Key Highlights
- Revenue and profit increased in all segments
- Record highs reached for revenue, operating income and net income
- Revenue up 8%, operating income up 7% and net income up 8% year-on-year
- Steady progress being made toward full-year forecast
- Non-telecom share of revenue reached 63% in FY2025 H1 (vs. 47% in FY2020 H1)
On November 5, 2025, SoftBank Corp. (TOKYO: 9434) President & CEO Junichi Miyakawa presented earnings results for the second quarter (April - September 2025, Q2) of the fiscal year ending March 31, 2026 (FY2025). At the press conference held in Tokyo, Miyakawa reviewed SoftBank’s consolidated results for the first half (H1) of FY2025, reporting revenue of 3,400.8 billion JPY, an 8% year-on-year (YoY) increase and a H1 record-high. Operating income was 628.9 billion JPY and net income was 348.8 billion JPY, representing 7% and 8% YoY increases, respectively, and also record H1 highs.
Miyakawa noted that with these results steady progress is being made toward the FY2025 full-year forecast, with 51% of revenue, 63% of operating income and 65% of net income achieved in H1 so far.
The favorable results were mainly attributable to:
- Double-digit revenue growth in the Distribution Business segment and Financial Business segment
- A doubling of operating income in the Financial Business segment
- Double-digit profit growth in the Distribution Business, Media & EC Business and Enterprise Business segments
Miyakawa noted that the non-telecom share of total revenue increased significantly, reaching 63% in FY2025 H1 compared to 47% five years earlier in FY2020 H1 when he first became CEO.
All business segments report revenue and profit growth
Reviewing SoftBank’s segments in detail, Miyakawa reported that FY2025 H1 revenue for the Consumer Business segment was 1,475.7 billion JPY, up 3% YoY. Operating income was also up 3% YoY at 330.9 billion JPY. The smartphone subscriber growth trend continued with a 3% increase in subscribers recorded in FY25 Q2.
The Enterprise Business segment registered 482.0 billion JPY of revenue in FY2025 H1, an 8% increase YoY that was driven by steady growth in business solutions. The segment also registered record-high operating income of 104.1 billion JPY in operating income, a 10% increase YoY.
For the Distribution Business segment, Miyakawa highlighted record-high revenue (505.8 billion JPY and a 17% increase YoY) and operating income (22.0 billion yen JPY and a 36% increase YoY). The strong performance was mainly due to sales of AI-related products and an expansion of recurring revenue. Miyakawa explained that the segment’s customers are mainly enterprise customers, and that the segment is forecast to achieve over 1 trillion JPY in revenue, putting it on a similar level to the Enterprise Business segment in revenue terms. “That means we’re on our way to breaking past the 2 trillion JPY mark in revenue for enterprise customers,” he said.
The Media & EC Business segment, which incorporates LY Corporation (the operator of “LINE” and “Yahoo! JAPAN” services), also saw FY2025 H1 growth in revenue and operating income, with YoY increases of 4% and 13%, respectively.
In the Financial Business segment, which includes PayPay Corporation and SB Payment Service Corp., FY2025 H1 revenue was up by 24% YoY at 189.7 billion JPY and operating income reached 38.5 billion JPY, a 116% YoY increase and more than double the amount registered in the previous fiscal year. The increase was driven by a 100% YoY increase in PayPay’s consolidated EBITDA.
Advancing Next-generation Social Infrastructure initiatives
In the latter part of his presentation, Miyakawa gave an update on SoftBank’s progress toward building “Next-generation Social Infrastructure.” He highlighted three key initiatives from SoftBank’s Sovereign Cloud and Sovereign AI initiatives:
- “Cloud PF Type A” sovereign cloud service
- “Sarashina mini” service for enterprises based on homegrown LLMs
- “AI Data Center GPU Server”
For the first, Miyakawa explained that SoftBank is collaborating with Oracle Corporation to provide secure, compliant, and scalable sovereign AI and cloud solutions to organizations in Japan. From April 2026, he said SoftBank will launch Cloud PF Type A, a suite of proprietary cloud and AI services powered by the Oracle Alloy cloud infrastructure platform.
Turning to homegrown large language models (LLMs), Miyakawa said that SoftBank and its subsidiary SB Intuitions will start providing Sarashina API, a service that enables enterprise customers to connect to the "Sarashina mini" homegrown LLM on November 28, 2025.
While SoftBank previously used its AI computing infrastructure for internal purposes, Miyakawa noted that external sales commenced with the launch of the “AI Data Center GPU Server” cloud-based service. Three different plans are also being offered to support the development of AI startups in Japan based on the stage of their business, he added.
Launch of “Crystal intelligence” planned for 2026
At the end of his presentation, Miyakawa revealed that SB OAI Japan, a joint venture between SoftBank Corp., SoftBank Group Corp. and OpenAI, was launched on November 5, 2025. The joint venture will market “Crystal intelligence”—a packaged enterprise AI solution that integrates OpenAI’s latest products with tailored implementation and system integration services—exclusively to enterprise customers in Japan.
“We're making steady progress with the goal of launching the service next year. I believe it will be one of our promising seeds for growth in the coming years,” he said.
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More info |
Presentation material (PDF: 8.60MB/45 pages) Supplementary materials: Overview of SoftBank (PDF: 1.81MB/23 pages) |
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(Posted on November 5, 2025)
by SoftBank News Editors
