SoftBank (9434) Q4 2025 Investor Call earnings summary

Executive summary

• Revenue reached JPY 6,544.3 billion, up 8% year-over-year, surpassing mid-term plan targets a year early, with growth across all segments.

• Operating income rose 13% to JPY 989.0 billion, also achieving mid-term plan targets ahead of schedule.

• Net income increased 8% to JPY 526.1 billion, though the full-year target was delayed due to a portfolio company valuation loss.

• Free cash flow remained high at JPY 603.3 billion, and a 10-for-1 stock split was executed to broaden the shareholder base.

• Major investments were made in AI infrastructure, including the acquisition of Sharp's Sakai Plant and launch of proprietary AI models.

Financial highlights

• Revenue: JPY 6,544.3 billion (+8% YoY); Operating income: JPY 989.0 billion (+13% YoY); Net income: JPY 526.1 billion (+8% YoY); Adjusted EBITDA: JPY 1,753.1 billion (+5.1% YoY).

• Free cash flow: JPY 603.3 billion; Cash and cash equivalents at year-end: JPY 1,435.5 billion.

• Dividend maintained at JPY 8.6 per share; basic EPS: JPY 10.99 (post-split basis).

• Total assets: JPY 16,102.2 billion (+3.7% YoY); Total equity: JPY 4,265.4 billion (+8.4% YoY).

Outlook and guidance

• FY2025 revenue target revised upward to JPY 6,700.0 billion, aiming for a 10th consecutive year of record revenue.

• Operating income target raised to JPY 1 trillion, with continued aggressive investment in AI and R&D.

• Net income target revised upward to JPY 540 billion.

• Dividend forecast remains at JPY 8.6 per share for FY2025.