Earnings Results for Q1 FY2024
Earnings Results for Q1 FY2024（August 7, 2024）
SoftBank Group Corp. announced on August 7, 2024 its earnings results for the first quarter of the fiscal year ending March 31, 2025.
Webcast
Full-length (1:24:27)
9-minute highlight video is also available.
[Short Video] SoftBank Group Earnings : Q1 FY2024 by Yoshimitsu Goto, Board Director, Corporate Officer, Senior Vice President, CFO & CISO
Earnings Highlights (Three-month period ended June 30, 2024)
1. Results highlights
¥559.7 billion investment gain (¥699.0 billion loss for the same period of the previous fiscal year)
- ¥567.9 billion investment gain at Investment Business of Holding Companies
- Investment gains of ¥235.7 billion on Alibaba shares and ¥179.1 billion*1 on T-Mobile shares
- ¥32.4 billion investment gain at SoftBank Vision Funds (excluding losses associated with SVF’s investments in the Company’s subsidiaries)
- The fair values of a portion of investments, including ByteDance, Coupang, and DiDi, increased; however, these gains were offset by decreases in the fair values of other investments, reflecting weaker performance indicators and share price decreases among market comparable companies.
- Since inception, the gross performance has been a gain of $19.6 billion for SVF1 and a loss of $21.9 billion for SVF2.*2
Note: Since Arm, SoftBank Corp., and other subsidiaries are consolidated, changes in the fair value of their shares are not recorded in the Company’s consolidated statement of profit or loss.
¥225.7 billion income before income tax (improvement of ¥401.9 billion YoY)
reflecting the recordings of:
- Selling, general and administrative expenses of ¥719.7 billion
- Finance cost of ¥137.6 billion
- Foreign exchange loss of ¥443.9 billion due to the impact of the weaker yen. This resulted from a net excess of U.S. dollar-denominated liabilities over U.S. dollar-denominated cash and cash equivalents and loans receivable, primarily within SBG.
- Increase in third-party interests in SVF of ¥205.3 billion. This was due to the recording of an investment gain of ¥442.5 billion at SVF1 (on an SVF segment basis), where the proportion of third-party interests is significant, resulting in an increase in third-party interests of ¥175.6 billion (attributable to investors entitled to performance-based distribution).
¥174.3 billion net loss attributable to owners of the parent (improvement of ¥303.3 billion YoY)
reflecting the recordings of:
- Income taxes of ¥215.2 billion
- Net income attributable to non-controlling interests of ¥184.7 billion
2. Sequentially implement growth investments
SBG and its wholly owned subsidiaries
Total investment of ¥193.2 billion, primarily strategic investments.*3
Examples of investments during the first quarter:
- Wayve Technologies: A U.K. technology company developing autonomous driving platforms based on data learning using AI
- Tempus AI: A U.S. technology company conducting genomic testing and collecting medical data for analysis by AI to provide physicians with treatment option proposals. Listed on the Nasdaq Global Select Market in June 2024. In August 2024, SB TEMPUS started its operations as a joint venture between Tempus AI and the Company to provide services in Japan.
SVF
Total investment of $0.60 billion, primarily in the Frontier Tech and Enterprise sectors,*4 net of investments in the Company’s subsidiaries that were eliminated in consolidation.
3. Refinance of bonds
Domestic straight bonds
The Company issued domestic straight bonds of ¥100.0 billion to wholesale markets in April 2024 and ¥550.0 billion to retail markets in June 2024. The Company redeemed domestic straight bonds of ¥450.0 billion upon maturity in June 2024.
Foreign currency-denominated senior notes
In July 2024, following the first quarter, the Company issued U.S. dollar-denominated senior notes of $0.9 billion and euro-denominated senior notes of 0.9 billion euros. Additionally, the Company redeemed U.S. dollar-denominated senior notes of $767 million prior to maturity and euro-denominated senior notes of 638 million euros upon maturity, both in the same month.
4. Resolved a share repurchase program with a maximum of ¥500 billion
On August 7, 2024, following the first quarter, the Board resolved to repurchase the Company’s shares with a maximum of ¥500 billion.
Includes derivative gains and losses on investments and effects of foreign exchange translation
Gross amounts before deductions, such as third-party interests and taxes
The amount comprises the investment outlay by SBG and its primary wholly owned subsidiaries (excluding investments in U.S. Treasury Bonds), as accounted for under “Payments for acquisition of investments” in the consolidated statement of cash flows.
The amounts recorded in the consolidated statement of cash flows.
Refer to “ Consolidated Financial Report for the three-month period ended June 30, 2024” to find more details and definition of each company name and abbreviation.
Materials＆News
| Q1 | Q2 | Q3 | Q4 | |
|---|---|---|---|---|
| FY2024 | Aug. 7, 2024 | ー | ー | ー |
| Webcast | Video | ー | ー | ー |
| CFO Reflections | Video | ー | ー | ー |
| Highlights | Video | ー | ー | ー |
| Presentation |
| ー | ー | ー |
| Quarterly Results |
| ー | ー | ー |
| Data Sheet |
| ー | ー | ー |
| ー | ー | ー | |
| FY2023 | Aug. 8, 2023 | Nov. 9, 2023 | Feb. 8, 2024 | May 13, 2024 |
| Webcast | Video | Video | Video | Video |
| CFO Reflections | Video | Video | Video | Video |
| Highlights | Video | Video | Video | Video |
| Presentation |
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| Quarterly Results |
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| Data Sheet |
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