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Softbank to Sell Its Entire Stake in Cisco's Japan Unit

Posted on: Tuesday, 26 July 2005, 12:00 CDT

Jul. 26--TOKYO -- Softbank Corp. said Tuesday it will sell its entire stake in Cisco Systems Inc.'s Japan unit to the U.S. parent company by the end of this month for about 2.8 billion yen.

Softbank said it decided to sell its 160 preferred shares in the Tokyo-based firm in response to a request from Cisco Systems of the United States and because it is no longer necessary to hold the shares given its asset structure.

In September 1994, Softbank acquired 1,920 shares in Cisco Systems K.K. It sold most of them -- excluding the to-be-sold 160 shares -- to the U.S. parent in January 2001.

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SFTBF, 9984, CSCO,

Source: Kyodo News International, Tokyo

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