SoftBank Group (9984) investor relations material

Executive summary

• Achieved record net income of ¥5,002.3 billion for FY ended March 31, 2026, the highest in Japanese corporate history, with net sales up 7.7% year-over-year and significant gains from OpenAI and Arm investments.

• Net asset value reached ¥40.1 trillion ($250.5B), up from ¥25.7 trillion the prior year, driven by strong performance in Arm and OpenAI.

• Strategic focus on four AI pillars: AI model, AI chip, physical AI, and AI infrastructure, with major investments in OpenAI, Arm, and robotics.

• Significant expansion in AI infrastructure, including the world's largest integrated power and data center campus in Ohio.

• Major strategic investments included a cumulative $34.6 billion in OpenAI, with a fair value of $79.6 billion and a $45.0 billion cumulative gain; a new $30.0 billion follow-on commitment was made in February 2026.

Financial highlights

• FY2025 net sales: ¥7,798.7 billion (+¥554.9B YoY); net income: ¥5,002.3 billion (+¥3,848.9B YoY); income before income tax: ¥6,134.9 billion (+259.9% YoY).

• NAV increased to ¥40.1 trillion as of March 31, 2026, with improved LTV (17.0%) and cash position of ¥3.5 trillion.

• Arm delivered record revenue ($4.92B, +23% YoY) and record EPS ($1.63), despite higher R&D expenses.

• OpenAI valuation surged from $260B to $730B within the year; cumulative investment to reach $64.6B by October 2026.

• Cash and cash equivalents at year-end were ¥5,362.2 billion, up ¥1,649.1 billion year-over-year.

Outlook and guidance

• Arm targets 5x revenue and EPS growth by 2030, aiming for at least 15% share of a $100B+ TAM.

• OpenAI enterprise revenue expected to reach parity with consumer revenue by end of 2026.

• Continued expansion in AI infrastructure, robotics, and energy/data center projects in the US and Japan.

• No consolidated earnings forecasts were provided due to uncertainties affecting earnings.