UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULE 13D-1(A) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13D-2(A).
(AMENDMENT NO. 1)*
E*TRADE GROUP, INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
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(Title of Class of Securities)
269 246 104
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(CUSIP Number)
RONALD FISHER STEPHEN A. GRANT, ESQ.
SOFTBANK HOLDINGS INC. SULLIVAN & CROMWELL
10 LANGLEY ROAD, SUITE 403 125 BROAD STREET
NEWTON CENTER, MA 02159 NEW YORK, NY 10004
(617) 928-9300 (212) 558-4000
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
DECEMBER 31, 1998
------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
|_|.
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 (the "Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act (however, see the
Notes).
SEC 1746(12-91)
(continued on following pages)
<PAGE>
SCHEDULE 13D
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CUSIP NO. 269 246 104 PAGE 2 OF 13 PAGES
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SOFTBANK AMERICA INC.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) |_|
(B) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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7 SOLE VOTING POWER
15,647,922
------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY ------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 15,647,922
WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,647,922
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
27.6%
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14 TYPE OF REPORTING PERSON*
HC, CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
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CUSIP NO. 269 246 104 PAGE 3 OF 13 PAGES
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SOFTBANK HOLDINGS INC. I.R.S. Identification No.
95-446-7445
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) |_|
(B) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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7 SOLE VOTING POWER
15,647,922
------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY ------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 15,647,922
WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,647,922
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
27.6%
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14 TYPE OF REPORTING PERSON*
HC, CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
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CUSIP NO. 269 246 104 PAGE 4 OF 13 PAGES
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- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SOFTBANK CORP.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) |_|
(B) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
JAPAN
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7 SOLE VOTING POWER
15,647,922
------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY ------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 15,647,922
WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,647,922
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
27.6%
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14 TYPE OF REPORTING PERSON*
HC, CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
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CUSIP NO. 269 246 104 PAGE 5 OF 13 PAGES
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
MASAYOSHI SON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) |_|
(B) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
JAPAN
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7 SOLE VOTING POWER
15,647,922
------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY ------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 15,647,922
WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,647,922
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
27.6%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
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CUSIP NO. 269 246 104 PAGE 6 OF 13 PAGES
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SOFTBANK America Inc., a Delaware corporation ("SB America"), hereby
reports on Schedule 13D with respect to shares of Common Stock beneficially
owned by it. Mr. Masayoshi Son, a Japanese citizen ("Mr. Son"), SOFTBANK Corp.,
a Japanese corporation ("SOFTBANK"), and SOFTBANK Holdings Inc., a Delaware
corporation ("SBH" and, together with Mr. Son and SOFTBANK, the "Original
Reporting Persons"), hereby amend and restate the report on Schedule 13D for the
Original Reporting Persons, dated August 20, 1998 (the "Original Schedule 13D"),
filed by the Original Reporting Persons with respect to the Common Stock
beneficially owned by them. SB America and the Original Reporting Persons are
referred to herein as "Reporting Persons".
ITEM 1. SECURITY AND ISSUER.
This statement on and amendment to and restatement of Schedule 13D (this
"Statement") relates to the Common Stock, par value $0.01 per share (the "Common
Stock"), of E*Trade Group, Inc., a Delaware corporation (the "Issuer"). The
principal executive offices of the Issuer are located at Four Embarcadero Place,
2400 Geng Road, Palo Alto, California 94303.
ITEM 2. IDENTITY AND BACKGROUND.
(A), (B), (C) AND (F). SB America, a Delaware corporation, is a wholly
owned subsidiary of SBH, a Delaware corporation, which is a wholly owned
subsidiary of SOFTBANK, a Japanese corporation, which, as of December 31, 1998,
was 43.3% owned by Mr. Son, a Japanese citizen. Mr. Son's principal occupation
is president and chief executive officer of SOFTBANK. The principal business of
SBH and SB America is to serve as holding companies for operations and
investments of SOFTBANK. The business address of Mr. Son is c/o SOFTBANK Corp.,
24-1 Nihonbashi-Hakozakicho, Chuo-Ku, Tokyo 103-8501, Japan. SOFTBANK's
principal businesses include the provision of information and distribution
services and infrastructure for the digital information industry, the
distribution of computer software and network products and the publication of
Japanese computer technology magazines.
(D) AND (E). None of the Reporting Persons nor, to the best knowledge and
belief of SB America, SBH, SOFTBANK, and any of their respective executive
officers and directors, has during the last five years been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors) or
has been a party to any civil proceeding of a judicial or administrative body of
competent jurisdiction, and is or was, as a result of such proceeding, subject
to a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws, or finding any violation with respect to such laws.
