2024年3⽉期 決算データシート
Data Sheet for the Fiscal Year Ended March 31, 2024
ソフトバンクグループ株式会社
SoftBank Group Corp.

連結業績 補⾜データ

Supplemental Consolidated Results Data

■ 連結業績概要

■ Consolidated Results Summary■ 持株会社投資事業■ Investment Business of Holding Companies Segment■ ソフトバンク・ビジョン・ファンド事業■ SoftBank Vision Funds Segment■ SVF1 エグジット前の投資の内訳（公開／未公開別）■ SVF1 Investments Before Exit by Public/Private■ SVF2 エグジット前の投資の内訳（公開／未公開別）■ SVF2 Investments Before Exit by Public/Private■ SVF1&2 エグジット前の投資の内訳（セクター別）■ SVF1&2 Investments Before Exit by Sector■ SVF1 投資先⼀覧■ SVF1 Portfolio■ SVF2 投資先⼀覧■ SVF2 Portfolio■ SVF1&2 投資先の株式公開実績・予定■ Stock Offerings/Offering Plans for SVF1&2 Portfolio Companies■ LatAmファンド 投資先⼀覧■ LatAm Funds Portfolio■ ソフトバンク事業■ SoftBank Segment■ アーム事業／KPI■ Arm Segment / KPIs

■ その他

■ Other

ソフトバンクグループ㈱単体の財務情報

Financial Information of SBG Standalone■ NAVとLTV■ NAV and LTV■ LTV計算（2024年3⽉末）■ LTV Calculation as of March 31, 2024

■ NAVとLTVの定義■ Definition of NAV and LTV■ 債務返済スケジュール■ Debt Repayment Schedule■ 社債・コマーシャルペーパー明細■ Corporate Bonds and Commercial Paper Details-1-連結業績概要 | Consolidated Results Summary（監査前 | Unaudited）

FY2022

FY2023年度 |Full year

Q1

Q2

Q3

1,694,666

6,570,439

1,557,507

1,669,553

1,774,841

1,754,599

6,756,500

857,794

748,919

3,328,042

832,075

900,242932,864

877,2113,542,392

1,984,842-511,568

526,107-835,059-698,957-264,598

424,606-20,401-559,350

111,223

3,413,432

174,945

860,900

4,560,500-689,697

276,167-169,898

124,383-459,045-2,919,130-1,434,412-653,213-315,510-5,322,265-13,043-570,239

531,288-115,296-167,290-26,533

5,822-33,300-19,283-73,294

3,783

29,474

63,216-29,488

66,985

販売費及び⼀般管理費 | Selling, general and administrative expenses-626,513-627,827-666,775-774,213-2,695,328-648,080-705,992-769,519-858,792-2,982,383

財務費⽤ | Finance cost

-114,139-200,078-119,291-122,394-555,902-139,601-155,583-131,612-129,208-556,004

為替差損益 | Foreign exchange gain (loss)-819,969-275,457

367,442-44,286-772,270-464,642-183,444

339,884-394,920-703,122

持分法による投資損益 | Income (loss) on equity method investments-158,370

103,500-15,741-26,066-96,677-18,319-16,301-2,491-1,530-38,641

デリバティブ関連損益（投資損益を除く）|
Derivative gain (loss) (excluding gain (loss) on investments)-259,250

1,289,030-410,193-565,331

54,256

849,629-147,911

478,548

322,060

1,502,326

SVFにおける外部投資家持分の増減額 |Change in third-party interests in SVF

631,367

387,374

127,038-17,830

1,127,949-58,081-168,184-152,132-11,740-390,137

5,068

86,169-211,379

96,004-24,138

169,782

10,54051,352

11,046

242,720

税引前利益 | Income before income tax-3,292,455

3,585,091-582,673-179,090-469,127-176,194-731,231

1,171,500-206,274

57,801

純利益 | Net income-3,096,321

3,082,759-744,678-31,561-789,801-316,194-788,959

985,475

328,895

209,217

親会社の所有者に帰属する純利益 |Net income attributable to owners of the parent-3,162,700

3,033,602-783,415-57,631-970,144-477,616-931,111

950,004

231,077-227,646

営業活動によるキャッシュ・フロー | Cash flows from operating activities

140,805

414,715

169,326

16,446741,292-172,574

261,341

60,940100,840

250,547

投資活動によるキャッシュ・フロー | Cash flows from investing activities

286,098-14,804

191,918

84,366

547,578-307,791-459,585-151,802

77,717-841,461

財務活動によるキャッシュ・フロー | Cash flows from financing activities

175,926-754,254-297,550

1,067,395

191,517529,565-542,232-251,914-341,641-606,222（百万円 | Millions of JPY）

売上⾼ | Net sales
売上総利益 | Gross profit
投資損益合計 | Total gain on investments
持株会社投資事業からの投資損益 |Gain (loss) on investments at Investment Business of Holding Companies
SVF事業からの投資損益 |Gain (loss) on investments at SoftBank Vision Funds
その他の投資損益 | Gain (loss) on other investments

その他の損益 | Other gain (loss)

Q1

Q2

Q3

1,572,030

1,610,447

1,693,296

883,791

837,538-2,834,440

-2-

Q4

Q4

年度 |
Full year

持株会社投資事業 | Investment Business of Holding Companies Segment（監査前 | Unaudited）

FY2022

FY2023年度 |Full year

Q1

Q2

Q3

Q4

年度 |
Full year

Q1

Q2

Q3

Q4

111,233

3,413,475

175,008

860,852

4,560,568-689,697

276,167-169,898

124,383-459,045

アリババ株式先渡売買契約決済関連利益 |Gain relating to settlement of prepaid forward contracts using Alibaba shares

97,2634,740,988--

4,838,251

-

-

-

-

-

Tモバイル株式売却関連損益 |Gain relating to sales of T-Mobile shares

24,842---

24,842

-

-

-

-

-

7,176

-61,402-15,678-4,046-73,950-59-88,283-2,343

325-90,360-69,479

10,676-4,012-4,238-67,054906

29,097

3,248-20,559

12,692-5,246

-596

846

-106

-5,102

18

-814

10

-6

-792

-400

-147,266-90,193

2,242-235,617

17,686-12,197-23,822-20,096-38,429

投資の未実現評価損益 |Unrealized gain (loss) on valuation of investments-27,605-1,142,854

213,163

813,098-144,198-620,356

306,585-448,793

150,937-611,627

投資に係るデリバティブ関連損益 |Derivative gain (loss) on investments

73,60912,92469,001

49,972

205,506-97,024

30,529291,887658

226,050

為替換算影響額 |Effect of foreign exchange translation

-

-

-

-

-

-

6,532

-

-

6,532

11,073

1,005

1,881

3,930

17,890

9,132

4,718

9,915

13,12436,889

販売費及び⼀般管理費 | Selling, general and administrative expenses-16,657-14,005-13,537-29,597-73,796-19,633-21,862-26,544-21,246-89,285

