Slide 1: Earnings Results for the Fiscal Year Ended March 31, 2025
Ver.1.1 Earnings Results for the Fiscal Year Ended March 31, 2025 Investor Briefing May 13, 2025 SoftBank Group Corp.
Slide 2: Disclaimers
Disclaimers This presentation provides relevant information about SoftBank Group Corp. (“SBG”) and its subsidiaries (together with SBG, the “Company”) and its affiliates (together with the Company, the “Group”) and does not constitute or form any solicitation of investment including any offer to buy
Slide 3: Exchange rates and abbreviations
Exchange rates per JPY used for translation FY2023 FY2024 Average during quarter Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1 USD 138.11 145.44 147.00 147.87 156.53 150.26 151.32 152.95 EOQ Jun 30 Sep 30 Dec 31 Mar 31 Jun 30 Sep 30 Dec 31 Mar 31 1 USD 151.41 149.52 Abbreviations Abbreviations used in Accounting sectio
Slide 4: Accounting
Accounting
Slide 5: Consolidated Results
Consolidated Results (¥ B) FY23 FY24 Change Change % Net sales 6,756.5 7,243.8 +487.3 +7.2% Income before 57.8 1,704.7 +1,646.9 ー income tax Net income (attributable to owners of the -227.6 1,153.3 +1,381.0 ー parent) (Reference) Gain/loss on investments -559.4 3,701.1 +4,260.5 ー Investment Business
Slide 6: Net Income & SVF + Investment Business of Holding Companies Segment Income
Net Income & SVF + Investment Business of Holding Companies Segment Income 3,440.4 3,033.6 1,179.6 Net income (attributable to 960.1 (¥ B) owners of the parent) 950.0 999.5 517.2 231.1 288.3 SVF segment income + Investment Business of Holding -57.6 Companies segment income (income before income tax)
Slide 7: Investment Business of Holding Companies Segment
Investment Business of Holding Companies Segment (¥ B) P/L item FY23 FY24 FY24 main items Gain/loss on investments at Investment -459.0 3,413.8 Business of Holding Companies Realized gain/loss at asset management subsidiaries -90.4 -39.3 Unrealized gain/loss on valuation at asset 12.7 -10.9 manageme
Slide 8: T-Mobile: Shareholding & Fair Values
T-Mobile: Shareholding & Fair Values $266.71 Events in FY24Q1 $220.73 $206.36 Share price ①Sold 6.7M TMo shares for $670M $176.18 $163.22 following DT’s partial exercise of call options Number of ②DT’s call option for the remaining shares held 92.1 1 85.4 85.4 85.4 85.4 (M) 28.2M TMo shares expired
Slide 9: Deutsche Telekom: Shareholding & Fair Values
Deutsche Telekom: Shareholding & Fair Values Acquired 225.0M Deutsche Telekom shares in Sep 2021 ➢ in return for the sale of TMo shares €34.22 €28.99 €26.39 €22.50 €23.48 Share price Number of Events in FY24Q4 225.0 225.0 225.0 225.0 1 205.5 shares held (M) -19.5 ①Physically settled a portion of col
Slide 10: Alibaba Shares & Derivative Financial Assets/Liabilities
Alibaba Shares & Derivative Financial Assets/Liabilities (Amount Recorded in B/S) Value of Alibaba shares Derivative financial Investment securities (FVTPL)*1 assets/liabilities (net) recorded in B/S considering prepaid $132.23 $132.23 Share price forward contracts: $6,735M ( A + B ) Of valuation ga
Slide 11: SoftBank Vision Funds Segment
SoftBank Vision Funds Segment (¥ B) P/L FY23 FY24 FY24 ｍain items Includes gains and losses associated with investments in the Gain/loss on investments at SoftBank Vision Funds 724.3 434.9 Company’s subsidiaries Gain/loss on investments at SVF1, SVF2, and LatAm 696.3 469.4 ¥1,023.0B gain at SVF1, ¥5
Slide 12: (Reference) Investment Performance of SVF1 and SVF2