Schedules 1, 2 and 3 hereto set forth the business address of SB America,
SBH and SOFTBANK, with respect to each executive officer of SB America, SBH and
SOFTBANK, respectively, the following information: (a) name, (b) residence
business address, (c) present principal occupation or employment and the name,
principal business and address of any corporation or other organization in which
such employment is conducted, and (d) citizenship.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
On August 20, 1998, pursuant to a Stock Purchase Agreement, dated as of
July 9, 1998 (the "Purchase Agreement"), by and between the Issuer and SBH, SBH
purchased 15,647,922 shares of Common Stock (the "Shares") from the Issuer for a
purchase price of $25.5625 per Share (the "Purchase"), for an aggregate purchase
price of $4,000,0006.13. SBH used available cash of SOFTBANK Corp. to fund this
acquisition.
On December 31, 1998, pursuant to a subscription agreement, of even date
therewith, between SBH and SB America (the "Subscription Agreement"), SBH
contributed 15,647,922 shares of Common Stock to SB America.
Except as described above, none of the persons listed in the Schedules
hereto contributed any funds or other consideration towards the purchase of the
Common Stock.
ITEM 4. PURPOSE OF TRANSACTION.
SBH contributed the Common Stock to the capital of SB America as part of a
reorganization of the corporations controlled by SOFTBANK.
Each Reporting Person expects to evaluate on an ongoing basis the Issuer's
financial condition, business operations and prospects, market price of the
Common Stock, conditions in securities markets generally, general economic and
industry conditions and other factors. Accordingly, each Reporting Person
reserves the right to change its plans and intentions at any time, as it deems
appropriate. In particular, each Reporting Person may, at any time and from time
to time: acquire additional Common Stock or securities convertible or
<PAGE>
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CUSIP NO. 269 246 104 PAGE 7 OF 13 PAGES
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exchangeable for Common Stock; dispose of shares of Common Stock; and/or enter
into privately negotiated derivative transactions with institutional
counterparties to hedge the market risk of some or all of its positions in the
Common Stock. Any such transactions may be effected at any time and from time to
time subject to any applicable limitations of the Securities Act of 1933, as
amended, and the contractual restrictions described in Item 6. To the knowledge
of each Reporting Person, each of the persons listed on Schedules 1, 2 and 3
hereto may make the same evaluation and reserves the same rights.
As of the date of the filing of this Statement, none of SB America,
SOFTBANK Holdings, SOFTBANK or Mr. Son, nor, to the best knowledge and belief of
SB America, SBH and SOFTBANK, any of their respective executive officers or
directors, has any other plan or proposal which relates to or would result in
any of the actions set forth in parts (a) through (j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(A). The percentage interest held by each Reporting Person presented below
is based on the number of shares of Common Stock reported to be outstanding as
of December 22, 1998 in the Issuer's Annual Report on Form 10-K for the fiscal
year ended September 30, 1998 (the "Outstanding Shares").
As of the date of the filing of this Statement, SB America beneficially
owns, and SBH, SOFTBANK and Mr. Son may be deemed to beneficially own through SB
America 15,647,922 shares of Common Stock comprising approximately 27.6% of the
Outstanding Shares.
Except as described in this Statement, none of the Reporting Persons, nor
to the best knowledge and belief of SB America, SBH or SOFTBANK, any of their
respective executive officers or directors beneficially owns any Common Stock or
securities convertible into Common Stock.
(B). Each reporting person shares the power to vote or direct the vote and
dispose or direct the disposition of the Common Stock beneficially owned by such
Reporting Persons.
(C). Except as described in this Statement, none of the Reporting Persons,
nor to the best knowledge and belief of SB America, SBH and SOFTBANK, any of
their respective officers or directors, has effected any transaction in the
Common Stock during the past 60 days.
(D) AND (E). Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Pursuant to the Stock Purchase Agreement, dated as of July 9, 1998 (the
"Purchase Agreement"), by and between the Issuer and SBH, SBH agreed to purchase
15,647,922 shares of Common Stock (the "Shares") from the Issuer for a purchase
price of $25.5625 per Share (the "Purchase"). The Purchase was consummated on
August 20, 1998.