財務費⽤ | Finance cost

-80,029-160,610-76,563-81,339-398,541-97,256-112,386-136,361-127,808-473,811

為替差損益 | Foreign exchange gain (loss)-822,035-278,108374,787-46,697-772,053-466,107-184,024

343,456-396,763-703,438

持分法による投資損益 | Income (loss) on equity method investments-139,782

115,903

-829

1,872

-22,836-1,581-2,481

2,859

3,107

1,904

デリバティブ関連損益（投資損益を除く）|
Derivative gain (loss) (excluding gain (loss) on investments)-244,986

1,286,487-410,386-565,383

65,732

848,775-148,389

478,445

321,184

1,500,015-5,797

97,200-179,002

78,371-9,22830,95944,26345,4385,474

126,134-1,198,053

4,460,342-130,522

218,079

3,349,846-394,540-148,712

537,395-91,669-97,526（百万円 | Millions of JPY）

持株会社投資事業からの投資損益 |Gain (loss) on investments at Investment Business of Holding Companies

資産運⽤⼦会社からの投資の実現損益*1 |Realized gain (loss) on investments at asset management subsidiaries*1
資産運⽤⼦会社からの投資の未実現評価損益*1 |Unrealized gain (loss) on valuation of investments at asset management
subsidiaries*1
資産運⽤⼦会社からの投資に係るデリバティブ関連損益*1 |Derivative gain (loss) on investments at asset management subsidiaries*1
投資の実現損益 |Realized gain (loss) on investments

その他 | Other

その他の損益 | Other gain (loss)
セグメント利益（税引前利益） |Segment income (income before income tax)
*1 資産運⽤⼦会社︓SB Northstarおよびその⼦会社
Asset management subsidiaries indicate SB Northstar and its subsidiaries.

-3-

ソフトバンク・ビジョン・ファンド事業 | SoftBank Vision Funds Segment（監査前 | Unaudited）

FY2022（百万円 | Millions of JPY）

SVF事業からの投資損益 | Gain (loss) on investments at SoftBank Vision Funds
SVF1、SVF2およびLatAmファンドからの投資損益 |Gain (loss) on investments at SVF1, SVF2, and LatAm Funds
投資の実現損益 | Realized gain (loss) on investments *2
SVF1
SVF2
LatAm Funds
投資の未実現評価損益 | Unrealized gain (loss) on valuation of investments *2
SVF1
当期計上額 | Change in valuation for the fiscal year
過年度計上額のうち実現損益への振替額 |Reclassified to realized gain (loss) recorded in the past fiscal years
SVF2
当期計上額 | Change in valuation for the fiscal year
過年度計上額のうち実現損益への振替額 |Reclassified to realized gain (loss) recorded in the past fiscal years
LatAm Funds
当期計上額 | Change in valuation for the fiscal year
過年度計上額のうち実現損益への振替額 |Reclassified to realized gain (loss) recorded in the past fiscal years
投資先からの利息及び配当⾦ |Interest and dividend income from investments

Q1

Q2

FY2023

Q3

Q4

年度 |
Full year

Q1

Q2

Q3

Q4

年度 |
Full year-2,933,845-1,378,497-730,357-236,795-5,279,494

159,773

21,363600,732-57,527

724,341-2,935,030-1,381,173-731,938-250,317-5,298,458

134,703

33,763576,814-49,019696,261-26,72232,12041,642

31,57678,616-68,179

923,948

79,22649,414984,409-30,466
3,257
487

33,757-2,466829

44,857-3,486271

33,565-804-1,18581,713-3,499402-86,940
19,713-952

1,004,706-80,741-17

93,577-17,2212,870

60,861-32,959
7,602

1,072,204-111,208
9,503-2,915,895-1,387,185-717,438-246,752-5,267,270

212,237-846,419

525,545-36,198-144,835-1,260,869-703,089-365,161

54,648-2,274,471

230,999-580,071

226,630

5,991-116,451-1,215,309-630,217-300,022

179,086-1,966,462

124,055-422,115

223,079-2,712-77,693-45,560-72,872-65,139-124,438-308,009

106,944-157,956

3,551

8,703

-38,758-1,329,634-635,288-282,302-203,431-2,450,655-66,958-251,889

260,727-21,184-79,304-1,341,008-639,744-284,989-204,576-2,470,317-50,303-317,834

242,441-52,809-178,505

11,374

4,456

2,687

1,145

19,662-16,655

65,94518,286

31,62599,201-325,392-48,808-69,975-97,969-542,144

48,196-14,459

38,188-8,207

63,718-325,155-48,807-70,039-97,811-541,812

47,135-14,459

42,462-7,911

67,227

-237

-1

64

-158

-332

1,061

-

-4,274-296-3,509

415

344

431

322

1,512

1,491

19,321459

397

21,668

投資に係るデリバティブ関連損益 | Derivative gain (loss) on investments

37,650-1,285-20,174-1,654

14,537

2,453

1,974

-1,558-10,206-7,337

為替換算影響額 | Effect of foreign exchange translation-30,478-25,167-36,399-33,809-125,853-13,299-65,061-26,858-52,426-157,644

1,185

2,676

1,581

13,522

18,96425,070-12,400

23,918-8,50828,080

販売費及び⼀般管理費 | Selling, general and administrative expenses

その他の投資損益 | Gain (loss) on other investments-18,904-12,079-22,201-12,815-65,999-18,299-26,389-19,353-20,945-84,986

財務費⽤ | Finance cost

-15,401-20,394-23,279-22,107-81,181-23,628-28,904-11,991-9,799-74,322

499

121

245

42

907

-

-

-

-

-

631,367

387,374

127,038-17,830

1,127,949-58,081-168,184-152,132-11,740-390,137

デリバティブ関連損益（投資損益を除く）|
Derivative gain (loss) (excluding gain (loss) on investments)
SVFにおける外部投資家持分の増減額 | Change in third-party interests in SVF
その他の損益 | Other gain (loss)
セグメント利益（税引前利益）| Segment income (income before income tax)

5,534

3,571

-11,542-8,036-10,473

1,276-56,750

5,487

3,270

-46,717-2,330,750-1,019,904-660,096-297,541-4,308,291

61,041-258,864

422,743-96,741

128,179*1 SVFによる当社⼦会社（主にアーム、PayPay㈱）への投資に係る投資損益は、ソフトバンク・ビジョン・ファンド事業のセグメント利益において「SVF事業からの投資損益」に含まれるが、連結上消去し、連結業績概要の「SVF事業からの投資損益」には含まれない
Gains and losses on SoftBank Vision Fundsʼ investments in shares in the Companyʼs subsidiaries (mainly Arm and PayPay Corporation) are included in the segment income of the SoftBank Vision Funds segment as "Gain (loss) on at SoftBank Vision Funds" but are eliminated in consolidation and
not included in "Gains (loss) on investments at SoftBank Vision Funds" in the Consolidated Results Summary.
*2 SVF1とSVF2のファンド間取引による調整額が含まれているため、内訳の計と合計は⼀致しない
The total and the sum of the breakdown do not match due to adjustments included for inter-fund transactions between SVF1 and SVF2.

