SoftBank (9434) Q2 2026 earnings summary

Executive summary

• Revenue, operating income, and net income reached record highs for the first half of FY2025, with all segments showing year-on-year growth and steady progress toward full-year targets.

• Non-telecom revenue share expanded significantly, reflecting successful diversification into DX, fintech, and AI, now accounting for 63% of total revenue, up from 47% in FY2020.

• Strategic initiatives in cloud, AI, and fintech are advancing, including the launch of SB OpenAI Japan, new AI infrastructure offerings, and next-generation infrastructure projects.

• Significant growth in the Financial segment, with operating income more than doubling year-over-year, mainly from PayPay and PayPay Card services.

• Strategic acquisitions, including BEENOS Inc., LINE Bank Taiwan Limited, and LINE MAN CORPORATION PTE. LTD., contributed to revenue and expansion.

Financial highlights

• Revenue reached JPY 3,400.8 billion, up 8% year-on-year for the first half.

• Operating income hit JPY 628.9 billion, a 7% increase year-on-year, including one-time gains from step acquisitions.

• Net income rose to JPY 348.8 billion, up 8% year-on-year, with contributions from one-time factors.

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

• Total assets rose 9.2% to JPY 17,579.2 billion, and total equity increased 5.0% to JPY 4,477.6 billion as of September 30, 2025.

Outlook and guidance

• On track to achieve JPY 6,700–7,000 billion in full-year revenue and JPY 1,000 billion in operating income.

• No changes to previously announced forecasts; expects further growth in AI, cloud, and fintech segments, with new services and infrastructure launches planned.

• Midterm plan aims to grow enterprise segment revenue to match consumer business scale.