(Reference) Investment Performance of SVF1 and SVF2 ($ B) Since Inception FY24*1 Gain/loss Gain/loss Cost*2 Returns*2 Gain/loss Q4 YTD SVF1 89.6 113.0 23.4 1.8 6.7 Exited investments 45.4 67.3 21.9 -0.1 -4.1 Investments before exit 44.2 43.3 -0.9 1.7 5.8 Reversal of previously-recorded valuation gai
Slide 13: Investment Transfers from SBG to SVF2
Investment Transfers from SBG to SVF2 • As part of the portfolio reorganization of SBG and its key investment subsidiaries, 6 private investments were approved for transfer to SVF2.*1 • 5 investments (FY24Q3) and 1 investment (FY24Q4) were transferred at fair value as of their respective transfer da
Slide 14: Centralization of Robotics-related Investments
Centralization of Robotics-related Investments • To enhance value creation by fostering synergies, an intermediate holding company (“Robo HD”) was established to centralize robotics-related investments.*1 • In FY24Q4, 10 investments from the Company and 6 from SVF2 were transferred to Robo HD at fai
Slide 15: Arm Segment: Bridge to Arm's disclosure (FY24 P/L)
Arm Segment in SBG’s Consolidated Financial Report Bridge to Arm’s disclosure (FY24 P/L) Adjustment (1) Adjustment (2) Amortization expenses SBG Consolidated related to intangible Difference in Arm assets recognized in Financial Report accounting Arm segment the purchase price standard disclosure al
Slide 16: Consolidated P/L Summary
Consolidated P/L Summary (¥ B) 1 ・¥1,875.9B investment gain on Alibaba shares ・¥1,352.2B investment gain on TMo shares (including derivative gains and P/L item FY23 FY24 Change losses on investments and effects of foreign exchange translation) Net sales ・¥434.2B investment gain on DT shares 6,756.5
Slide 17: Consolidated B/S Summary – Non-current assets
Consolidated B/S Summary – 1 (¥ B) B/S 1 Investment Business of Holding Companies segment (including SBG and its Main items Mar 2024 Mar 2025 Change wholly owned subsidiaries conducting fund procurement, etc.): ¥1,596.3B item (¥1,763.3B decrease) 11,441.4 9,432.9 -2,008.5 Current assets Cash and cas
Slide 18: Investment Securities in Consolidated B/S (Main Investments)
Investment Securities in Consolidated B/S (Main Investments) (¥ B) Mar 2024 Mar 2025 Change Outline Investment securities 9,062.0 8,040.1 -1,021.9 FVTPL 8,321.5 7,124.4 -1,197.1 T-Mobile 2,275.8 3,404.1 +1,128.2 Increased mainly due to higher share price, despite SBG selling 6.7M TMo shares followin
Slide 19: Breakdown of Goodwill/Intangible Assets
Breakdown of Goodwill/Intangible Assets (¥ B) Change B/S Main items Mar 2024 Mar 2025 Amorti- Changes in Outline Item Others zation FX rate 5,709.9 5,781.9 * Arm 3,585.0 3,540.4 ― -44.7 ― Goodwill SBKK 914.9 914.9 ― ― ― LY 478.3 478.3 ― ― ― ZOZO 214.0 214.0 ― ― ― Graphcore ― 85.1 ― -6.6 +91.7 Became
Slide 20: Consolidated B/S Summary – Liabilities
Consolidated B/S Summary – 2 (¥ B) B/S Main items Mar 2024 Mar 2025 Change item 14,020.3 12,601.7 -1,418.6 Interest-bearing debt 8,271.1 1 5,629.6 -2,641.5 1 SBG Borrowings*: ¥1,775.4B (¥1,312.4B increase) Lease liabilities 149.8 165.4 +15.6 Current liabilities Corporate bonds*: ¥6,668.5B (¥520.9B i
Slide 21: Consolidated B/S Summary – Equity
Consolidated B/S Summary – 3 (¥ B) B/S Mar Mar Main items Change Item 2024 2025 13,237.2 13,953.0 +715.9 Common stock 238.8 238.8 ― 1 ¥1,153.3B net income attributable to owners of the parent Capital surplus 3,326.1 3,376.7 +50.6 2 ¥237.0B in share repurchase Other equity instruments 193.2 193.2 ― 3