-4-

SVF1 エグジット前の投資（当期末に保有する投資）の内訳 （公開／未公開別）|
SVF1 Investments Before Exit by Public/Private (Investments Held at the Fiscal Year-end)
銘柄数 |# of investments

公正価値 |
Fair value(B)

累計損益 |
Cumulative gain/loss(B) - (A)FY2023 Q4（⼗億⽶ドル | Billions of USD）

未実現評価損益計上額 |Unrealized valuation gain/loss recorded
FY2023
累計 | YTD

FY2023 Q4

合計 | Total

68

51.6

39.9

-11.7

-0.1

-0.6

公開投資先 | Public companies

21

26.4

16.0

-10.4

0.1

0.3

Coupang, Inc.

1.7

6.2

4.5

0.6

0.6

DiDi Global Inc.*3
Grab Holdings Inc.

12.1

3.7

-8.4

-0.1

0.0

1.8

1.3

-0.5

-0.1

0.1

Full Truck Alliance Co. Ltd.

1.3

1.1

-0.2

0.0

-0.1

DoorDash, Inc.

0.1

0.9

0.8

0.2

0.5

Roivant Sciences Ltd.

0.7

0.8

0.1

-0.1

0.2

Delhivery Limited

0.2

0.4

0.2

0.1

0.1

PT GoTo Gojek Tokopedia Tbk

1.0

0.4

-0.6

-0.1

-0.3

Compass, Inc.

0.8

0.4

-0.4

-0.0

0.0

Relay Therapeutics, Inc.

0.3

0.2

-0.1

-0.1

-0.2

Auto 1 Group SE

0.7

0.2

-0.5

-0.1

-0.1

Vir Biotechnology, Inc.

0.1

0.2

0.1

0.0

-0.2

SenseTime Group Inc.

0.4

0.1

-0.3

-0.1

-0.3

Aurora Innovation Inc.

0.3

0.1

-0.2

-0.1

0.1

One97 Communications Limited (Paytm)

0.1

0.0

-0.1

-0.0

-0.0

Energy Vault, Inc.

0.0

0.0

-0.0

-0.0

-0.0

Ginkgo Bioworks Holdings, Inc.

0.0

0.0

-0.0

-0.0

-0.0

Getaround, Inc.

0.3

0.0

-0.3

0.0

0.0

View Inc.*4
OneConnect Financial Technology Co., Ltd.

1.2

0.0

-1.2

-0.0

-0.0

0.1

0.0

-0.1

-0.0

-0.0

3.2

-

-3.2

-

-0.1

25.2

23.9

-1.3

-0.2

-0.9

WeWork Inc.*3
未公開投資先 | Private companies
*1

投資額 |
Investment cost(A)

47

公開投資先は証券取引所および店頭市場で取引される株式を、未公開投資先は公開投資先に該当しない投資先を指す。投資先の公開／未公開の区分は、FY2023Q4末時点の状態に基づく
Public portfolio companies are shares traded on stock exchanges or over-the-counter markets, while private portfolio companies are those not classified as public. The distinction between public and private portfolio
companies is determined by their status as of the end of FY2023Q4.

*2

各項⽬の⾦額は、単位未満を四捨五⼊しているため、内訳の計と合計は必ずしも⼀致しない
The total and the sum of the breakdown in the table may not match due to rounding each item to the nearest unit.

*3

店頭市場取引銘柄。なお、WeWork株式の帳簿価額は0⽶ドルまで引き下げている
Traded in the over-the-counter market. The carrying amount of WeWork stocks has been written down to zero U.S. dollars.

*4

2024年4⽉5⽇に店頭取引市場に移⾏
Transferred to the over-the-counter market on April 5, 2024.

-5-

SVF2 エグジット前の投資（当期末に保有する投資）の内訳 （公開／未公開別）|
SVF2 Investments Before Exit by Public/Private (Investments Held at the Fiscal Year-end)☆: 共同出資プログラムの対象外の投資 | Investments outside of the co-investment program

銘柄数 |# of investments

投資額 |Investment cost(A)

累計損益 |
Cumulative gain/loss(B) - (A)

公正価値 |
Fair value(B)

FY2023 Q4（⼗億⽶ドル | Billions of USD）

未実現評価損益計上額 |Unrealized valuation gain/loss recorded
FY2023
累計 | YTD

FY2023 Q4

合計 | Total

272

49.4

29.9

-19.5

-0.3

-1.2

公開投資先 | Public companies

16

8.6

4.0

-4.6

-0.4

-1.0

AutoStore Holdings Ltd.

2.8

2.4

-0.4

-0.2

-0.4

Symbotic Inc.

0.2

0.9

0.7

-0.1

0.4

0.2

0.1

-0.1

0.0

-0.0

Exscientia PLC

0.3

0.1

-0.2

-0.0

0.0

Neumora Therapeutics, Inc.

0.1

0.1

0.0

-0.0

0.0

0.5

0.1

-0.4

-0.0

-0.1

0.1

0.1

-0.0

-0.0

-0.0

☆ Better Holdco Inc.

0.5

0.1

-0.4

-0.0

-0.0

☆ IonQ, Inc.

0.1

0.1

0.0

-0.0

0.0

0.1

0.0

-0.1

-0.0

-0.0

☆ Full Truck Alliance Co. Ltd.

☆ JD Logistics, Inc.
Qingdao AInnovation Technology Group Co., Ltd.

Beisen Holding Limited

0.2

0.0

-0.2

-0.1

-0.1

☆ DingDong (Cayman) Limited

Keep Inc.

0.3

0.0

-0.3

-0.0

-0.0

☆ Seer, Inc.

0.2

0.0

-0.2

-0.0

-0.0

0.0

0.0

0.0

-0.0

0.0

0.0

0.0

-0.0

0.0

-0.0

Globalstar, Inc.
☆ Pear Therapeutics, Inc.*3☆ WeWork Inc.*3
未公開投資先 | Private companies*4

256

3.0

-

-3.0

-

-0.8

40.8

25.9

-14.9

0.1

-0.2

*1 公開投資先は証券取引所および店頭市場で取引される株式を、未公開投資先は公開投資先に該当しない投資先を指す。投資先の公開／未公開の区分は、FY2023Q4末時点の状態に基づく
Public portfolio companies are shares traded on stock exchanges or over-the-counter markets, while private portfolio companies are those not classified as public.
The distinction between public and private portfolio companies is determined by their status as of the end of FY2023Q4.
*2 各項⽬の⾦額は、単位未満を四捨五⼊しているため、内訳の計と合計は必ずしも⼀致しない
The total and the sum of the breakdown in the table may not match due to rounding each item to the nearest unit.
*3 店頭市場取引銘柄。なお、WeWork株式の帳簿価額は0⽶ドルまで引き下げている。
Traded in the over-the-counter market. The carrying amount of WeWork stocks has been written down to zero U.S. dollars.
*4 2023年3⽉のWeWorkと主要な債券投資家およびSVF2等における同社の債務リストラクチャリングに対するサポートに係る合意に基づきSVF2が保有する転換社債および額⾯3.0億⽶ドルの債券を含む
Includes the convertible bonds and notes with a face value of $0.30 billion held by SVF2 in accordance with an agreement made in March 2023 among WeWork, its principal bondholders, SVF2, and others to support the
restructuring of WeWorkʼs debt.

