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Earnings Results for Q1 FY2022

Earnings Results for Q1 FY2022 ― August 8, 2022

Webcast

Earnings Results Briefing for Q1 FY2022

7-minute highlight video is available on SoftBank Group Corp.’s YouTube channel.

A Conversation with Masayoshi Son ― SoftBank Group Earnings: Q1 FY2022

Earnings Highlights

1. Highlights of results
Loss on investments of ¥2,834.4 billion
  • ¥2,919.1 billion investment loss at SoftBank Vision Funds (of which ¥631.4 billion was attributable to third-party interests)
  • SVF1: Realized loss (net) of ¥30.5 billion was recorded mainly due to monetization of investments in public portfolio companies.*1 Unrealized loss on valuation (net) totaled ¥1,215.6 billion mainly due to the decline in the share prices of public portfolio companies, which reflected the global downward trend in share prices due to growing concerns over economic recession driven by inflation and rising interest rates, as well as the decline in the fair value of private portfolio companies,*1 reflecting share price declines in market comparable companies.
  • SVF2: Recorded realized gain of ¥3.3 billion. Unrealized loss on valuation (net) totaled ¥1,326.0 billion mainly due to declines in the share prices of public portfolio companies as well as declines in fair value in a wide range of private portfolio companies, reflecting mark-downs of those with recent funding rounds and/or weaker performance, as well as share price declines in market comparable companies.
Loss before income tax of ¥3,292.5 billion (deterioration of ¥4,584.9 billion yoy)
  • Recorded finance cost of ¥114.1 billion. Foreign exchange loss of ¥820.0 billion was recorded due to the impact of an increase in U.S. dollar-denominated net liabilities of domestic Group companies in yen terms reflecting the weaker yen. Derivative loss (excluding gain (loss) on investments) of ¥259.3 billion was also recorded related to prepaid forward contracts using Alibaba shares, due to an increase in the Alibaba share price.
Net loss attributable to owners of the parent of ¥3,162.7 billion (deterioration of ¥3,924.2 billion yoy)
2．Prudent defensive financial management, including continued monetization and heightened investment discipline, resulted in a large improvement in LTV*2
Continued monetization
  • $10.49 billion was raised through prepaid forward contracts using Alibaba shares.
  • 21.2 million T-Mobile shares were sold for $2.40 billion.
Heightened investment discipline
  • SVF1 made follow-on investments in existing portfolio companies totaling $0.06 billion in the first quarter and held 80 investments*3 as of the first quarter-end.
  • SVF2 made new and follow-on investments totaling $2.11 billion in the first quarter, bringing the fund’s total cost to $49.65 billion. SVF2 held 269 investments*4 as of the first quarter-end.
  • LatAm Funds invested $0.15 billion in total in the first quarter and held 88 investments as of the first quarter-end.
3．Continued share repurchase
  • SBG acquired shares totaling ¥293.5 billion in the first quarter. This brought the cumulative repurchase total to ¥638.1 billion as of June 30, 2022, of the up to ¥1 trillion share repurchase program authorized in November 2021. As of July 31, 2022, SBG had acquired the cumulative total of ¥704.8 billion worth of shares.

  1. Public portfolio companies are shares traded on stock exchanges or over-the-counter markets. Private portfolio companies are those that do not fall under the category of public portfolio companies. The same applies hereinafter.

  2. The ratio of liabilities to holding assets, which is calculated as adjusted net interest-bearing debt divided by equity value of holdings. Equity value of holdings and adjusted net interest-bearing debt each exclude amounts to be settled at maturity or borrowings that are part of asset-backed finance. The calculation of adjusted net interest-bearing debt excludes interest-bearing debt and cash and cash equivalents, etc. attributable to entities managed on a self-financing basis such as SoftBank Corp. (including its subsidiaries such as Z Holdings Corporation), SVF1, SVF2, LatAm Funds, Arm, and PayPay Corporation, as well as SB Northstar.

  3. Includes two investments accounted for as subsidiaries of the Company.

  4. Includes one investment accounted for as a subsidiary of the Company.

Materials＆News

Materials
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FY2022Aug. 8, 2022−−−
Webcast − − −
CEO Reflections − − −
Highlights − − −
Presentation


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Quarterly Results


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Data Sheet


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FY2021Aug. 10, 2021Nov. 8, 2021Feb. 8, 2022May 12, 2022
Webcast
CEO Reflections − −
Highlights
Presentation


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Quarterly Results


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Data Sheet


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Go to Events and Presentations to find other materials including for Earnings Investor Briefings as well as archived videos.

The latest Net Asset Value per Share is available here.

News

Highlights of Past Earnings Results Briefings

You can find highlights of the past earnings results briefings on SoftBank Group Corp.’s YouTube channel.

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Disclaimer

 

The presentation and comments (including the posts from the official social media accounts) is made based on information available at the time it was made.
Statements in the webcasts that are not historical facts including, without limitation, our plans, forecasts and strategies are Forward-looking Statements.
Forward-looking Statements are subject to various risks and uncertainties, including, without limitation, general economic conditions, general market conditions, customer demand for products and services, increased competition, inherent risks in international operations and other important factors, which may cause actual results to differ materially from those expressed or implied in any Forward-looking Statement.
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