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 June 30, 2023.
As of June 30, 2023
NAV per Share*1
10,616yen/share
- (Reference)
Share price 6,773 yen LTV (Loan to Value)*2 8.0 %
Calculation of NAV (Net Asset Value)
NAV*1
15.54
trillions of yen
Equity value of holdings*3
16.90
trillions of yen
Net debt*4
1.35
trillions of yen
(Trillions of yen)
| NAV*1 | 15.54 |
|---|
(Trillions of yen)
| Equity value of holdings*3 (after adjusting asset-backed financing) | 16.90 |
|---|---|
Alibaba (adjusted)
| 0.02
|
SBKK (adjusted)
| 2.39
|
| SVF1 | 3.03 |
| SVF2 | 4.04 |
| LatAm Funds | 0.91 |
T-Mobile (adjusted)
| 1.20
|
Deutsche Telekom (adjusted)
| 0.23
|
Arm
| 3.66
|
| Others | 1.42 |
(Trillions of yen)
| Net debt*4 | 1.35 |
|---|---|
| Consolidated net interest-bearing debt | 14.70 |
| (adjustment) Net interest-bearing debt at self-financing entities, etc. | 5.76 |
| (adjustment) others | 7.59 |
| Total number of shares issued (excl. treasury stock) | 1,464 million shares |
|---|---|
| USD/JPY | 144.99 |
- 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)
- 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 (floor contracts, collar contracts, forward contracts, and call spread) using Alibaba shares.
- SBKK: the number of shares held by SBG × SBKK share price - the equivalent amount of outstanding liabilities for margin loans, etc. using SBKK shares.
- SVF1: SBG's share of the equivalent value of assets held by SVF1 + accrued performance fees, etc.
- SVF2: SBG's share of the equivalent value of assets held by SVF2, etc.
- LatAm Funds: SBG's share of the equivalent value of assets held by LatAm Funds + accrued performance fees.
- T-Mobile: (a) + (b) - (c) - (d)
(a) The number of T-Mobile shares held by SBG, including the number of shares subject to call options held by Deutsche Telekom (34,971,809 shares as of June 30, 2023) × T-Mobile share price.
(b) Fair value of SBG’s right to acquire the company’s shares (48,751,557 shares) for no consideration under certain conditions (Contingent consideration).
(c) The amount of derivative financial liabilities related to unexercised call options held by Deutsche Telekom.
(d) Maturity settlement amount of the prepaid forward contracts (collar contracts) using T-Mobile shares (calculated by using the company’s 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.
- Arm: the fair value of all Arm shares calculated at SVF1 × SBG ownership (approximately 75% of shares outstanding) - the amount equivalent to the outstanding balance of the borrowings made through asset-backed finance using Arm shares.
- Other: (e) + (f) + (g)
(e) Listed shares: the number of shares held by SBG multiplied by the share price of each listed share.
(f) 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.
(g) SB Northstar: SBG’s share of SB Northstar's NAV plus the value of NVIDIA Corporation shares held by SBG multiplied by its share price. Cash and cash equivalents and interest-bearing debt, other than margin loans and prime brokerage loans, are treated as net interest-bearing debt of SBG therefore not included in the calculation of SB Northstar’s NAV. There is no balance of margin loans and prime brokerage loans of SB Northstar as of June 30, 2023.
- 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 SBKK (including its subsidiaries such as Z Holdings Corporation and PayPay Corporation), SVF1, SVF2, LatAm Funds, and Arm, as well as SB Northstar.
- Note: Cash and cash equivalents and interest-bearing debt, other than margin loans and prime brokerage loans of SB Northstar are included in net interest-bearing debt of SBG. There is no balance of margin loans and prime brokerage loans of SB Northstar as of June 30, 2023.
- Other adjustments: the sum of adjustments of (h) to (q) below
(h) USD Hybrid Notes issued in July 2017: 50% added to interest-bearing debt (to be treated as a liability), as the entire amount is recorded as equity in the consolidated financial statements (the entire balance of NC6 Hybrid Notes, which was redeemed on the first voluntary redemption date in July 2023, is added to interest-bearing debt).
(i) JPY Hybrid Loan borrowed in November 2017: 50% deducted from interest-bearing debt (to be treated as equity), as the entire amount is recorded as interest-bearing debt in the consolidated financial statements.
(j) JPY Hybrid Bonds issued in February and June 2021: 50% deducted from interest-bearing debt (to be treated as equity), as the entire amount is recorded as interest-bearing debt in the consolidated financial statements.
(k) JPY Hybrid Notes issued in April 2023: 50% deducted from interest-bearing debt (to be treated as equity), as the entire amount is recorded as interest-bearing debt in the consolidated financial statements.
(l) JPY Hybrid Loan borrowed in May 2023: 50% deducted from interest-bearing debt (to be treated as equity), as the entire amount is recorded as interest-bearing debt in the consolidated financial statements.
(m) Deduction of financial liabilities related to prepaid forward contracts (floor contracts, collar contracts, and forward contracts) using Alibaba shares.
(n) Deduction of the equivalent amount of outstanding liabilities for margin loans, etc. using SBKK shares.
(o) Deduction of financial liabilities related to prepaid forward contracts (collar contracts) using T-Mobile shares.
(p) Deduction of financial liabilities recorded as borrowings related to collar transactions using Deutsche Telekom shares.
(q) Deduction of the amount equivalent to the outstanding balance of the borrowings made through asset-backed finance using Arm shares.
- SBG = SoftBank Group Corp., Alibaba = Alibaba Group Holding Limited, SBKK = SoftBank Corp., SVF1 = SoftBank Vision Fund 1, SVF2 = SoftBank Vision Fund 2, LatAm Funds = SoftBank Latin America Funds, T-Mobile = T-Mobile US, Inc., Deutsche Telekom = Deutsche Telekom AG, Arm = Arm 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.
