OREANDA-NEWS. SoftBank Corp. announces that it has decided to tender in the tender offer for shares of GungHo Online Entertainment, Inc., which was resolved at GungHo's board of directors' meeting held today, and the Company and GungHo entered into an Agreement to Tender Shares in Tender Offer, under which the Company has agreed to tender in the Tender Offer a portion of the common shares of GungHo held by the Company, as described below.

After the completion of the Tender Offer, the Company expects that GungHo will not be qualified as a subsidiary and will newly become an associate of the Company.

Shares to be tendered - Common shares of GungHo; 188,235,200 shares (ownership ratio: 16.34%)
Tender offer price - JPY 425 per share
Tender offer period - April 30, 2015 to June 1, 2015
Start date of settlement - June 24, 2015.