Pursuant to the Purchase Agreement, except under limited circumstances,
SBH may not, directly or indirectly, sell, transfer, assign, pledge or otherwise
dispose of any interest in any of the Shares acquired pursuant to the Purchase
Agreement for a period of two years following the acquisition of such Shares. In
addition, SBH agreed that neither it nor any of its affiliates will acquire,
offer to acquire or agree to acquire, directly or indirectly, by purchase or
otherwise, any voting securities or direct or indirect rights to acquire any
voting securities of the Issuer or any subsidiary of the Issuer for a period of
five years without the prior written consent of the Issuer or its Board of
Directors. The Issuer agreed to cause Mr. Son to be elected or appointed as a
director of the Issuer.
In a Subscription Agreement, dated December 31, 1998, between SBH and SB
America, SBH subscribed to 100 shares of Common Stock of SB America for a
purchase price of $10 per share.
The Summary Descriptions contained in this Statement of certain agreements
and documents are qualified in their entirety by reference to the complete texts
of such agreements and documents filed as Exhibits either hereto or to the
Original Schedule 13D, and incorporated herein by reference.
Except as described in this Statement, or in the exhibits hereto, none of
the Reporting Persons, nor to the best knowledge of the SB America, SBH and
SOFTBANK, any of their respective directors or executive officers is a party to
any contract, arrangement, understanding or relationship with any other person
with respect to any securities of the Issuer, including, but not limited to
transfer or voting
<PAGE>
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CUSIP NO. 269 246 104 PAGE 8 OF 13 PAGES
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of any of the securities, finder's fees, joint ventures, loan or option
arrangements, put or calls, guarantees of profits, division of profits or loss,
or the giving or withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
1. Agreement of Joint Filing, dated as of January 11, 1999, by and
among SOFTBANK America Inc., SOFTBANK Holdings Inc., SOFTBANK
Corp. and Mr. Masayoshi Son.
2. Subscription Agreement by SOFTBANK Holdings Inc. to SOFTBANK
America Inc. dated December 31, 1998.
3. Stock Purchase Agreement, dated as of July 9, 1998, by and
between E*Trade Group, Inc. and SOFTBANK Holdings Inc.
(incorporated by reference to Exhibit C to the Statement on
Schedule 13D filed by SOFTBANK Holdings Inc., SOFTBANK Corp. and
Mr. Masayoshi Son, dated August 20, 1998).
4. Power of Attorney (incorporated by reference to Exhibit 24 to the
Statement on Schedule 13G filed by SOFTBANK, Mr. Son and SOFTBANK
Ventures, Inc. on February 18, 1998 with respect to Concentric
Network Corporation).
<PAGE>
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CUSIP NO. 269 246 104 PAGE 9 OF 13 PAGES
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
January 11, 1999 SOFTBANK AMERICA INC.
By: /s/ Stephen A. Grant
-----------------------------------
Stephen A. Grant
Attorney-in-fact
SOFTBANK HOLDINGS INC.
By: /s/ Stephen A. Grant
-----------------------------------
Stephen A. Grant
Secretary
SOFTBANK CORP.
By: /s/ Stephen A. Grant
-----------------------------------
Stephen A. Grant
Attorney-in-fact
MASAYOSHI SON
By: /s/ Stephen A. Grant
-----------------------------------
Stephen A. Grant
Attorney-in-fact
<PAGE>
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CUSIP NO. 269 246 104 PAGE 10 OF 13 PAGES
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SCHEDULE 1
DIRECTORS AND EXECUTIVE OFFICERS OF SOFTBANK AMERICA INC.
---------------------------------------------------------
The name, position and present principal occupation of each executive officer
and director of SOFTBANK America Inc. are set forth below.
The business address for SOFTBANK America Inc. and each of the directors and
executive officers listed below, except Masayoshi Son, Yoshitaka Kitao and
Hitoshi Hasegawa, is 300 Delaware Avenue, Suite 900, Wilmington, Delaware 19801.
The business address for Masayoshi Son, Yoshitaka Kitao and Hitoshi Hasegawa is
24-1, Nihonbashi-Hakozaki-cho, Chuo-ku, Tokyo 103 Japan.
All directors and executive officers listed below are American citizens, except
for Masayoshi Son, Yoshitaka Kitao and Hitoshi Hasegawa, who are citizens of
Japan.
Name Position Present Principal Occupation
- ---------------- --------------------- -----------------------------
Masayoshi Son Chairman and Director President and Chief Executive
Officer of SOFTBANK Corp.
Yoshitaka Kitao Director Executive Vice President and
Chief Financial Officer of
SOFTBANK Corp.
Ronald Fisher Vice Chairman and Vice Chairman of SOFTBANK
Director Holdings Inc.
Steven Murray Treasurer Controller of SOFTBANK
Holdings Inc.
Hitoshi Hasegawa Secretary General Counsel of
SOFTBANK Corp.
