Softbank Group Corp. · TSE:9984
Softbank — Q1 FY2026 Earnings Presentation
24 slides from Softbank's earnings presentation, Aug 6, 2026
Slide 1: Q1 FY2026 Earnings Results Investor Briefing
Q1 FY2026 Earnings Results Investor Briefing August 6, 2026 SoftBank Group Corp. Three-month period ended June 30, 2026
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 FY2025 FY2026 Average during quarter Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1 USD 145.19 147.50 154.04 156.48 160.51 EOQ Jun 30 Sep 30 Dec 31 Mar 31 Jun 30 Sep 30 Dec 31 Mar 31 1 USD 159.88 162.39 Abbreviations Abbreviations utilized within this presentation are outlined
Slide 4: Accounting
Accounting
Slide 5: Consolidated Results
Consolidated Results FY2025 FY2026 Change Change % (¥ B) Q1 Q1 Net Sales 1,820.3 2,019.6 199.3 10.9% Income before income tax 689.9 589.2 (100.8) (14.6%) Net income 421.8 347.3 (74.5) (17.7%) (attributable to owners of the parent) (Reference) Total gain on investments 486.9 1,859.4 1,372.4 281.8% In
Slide 6: Net Income and Investment Gain (Loss) by Segment
Net Income and Investment Gain (Loss) by Segment Investment gain/loss at Investment Investment Business of OpenAI Business of Holding Companies (Valuation gain) Holding Companies SVF Investment gain at SVF ¥2,156.3B*1 OpenAI (Valuation gain) Other Gain on other investments 3,439.7 ¥3,934.0B Net inco
Slide 7: FY2026 Q1-end Investments in OpenAI
FY2026 Q1-end Investments in OpenAI ($ B) 89.6 Cumulative Investment Gains: 43.9 $45.0B Recorded in FY2025 (No gain/loss recorded 44.6 in FY2026 Q1) 1.1 Recorded in FY2024 10.0 Investment in FY2026 Q1 32.4 Investment in FY2025 44.6 2.2 Investment in FY2024 Cumulative investment cost Fair value as of
Slide 8: Future Investment Plans for OpenAI
Future Investment Plans for OpenAI Committed to follow-on investments totaling $30B in February 2026 ($ B) 64.6 Third Tranche 10.0 Investment planned for Upon the completion of the third tranche, October 2026 scheduled for October, Second Tranche 10.0 Investment in July 2026 cumulative investment is
Slide 9: Investment Business of Holding Companies Segment
Investment Business of Holding Companies Segment FY2025 FY2026 Change (¥ B) Q1 Q1 Gain on investments (256.5) 1 1,382.2 1,638.8 1 Gain on investments*1 • Intel: ¥1,332.9B (for details, see p7) SG&A (19.1) (27.1) (7.9) Finance cost (146.6) (281.9) 2 (135.3) 2 Finance cost • Interest expenses of SBG*2
Slide 10: Intel: Shareholding & Fair Value
Intel： Shareholding & Fair Value $139.63 Share price $36.90 $44.13 $23.00 $33.55 Purchase price (Agreement signed in Aug 2025) Fair value 12,142 (=¥1,971.7B) ($ M) 2,917 3,209 3,837 2,000 Investment Sep 30 Dec 31 Mar 31 Jun 30 Number of amount 2025 2026 shares held (M) 87.0 87.0 87.0 87.0 87.0 Accou
Slide 11: SoftBank Vision Funds Segment
SoftBank Vision Funds Segment FY2025 FY2026 Change (¥ B) Q1 Q1 1 Gain on investments at SVF1 Gain on investments 726.8 255.8 (471.1) • Private: SVF1 517.4 1 384.3 (133.1) Strong business performance of ByteDance SVF2 114.5 2 (80.1) (194.6) 2 Gain on investments at SVF2 LatAm 70.4 (45.9) (116.3) • Pu
Slide 12: Investment Performance of SVF1 and SVF2
Investment Performance of SVF1 and SVF2 Since Inception FY2026*1 Gain/loss ($ B) Investment cost Returns Gain/loss Apr - Jun SVF1 87.2 113.8 26.6 Exited investments 48.8 73.0 24.2 0.9 Investments before exit 38.4 40.2 1.8 2.3 Interest/Dividends － 0.6 0.6 0.0 SVF2 109.8 131.1 21.3 Exited investments
Slide 13: Consolidated P/L
Consolidated P/L FY2025 FY2026 (¥ B) (¥ B) Change Q1 Q1 1 Investment Business of Holding Companies Net sales 1,820.3 2,019.6 199.3 • Intel: ¥1,332.9B Gross profit 954.7 1,053.6 99.0 2 SoftBank Vision Funds Total gain on investments 486.9 1,859.4 1,372.4 • SVF1: ¥385.0B (incl. ByteDance ¥358.4B) Inve
Slide 14: Consolidated B/S – Assets
