TAX NEWS - 2010

Japan tax: Yahoo Japan to Pay Y26.5B Extra Tax, Softbank says

TOKYO -- Softbank Corp. said Wednesday it will book an additional corporate tax payment of Y26.5 billion for the April-June quarter due to a payment order received by its subsidiary, Yahoo Japan Corp.

The additional tax payment will push down Softbank's net profit in the quarter by Y24.8 billion, the company said in a statement.

The payment order from the Tokyo Regional Taxation Bureau relates to Yahoo Japan's acquisition of Softbank's data center and network business unit in February 2009, it said.