Softbank Group Corp. · TSE:9984
Softbank — Q4 FY2022 Earnings Presentation
31 slides from Softbank's earnings presentation, May 2023
Slide 1: Investor Briefing: SoftBank Vision & LatAm Funds
QUARTER ENDED MARCH 31, 2023 Investor Briefing SoftBank Vision & LatAm Funds NAVNEET GOVIL CFO, Member of the Executive Committee, SB Global Advisers Deputy CEO, SB Investment Advisers
Slide 2: Important Information (1 of 2)
2 Important Information (1 of 2) This presentation (this “Presentation”) is furnished to you for informational purposes in connection with the interests of SoftBank Group Corp. (together with its affiliates, “SoftBank”) in SoftBank Vision Fund L.P. (together with, as the context may require, any par
Slide 3: Important Information (2 of 2)
3 Important Information (2 of 2) Vision Fund I performance herein is based on unrealized valuations of portfolio investments. Valuations of unrealized investments are based on assumptions and factors (including, for example, as of the date of the valuation, average multiples of comparable companies,
Slide 4: Topics
4 Topics 01- Progress & Highlights 02- Performance & Impact on SoftBank Group (SBG) 03- In Focus: A Diversified Global Portfolio
Slide 5: Progress & Highlights
5 Progress & Highlights
Slide 6: Challenging Market Backdrop
SVF1 SVF2 LATAM PROGRESS & HIGHLIGHTS 6 Challenging Market Backdrop As of March 31, 2023 Tightening Sustained Financial Sector Monetary Policy Market Volatility Instability Federal Funds Target Rate1 Chicago Board Options Exchange's Volatility Index2 January 2022 – March 2023 January 2022 – March 20
Slide 7: Impact of SVB Insolvency Mitigated by Regulatory Action
SVF1 SVF2 LATAM PROGRESS & HIGHLIGHTS 7 Impact of SVB Insolvency Mitigated by Regulatory Action As of March 31, 2023 OUR RESPONSE Immediate portfolio company engagement to MARCH 12, 20231 support risk assessments and contingency planning The Treasury, Federal Reserve, Evaluation of bridge financing
Slide 8: Portfolio Companies Continue to Be Well-Capitalized
SVF1 SVF2 LATAM PROGRESS & HIGHLIGHTS 8 Portfolio Companies Continue to Be Well-Capitalized As of March 31, 2023 PORTFOLIO COMPANIES WITH 12+ MONTHS CASH RUNWAY By Fair Value1 98% SVF1 90% SVF2 84% LATAM Footnotes: 1. Source: SBIA Analysis. Based on the fair value of private portfolio companies with
Slide 9: A Deliberate & Selective Approach to Investing…
SVF2 9 SELECT NEW INVESTMENTS – LAST TWELVE MONTHS1 Healthcare analytics software The world’s first SaaS buying platform2 Provides shoppable video and livestreaming commerce capabilities PROGRESS & HIGHLIGHTS AI-enabled and autonomous robotics-powered movement technology platform A Deliberate & Sele
Slide 10: …While Remaining Steadfast Investors in the AI Revolution
SVF1 SVF2 LATAM PROGRESS & HIGHLIGHTS 10 …While Remaining Steadfast Investors in the AI Revolution AI REACHES THE MAINSTREAM1 SELECT INVESTMENTS BY AI LAYER 2 ChatGPT is estimated to have hit 100mm users in January 2023, two months after launch. 70 61 55 41 30 9 2 Months Taken to Reach 100mm MAUs Fo
Slide 11: Performance Snapshot