-6-

SVF1&2 エグジット前の投資（当期末に保有する投資）の内訳（セクター別）|
SVF1&2 Investments Before Exit by Sector (Investments Held at the Fiscal Year-end)

FY2023 Q4（⼗億⽶ドル | Billions of USD）

合計 | Total

SVF1

未実現評価損益計上額 |Unrealized valuation gain/loss recorded
FY2023
累計 | YTD

FY2023 Q4

68

51.6

39.9

-11.7

-0.1

-0.6

コンシューマー | Consumer

16

12.5

24.9

12.4

0.5

2.2

エドテック | Edtech

1

0.6

0.2

-0.4

0.0

0.1

エンタープライズ | Enterprise

7

1.9

1.2

-0.7

-0.2

-0.5

フィンテック | Fintech

8

2.6

0.7

-1.9

-0.0

-0.2

フロンティアテック | Frontier Tech

4

0.3

0.1

-0.2

-0.0

-0.0

ヘルステック | Health Tech

7

1.7

1.5

-0.2

-0.1

-0.2

ロジスティクス | Logistics

11

6.0

3.8

-2.2

0.3

-0.8

プロップテック | Proptech

7

9.3

1.0

-8.3

-0.2

-0.8

トランスポーテーション | Transportation

7

16.7

6.5

-10.2

-0.4

-0.4

合計 | Total

SVF2

累計損益 |
Cumulative gain/loss(B) - (A)

公正価値 |
Fair value
(B)

投資額 |
Investment cost
(A)

銘柄数 |
# of investments

272

49.4

29.9

-19.5

-0.3

-1.2

コンシューマー | Consumer

47

10.4

5.6

-4.8

-0.0

-0.6

エドテック | Edtech

10

1.5

0.8

-0.7

-0.1

-0.1

エンタープライズ | Enterprise

74

9.0

5.4

-3.6

-0.1

-0.4

フィンテック | Fintech

37

8.7

5.8

-2.9

0.3

1.2

フロンティアテック | Frontier Tech

17

2.9

1.8

-1.1

-0.1

-0.5

ヘルステック | Health Tech

45

4.7

2.2

-2.5

-0.1

-0.3

ロジスティクス | Logistics

19

6.0

5.5

-0.5

-0.2

0.2

プロップテック | Proptech

8

3.7

0.1

-3.6

-0.0

-1.3

トランスポーテーション | Transportation

9

2.3

2.5

0.2

-0.0

0.6

その他 | Other

6

0.2

0.2

-0.0

0.0

0.0

*1 セクターはSBIAが合理的と考え決定した区分に基づき定義。FY23Q3に投資先の⼀部のセクターを変更
Sector categorization is determined as considered reasonable by SBIA. The sector classifications of certain portfolio companies were changed in FY23Q3.
*2 各項⽬の⾦額は、単位未満を四捨五⼊しているため、内訳の計と合計は必ずしも⼀致しない
The total and the sum of the breakdown in the table may not match due to rounding each item to the nearest unit.

-7-

SVF1 投資先⼀覧 | SVF1 Portfolio
2024年3⽉末時点。エグジット済みの投資を除く | As of March 31, 2024. Excludes exited investments.

セクター |
SectorConsumer

会社名（アルファベット順）|
Name (in alphabetical order)■: 公開投資先 | Public companies □: 株式公開予定公表済み | Stock offering plan announced

旧セクター |

初回出資⽇ |
Initial Investment Date

Former sector*1■ Auto 1 Group SE

FY2017 Q4Transportation□ Brainbees Solutions Private Limited (FirstCry)

FY2018 Q4ConsumerCollectiveHealth, Inc.
■ Ginkgo Bioworks Holdings, Inc.

旧セクター |
Former sector*1

FY2019 Q1Health Tech

FY2022 Q3Frontier Tech

Bytedance Ltd.

FY2018 Q1ConsumerGood Doctor Technology Limited

FY2019 Q3

Health Tech

FY2018 Q2Consumer

HealthKonnect Medical and Health Technology Management
Company Limited (Ping An Medical and Healthcare)

FY2017 Q4Health Tech

Esquared Capital Limited (Klook)

FY2019 Q1Consumer

Fair Financial Corp.

FY2018 Q4Transportation

Fanatics Holdings, Inc■ Relay Therapeutics, Inc.

FY2018 Q3Health Tech

■ Roivant Sciences Ltd.

FY2017 Q2Health Tech

■ Vir Biotechnology, Inc.

FY2017 Q2Health Tech

■ Delhivery Limited

FY2018 Q4

Logistics■ DoorDash, Inc.

FY2018 Q3

Logistics

FY2017 Q2Consumer

FY2018 Q4Transportation

GetYourGuide AG

FY2018 Q4Consumer

Globalbees Brands Private Limited

FY2021 Q3Consumer

FY2019 Q1Logistics

Guazi.com Inc.

FY2019 Q1

Transportation■ Full Truck Alliance Co. Ltd.

FY2018 Q1Logistics
Logistics□ Oravel Stays Limited (OYO Rooms)

Logistics

Flexport, Inc.

FY2017 Q2Consumer

GoBrands, Inc. (goPuff)

FY2019 Q2OYO Technology & Hospitality (China) Pte. Ltd.

FY2018 Q2Consumer

Local Services Holding Limited (Alibaba Local Services)

FY2018 Q3

Logistics

Plenty Unlimited Inc.

FY2017 Q2Consumer

Loggi Technology International

FY2018 Q1Logistics■ PT GoTo Gojek Tokopedia Tbk

FY2021 Q1Consumer

Parking Aggregator LLC (Parking co)

FY2023 Q1Logistics

Tabist Co., Ltd. (OYO Japan)

FY2018 Q4Consumer

Rappi, Inc.

FY2019 Q1Logistics

EdtechZuoyebang Education Limited

FY2018 Q3

EdtechEnterprise

Automation Anywhere Inc.

FY2018 Q3Enterprise

Cohesity APJ Pte. Ltd.

FY2019 Q1Enterprise

Cohesity, Inc.