<PAGE>
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CUSIP NO. 269 246 104 PAGE 11 OF 13 PAGES
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SCHEDULE 2
DIRECTORS AND EXECUTIVE OFFICERS OF SOFTBANK HOLDINGS INC.
----------------------------------------------------------
The name, position and present principal occupation of each director and
executive officer of SOFTBANK Holdings Inc. are set forth below.
The business address for SOFTBANK Holdings Inc. and each of the executive
officers and directors listed below, except Masayoshi Son, Yoshitaka Kitao, Gary
Rieschal, Stephen A. Grant, and Thomas Wright, is 10 Langley Road, Suite 403,
Newton Center, Massachusetts 02159. The business address for Masayoshi Son and
Yoshitaka Kitao is 24-1, Nihonbashi-Hakozaki-cho, Chuo-ku, Tokyo 103 Japan. The
business address for Gary Rieschal is 333 W. San Carlos St., Suite 1225, San
Jose, CA 95110. The business address for Stephen A. Grant is 125 Broad Street,
New York, New York 10004. The business address for Thomas Wright is One Park
Avenue, New York, NY 10016.
All executive officers and directors listed below is an American citizen, except
for Masayoshi Son and Yoshitaka Kitao, each a citizen of Japan.
Name Position Present Principal Occupation
- ---------------- --------------------- -----------------------------
Masayoshi Son Chairman, President and President and Chief Executive
Director Officer of SOFTBANK Corp.
Yoshitaka Kitao Director Executive Vice President and
Chief Financial Officer of
SOFTBANK Corp.
Ronald D. Fisher Vice Chairman Vice Chairman of SOFTBANK
Holdings Inc.
Gary Rieschal Senior Vice President Executive Managing Member,
SOFTBANK Technology
Ventures LLC
Stephen A. Grant Secretary Partner, Sullivan & Cromwell
Thomas L. Wright Vice President and Treasurer of Ziff-Davis Inc.
Treasurer
Louis DeMarco Vice President - Tax Vice President-Tax
Charles R. Lax Vice President Partner, SOFTBANK Technology
Ventures Inc.
<PAGE>
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CUSIP NO. 269 246 104 PAGE 12 OF 13 PAGES
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SCHEDULE 3
DIRECTORS AND EXECUTIVE OFFICERS OF SOFTBANK CORP.
--------------------------------------------------
The name, position and present principal occupation of each director and
executive officer of SOFTBANK Corp. are set forth below.
The business address for each of the executive officers and directors listed
below, except Ronald D. Fisher and Eric Hippeau, is 24-1,
Nihonbashi-Hakozaki-cho, Chuo-ku, Tokyo 103 Japan. The business address for
Ronald D. Fisher is 10 Langley Road, Suite 403, Newton Center, Massachusetts
02159. The business address for Eric Hippeau is One Park Avenue, New York, NY
10016.
All executive officers and directors listed below is a Japanese citizen, except
for Ronald D. Fisher and Eric Hippeau, who are citizens of the United States.
<TABLE>
<CAPTION>
Name Position Present Principal Occupation
- ---------------- --------------------- -----------------------------
<S> <C> <C>
Masayoshi Son President, President and Chief Executive
Chief Executive Officer Officer of SOFTBANK Corp.
and Director
Yoshitaka Kitao Executive Vice President, Executive Vice President and
Chief Financial Officer and Chief Financial Officer of
Director SOFTBANK Corp.
Ken Miyauchi Executive Vice President, Executive Vice President,
Software & Network Software & Network Products
Products Division and Division of SOFTBANK Corp.
Director
Makoto Okazaki Executive Vice President, Executive Vice President,
Publishing Division and Publishing Division of
Director SOFTBANK Corp.
Norikazu Ishikawa Executive Vice President, Executive Vice President,
Human Resources & Human Resources & General
General Affairs Division Affairs Division of SOFTBANK
and Director Corp.
Takashi Eguchi Director President, Chief Executive Officer
of PASONA SOFTBANK Inc.
Masahiro Inoue Director President, Chief Executive Officer
of Yahoo Japan Corporation
Ronald D. Fisher Director Vice Chairman of SOFTBANK
Holdings Inc.
Eric Hippeau Director Chairman and Chief Executive
Officer, Ziff-Davis Inc.
</TABLE>
<PAGE>
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CUSIP NO. 269 246 104 PAGE 13 OF 13 PAGES
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<TABLE>
<S> <C> <C>
Mitsuo Sano Full-Time Corporate Full-Time Corporate Auditor of
Auditor SOFTBANK Corp.
