SoftBank Corp. Initial Public Offering

Davis Polk advised the joint global coordinators in connection with the initial public offering of 1,603,693,700 shares of common stock of SoftBank Corp. The shares were sold by SoftBank Group Japan Corporation, a wholly owned subsidiary of SoftBank Group Corp. In addition, the underwriters have an over-allotment option with respect to 160,369,400 shares. The global offering consisted of an offering in Japan and an international offering outside Japan pursuant to Rule 144A and Regulation S. The shares are listed on the Tokyo Stock Exchange. After full exercise of the over-allotment option, the aggregate proceeds of the global offering will be approximately ¥2.646 trillion (approximately $23.5 billion). This initial public offering is the largest IPO in Japan and the second-largest IPO globally to date.

SoftBank Corp. is one of Japan’s largest telecommunications providers, offering a wide range of mobile and fixed-line telecommunications services and products to consumers and enterprises in Japan.

The Davis Polk corporate team included partner Jon Gray, counsel Christopher J. Kodama and associates Chihiro Sasaki and Mari Foster. Counsel Alon Gurfinkel and associate Veronica Davis provided tax advice. Members of the Davis Polk team are based in the Tokyo and London offices.