Operating Results
Download XLS data| FY2021 (Retrospectively adjusted) |
FY2022 | FY2023 | FY2024 | |
| Revenue | 5,690.6 | 5,912.0 | 6,084.0 | 6,544.3 |
| Adjusted EBITDA*1 | 1,741.8 | 1,566.4 | 1,667.7 | 1,753.1 |
| Operating income | 965.6 | 1,060.2 | 876.1 | 989.0 |
| Net income attributable to owners of the Company*2 | 517.1 | 531.4 | 489.1 | 526.1 |
| Adjusted EBITDA margin (%) | 30.6 | 26.5 | 27.4 | 26.8 |
| Operating margin (%) | 17.0 | 17.9 | 14.4 | 15.1 |
| Net income attributable to owners of the Company ratio (ROE) (%)*3,4 | 27.3 | 25.4 | 21.3 | 20.5 |
[Notes]
- *1
Adjusted EBITDA = operating income + depreciation and amortization (including loss on disposal of non-current assets) + stock compensation expenses ± other adjustments
The definition of Adjusted EBITDA has been revised to include stock compensation expenses from FY2021, figure of FY2020 is restated accordingly - *2 Net income attributable to owners of the Company: Net income attributable to owners of SoftBank Corp.
- *3 Figures have been adjusted retrospectively to reflect the completion of provisional accounting treatment for business integration of Z Holdings Corporation with LINE Corporation in March 2021 (FY2020)
- *4 Net income attributable to owners of the Company ratio (ROE) ＝ Net income attributable to owners of the Company / Average of total equity attributable to owners of the Company at the beginning and end of the relevant period
- *5
Net interest-bearing debt = Interest-bearing debt - Cash and cash equivalents - Cash reserve for securitization of sales receivables
Cash reserve for securitization of sales receivables is included in net interest-bearing debt from FY2020, figures from FY2017 are restated accordingly - *6 Ratio of equity attributable to owners of the Company to total assets = total equity attributable to owners of the Company ÷ total assets
- *7 "LY Group and PayPay, etc." refers to A Holdings Corporation, LY Corporation and its subsidiaries (LY Group), B Holdings Corporation, PayPay Corporation, PayPay Card Corporation, PayPay Securities Corporation, etc.
- *8
Net leverage ratio = Net interest-bearing debt / Adjusted EBITDA
Adjusted EBITDA (LTM) used in the calculation of net leverage ratio includes retrospectively adjusted EBITDA of ZOZO Inc. for the period before consolidation (FY2019) and retrospectively adjusted EBITDA of LINE Corporation for the period before consolidation (FY2020) - *9 "Excluding LY Group and PayPay, etc., and securitization of installment sales receivables" refers to exclusion of net interest-bearing debt and adjusted EBITDA of "LY Group and PayPay, etc."*7, interest-bearing debt of securitization of installment sales receivables, and cash reserve for securitization of sales receivables
- *10 Adjusted free cash flow (excluding LY Group and PayPay, etc.) = free cash flow + (proceeds from the securitization of installment sales receivables - repayments thereof) - free cash flow of the "LY Group and PayPay, etc."*7 + other items such as dividends received from A Holdings Corporation and investment in PayPay Securities Corporation.
- *11 Primary free cash flow is a measure calculated by adding back the amounts spent as long-term growth investments to adjusted free cash flow (excluding LY Group and PayPay, etc.). Long-term growth investments include investments in AI computing infrastructure, AI data centers, and Cubic Telecom Ltd.
- *12 Price Earnings Ratio: Stock close price on the last day of each fiscal year / Basic earnings per share for each fiscal year
- *13 Price Book-value Ratio: Stock close price on the last day of each fiscal year / Equity attributable to owners of the Company per share for each fiscal year
- *14 Price Earnings Ratio and Price Book-value Ratio are calculated based on the Equity attributable to owners of the Company excluding the amount not attributable to common shareholders.
- *15 The dividends related to Bond-Type Class Shares are deducted in the calculation of basic earnings per share
- *16 Equity per share attributable to owners of the Company is based on Equity attributable to owners of the Company excluding the amount not attributable to common shareholders
- * The Company has conducted a stock split at a ratio of 10 shares per common share, with the effective date being October 1, 2024. The basic earnings per share, the equity per share attributable to owners of the Company and the dividends per share prior to October 1, 2024 have been adjusted to reflect this stock split
- * FY2017~2021 (Prior to retrospective adj.): SoftBank Corp. has adopted IFRS 15 for FY2018, and applying this standard retrospectively for FY2017. SoftBank Corp. has adopted IFRS 16 “Leases” from FY2019. Transactions under common control are accounted for as if such transactions were executed by SoftBank Corp. and its subsidiaries on the later of the acquisition date of the transferred companies by SoftBank Group Corp. or the opening balance sheet date of the comparative period. Accordingly, figures in Operating Results, Financial Position and Per Share Information for FY2018 was adjusted retrospectively for the transactions under common controls (including acquisition of Z Holdings Corporation (currently, LY Corporation) occurred in FY2019.
- * FY2021 (Retrospectively adjusted): The accounting policy for transactions under common control has been changed from the book-value method to the acquisition method from FY2022Q3. Accordingly, accounting treatment for the consolidation of Yahoo Japan Corporation (currently, LY Corporation) in FY2019Q1 has been retrospectively amended, and figures for FY2021 have been restated to reflect the retrospective amendment
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