SVF1 SVF2 LATAM 11 SoftBank SoftBank SoftBank Vision Fund 1 Vision Fund 2 LatAm Funds Combined Total Commitment $98.6B $60.0B $7.6B $166.2B Effective May 10, 2023 PROGRESS & HIGHLIGHTS Performance Acquisition Cost1 $87.9B $49.9B $7.3B $145.1B Snapshot Cumulative Gross $13.5B $(18.9B) $(1.7B) $(7.1B)
Slide 12: SoftBank-Sponsored SPACs Update
SVF2 LATAM PROGRESS & HIGHLIGHTS 12 SoftBank-Sponsored SPACs Update Three SoftBank-sponsored SPACs redeemed during the quarter. Our fourth SPAC, SVFC, closed its business combination with Symbotic in June 2022. 1 2 An AI-enabled and autonomous Gross MOIC Market Cap robotics-powered product SOFTBANK-
Slide 13: Performance & Impact on SoftBank Group (SBG)
13 Performance & Impact on SoftBank Group (SBG)
Slide 14: SVF1 Contribution to SBG, Net of 3rd Party Interests
14 SVF1 2023 Inception to Mar 31 SVF1 Fund Net Profit2 $2.7 PERFORMANCE & IMPACT ON SBG Less: Change in 3rd Party Contribution to Interests in Fund (1.5) SBG, Net of 3rd SBG LP Income: 1.2 Share of Fund Net Profit Party Interests1,3 SBG GP Income: Amounts in USD Billions 1.0 Management & Performance
Slide 15: Contribution to SBG: SVF1
15 SBG Paid-In Capital1 SVF1 PERFORMANCE & IMPACT ON SBG Contribution to SBG SBG Total Value2 As of March 31, 2023 Net Asset Value3 Distributions4 Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable unutilized Contributions. 2. SBG T
Slide 16: Contribution to SBG: SVF2
16 SBG Paid-In Capital1 SVF2 PERFORMANCE & IMPACT ON SBG Contribution to SBG SBG Total Value2 As of March 31, 2023 Net Asset Value3 Distributions4 Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable unutilized Contributions. SBG Paid
Slide 17: Contribution to SBG: LatAm
17 SBG Paid-In Capital1 LATAM PERFORMANCE & IMPACT ON SBG Contribution to SBG SBG Total Value2 As of March 31, 2023 Net Asset Value3 Distributions4 Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable unutilized Contributions. SBG Pai
Slide 18: In Focus: A Diversified Global Portfolio
18 In Focus: A Diversified Global Portfolio
Slide 19: Our Platform
SVF1 SVF2 LATAM A DIVERSIFIED GLOBAL PORTFOLIO 19 Our Platform As of March 31, 2023 SVF1 SVF2 LATAM Total Fair Value1 Total Fair Value1 $101.3B Total Fair Value1 $31.0B Total Fair Value1 $5.7B $138.0B Total # of Total # of Total # of 94 274 105 473 Total Number Investments2 Investments2 Investments2
Slide 20: Quarterly Performance
SVF1 SVF2 LATAM 20 -$2.3B +$0.3B -$1.9B -$0.7B COMBINED SVF1 SVF2 LATAM A DIVERSIFIED GLOBAL PORTFOLIO Quarterly Performance Public investments demonstrating resilience and benefiting from modest recovery in global markets As of March 31, 2023 Majority of private investment losses experienced in Con
Slide 21: Public Markets Show Modest Gains
SVF1 SVF2 LATAM 21 Public Investments By Fair Value1 $25.3B CURRENT FAIR VALUE2 +$2.1B QUARTERLY GAIN3 FAIR VALUE QUARTERLY GAIN FAIR VALUE QUARTERLY GAIN INVESTMENT4 INVESTMENT4 ($MM) ($MM) ($MM) ($MM) $6,819 +$550 $460 +$43 A DIVERSIFIED GLOBAL PORTFOLIO $3,680 +$600 $457 +$218 Public Markets $2,8
Slide 22: Asian Markets Continue to Demonstrate Resilience & Growth Prospects
