Softbank Group Corp. · TSE:9984
Softbank — Q1 FY2025 Earnings Presentation
25 slides from Softbank's earnings presentation, Aug 7, 2025
Slide 1: Q1 FY2025 Earnings Results Investor Briefing
Q1 FY2025 Earnings Results Investor Briefing August 7, 2025 SoftBank Group Corp. Three-month period ended June 30, 2025
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 FY2024 FY2025 Average during quarter Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1 USD 156.53 150.26 151.32 152.95 145.19 EOQ Jun 30 Sep 30 Dec 31 Mar 31 Jun 30 Sep 30 Dec 31 Mar 31 1 USD 149.52 144.81 Abbreviations Abbreviations used in Accounting section of this presentatio
Slide 4: Accounting
Accounting
Slide 5: Consolidated Results
Consolidated Results (¥ B) FY24Q1 FY25Q1 Change Change % Net sales 1,701.7 1,820.3 +118.6 +7.0% Income before 225.7 689.9 +464.2 +205.7% income tax Net income (attributable to owners of the -174.3 421.8 +596.1 ー parent) (Reference) Gain/loss on investments 559.7 486.9 -72.8 -13.0% Investment Busines
Slide 6: Segment Income
Net Income & SVF + Investment Business of Holding Companies Segment Income Net income (attributable to 960.1 950.0 1,179.6 (¥ B) owners of the parent) 999.5 517.2 421.8 SVF segment income + 231.1 Investment Business of Holding 430.5 Companies segment income 288.3 (income before income tax) -188.4 -1
Slide 7: Investment Business of Holding Companies Segment
Investment Business of Holding Companies Segment (¥ B) P/L item FY24Q1 FY25Q1 FY25Q1 main items Gain/loss on investments at Investment 567.9 -256.5 Business of Holding Companies Realized gain/loss at asset management subsidiaries 0.2 -48.7 Unrealized gain/loss on valuation at asset -1.0 174.9 manage
Slide 8: T-Mobile: Shareholding & Fair Values
T-Mobile: Shareholding & Fair Values $266.71 $238.26 $220.73 $206.36 Share price $176.18 Number of 85.4 85.4 85.4 85.4 63.9 shares held (M) -21.5 5,734 Sold 21.5M shares for (Equiv. to Fair value 21.5M shares) ($ M) $4.8B in FY25Q1 Recorded ¥198.6 realized gain 18,842 17,032 15,216 17,615 (Equiv. to
Slide 9: Deutsche Telekom: Shareholding & Fair Values
Deutsche Telekom: Shareholding & Fair Values €34.22 €30.97 €28.99 €26.39 €23.48 Share price Number of 225.0 225.0 225.0 205.5 166.5 shares held (M) -19.5 -39.0 Physically settled a (Equiv. to 18.0M shares) portion of collar 667 1,445 (Equiv. to transactions using DT Fair value (Equiv. to 39.0M share
Slide 10: Alibaba Shares & Derivative Financial Assets/Liabilities
Alibaba Shares & Derivative Financial Assets/Liabilities (Amount Recorded in B/S) Derivative financial Fully completed Investment securities (FVTPL)*1 assets/liabilities (net) physical settlements of prepaid forward contracts $132.23 $132.23 using Alibaba shares. Share price $113.41 $113.41 Of the v
Slide 11: SoftBank Vision Funds Segment
SoftBank Vision Funds Segment (¥ B) P/L FY24Q1 FY25Q1 FY25Q1 ｍain items Includes gains and losses associated with investments in the Gain/loss on investments at SoftBank Vision Funds 1.9 726.8 Company’s subsidiaries Gain/loss on investments at SVF1, SVF2, and LatAm 15.9 702.2 ¥517.4B gain at SVF1, ¥
Slide 12: (Reference) Investment Performance of SVF1 and SVF2
(Reference) Investment Performance of SVF1 and SVF2 ($ B) Since Inception FY25*1 Gain/loss Cost*2 Returns*2 Gain/loss Q1 SVF1 89.6 116.6 27.0 3.6 Exited investments 48.3 68.5 20.2 0.5 Investments before exit 41.3 45.6 4.3 3.3 Reversal of previously-recorded valuation gain/loss for exited investments
Slide 13: Centralization of Robotics-related Investments
Centralization of Robotics-related Investments • Established intermediate holding company (“Robo HD”) to centralize robotics-related investments and enhance value creation through synergy.*1 • Centralization completed with the transfer of 13 investments from the Company and 7 from SVF2 to Robo HD du
Slide 14: Consolidated P/L Summary
