SoftBank Results Presentation Deck
LTV Calculation:
Details of SBG Stand-alone Equity Value of Holdings (2/2)
Assets
(g) T-Mobile
Before adjustment
Adjustment for
asset-backed finance
(h) Deutsche Telekom
Before adjustment
Adjustment for
asset-backed finance
(i) Others*1
Adjusted SBG stand-alone
equity value of holdings
Value Calculation method
1.27
-0.43
0.23
0.71
-0.48
summing
- Value of SBG's shareholding (incl. the number of shares subject to call options held by Deutsche Telekom (DT):
1.70 34,971,809 shares as of Sep 30, 2023) × the share price
- Fair value of SBG's right to acquire 48,751,557 T-Mobile shares for no additional consideration under
certain conditions
minus
- Balance of derivative financial liabilities related to unexercised call options held by DT
- Maturity settlement amount of the prepaid forward contracts (collar contracts) using T-Mobile shares
(calculated by using the company's share price) (¥428.0B)
1.73
SoftBank
18.35 Sum of (a) through (i) on Finance pages 46 and 47
Number of DT shares held by SBG x the share price
Deducting maturity settlement amounts of collar transactions using DT shares executed in Oct 2021 (¥480.6B)
Listed shares: multiplying the number of shares held by SBG by each share price
Unlisted shares: fair value (the carrying amount in SBG's balance sheet for those not measured at FVs) of shares,
etc. held by SBG
SB Northstar: SBG's share of SB Northstar's NAV plus the value of NVIDIA Corporation shares held by SBG
multiplied by its share price
Group
(¥ T)
(Note) As of Sep 30, 2023
*1 SB Northstar's cash and cash equivalents and interest-bearing debt, other than margin loans and prime brokerage loans, are treated as net interest-bearing debt of SBG and not
included in the calculation of SB Northstar's NAV. There is no balance of margin loans and prime brokerage loans of SB Northstar as of Sep 30, 2023.
Finance 47View entire presentation