SVF1 SVF2 LATAM A DIVERSIFIED GLOBAL PORTFOLIO 22 Asian Markets Continue to Demonstrate Resilience & Growth Prospects Public Investments by Region | As of March 31, 2023 CHINA INDIA REST OF ASIA 9 Investments 4 Investments 3 Investments CURRENT FAIR VALUE1 QUARTERLY GAIN2 CURRENT FAIR VALUE1 QUARTER
Slide 23: Mixed Performance Across Markets in the Americas & Europe
SVF1 SVF2 LATAM A DIVERSIFIED GLOBAL PORTFOLIO 23 Mixed Performance Across Markets in the Americas & Europe Public Investments by Region | As of March 31, 2023 AMERICAS EMEA 27 Investments 4 Investments CURRENT FAIR VALUE1 QUARTERLY GAIN2 CURRENT FAIR VALUE1 QUARTERLY GAIN2 DoorDash reported an 11th
Slide 24: A Strong Pipeline for Future Listings
SVF1 SVF2 LATAM A DIVERSIFIED GLOBAL PORTFOLIO 24 A Strong Pipeline for Future Listings As of March 31, 2023 LISTINGS $37B+ Late-Stage Portfolio LISTINGS SINCE INCEPTION 1 Total FV, Series E or Later2 LATAM SVF2 SVF1 LISTINGS LISTINGS 2017 & 2018 2019 & 2020 2021 & 2022 Footnotes: 1. Listings since
Slide 25: A Diverse Portfolio of Private Investments
SVF1 SVF2 LATAM A DIVERSIFIED GLOBAL PORTFOLIO 25 A Diverse Portfolio of Private Investments Private Investments | As of March 31, 2023 F A I R V A L U E B Y RE G I O N ( $ B ) I NV E S T M E NT S B Y RE V E NU E S T A G E 391 BY FAIR VALUE (%)3 Current Private Investments1 $15.8 56% $14.8 $24.8 $5.
Slide 26: Performance by Sector (1/3)
SVF1 SVF2 LATAM A DIVERSIFIED GLOBAL PORTFOLIO 26 Performance by Sector (1/3) Private Investments by Sector | As of March 31, 2023 SECTOR LARGEST INVESTMENTS BY TEQV1 SECTOR HIGHLIGHTS KEY METRICS QUARTERLY # INVESTMENTS FAIR VALUE FV GAIN Bytedance 2022 profits reach $25B, outpacing Tencent, Kuaish
Slide 27: Performance by Sector (2/3)
SVF1 SVF2 LATAM A DIVERSIFIED GLOBAL PORTFOLIO 27 Performance by Sector (2/3) Private Investments by Sector | As of March 31, 2023 SECTOR LARGEST INVESTMENTS BY TEQV1 SECTOR HIGHLIGHTS KEY METRICS QUARTERLY # INVESTMENTS FAIR VALUE FV GAIN Arm Announced confidential submission of draft registration
Slide 28: Performance by Sector (3/3)
SVF1 SVF2 LATAM A DIVERSIFIED GLOBAL PORTFOLIO 28 Performance by Sector (3/3) Private Investments by Sector | As of March 31, 2023 SECTOR LARGEST INVESTMENTS BY TEQV1 SECTOR HIGHLIGHTS KEY METRICS QUARTERLY # INVESTMENTS FAIR VALUE FV GAIN PayPay 45% of the QR code payments market in Japan2 Klarna 6
Slide 29: Our Disciplined Approach to Monetization
SVF1 SVF2 LATAM A DIVERSIFIED GLOBAL PORTFOLIO 29 Our Disciplined Approach to Monetization Inception to March 31, 2023 15940 CUMULATIVE PROCEEDS SINCE INCEPTION Monetized Public & Private Investments1 13940 16,057 Cumulative Proceeds2 ($B) 11940 SVF1 NASDAQ Performance5 9940 56.5 55.3 7940 46.0 5940
Slide 30: An Enduring Portfolio Positioned for the Future
SVF1 SVF2 LATAM A DIVERSIFIED GLOBAL PORTFOLIO 30 An Enduring Portfolio Positioned for the Future As of March 31, 2023 1 2 3 4 Invested in Prudent Valuations Portfolio Companies Disciplined Well-Capitalized in-line with Poised to and Consistent Companies IFRS 13 List Publicly Monetization Strategy T
Slide 31: Thank You
31 Thank You SoftBank Vision & LatAm Funds Investor Briefing Presentations Available at visionfund.com/presentations