Shareholder Value per Share

as of Dec. 13, 2018 8:00 (JST)

Share price 9,026 yen
Shareholder value 10,879 yen/share
[Notes]
  • *
    Shareholder value for SoftBank Corp. will be included if listed.
  • *
    Before considering tax
Enterprise value (SOTP) 20,068 yen/share

Details:

Alibaba (updated daily) 10,427 yen/share
Sprint (updated daily) 2,433 yen/share
Yahoo Japan (updated daily) 701 yen/share
Arm 2,549 yen/share
SoftBank Vision Fund/Delta Fund/ Uber/ DiDi/ Others (updated quarterly) 3,186 yen/share
Others (updated quarterly) 772 yen/share
[Notes]
  • *
    Shareholder value for SoftBank Corp. will be included if listed.
  • *
    Before considering tax
Net interest-bearing debt (excl. Sprint) 9,189 yen/share
Shares issued (excl. treasury shares) 1,089 million shares
USD/JPY 113.45
  • Shareholder value: calculated by deducting net interest-bearing debt (excluding Sprint) from enterprise value (SOTP)
  • Alibaba: calculated by multiplying the number of Alibaba shares held by the Company (excluding those pledged for Mandatory Exchangeable Trust Securities) by the latest closing price available at NYSE of Alibaba shares
  • Sprint: calculated by multiplying the latest share price of T-Mobile US, Inc. by the exchange ratio: 0.10256 on the premise of a future merger
  • Yahoo Japan: calculated by multiplying the number of Yahoo Japan shares held by the Company and SoftBank Corp. by the latest closing price available at TSE of Yahoo Japan shares
  • Arm: calculated based on the consideration transferred for the Company's acquisition, excluding the number of Arm shares held by SoftBank Vision Fund at the latest quarter-end
  • SoftBank Vision Fund/ Delta Fund/ Uber/ DiDi/ Others:
    Value of the Company's equity interests in SoftBank Vision Fund and Delta Fund is the sum of ⅰ) the product of (x) the respective fund's estimated Net Asset Value attributable to Class A Equity Interests and (y) the Company's Equity Commitment as a percentage of the respective fund's Total Equity Commitment; and ⅱ) any Performance Fee accrued and payable to the General Partner of the respective fund.

    Fund Net Asset Value attributable to Class A Equity Interests is estimated using the fair value of Fund investments after deducting management fees, performance fees, and other Fund expenses and liabilities, all of which is as attributable to Class A Equity Interests. Fair value of Fund investments is as of the prior quarter end.

    Fair value of the Company investments in private companies, including but not limited to Uber Technologies, Inc. (“Uber”) and Xiaoju Kuaizhi Inc. (“DiDi”) is as of the prior quarter end.

  • Others: calculated mainly based on fair value of unlisted shares held by the Company. The fair values refer to the data at the latest quarter-end
  • Net interest-bearing debt (excl. Sprint): excludes financial liabilities relating to sale of Alibaba shares by variable prepaid forward contract, net interest-bearing debt of Sprint, Yahoo Japan (incl. The Japan Net Bank), Arm, SoftBank Vision Fund and Delta Fund
[Notes]
  • *
    The information herein is based on assumptions made by the Company and is not indicative of the price of the Company's common shares or any securities held by the Company and should not form the basis of any investment decisions.
  • *
    Based on data as of September 30 2018 unless otherwise stated.
  • *
    Preliminary application for the listing of SoftBank Corp. shares is based upon the premise that SoftBank Corp. will continue to be a major consolidated subsidiary of the Company that plays a central role in domestic businesses such as the telecommunications business after being listed. In addition, The Company will carefully study corporate and capital structures for the Group, taking into account the impact on its creditworthiness and cash flow as a group, with the aim of growing the entire Group and maximizing its corporate value while continuing to ensure sound financial discipline.
    At present, there is no guarantee of the likelihood and timing of the listing given that SoftBank Corp. needs to obtain the TSE's approval for the listing following a review by the Japan Exchange Regulation.
  • *
    The information on this page does not constitute an offer of securities in the United States. The SoftBank Corp. shares referred to above have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration thereunder or an applicable exemption from registration requirements.