Softbank Corp. will strengthen support for Willcom Inc.’s rehabilitation process, signing a fresh deal to help turn around its existing personal handy-phone service.
Softbank, which has been offering advice to Willcom on cost-cutting measures for the existing service, said it will send an administrator for the rehabilitation and will help the PHS operator repay ¥41 billion in debt under the sponsor deal.
Softbank, which operates mobile phone carrier Softbank Mobile Corp., decided on the deal after receiving a strong request from a court-appointed administrator for more direct assistance for the PHS operator’s turnaround.
Under a basic rehabilitation agreement reached in March, Softbank is involved in turning around Willcom’s high-speed, next-generation PHS service, known as Willcom Core XGP, but did not offer to assist the existing PHS business.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.