SoftBank Results Presentation Deck
Adjustment for Asset-backed Finance
in LTV and NAV Calculation
Non-recourse asset-backed finance is deducted from debt.
Value of assets required for settlement is deducted from assets
Main shares
used
Nature
Amounts
deducted
from debt
Amounts
deducted
from assets
If share
price falls
Alibaba
●
Funding through variable
prepaid forward contracts
(non-recourse to SBG)
●
●
1
●
Collar/Forward/Put
transactions
●
*1
Carrying amount on BS
Fixed regardless of the share
price
Estimated settlement amount
at maturity based on the
quarter-end share price
Fluctuates depending on the
share price
Settlement amount
decreases if the share price
falls below the floor price
Neither additional collateral
or prepayment are required
SBKK, Arm
Funding by pledging shares as
collateral
(non-recourse to SBG)
●
●
2 Margin loan, etc.
●
Equivalent to the value of assets
required for repayment (amount
of debts recorded on BS)
●
Carrying amount on BS
Fixed regardless of the share
price
Additional collateral and/or
prepayment is required if the
share price falls below a certain
level
Total repayment amount is
fixed
(Note) As of Jun 30, 2023
*1 Contracts to buy or sell shares at a pre-agreed price (forward) or a price range (collar/put) at maturity
(2
23.8
5.2
1.7
16.9
Asset-backed
finance
¥6.9T
Equity value of holdings
2
=SoftBank
Used for
LTV and NAV calculation
8.9
5.7
1.7
1.4
Net debt
Group
(\ T)
Asset-backed
finance
¥7.4T
Hybrid finance
¥0.1T
Finance 38View entire presentation