Summary of Earnings Results Briefing
for Q1 FY2022

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Date Thursday, August 4, 2022 4:00 pm - 5:00 pm
Speakers SoftBank Corp.
Junichi Miyakawa (President & CEO)
Kazuhiko Fujihara (Board Director, Executive Vice President & CFO)


At the earnings results briefing, Mr. Junichi Miyakawa, President & CEO of SoftBank Corp., discussed the consolidated results for Q1 FY2022.

Consolidated Results
for Q1 FY2022

Company-wide results

  • Revenue for Q1 FY2022 was ¥1,362.0 billion, up 0.4% year on year.
  • Operating income was ¥247.1 billion, down 13% year on year.
  • Net income attributable to owners of SoftBank Corp. was ¥128.5 billion, down 15% year on year.
  • The progress for Q1 is in line with the full-year forecasts, with a progress rate of 23% for revenue, 25% for operating income, and 24% for net income attributable to owners of SoftBank Corp.

Results by Segment

Consumer segment

  • Revenue decreased by 4% year on year, and segment income declined by 16% year on year. Results were affected by factors such as the impact of mobile service price reduction and an increase in acquisition-related expenses. The impact of mobile service price reduction on reducing segment income is expected to hit bottom in FY2022 and become much smaller in the next fiscal year and beyond.
  • Operating income performed steadily against the forecast at the beginning of the fiscal year, with a progress rate for Q1 of 32%.
  • Cumulative smartphone subscribers increased by 7% from the end of the same period in the previous fiscal year. Also, net additions of smartphone and main subscriber improved substantially year on year.

Enterprise segment

  • Revenue increased by 3% year on year, while segment income decreased by 5% year on year. Excluding the effect of a reversal of a one-time cost recorded in 1Q FY2021 (¥2.7 billion), segment income rose by 2%.
  • Business solution and others revenue continued to perform firmly, increasing 12% year on year.
  • Recurring revenue, which makes up more than 70% of business solution and others revenue, increased by 12% year on year. It has contributed to steady growth in results.

Yahoo! JAPAN/LINE segment

  • Revenue increased by 5% year on year, while segment income decreased by 3% year on year. Results were affected by factors such as an increase in expenses associated with strengthening recruitment for growth etc.
  • Domestic EC merchandise transaction value increased by 6% year on year.


  • The number of registered users exceeded 48 million at the end of June 2022. The number of payments in 1Q FY2022 was 1.11 billion.
  • Gross merchandise value (GMV) was ¥1.7 trillion, increased by 38% year on year.

Making PayPay Corporation a Consolidated Subsidiary

  • PayPay Corporation has transitioned from a business growth phase to a full-fledged monetization phase.
  • PayPay Corporation will be converted into a consolidated subsidiary through an intermediate holding company that will be jointly operated by SoftBank Corp. and Z Holdings Corporation, in order to develop stronger linkages between the two companies' customer bases and services and PayPay, thereby maximizing the corporate value of PayPay Corporation and the SoftBank Corp. group.
  • PayPay Corporation is scheduled to become a consolidated subsidiary on October 1, 2022. SoftBank Corp. expects to recognize the re-measurement profit from the consolidation of PayPay Corporation in Q3 FY2022.
  • In addition to driving the growth of PayPay itself, SoftBank Corp. and Z Holdings Corporation will jointly expand the PayPay ecosystem to pave the way for the growth of SoftBank Corp.'s Consumer segment, Enterprise segment, and group companies.
  • The Financial Business (tentative name) is scheduled to be newly established after PayPay Corporation is converted into a consolidated subsidiary.
  • Payment and Financial business will be added as core business to SoftBank Corp.'s business portfolio, with a view to further accelerating the “Beyond Carrier” strategy.