FY2018 Q1Enterprise

Globality Inc.

FY2018 Q3Enterprise

Improbable Worlds Limited

FY2017 Q3

Frontier Tech

Mapbox, Inc.
■ SenseTime Group Inc.
Creditas Financial Solutions, Ltd.

FY2017 Q3Enterprise

FY2018 Q2

Frontier Tech

FY2019 Q2

FintechGreensill Capital Pty. Ltd.

FY2019 Q1

FintechKabbage, Inc.

FY2018 Q3

FintechOakNorth Holdings Limited■ One97 Communications Limited (Paytm)■ OneConnect Financial Technology Co., Ltd.

Frontier Tech

Health Tech

初回出資⽇ |
Initial Investment Date

■ Coupang, Inc.

■ Getaround, Inc.

Fintechセクター | Sector

会社名（アルファベット順）|
Name (in alphabetical order)

Proptech

REEF Proximity Aggregator LLC (Kitchen co)

FY2023 Q1Logistics

ZUME, INC.

FY2018 Q3

Logistics■ Compass, Inc.

FY2017 Q4

Proptech

Katerra Inc.

FY2017 Q4

Proptech■ View Inc.
WeWork Greater China Holding Company B.V.
■ WeWork Inc.

Transportation

FY2018 Q3

Proptech

FY2017 Q3

Proptech

FY2017 Q3

Proptech

WeWork Japan GK

FY2017 Q3

Proptech

Ziroom Inc.

FY2019 Q2

Proptech

ANI Technologies Private Limited (Ola)■ Aurora Innovation Inc.
Cambridge Mobile Telematics Inc.

FY2019 Q2

Transportation

FY2020 Q4

Transportation

FY2018 Q4

FintechFY2018 Q4Enterprise

FY2017 Q3

Fintech■ DiDi Global Inc.

FY2018 Q4Transportation■ Grab Holdings Inc.

FY2018 Q1

FintechFY2018 Q3

Transportation

Pollen, Inc. (C2FO)

FY2019 Q2

FintechNauto, Inc.

FY2017 Q3Logistics

VNLife Corporation Joint Stock Company

FY2019 Q1

FintechNuro, Inc.

FY2018 Q4

Logistics

Brain Corporation

FY2017 Q2

Frontier Tech

CloudMinds Inc.

FY2018 Q4

Frontier Tech

■ Energy Vault, Inc.

FY2019 Q2

Frontier Tech

Light Labs Inc.

FY2018 Q2

Frontier Tech

計68件 | Total of 68 investments*1 FY23Q3に投資先の⼀部のセクターを変更。FY23Q2以前に投資した投資先の旧セクターは参考として記載
The sector classifications of certain portfolio companies were changed in FY23Q3. The former sector classifications of portfolio companies
invested in prior to FY23Q3 are presented for reference.

-8-

SVF2 投資先⼀覧 | SVF2 Portfolio (1 of 3)■: 公開投資先 | Public companies □: 株式公開予定公表済み | Stock offering plan announced
2024年3⽉末時点。エグジット済みの投資を除く | As of March 31, 2024. Excludes exited investments.

☆: 共同出資プログラムの対象外の投資 | Investments outside of the co-investment program

会社名（アルファベット順）|
Name (in alphabetical order)

Consumer

Bacasable Global Limited (SandBox)

FY2021 Q3Consumer

EdtechAtom Learning Ltd.

FY2021 Q3

EdtechBaron App, Inc. (Cameo)

FY2020 Q4

Consumer(cont'd)Class Technologies Inc.

FY2021 Q2Enterprise

Cerebral Inc.

FY2021 Q3Consumer

Eruditus Learning Solutions Pte. Ltd.

FY2021 Q2

EdtechDice FM Ltd.

FY2021 Q2Consumer

GoStudent GmbHFY2021 Q2

EdtechFY2021 Q1Consumer

Happy_seed (Cayman) Limited (VIPThink)

FY2020 Q2

EdtechFY2021 Q2Consumer

Paper Education Company Inc.

FY2021 Q4

EdtechEdtechDSM Grup Danismanlik I.V.S.T.A.S (Trendyol)

初回出資⽇ |
Initial Investment Date

Former sector*1

FY2021 Q4Consumer

Riiid Inc.

FY2021 Q1Embark Veterinary, Inc.

FY2021 Q2Consumer

Sorting Hat Technologies Pvt. Ltd (Unacademy)

FY2020 Q2

EdtechEobuwie. PL S.A.

FY2021 Q2Consumer

6Sense Insights, Inc.

FY2021 Q4EnterpriseEnterprise

Extend, Inc.

FY2021 Q1Consumer

7shifts Inc.

FY2021 Q4Enterprise

Fetch Rewards, Inc.

FY2021 Q1Consumer

AccelByte Inc

FY2022 Q1Consumer

Flipkart Private Limited

FY2021 Q2ConsumerAdverity GmbHFY2021 Q3Enterprise

Get Together Inc. (IRL)FY2021 Q1Consumer

Aiquire Inc. (Pyxis)

FY2021 Q3Enterprise

Global Car Group Pte. Ltd. (Cars24)

FY2021 Q2ConsumerAndela Inc.

FY2021 Q2EnterpriseInterFocus Cayman Ltd. (PatPat)

FY2021 Q2Consumer

Arkose Labs Holdings, Inc.

FY2021 Q1EnterpriseEnterprise

FY2020 Q3

Consumer

Attentive Mobile Inc.

FY2021 Q1

Keli Network Inc. (Jellysmack)

FY2021 Q1Consumer

Behavox Ltd.

FY2019 Q4Enterprise

Lenskart Solutions Private Limited

FY2019 Q3Consumer

FY2021 Q1Enterprise

Live Momentum Ltd. (StreamElements)

FY2021 Q2Consumer

Boomerang Commerce Inc. (CommerceIQ)

FY2021 Q4Enterprise

Loop Now Technologies, Inc. (Firework)

FY2022 Q1Consumer

Cato Networks Limited

FY2023 Q2Enterprise

Manticore Games, Inc.

FY2020 Q4

Consumer

CertiK Global Ltd.

FY2022 Q1

Frontier TechEnterprise■ Beisen Holding Limited

Mathem Holdings AB

FY2023 Q4Consumer

Clarity AI, Inc.

FY2021 Q2

Meesho Inc.

FY2021 Q1Consumer

Claroty Ltd.

FY2021 Q4Enterprise

Mmhmm Inc.

FY2021 Q1Consumer

CoachHub GmbHFY2022 Q2Enterprise

Modern Clinics Inc. (Sprout)

FY2021 Q2ConsumerCommerce Fabric, Inc.

FY2021 Q4Enterprise

Naver Z Corporation

FY2021 Q3ConsumerContent Square S.A.S.

FY2021 Q1Enterprise

OP Invest AS (Gelato)

FY2021 Q2Consumer

ContractPod Technologies Limited

FY2021 Q2Enterprise

Papa Inc.