Slide 22: Impact of the Stronger Yen on P/L & B/S (Illustration)
Impact of the Stronger Yen on P/L & B/S (Illustration) P/L B/S Entities Components Foreign exchange Exchange differences gain (loss) from translation Foreign currency- denominated cash and cash equivalents/ SBG stand-alone + Loans receivable Foreign exchange loss Subsidiaries conducting (excl. inves
Slide 23: Impact of the Stronger Yen in FY24
Impact of the Stronger Yen in FY24 (from ¥151.41/$ to ¥149.52/$) Foreign exchange gain in consolidated P/L for FY24: ¥27.1B At SBG stand-alone: Foreign exchange gains of ¥18.3B related to foreign currency-denominated borrowings from Group companies and ¥17.4B related to foreign currency-denominated
Slide 24: Consolidated C/F Summary
Consolidated C/F Summary (¥ B) C/F FY23 FY24 Primary details for FY24 1 ¥203.6B net inflow, despite the acquisition of corporate bonds, etc. by SB Northstar item ・¥380.0B income tax paid (primarily by SBKK) +601.1 Subtotal of cash flows from operating activities ・¥164.8B income tax refunded (SBG rec
Slide 25: Difference in Tax Rate
Difference in Tax Rate (Minuses show expenses) FY24 Rate (％) Amount (¥ B) Income before income tax 1,704.7 Effective statutory tax rate 31.5％ -536.3 (Main factors of difference) (i) Difference in subsidiaries’ tax rates -19.7% 336.0 (ii) Temporary differences on investments in subsidiaries -16.5% 28
Slide 26: Loss Carryforwards (as of Mar 31, 2025)
Loss Carryforwards (as of Mar 31, 2025) (¥ B) Valuation Carrying amounts Income base Tax base allowance in B/S Total of companies 2,104.2 681.5 -612.0 69.5 based in Japan Total of companies 521.1 118.7 -72.3 46.4 based overseas Consolidated total 2,625.3 800.2 -684.3 115.9 Accounting 23
Slide 27: Income Taxes Paid on a Consolidated Basis (Net)
Income Taxes Paid on a Consolidated Basis (Net) (¥ B) FY20 FY21 FY22 FY23 FY24 Total Consolidated 324.5 589.3 525.9 816.8 215.2 2,471.7 Japan 189.5 551.2 469.7 717.0 131.6 2,059.0 SBG and intermediate holding companies (wholly owned -85.3 200.0 214.2 443.3 -46.1 726.1 subsidiaries) Operating compani
Slide 28: Co-investment Program to SVF2: Related Party Transactions
Co-investment Program to SVF2: Related Party Transactions Equity interests of third-party interests Masayoshi SBG FY24: $― (¥―) Son* 1 FY23: $― (¥―) Equity interests: 17.25% (B) (A) Distribution: $173M Equity acquisition amount: $2,923M 100% (Return of capital) (i) Acquisition costs: $2,594M (commit
Slide 29: Co-investment Program to LatAm Funds & Management's Investment
Co-investment Program to LatAm Funds & Management’s Investment in Asset Management Subsidiary Co-investment program to LatAm Funds Management’s investment in Equity interests of third-party investors asset management subsidiary FY24: $34M ( ¥5.2B) FY23: $93M (¥14.1B) Masayoshi SBG Masayoshi Son SBG
Slide 30: Sustainability
Sustainability
Slide 31: Material Issues Relating to Sustainability
10 Material Issues Relating to Sustainability In consideration of the current social and business environment, we are continuing to address the material issues identified last year Sustainability 1
Slide 32: Initiatives for Integrated Disclosure of Financial and Non-Financial Information
Initiatives for Integrated Disclosure of Financial and Non-Financial Information With the publication of the SSBJ standards, we have initiated consideration of sustainability disclosures that take into account the linkage between financial and non-financial information Information Revolution – Happi