SoftBank (9434) Q2 2026 Investor Call earnings summary

Executive summary

• Achieved record-high revenue, operating income, and net income for the first half of FY2025, with all segments contributing to growth and strong progress toward full-year targets.

• Significant growth in the Financial segment, with operating income more than doubling year-over-year, and major acquisitions expanding e-commerce and financial services.

• Advancing strategic initiatives in cloud, AI, and next-generation infrastructure, including new joint ventures and technology partnerships.

Financial highlights

• Revenue increased by 7.9% year-on-year to JPY 3,400.8 billion for the first half; operating income up 7.3% to JPY 628.9 billion.

• Net income attributable to owners rose 7.7% year-on-year to JPY 348.8 billion, with one-time gains from step acquisitions and tax effects.

• Adjusted EBITDA increased 3.1% year-on-year to JPY 965.9 billion.

• Non-telecom revenue share increased to 63% of total revenue, up from 47% in FY2020.

• Total assets rose 9.2% to JPY 17,579.2 billion; equity attributable to owners increased to JPY 2,909.1 billion.

Outlook and guidance

• On track to achieve record highs for the full year, with all segments expected to maintain positive momentum and no changes to previously announced forecasts.

• Full-year forecasts: revenue JPY 6,700 billion, operating income JPY 1,000 billion, net income JPY 540 billion, and basic EPS JPY 11.22.

• H1 progress toward full-year targets: revenue 51%, operating income 63%, net income 65%.

• No change in the full-year CapEx forecast, with continued investment in AI computing infrastructure and data centers.

• Management aims to exceed initial plans and sees more options for the second half.