Operating Results
(Billions of yen)
[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, B Holdings Corporation, PayPay Corporation, and PayPay Card Corporation
- *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 = free cash flow + (proceeds from the securitization of installment sales receivables - repayments thereof)
- *11
Adjusted free cash flow (SoftBank) excludes free cash flows of "LY Group and PayPay, etc."*7, loans to board directors etc., and includes dividends received from A Holdings Corporation
- *
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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