establish） 69 Worldwide Mobile Ad Market JPY 670.0bn

Growing rapidly

JPY 215.0bn

(Source) PWC Global entertainment and media outlook 2011-2015

0 2010 2011 2012 2013 2014 2015 (CY) (forecast) 70 Establish incubation JV

71 India Mobile Operator Ranking

Rank Company Name Users (mil) No.1 in 1 Bharti Airtel 170 India 2 Reliance Communications 150

3 Vodafone 140

4 Idea Cellular 100

5 BSNL 90

6 Tata Teleservices 90

(Source) Forecast for the end of Sept. 2011 by Wireless Intelligence 72 Mobile Phone Subscribers (bn)15 1.35bn Becoming global #1 mobile market 1.22bn 1.010

0.55 0.37bn

0.14bn 0 2000 ’05 ’10 ’15 (CY) 73 (Source) Wireless Intelligence (forecast) Established an Incubation JV

50 50％％

(Bharti SoftBank) 74 Social Media Game Commerce ・・・ Deploy Mobile Internet Businesses in India 75 SOFTBANK will continue to grow

76 Commitments Unchanged

No. of lines No. of lines 30mil 40mil Consolidated Consolidated EBITDA operating income JPY 1t JPY 1t

Net interest-bearing debt Half Zero

FY11 FY14 FY1X 77 Which One Will Grow? Telecom or Internet Company Company

78 Towards World’s No.1 Mobile Internet

79 80 1. Application of accounting standard for disclosure on segments

The “Accounting Standard for Disclosures about Segments of an Enterprise and Related Information” and related “Guidance on the Accounting Standard for Disclosures about Segments of an Enterprise and Related Information” are applied from FY2010/Q1. Financial results for FY2009 are shown based on the new standard for comparison purposes only and have neither been audited nor reviewed by our independent auditors. All financial information for FY2009 presented herein based on the new standard are subject to our audited and reviewed financial reports for the relevant corresponding periods.

2. Definition of terms etc. in this material. Free cash flow (FCF): cash flows from operating activities + cash flows from investing activities.

EBITDA: operating income (loss) + depreciation and amortization (including amortization of goodwill), and loss on disposal of fixed assets included in operating expenses.

Net interest-bearing debt: interest-bearing debt - cash position Interest-bearing debt: short-term borrowings + commercial paper + current portion of corporate bonds + corporate bonds + long-term borrowings. Lease obligations are not included. This excludes the corporate bonds (WBS Class B2 Funding Notes, issued by J-WBS Funding K.K.) with a face value of JPY 27.0bn acquired by SOFTBANK CORP. during FY2009 that were issued under the whole business securitization financing scheme associated with the acquisition of Vodafone K.K. Cash position: cash & cash deposits + marketable securities recorded as current assets. (excludes Yahoo! Inc. shares which were held by a subsidiary of SOFTBANK CORP. in the United States of America).

Record high, record high revenue: since SOFTBANK CORP. applied consolidated accounting in FY1994. Q1 - 2 comparison basis.

SOFTBANK CORP. owns 100% shares issued by WILLCOM, Inc. However, WILLCOM, Inc. is in the process of reorganization under the Corporate Reorganization Act and the Company does not have effective control over WILLCOM, Inc. Therefore, WILLCOM, Inc. is not treated as a subsidiary.

3. Trademarks and registered trademarks

The names of other companies, other logos, product names, service names, brands, etc., mentioned in this material are registered trademarks or trademarks of SOFTBANK CORP. or the applicable companies. Unauthorized copying of this material and use of the information or the data in this material in whole or in part are not permitted. - Apple, the Apple logo, iPhone and iPad are trademarks of Apple. - The trademark “iPhone” is used with a license from Aiphone K.K.