FY2021 Q3Consumer

Copado Holdings, Inc.

FY2021 Q2Enterprise

PerchHQ LLC

FY2021 Q1Consumer

Cybereason Inc.

FY2021 Q1Enterprise

PicsArt, Inc.

FY2021 Q2Consumer

Digital Arbitrage Inc. (Cloudbeds)

FY2021 Q3Consumer

RewardStyle, Inc.

FY2021 Q3Consumer

Eightfold AI Inc.

FY2021 Q1EnterpriseEnterprise☆

Ripples Capital Limited (Kitopi)

FY2021 Q2ConsumerEsusu Financial, Inc.

FY2021 Q4SCA Investments Limited (Gousto)

FY2021 Q3Consumer

Guangzhou Tungee Technology Co., Ltd.

FY2021 Q2Enterprise

Sorare SAS

FY2021 Q2Consumer

Huice Group Holding Limited (Wangdiantong)

FY2021 Q2Enterprise

Spotter, Inc.

FY2021 Q4Consumer

Icertis, Inc.

FY2021 Q3Enterprise

Tempo Interactive Inc.

FY2020 Q4

Consumer

Improbable MV Limited

FY2021 Q4

Frontier Tech

The Fynder Group, Inc. (Nature's Fynd)

FY2021 Q1Consumer

InMobi Pte. Ltd.

FY2021 Q1Enterprise

Trusty Cars Pte. Ltd. (Carro)

FY2021 Q2Transportation

Iyuno Sweden Holding I AB

FY2021 Q2Enterprise

UPSIDE Foods, Inc.

FY2020 Q3

Consumer

Job and Talent Holding Limited

FY2020 Q4EnterpriseEnterprise

Vestiaire Collective S.A.

FY2021 Q3ConsumerLabelbox, Inc.

FY2021 Q3

Vuori, Inc.

FY2021 Q3Consumer

LegalOn Technologies, Inc.

FY2022 Q1Enterprise

Whoop, Inc.

FY2020 Q3

Consumer

MindTickle Inc.

FY2020 Q3Enterprise

XPX Holdings Limited

FY2021 Q1Consumer

Minio, Inc.

FY2021 Q3Enterprise

Yanolja Co., Ltd.

FY2021 Q2Consumer

Movai Inc. (XMOV)FY2021 Q4Enterprise--

NTEX Transportation Services Private Limited (ElasticRu

FY2021 Q4Consumer360Learning S.A.

FY2021 Q2

EdtechOnboardIQ, Inc. (Fountain)

FY2021 Q2Enterprise

Apiom, Inc. (Go1)FY2021 Q1

EdtechOneTrust LLC

FY2021 Q1Enterprise

他3件 | 3 other investments
Edtech

会社名（アルファベット順）|
Name (in alphabetical order)

eFishery Pte. Ltd.

■ Keep Inc.

☆

Former sector*1

セクター |
Sector旧セクター |

セクター |
Sector☆ ■ DingDong (Cayman) Limited

初回出資⽇ |
Initial Investment Date

旧セクター |

-9-

SVF2 投資先⼀覧 | SVF2 Portfolio (2 of 3)■: 公開投資先 | Public companies □: 株式公開予定公表済み | Stock offering plan announced
2024年3⽉末時点。エグジット済みの投資を除く | As of March 31, 2024. Excludes exited investments.

セクター |
Sector

会社名（アルファベット順）|
Name (in alphabetical order)☆: 共同出資プログラムの対象外の投資 | Investments outside of the co-investment program

初回出資⽇ |
Initial Investment
Date

旧セクター |
Former sector*1

セクター |
Sector

会社名（アルファベット順）|
Name (in alphabetical order)

初回出資⽇ |
Initial Investment
Date

旧セクター |
Former sector*1

Enterprise

Oosto.ai

FY2021 Q2Enterprise

FintechDigits Financial, Inc.

FY2021 Q1Fintech(cont'd)Pantheon Systems, Inc.

FY2021 Q2Enterprise(cont'd)Drivewealth Holdings, Inc.

FY2021 Q2FintechPatsnap Limited

FY2020 Q4Enterprise

Elliptic Enterprises Limited

FY2021 Q3

FintechPax8, Inc.

FY2021 Q4Enterprise

Envelop Risk Analytics Ltd.

FY2021 Q3

FintechPeak AI Limited

FY2021 Q2Enterprise

Ethos Technologies Inc.

FY2021 Q2FintechPermutive, Inc.

FY2021 Q3EnterpriseeToro Group Ltd.

FY2020 Q4

FintechPlume Design, Inc.

FintechFY2021 Q2EnterpriseFTX Trading Ltd.

FY2021 Q2■ Qingdao AInnovation Technology Group Co., Ltd.

FY2021 Q1Enterprise

Funding Asia Group Pte. Ltd. (Funding Societies)

FY2021 Q4

FintechQuicko Technosoft Labs Private Limited (Whatfix)

FY2021 Q1Enterprise

Human Interest Inc.

FY2021 Q2FintechR Software Inc. (RapidAPI)

FY2021 Q4Enterprise

Infinity Stones Inc.

FY2021 Q4

FintechRedis Labs Ltd.

FY2020 Q4Enterprise

Juspay Technologies Private Limited

FY2021 Q3

FintechRemote Technology, Inc.

FY2022 Q1Enterprise

Klarna Holding AB

FY2020 Q4

FintechSendBird, Inc.

FY2020 Q4Enterprise

M1 Holdings Inc.

FY2021 Q2FintechSender Inc. (Sendoso)

FY2021 Q2Consumer

Opay Limited

FY2021 Q1FintechSense Talent Labs, Inc.

FY2021 Q3Enterprise

OurCrowd International General Partner, L.P.

FY2021 Q3

Other

Shenzhen Dianxiaomi Network Technology Co, Ltd. (DXM)

FY2021 Q4Enterprise

PayPay Corporation

FY2021 Q3

FintechFintechShoplazza Corporation Limited

FY2021 Q3EnterprisePrimaryBid Limited

FY2021 Q4

Skedulo Holdings, Inc.

FY2021 Q1Enterprise

Revolut Ltd.

FY2021 Q2FintechSmooth and Steady Inc. (Ekuaibao)

FY2021 Q2Enterprise

Roofstock, Inc.

FY2021 Q3Proptech

TabaPay, Inc.

FY2021 Q4

FintechVivid Money Holdco Limited

FY2021 Q4

FintechFintech

Sobot Technologies Inc.

FY2021 Q4Enterprise

Soul Machines Limited

FY2021 Q3

Frontier Tech

Standard Cognition, Corp.

FY2020 Q4EnterpriseWest Realm Shires Inc. (FTX US)

FY2021 Q2TigerGraph, Inc.

FY2021 Q1Enterprise

Zeta Investments Holdings Pte. Ltd.

