SoftBank Results Presentation Deck
Investment Track Record
(¥T)
Alibaba
MOIC 1,339x
+¥9.8T
9.8
¥7.4B
Investment Return
Equity
value
Sprint/
T-Mobile Deutsche Telekom
MOIC 7.2x
+¥2.5T
2.1
1.7
4.6
1.7
2.9
0.4
Investment Return
Borrowings
Equity
value
Borrowings
Arm
MOIC 3.2x
+¥5.2T
3.3
1.0
2.3
8.5
1.0
7.5
Investment Return
arm
Arm's success
is on par with
our past large
investments
Equity day or valuation date.
value
Further growth
expected
The amounts of investment and return are calculated using forex rates on each transaction
■ MOICs are calculated based on equity return gained from the initial investment to Sep 30,
2023 and before tax considerations.
.
■ Investment amount is net of costs related to the transactions. The investment amount in
Arm does not reflect the impact of intra-group transactions between SBG and SVF.
■ Return amount
Alibaba: Sum of (i) the amount realized from the sale of and through derivative transactions
using Alibaba shares, net of transaction costs, and (ii) equity value of holdings as of Sep 30,
2023, calculated by multiplying the number of the shares held by SBG by the last available
closing share price for Sep 2023
• Sprint/T-Mobile and Deutsche Telekom: Equity value is the sum of (a) to (d) below, net of
borrowings.
(a) The amount realized from the sale of T-Mobile shares and through derivative
transactions using T-Mobile shares and Deutsche Telekom shares. Net of transaction costs
(b) Equity value of holdings as of Sep 30, 2023, calculated by multiplying the number of the
shares held by SBG by the last available closing share price for Sep 2023. Net of amounts
already funded through derivative transactions
(c) Fair value of contingent consideration (SBG's right to acquire 48,751,557 T-Mobile
shares for no additional consideration if 45-day trailing VWAP of T-Mobile share $149.35
during Apr 1, 2022 to Dec 31, 2025)
(d) The amount of dividends received from Deutsche Telekom shares
• Arm: Equity value is the sum of (i) the amount realized from the sale of Arm shares, net of
transaction costs, and (ii) equity value of holdings as of Sep 30, 2023, calculated by
multiplying the number of the shares held by SBG by the last available closing share price
for Sep 2023, net of borrowings.
■ Borrowings are the amount of funds raised in JPY for the acquisition.
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