Investor Relations

Net Asset Value per Share

This page shows NAV (Net Asset Value) per share of SoftBank Group Corp. as of the end of the latest financial period. Unless otherwise stated, calculations are based on data as of the end of September 2024.

As of September 30, 2024

(Reference)

Share price	8,427 yen

LTV (Loan to Value)^*2	12.5 %

Calculation of NAV（Net Asset Value）

NAV^*1
29.01
trillions of yen
Equity value of holdings^*3
33.14
trillions of yen
Net debt^*4
4.13
trillions of yen

(Trillions of yen)

NAV^*1	29.01

(Trillions of yen)

Equity value of holdings^*3 (after adjusting asset-backed financing)	33.14
Details:
Arm (adjusted) Arm Adjustment on asset-backed finance	16.50 17.70 -1.20
SVF1	3.65
SVF2	4.04
LatAm Funds	0.94
SBKK (adjusted) SBKK Adjustment on asset-backed finance	3.06 3.58 -0.53
T-Mobile	2.51
Deutsche Telekom (adjusted) Deutsche Telekom Adjustment on asset-backed finance	0.37 0.95 -0.58
Alibaba (adjusted) Alibaba Adjustment on asset-backed finance	0.01 4.27 -4.27
Others	2.06

(Trillions of yen)

Net debt^*4	4.13
Consolidated net interest-bearing debt	15.43
(adjustment) Net interest-bearing debt at self-financing entities, etc.	5.16
(adjustment) others	6.14

Total number of shares issued (excl. treasury stock) (million shares)	1,447
USD/JPY	142.73

Historical data

NAV (Net Asset Value)
- NAV = Equity value of holdings - Net debt
- NAV per share = NAV / Total number of shares issued (excluding treasury stock)
LTV (Loan to Value)
- LTV = Net debt / Equity value of holdings
Equity value of holdings (after adjustment for asset-backed financing)
- Arm: the number of Arm ADSs equivalent to the number of shares held by SBG × Arm ADS price - the payable amount of the consideration for Arm shares acquired from SVF1 through an intra-group transaction - the equivalent amount of outstanding liabilities for margin loans using Arm shares.
- SVF1: SBG's share of SVF1's NAV + accrued performance fees, etc.
- SVF2: SBG's share of SVF2's NAV, etc.
- LatAm Funds: SBG's share of LatAm Funds' NAV + accrued performance fees, etc.
- SBKK: the number of shares held by SBG × SBKK share price - the equivalent amount of outstanding liabilities for margin loans, etc. using SBKK shares.
- T-Mobile: the number of T-Mobile shares held by SBG × T-Mobile share price.
- Deutsche Telekom: the number of Deutsche Telekom shares held by SBG × Deutsche Telekom share price - the maturity settlement amount of a collar transaction using Deutsche Telekom shares.
- Alibaba: the number of Alibaba ADSs equivalent to the number of shares held by SBG × Alibaba ADS price - the sum of the outstanding maturity settlement amounts (calculated by using the company’s share price) of the prepaid forward contracts (collar and forward contracts) using Alibaba shares.
- Other: (a) + (b) + (c)
  (a) Listed shares: the number of shares held by SBG multiplied by the share price of each share.
  (b) Unlisted shares: calculated based on the fair value (or the carrying amount in SBG’s balance sheet for those not measured at fair value) of unlisted shares, etc. held by SBG.
  (c) SB Northstar: SBG’s share of SB Northstar's NAV. Cash and cash equivalents, bond investments, and a part of interest-bearing debt except for margin loans and prime brokerage loans, are treated as a part of the net interest-bearing debt of SBG therefore not included in the calculation of SB Northstar’s NAV.
Net debt (after adjustment for asset-backed financing)
- Net debt = SBG net interest-bearing debt
- SBG net interest-bearing debt = consolidated net interest-bearing debt - net interest-bearing debt at self-financing entities, etc. - other adjustments
  Consolidated net interest-bearing debt: excludes bank deposits and cash position at PayPay Bank Corporation
- Net interest-bearing debt at self-financing entities, etc.: the sum of gross interest-bearing debt - the sum of cash positions of self-financing entities, such as Arm, SVF1, SVF2, LatAm Funds, and SBKK (including its subsidiaries such as LY Corporation and PayPay Corporation) , as well as SB Northstar.
  - Note: Cash and cash equivalents, bond investments, and a part of interest-bearing debt except for margin loans and prime brokerage loans of SB Northstar are included in the net interest-bearing debt of SBG.
- Other adjustments: the sum of adjustments of (d) to (i) below
  (d) Among the hybrid bonds and hybrid loans with a redemption date, the entire amount is recorded as interest-bearing debt in consolidated accounting. Therefore, 50% is deducted from the interest-bearing debt (to be treated as equity).
  Applicable to 4th JPY-denominated hybrid bonds, 5th JPY-denominated hybrid bonds, 6th JPY-denominated hybrid bonds
  (e) Among the hybrid bonds, perpetual bonds without a redemption date are recorded in full as equity under consolidated accounting. Therefore, 50% of these bonds are included in the interest-bearing debt.
  Applicable to USD-denominated NC10 undated hybrid notes
  (f) Deduction of the amount equivalent to the outstanding balance of the borrowings made through margin loans using Arm shares.
  (g) Deduction of the equivalent amount of outstanding liabilities for margin loans, etc. using SBKK shares.
  (h) Deduction of financial liabilities recorded as borrowings related to collar transactions using Deutsche Telekom shares.
  (i) Deduction of financial liabilities related to prepaid forward contracts (collar contracts and forward contracts) using Alibaba shares.

SBG = SoftBank Group Corp., Arm = Arm Holdings plc, SVF1 = SoftBank Vision Fund 1, SVF2 = SoftBank Vision Fund 2, LatAm Funds = SoftBank Latin America Funds, SBKK = SoftBank Corp., T-Mobile = T-Mobile US, Inc., Deutsche Telekom = Deutsche Telekom AG,, Alibaba = Alibaba Group Holding Limited
Before considering tax unless otherwise stated
The information herein is based on assumptions made by the Company and is not indicative of the price of SoftBank Group Corp.'s common shares or any securities held by the Company and should not form the basis of any investment decisions.