FY2021 Q1FintechTractable Inc.

FY2023 Q2Enterprise

Zopa Group Limited

FY2021 Q3

FintechTravelperk, Inc

FY2023 Q3-Trax LtdFY2021 Q1Enterprise

他1件 | 1 other investment
Frontier Tech--

Agile Robots AG

FY2021 Q2

Frontier Tech

Treasure Data, Inc.

FY2021 Q1Enterprise

Cornami, Inc.

FY2021 Q3

Frontier Tech

Unifonic Inc.

FY2021 Q2Enterprise

Enpal GmbHFY2021 Q3

Frontier Tech

Vendr, Inc.

FY2022 Q1Enterprise

FormLabs, Inc.

FY2021 Q1

Frontier Tech

Vianai Systems, Inc.

FY2021 Q1

Frontier Tech

■ Globalstar, Inc.

FY2023 Q2Enterprise

Workboard, Inc

FY2021 Q1Enterprise

Guangzhou Xaircraft Technology Co., Ltd. (XAG)FY2020 Q3

Frontier Tech

Z21 Labs Inc. (Observe AI)

FY2021 Q4Enterprise

Information Grid Ltd.

FY2021 Q1ProptechZaihui Inc.

FY2021 Q2Enterprise

FY2021 Q1

Frontier Tech

ZenBusiness Inc.

FY2021 Q3Consumer--

他1件 | 1 other investment
Fintech☆

☆ ■ IonQ, Inc.
Keenon Robotics Co., Ltd.

FY2021 Q2

Frontier Tech

Kigen (UK) Limited

FY2021 Q4

Frontier Tech
Frontier Tech

Advance Intelligence Group Limited (Advance.AI)

FY2021 Q2FintechOpentrons Labworks, Inc.

FY2021 Q2Aleo Systems Inc.

FY2021 Q4

FintechSambaNova Systems, Inc.

FY2021 Q1

Frontier Tech

Apollo Agriculture, Inc.

FY2021 Q4

FintechShanghai Eigencomm Technologies Co., Ltd.

FY2021 Q4

Frontier Tech

FY2021 Q3

Frontier Tech

☆ ■ Better Holdco Inc.

FY2021 Q1FintechbKash Limited

FY2021 Q3

FintechBlockdaemon, Inc.

FY2021 Q2FintechbloXroute Labs, Inc.

FY2022 Q1Enterprise

Brex Inc.

FY2021 Q2Fintech

CFT Clear Finance Technology Corp. (Clearco)

FY2021 Q1Chime Financial, Inc.

Shanghai Gaussian Automation Technology Development Co., Ltd.
□ Shanghai JAKA Robotics Ltd.

FY2022 Q1

Frontier Tech

FY2022 Q2Frontier Tech

Wiliot Ltd.

FY2021 Q2

Frontier Tech

Abogen Therapeutics Limited

FY2021 Q3Health Tech

FintechAculys Pharma, Inc.

FY2021 Q3Health Tech

FY2021 Q2FintechAI Medical Service Inc.

FY2022 Q1Health Tech

ConsenSys Software Inc.

FY2021 Q4

FintechAlto Pharmacy Holdings, Inc.

FY2019 Q3

Health Tech

Digital Currency Group, Inc.

FY2021 Q3

FintechArsenal Biosciences, Inc.

FY2022 Q1Health Tech

Swell Energy Inc.
Health Tech

- 10 -

SVF2 投資先⼀覧 | SVF2 Portfolio (3 of 3)■: 公開投資先 | Public companies □: 株式公開予定公表済み | Stock offering plan announced
2024年3⽉末時点。エグジット済みの投資を除く | As of March 31, 2024. Excludes exited investments.

セクター |
Sector

会社名（アルファベット順）|
Name (in alphabetical order)☆: 共同出資プログラムの対象外の投資 | Investments outside of the co-investment program

初回出資⽇ |
Initial Investment
Date

旧セクター |
Former sector*1

セクター |
Sector

Health Tech

Big Health Ltd.

FY2021 Q4

Health Tech

Logistics(cont'd)Biofourmis Holdings Pte. Ltd.

FY2020 Q2

Health Tech(cont'd)Cityblock Health, Inc.

FY2021 Q2Clarify Health Solutions, Inc.

☆

☆

初回出資⽇ |
Initial Investment
Date

旧セクター |
Former sector*1

OFB Tech Private Limited (OfBusiness)

FY2021 Q2Enterprise

Paack SPV Investments, S.L.

FY2021 Q4Logistics

Health Tech

Reibus International, Inc.

FY2021 Q3Logistics

FY2022 Q1Enterprise

RightHand Robotics, Inc.

FY2021 Q4Logistics

CMR Surgical Limited

FY2021 Q2Health Tech

SendCloud Global BV

FY2021 Q2Logistics

Deep Genomics Incorporated

FY2021 Q2Health Tech

ShipBob, Inc.

FY2020 Q2

Logistics

Devoted Health, Inc.

FY2021 Q2Health Tech

Swiggy Limited

FY2021 Q2Consumer

FY2022 Q1Logistics☆

Dewpoint Therapeutics, Inc.

FY2021 Q4

Health TechEDDA Healthcare and Technology Holding Limited

FY2020 Q4

Health Tech

Veho Tech, Inc.

FY2021 Q4Logistics

ElevateBio LLC

FY2020 Q4

Health Tech

Weee! Inc.

FY2021 Q4Consumer

Encoded Therapeutics Inc.

FY2020 Q1

Health Tech

Clicpiso Holdco Global S.à r.l. (Clikalia)

FY2021 Q4

Proptech

FY2021 Q1Health Tech

Lyra Technologies, Inc. (Block Renovation)

FY2021 Q3Proptech

FY2020 Q4

Health Tech

Pacaso Inc.

FY2021 Q2Proptech

FY2021 Q2Proptech■ Exscientia PLC
GoForward, Inc.

■ Symbotic Inc.

ProptechHexagon Bio, Inc.

FY2021 Q1Health Tech

Insitro, Inc.

FY2021 Q1Health Tech

Karius, Inc.

FY2019 Q4

Health Tech

Leyden Laboratories B.V.

FY2021 Q3Health Tech

FY2021 Q3

Transportation

Lumicks Technologies B.V.

FY2021 Q1Health Tech

Platform Science, Inc.

FY2021 Q3

Transportation

Rimac Group D.O.O.

FY2022 Q1Transportation

FY2021 Q2Health Tech

Robotic Research OpCo, LLC

FY2021 Q3

Transportation

FY2021 Q3Health Tech

Tier Mobility GmbHFY2020 Q3

Transportation

Metsera, Inc.
■ Neumora Therapeutics, Inc.
Neuron23, Inc.
Noah Medical Corporation☆ ■ Pear Therapeutics, Inc.