Consolidated B/S – Assets Mar Jun (¥ B) Change 2026 2026 Current assets (1,123.4) 1 PP&E 11,815.6 10,692.2 • Acquisition of assets related to power generation and Cash and cash equivalents 5,362.2 3,927.1 (1,435.1) data centers in the U.S.: +¥725.9B Derivative financial assets 44.2 81.2 37.0 2 Goodw
Slide 15: Investment Securities in Consolidated B/S (Main Investments)
Investment Securities in Consolidated B/S (Main Investments) Mar Jun (¥ B) Change 2026 2026 Investment securities 4,264.6 5,644.6 1,380.0 FVTPL 2,815.7 4,162.8 1,347.1 613.5 1,971.7 1,358.2 1 Intel Intel １ $3,837M $12,142M $8,304M • Higher share price 335.8 272.4 (63.4) T-Mobile $2,100M $1,677M $(42
Slide 16: Consolidated B/S – Goodwill / Intangible assets
Consolidated B/S – Goodwill / Intangible assets Major change Mar Jun Main items Amorti- Changes Outline 2026 2026 (¥ B) zation In FX rate Goodwill *1 7,314.5 7,384.7 Arm 3,785.8 3,845.2 ― 59.4 Provisionally recorded since purchase price allocation (PPA) has not yet been completed. Ampere 1,099.3 1,0
Slide 17: Consolidated B/S – Liabilities
Consolidated B/S – Liabilities Mar Jun 1 Interest-bearing debt (¥ B) Change 2026 2026 (total of current and non-current) Current liabilities 14,833.5 15,670.1 836.6 • SBG Interest-bearing debt 7,251.6 1 7,559.2 1 307.5 Borrowings: ¥3,100.9B / ¥(859.8)B 212.5 27.8 Corporate bonds: ¥8,897.3B / +¥726.9
Slide 18: Consolidated B/S – Equity
Consolidated B/S – Equity Mar Jun Change (¥ B) 2026 2026 1 Retained earnings Equity 20,468.4 21,352.9 884.4 Net income attributable to owners of the parent: +¥347.3B Common stock 238.8 238.8 ― Capital surplus 3,510.7 3,545.6 34.9 2 Accumulated other comprehensive income ¥421.3B increase in exchange
Slide 19: Impact of the Weaker Yen on P/L & B/S (Illustration)
Impact of the Weaker Yen on P/L & B/S (Illustration) P/L B/S Entities Components Exchange differences from Foreign exchange gain (loss) translation Foreign currency- denominated cash and cash equivalents/ Loans receivable Foreign exchange gain SBG stand-alone + (excl. investments) (See p17) Domestic
Slide 20: Impact of the Weaker Yen in FY2026 Q1
Impact of the Weaker Yen in FY2026 Q1 (from ¥159.88/$ to ¥162.39/$) Foreign exchange loss in consolidated P/L for FY2026 Q1: ¥(146.1)B At SBG stand-alone: Foreign exchange loss of ¥(150.5)B related to foreign currency borrowings from Group companies and loss of ¥(54.0)B related to foreign currency b
Slide 21: Consolidated C/F
Consolidated C/F FY2025 FY2026 1 Acquisition of Investments by SVF (¥ B) Q1 Q1 Primary details for FY2025 • A follow-on investment in OpenAI: $(10)B / ¥(1.6)T 52.3 Subtotal of C/F from operating activities C/F from 2 Purchase of PP&E (270.6) (439.9) (339.0) Interest paid operating activities • Acqui
Slide 22: Income Taxes Paid on a Consolidated Basis (Net)
Income Taxes Paid on a Consolidated Basis (Net) 5-year FY2026 FY2021 FY2022 FY2023 FY2024 FY2025 (¥ B) Total Q1 Consolidated 589.3 525.9 816.8 215.2 784.3 2,931.5 189.8 Japan 551.2 469.7 717.0 131.6 699.5 2,569.0 158.0 SBG and intermediate holding companies 200.0 214.2 443.3 (46.1) 463.4 1,274.8 8.3
Slide 23: Co-investment Program to SVF2: Related Party Transactions
Co-investment Program to SVF2: Related Party Transactions Equity interests of third-party interests MgmtCo *1 SBG FY2026 Q1: $3,150M (¥511.6B) (Masayoshi Son) FY2025: $3,130M (¥500.4B) Equity interests: 17.25% (A) Equity acquisition amount: $2,750M (i) Acquisition costs: $2,594M (committed capital:
Slide 24: Co-investment Program to LatAm & Management's Investment
Co-investment Program to LatAm & Management’s Investment in Asset Management Subsidiary Management’s investment in Co-investment program to LatAm asset management subsidiary MgmtCo Masayoshi SBG SBG (Masayoshi Son) Son Loans entrusted Equity interests: 17.25% 66.7% 33.3% Equity interests of third-pa