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Who We Are

Message from Our CEO

Growth Assets

Management: The Foundation Supporting Our Growth

Introducing the SoftBank Group Report—Sharing our 志 kokorozashi

We are happy to introduce our first SoftBank Group Report. This new report combines
non-financial context with financial information and is designed to further boost ourengagement with stakeholders. It also tells the story of our 志 kokorozashi (mission).
The term originated in Japanese samurai culture and represents the spirit of societal
improvement over individual pursuits and symbolizes our desire to use our strengths
to help and serve other people. To that end, throughout this report, we will shed more
light on our investing activities, strategy, and business model.

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Financial Section

Corporate Information

Table of Contents

Who We Are

Message from Our CEO

Growth Assets

Management: The Foundation Supporting Our Growth

Financial Section

Corporate Information

This is not the first time we have revamped our reports
to include more non-financial information, such as details
about our corporate governance and sustainability
initiatives.
Back in 2010, we unveiled the “SoftBank’s Next 30-YearVision” to further clarify our unwavering commitment toour founding philosophy, expressed in the philosophy,
Information Revolution—Happiness for everyone. Morerecently, we started describing ourselves as a Vision
Capitalist for the Information Revolution to underscore ourrole as a strategic investment holding company.
The SoftBank Group Report is the latest in this series ofefforts. The new format presents our corporate story,
showing how our strategy and business model will deliver
our core philosophy and vision, how we will build value,and how we will enable 300 years of sustained growth.

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Who We Are

Message from Our CEO

Growth Assets

Management: The Foundation Supporting Our Growth

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Corporate Information

Information Revolution—Happiness for everyone.
Since its founding, SBG has always remained true to its goal ofaccelerating the Information Revolution to make the world ahappier place.
Just what is happiness?
Some might say happiness is to love and be loved in return,or to make the most of each day. Others might derivehappiness from self-expression. Still, others might findhappiness in something as simple as a smile. Above all, SBG
equates happiness with inspiration. Through our business, westrive to bring emotional meaning and happiness to lives. In
everything we do, we aim to drive the Information Revolution
and build a more connected, empowered, and joyful world.
This unchanging kokorozashi (mission) is encapsulated in ourphilosophy, Information Revolution—Happiness for everyone.
Humankind stands on the cusp of the digital Big Bang.
Computing performance is increasing dramatically, and weare getting ever closer to an age of super-intelligent machinesthat will surpass human ability. Our mission is to harness theraw, unlimited power of the Information Revolution andchannel it in a direction that makes people happier. Thisaspiration will continue to drive our organization towardfurther growth for many years to come.

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Our Unchanging 志 Kokorozashi (Mission),Ever-Changing Areas of Investment

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Growth Assets

Management: The Foundation Supporting Our Growth

Financial Section

Corporate Information

Information Revolution—Happiness for Everyone
A two-line design—the banner of the Information Revolution that SBG
hoists as we sail toward a new dawnKaientai banner

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SoftBank Brand Symbol

Imagine a group of visionaries who share thesame unshakable spirit (kokorozashi). They act
with one mind to achieve their ideals, braving
all dangers to usher in a new era in an ageof upheaval. SBG draws inspiration from one
such group—the Kaientai, an enterprisingshipping company founded in 1865 by thevisionary Sakamoto Ryoma. Supplied with thebest intelligence and possessing abundant
knowledge and wisdom, the Kaientai and its
founder rejected age-worn feudalistic values infavor of free thinking and bold action. In thisway, they led a revolution that resulted in themodernization of Japan. Our corporate logo
derives from the Kaientai’s flag. It represents
our admiration for, and belief in, the Kaientai’ssingle-minded pursuit of their vision, which
imagined a Japan 100 years in the future.
SoftBank Group is a fleet of similarly visionary
crusaders. Our vessels fly the banner of the21st-century Kaientai, symbolizing our own
single-minded pursuit of a vision: Information
Revolution—Happiness for everyone.

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Our Vision for a Better World
Help shape the next 300 years for our future
generations and for the planet
To realize our core philosophy and vision, we invest in the Information Revolution.
The Information Revolution has entered a new stage with the use of AI, which has
the potential to create a safer, more prosperous, and all-round better future byaddressing social and environmental challenges, including climate change,
the education gap, and economic inequality.
SBG is a Vision Capitalist for the Information Revolution, and in this role we arehelping to realize the world we have envisioned since our founding.

