SoftBank (9434) investor relations material

Executive summary

• Revenue and profit reached record highs for the nine months ended December 31, 2025, with all segments contributing to growth and upwardly revised full-year forecasts.

• Operating income in the Financial segment doubled, and the company received high external ESG ratings, including top Nikkei SDGs and CDP Climate Change A List rankings.

• Major acquisitions included BEENOS Inc., LINE Bank Taiwan Limited, and LINE MAN CORPORATION PTE. LTD., expanding e-commerce and financial services.

• Leadership transition: CFO Fujihara retires, succeeded by Akiyama, with a focus on maintaining growth and shareholder returns.

• Full-year forecast for fiscal year 2025 was revised upward due to strong performance, despite ASKUL's negative impact.

Financial highlights

• Revenue increased by 8% year-over-year to JPY 5,195.4 billion for Q1–Q3 FY25, with progress toward the full-year forecast of JPY 6,950.0 billion at 77.5%.

• Adjusted EBITDA grew by 3.8% year-over-year to JPY 1,423.9 billion, surpassing 80% of the full-year forecast.

• Operating income rose by 7.6% year-over-year to JPY 884.1 billion; net income attributable to owners increased by 11.2% to JPY 485.5 billion.

• Distribution segment revenue up 25.6% and income up 29.2% year-over-year.

• PayPay revenue increased by 26.3%, with user and payment growth outpacing user base expansion.

Outlook and guidance

• Full-year FY25 forecasts were revised upward: revenue to JPY 6,950.0 billion, adjusted EBITDA to JPY 1,780.0 billion, operating income to JPY 1,020.0 billion, and net income to JPY 543.0 billion.

• Upward revision driven by strong performance in Distribution and improved R&D and other costs.

• Upfront investment and R&D expenses are expected to impact operating income in the fourth quarter.

• Dividend per share forecast for the fiscal year ending March 31, 2026, is JPY 8.60, reflecting the post-stock split basis.

• Management is preparing for mid- and long-term growth, with a focus on AI and cloud infrastructure investments.