Katsura Sato Corporate Auditor Corporate Auditor of SOFTBANK
Corp.
</TABLE>
<PAGE>
EXHIBIT INDEX
Exhibit Description
- ------- ------------
Exhibit A Subscription Agreement by SOFTBANK Holdings Inc. to SOFTBANK
America Inc. dated December 31, 1998.
Exhibit B Stock Purchase Agreement, dated as of July 9, 1998, by and
between E*Trade Group, Inc. and SOFTBANK Holdings Inc.
(incorporated by reference to Exhibit C to the Statement on
Schedule 13D filed by SOFTBANK Holdings Inc., SOFTBANK Corp. and
Mr. Masayoshi Son, dated August 20, 1998).
Exhibit C Agreement of Joint Filing, dated as of January 11, 1999, by and
among SOFTBANK America Inc., SOFTBANK Holdings Inc., SOFTBANK
Corp. and Mr. Masayoshi Son.
Exhibit D Power of Attorney (incorporated by reference to Exhibit 24 to the
Statement on Schedule 13G filed by SOFTBANK, Mr. Son and SOFTBANK
Ventures, Inc. on February 18, 1998 with respect to Concentric
Network Corporation).
Exhibit A
----------
This exhibit contains excerpts from the Subscription Agreement,
pursuant to which SOFTBANK Holdings Inc. transferred the securities of E*Trade
Group, Inc., as described in Item 5(b) of Schedule 13D.
<PAGE>
10 Langley Road, Suite 403
[SOFTBANK LOGO] SOFTBANK HOLDINGS INC. Newton Center, MA 02169-1971
Tel (617) 928-9300
Fax (617) 928-3301
December 31, 1998
SOFTBANK American Inc.
300 Delaware Avenue, Suite 900
Wilmington, DE 19801
Dear Sirs:
We hereby subscribe to 100 shares of Common Stock, par value $1.00 per
share, of SOFTBANK America Inc. for a purchase price of $10 per share.
As an additional contribution to capital, we hereby assign and transfer
to SOFTBANK America Inc. all our right, title and interest in the securities
listed in Annex A hereto, free and clear of all liens, encumbrances, equities or
claims.
Please confirm your acceptance of the foregoing subscription and
capital contribution by signing and returning the enclosed copy of this letter.
SOFTBANK HOLDINGS INC.
By: /s/ Thomas Wright
------------------------
Thomas Wright, Treasurer
SOFTBANK AMERICA INC.
By: /s/ Ronald D. Fisher
-------------------------------
Ronald D. Fisher, Vice Chairman
<PAGE>
<TABLE>
<CAPTION>
ASSETS TRANSFERRED TO SB AMERICA
Company Amount Securities Cost (per S&C) NBV @ 11/98
------- ------ ---------- -------------- -----------
<S> <C> <C> <C>
Ziff-Davis 71,619,355 Common
[Information deleted]
E*Trade Group, Inc 15,647,922 Common
GeoCities, Inc. 7,056,086 Common
[Information deleted] [Information deleted]
MessageMedia Inc. 10,575,775 Common
[Information deleted]
Yahoo! Inc. 29,632,564 Common
[Information deleted]
Cybercash, Inc. 976,540 Common
[Information deleted]
[Information deleted]
</TABLE>
EXHIBIT C
AGREEMENT OF JOINT FILING
In accordance with Rule 13d-1(k) under the Securities and Exchange Act of
1934, as amended, the undersigned hereby agree to the joint filing on behalf of
each of them of a Statement on Schedule 13D, and any amendments thereto, with
respect to the Common Stock, par value $0.01 per share, of E*Trade Group, Inc.
and that this agreement be included as an Exhibit to such filing.
This Agreement may be executed in any number of counterparts, each of which
shall be deemed to be an original and all of which together shall be deemed to
constitute one and the same agreement.
IN WITNESS WHEREOF, each of the undersigned hereby executes this Agreement
as of January 11, 1999.
SOFTBANK AMERICA INC.
By: /s/ Stephen A. Grant
---------------------------------
Name: Stephen A. Grant
Title: Attorney-in-fact
SOFTBANK HOLDINGS INC.
By: /s/ Stephen A. Grant
---------------------------------
Name: Stephen A. Grant
Title: Secretary
SOFTBANK CORPORATION
By: /s/ Stephen A. Grant
---------------------------------
Name: Stephen A. Grant
Title: Attorney-in-fact
MASAYOSHI SON
By: /s/ Stephen A. Grant
---------------------------------
Name: Stephen A. Grant
Title: Attorney-in-fact