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Management: The Foundation Supporting Our Growth

Financial Section

Corporate Information

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Message from Our CEOGrowth Assets

Management: The Foundation Supporting Our Growth

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Autonomous driving for safer roads
Imagine a world of self-driving carsthat travel to the destination without
human input, a world where self-driving
technology prevents road accidents
by sensing blind spots and monitoring
hazardous situations, enabling anyone togo from A to B with peace of mind.

Imagine a world where wecan predict and prevent any
disease using AI-driven genetic
data analysis, a world whereAI accelerates the search for
drug candidates, enabling early
treatment.

Using AI to cure deadly diseases
Remote learning for educational equality
Imagine a world where all
children can access a better
education regardless of placeof birth, a world where remotelearning programs are available
everywhere, offering quality
education to all.

Imagine a world of seamless
commerce where business
transactions defy borders,a world of universal
connectivity where all canaccess online content.

An enriched life for all

More creativity at work
Imagine a world whereworkplaces are more humancentric and full of authentic,
life-affirming experiences, aworld where AI automates
mundane and monotonous tasks,
freeing up time for more creative
pursuits.

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Imagine a world where
technological innovation makes
renewable and clean energy
ubiquitous, a world where wehave the technology to reverse
climate change and safeguard
biodiversity.

Technological solutions to environmental issues

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Management: The Foundation Supporting Our Growth

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A Business Model with Three Inputs
SBG Is a Vision Capitalist Driving the Information
Revolution
Building an ecosystem of industry-leading businesses aiming togrow for the next 300 years

1SoftBank Group =A Vision Capitalist driving
the Information Revolution

SBG describes itself as a Vision Capitalist for theInformation Revolution. What exactly does this mean?
It means providing capital to promising companies,
with a focus on unicorns that contribute to theInformation Revolution and a happy future for all.
Our companies have innovative ideas and can solve
social issues and make people happier by offering truly
world-changing goods and services. 		
By providing them with capital, we, as a Vision
Capitalist for the Information Revolution, accelerate
their business growth and unleash the potential of ourcore philosophy and vision: Information Revolution—
Happiness for everyone.

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2Cluster of No. 1 strategy

Our Cluster of No. 1 strategy is designed to build a strategicallysynergized ecosystem of companies. The strategy envisages thisgroup as a symbiotic ecosystem of companies with industryleading technologies and business models.
Although we collaborate with our portfolio companies
to help inform their decision-making, we also respect theirautonomy and we need not hold a majority stake. We seek toalign ourselves with the entrepreneurs who are founding thecompanies of tomorrow and defining new industries. However,
we encourage our members to identify with our core philosophy
and vision and to collaborate with us to unlock synergistic growth.
Under this strategy, we have developed an ecosystem ofentrepreneurial leaders in AI. These include some 500 portfolio
companies within the SoftBank Vision Funds and other funds.
They also include our subsidiaries and Group companies inwhich we have invested in directly, such as Arm.

3Three inputs andsustainable growth

When a company invests capital into business activities,
new value can be generated that exceeds the initial
capital commitment. The company will then reinvest thatcapital for an even higher return. Through thisreproduction on an expanded scale, capital keeps
accumulating, generating sustainable growth.
We have three key sources of capital: an ecosystem of
portfolio companies, financial capital, and human capital.
This capital is both an input and output. In
implementing our business model, we “input” capital,
and this capital is then “output” back to us in an amountlarger than the initial input.

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Management: The Foundation Supporting Our Growth

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Three Inputs
As a strategic investment holding company, we aim for sustainable growth byboth perpetuating and accumulating our three capital inputs.

Ecosystem of portfolio
companies
This input is the ecosystem of some 500
portfolio companies and subsidiaries thatwe have developed in line with our Clusterof No. 1 strategy.
Members of this ecosystem pursue
growth independently, but in doing sothey produce a stream of innovation
and unleash synergies that enable theecosystem to grow as one.