Consolidated P/L Summary (¥ B) P/L item FY24Q1 FY25Q1 Change Net sales 1,701.7 1,820.3 +118.6 1 ・¥209.7B investment gain on NVIDIA shares Gross profit 920.6 954.7 +34.0 ・¥401.9B investment loss on TMo shares Gain/loss on investments ・¥171.5B investment loss on Alibaba shares Investment Business of H
Slide 15: Consolidated B/S Summary – Non-current assets
Consolidated B/S Summary – 1 (¥ B) B/S Main items Mar 2025 Jun 2025 Change item 9,432.9 9,729.7 +296.8 Current assets Cash and cash equivalents 3,713.0 1 4,186.0 +473.0 Derivative financial assets 111.3 132.3 +21.0 1 Investment Business of Holding Companies segment (including SBG and its Other finan
Slide 16: Investment Securities in Consolidated B/S (Main Investments)
Investment Securities in Consolidated B/S (Main Investments) (¥ B) Mar 2025 Jun 2025 Change Outline Investment securities 8,040.1 5,950.9 -2,089.2 FVTPL 7,124.4 4,869.1 -2,255.3 T-Mobile 3,404.1 2,203.4 -1,200.7 Decreased due to the sale of 21.5M TMo shares and $22,767M $15,216M -$7,551M lower share
Slide 17: Breakdown of Goodwill/Intangible Assets
Breakdown of Goodwill/Intangible Assets (¥ B) Change B/S Main items Mar 2025 Jun 2025 Amorti- Changes in Outline Item Others zation FX rate 5,781.9 5,773.7 * Arm 3,540.4 3,428.9 ― -111.5 ― Goodwill SBKK 914.9 914.9 ― ― ― LY 478.3 478.3 ― ― ― ZOZO 214.0 214.0 ― ― ― Graphcore 85.1 82.4 ― -2.7 ― Became
Slide 18: Consolidated B/S Summary – Non-current liabilities
Consolidated B/S Summary – 2 (¥ B) B/S Main items Mar 2025 Jun 2025 Change item 12,601.7 11,610.0 -991.7 Interest-bearing debt 5,629.6 1 5,201.2 -428.4 1 SBG Borrowings*: ¥3,040.9B (¥1,265.5B increase) Lease liabilities 165.4 171.0 +5.7 Current liabilities Corporate bonds*: ¥6,700.9B (¥32.5B increas
Slide 19: Consolidated B/S Summary – Equity
Consolidated B/S Summary – 3 (¥ B) B/S Mar Jun Main items Change Item 2025 2025 13,953.0 13,603.8 -349.2 Common stock 238.8 238.8 ― 1 ¥421.8B net income attributable to owners of the parent Capital surplus 3,376.7 3,398.9 +22.2 2 ¥93.2B in share repurchase Other equity instruments 193.2 193.2 ― 3 ¥6
Slide 20: Impact of the Stronger Yen on P/L & B/S (Illustration)
Impact of the Stronger Yen on P/L & B/S (Illustration) P/L B/S Entities Components Foreign exchange Exchange differences gain (loss) from translation Foreign currency- denominated cash and cash equivalents/ SBG stand-alone + Loans receivable Foreign exchange loss Subsidiaries conducting (excl. inves
Slide 21: Impact of the Stronger Yen in FY25Q1
Impact of the Stronger Yen in FY25Q1 (from ¥149.52/$ to ¥144.81/$) Foreign exchange gain in consolidated P/L for FY25Q1: ¥143.3B At SBG stand-alone: Foreign exchange gains of ¥173.7B related to foreign currency-denominated borrowings from Group companies and ¥26.7B related to foreign currency-denomi
Slide 22: Consolidated C/F Summary
Consolidated C/F Summary 1 ¥270.6B net outflow, due to the payment of income tax (¥ B) ・¥445.8B income tax paid C/F FY24Q1 FY25Q1 Primary details for FY25Q1 2 ・Outlays of ¥96.3B at SBG and wholly owned subsidiaries item C/F from (Investment mainly related to the Stargate Project, which involves buil
Slide 23: Income Taxes Paid on a Consolidated Basis (Net)
Income Taxes Paid on a Consolidated Basis (Net) (¥ B) 5-year FY25 FY20 FY21 FY22 FY23 FY24 Total Q1 Consolidated 324.5 589.3 525.9 816.8 215.2 2,471.7 442.5 Japan 189.5 551.2 469.7 717.0 131.6 2,059.0 421.8 SBG and intermediate holding companies (wholly -85.3 200.0 214.2 443.3 -46.1 726.1 294.8 owne
Slide 24: Co-investment Program to SVF2: Related Party Transactions
Co-investment Program to SVF2: Related Party Transactions Equity interests of third-party interests Masayoshi SBG FY25Q1: $― (¥―) Son* 1 FY24: $― (¥―) Equity interests: 17.25% (B) (A) Distribution: $173M Equity acquisition amount: $2,923M 100% (Return of capital) (i) Acquisition costs: $2,594M (comm
Slide 25: 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 FY25Q1: $60M (¥8.7B) FY24: $34M (¥5.2B) Masayoshi SBG Masayoshi Son SBG