Financial capital

Human capitalThis input refers to the financial assets thatfund our investments. We aim to grow ourfinancial assets over the medium to longterm realizing high returns on investments
and then reinvesting the profits.
We measure the growth of our financial
capital using Net Asset Value (NAV).* Our
NAV has grown over a medium- to longterm perspective in line with ourinvestments and other activities. We aim togrow it even bigger.

This input is our talent. It includes ourinvestment professionals who identify
attractive investment opportunities. It
also includes finance and accounting
staff, legal and compliance experts, andmany other employees who support ouractivities.
Our human capital grows as ourdiverse pool of employees pursue theirown professional development while
increasingly aligning themselves with
our unique company culture, whichemphasizes decisiveness and dedication.

*NAV = Equity value of holdings – Net debt
See page 18 for the detailsof NAV.

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Message from Our CEO

Growth Assets

Management: The Foundation Supporting Our Growth

Financial Section

Corporate Information

Our 志 Kokorozashi (Mission) Is Consistent
Our Investment Areas Continue to Evolve
Our history’00 S’90 S’80 S
1994Founded SoftBank Holdings Inc. in the U.S. for thepurpose of strategic investment in Internetcompanies
2000
Invested in Alibaba
1981Founded as a distributorof packaged softwarefor PCs

1982
Launched a publishing business
1996
Launched Yahoo! JAPANInternetPC Software

10

SoftBank Group Report 2022

2001
Launched broadband service,Yahoo! BB2004
Acquired JAPAN TELECOM
and entered fixed-line
telecommunications

2006
Acquired Vodafone K.K. and entered mobile
telecommunications in Japan

MobileBroadband

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Our story begins in 1981, when Masayoshi Son foundedManagement: The Foundation Supporting Our Growth

Financial Section

Corporate Information

The Information Revolution has now entered another new

SOFTBANK Japan. He envisaged the company as a “software

phase, with AI completely redefining every industry. We investbank” that would build infrastructure for the information-in AI businesses with world-changing ideas. The aim of suchdriven society. At the time, PC software was the keystone ofinvestments is to accelerate groundbreaking technologicalthe Information Revolution. The keystone later shifted to theinnovations that can build a more connected, empowered,Internet, then to broadband, followed by smartphones. We

and joyful world. Believing that the next few decades of AI

have always stood on the frontlines of such shifts. Adjusting

innovation will surpass all the technological progress of the lastswiftly to market or industry changes, we have always

three centuries, we work with entrepreneurs around the world

partnered with the paradigm-defining companies of the time

who share our aspiration to forge this exciting future.

and redeployed capital into new investment areas.

’20 S

’10 S

2019
Launched SVF2

2017
Launched SVF1
2010
Announced the “SoftBank’s Next 30-YearVision”

2013
Acquired U.S.-based carrier
Sprint2016
Acquired U.K. chip designer Arm

Data and AI

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2020
Sprint and T-Mobile merged

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SoftBank’s Next 30-Year Vision:
A Story of Value Creation
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Management: The Foundation Supporting Our Growth

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Ecosystem of portfolio
companies
Build an ecosystem of companies
with industry-leading technologies
and business models

Message from Our CEO

Growth Assets

Management: The Foundation Supporting Our GrowthCore philosophy
Information Revolution—Happiness for everyone

Financial Section

Corporate Information

The world in 30 years’ time
Technological innovations
More happiness, less sadnessVisionFinancial outcomes

To become the world’s mostessential corporate groupContinued growthin Net Asset Value (NAV)

Human capital

StrategyManaging global risks

Professionalism anda unique company culture

Strategic synergy group

The next 300 years for our future
generations and for the planet

Financial capital
A diverse funding toolbox

Sustainable development is an imperative for businesses. Companies are expected
not to just make short-term profits but also to create social value for stakeholders.
In 2010, we unveiled the “SoftBank’s Next 30-Year Vision,” which looks
100 years into the future. Five years later, the UN adopted the 17 Sustainable
Development Goals. Thus, even before the sustainable development agenda took
off, we already had our own sustainability-focused philosophy and vision in place.
We were also already integrating this philosophy and vision into our strategy andbusiness model.
Announcement of the “SoftBank’s Next 30-Year Vision” (2010)13SoftBank Group Report 2022