☆ ■ WeWork Inc.
他4件 | 4 other investments*2
Transportation

NetraDyne, Inc.
□ Ola Electric Mobility Private Limited

FY2023 Q4--

FY2021 Q2Transportation

FY2021 Q4

Health Tech

Voyager Group Inc. (DiDi AV JV)FY2019 Q4

Transportation

FY2020 Q3

Health Tech

Zum Services, Inc.

FY2021 Q3

Transportation

Plexium, Inc.

FY2021 Q4

Health Tech

Proximie Limited

FY2022 Q1Health Tech

□ QuantumPharm Inc. (XtalPi)

FY2020 Q2

Quris Technologies Ltd.

FY2022 Q1Repertoire Immune Medicines, Inc.

FY2021 Q1☆ ■ Seer, Inc.

Logistics

会社名（アルファベット順）|
Name (in alphabetical order)

他1件 | 1 other investment--

7wire Ventures Fund II, L.P.

FY2021 Q1

Other

Health TechBrex Technology Opportunities Fund (Master) I LP

FY2021 Q4

Other

Health Tech

Liberty 77 Capital LP

FY2021 Q4

Other

Health Tech

MX Fund II GmbH & Co. KG (Merantix)

FY2021 Q3

Other

Other

FY2020 Q3

Health Tech

NorthStar Equity Partners V Limited

FY2021 Q2

OtherShanghai Fourier Intelligence Co., Ltd.

FY2021 Q4

Health Tech

Paradigm One (Cayman) Feeder LP

FY2021 Q3

Other

Shenzhen XinJuTe Intelligent Medical Devices Co., Ltd. (Futurtec)

FY2021 Q3Health Tech

Synthego Corporation

FY2021 Q4

Health Tech

Tessera Therapeutics, Inc.

FY2020 Q3

Health Tech

Umoja Biopharma, Inc.

FY2021 Q1Health Tech

Variant Bio, Inc.

FY2021 Q3Health Tech

Venn Biosciences Corporation (InterVenn)

FY2021 Q2Health Tech

Ventus Therapeutics U.S.

FY2021 Q4

Health Tech

他3件 | 3 other investments--

FY2021 Q1Logistics

Cargomatic, Inc.

FY2021 Q3Logistics

ezCater, Inc.

FY2021 Q3Logistics

Flock Freight, Inc.

FY2020 Q3

Logistics

Forto GmbHFY2021 Q2Logistics☆ ■ Full Truck Alliance Co. Ltd.

FY2020 Q3

Logistics☆ ■ JD Logistics, Inc.

FY2021 Q1Logistics■ AutoStore Holdings Ltd.

Material Technologies Corporation (Material Bank)FY2021 Q2Logistics

Misfits Market, Inc.

FY2021 Q2Consumer- 11 -

計272件 | Total of 272 investments*1 FY23Q3に投資先の⼀部のセクターを変更。FY23Q2以前に投資した投資先の旧セクターは参考として記載
The sector classifications of certain portfolio companies were changed in FY23Q3. The former sector classifications of portfolio
companies invested in prior to FY23Q3 are presented for reference.
*2 2023年3⽉のWeWorkと主要な債券投資家およびSVF2等における同社の債務リストラクチャリングに対するサポートに係る合意に基づき
SVF2が保有する転換社債および額⾯3.0億⽶ドルの債券を含む
Includes the convertible bonds and notes with a face value of $0.30 billion held by SVF2 in accordance with an agreement made in March2023 among WeWork, its principal bondholders, SVF2, and others to support the restructuring of WeWorkʼs debt.

SVF1＆2 投資先の株式公開実績・予定 | Stock Offerings/Offering Plans for SVF1&2 Portfolio Companies
2024年3⽉末時点 | As of March 31, 2024

ファンド |Fund
SVF1

株式公開⽇ |
Offering Date (YYYY/MM/DD)

公開⽅式 |
FormatSeer, Inc.

2020/12/4

IPO

IPO

JD Logistics, Inc.

2021/5/28

IPO

2020/7/16

IPO

Full Truck Alliance Co. Ltd.

2021/6/22

IPO

2020/12/9

IPO

DingDong (Cayman) Limited

2021/6/29

IPO

株式公開⽇ |
Offering Date (YYYY/MM/DD)

公開⽅式 |
Format

エグジット前の投資 | Investments before exit *1
Vir Biotechnology, Inc.

2019/10/11

IPO

OneConnect Financial Technology Co., Ltd.

2019/12/13

Relay Therapeutics, Inc.
DoorDash, Inc.

会社名 | Name

SVF2Auto 1 Group SE

2021/2/4

IPO

View Inc.*2
Coupang, Inc.

2021/3/9

De-SPAC

2021/3/11

IPO

Compass, Inc.

2021/4/1

IPO

Full Truck Alliance Co. Ltd

DiDi Global Inc.

2021/6/22

IPO

2021/6/30

IPO

会社名 | Name
エグジット前の投資 | Investments before exit

Exscientia PLC

2021/10/1

IPO

IonQ, Inc.

2021/10/1

De-SPAC

AutoStore Holdings Ltd.

2021/10/20

IPO

2021/10/21

De-SPAC

WeWork Inc.

2021/12/6
2023年4⽉19⽇に店頭取引市場に移⾏

2021/10/1

De-SPAC

2021/10/21

De-SPAC

Pear Therapeutics, Inc.

2023年11⽉8⽇に店頭取引市場に移⾏

Qingdao AInnovation Technology Group Co., Ltd.

2022/1/27

IPO

Symbotic Inc.

2022/6/8

De-SPAC

Beisen Holding Limited

2023/4/13

IPO

Keep Inc.

2023/7/12

IPO

Better Holdco Inc.

2023/8/24

De-SPAC

Neumora Therapeutics, Inc.

2023/9/15

IPO

Shanghai JAKA Robotics Ltd.

TBA

IPO

Ola Electric Mobility Private Limited

TBA

IPO

IPO

QuantumPharm Inc. (XtalPi)

TBA

IPO

2022/5/24

IPO

全部エグジット済みの公開投資 | Fully exited public investments

2021/11/4

One97 Communications Limited (Paytm)

2021/11/18

IPO

Grab Holdings Inc.

2021/12/2

De-SPAC

SenseTime Group Inc.

2021/12/30

IPO

Energy Vault, Inc.

2022/2/14

De-SPACPT GoTo Gojek Tokopedia Tbk

2022/4/11

Delhivery Limited
Getaround, Inc.

De-SPAC

2022/12/9

De-SPAC

KE Holdings Inc. (Beike)

Oravel Stays Limited (OYO Rooms)

TBA

IPO

Qualtrics International Inc.

Brainbees Solutions Private Limited (FirstCry)

TBA

IPO

Berkshire Grey, Inc.

全部エグジット済みの公開投資 | Fully exited public investments

Zhangmen Education Inc.

NVIDIA Corporation
ZhongAn Online P & C Insurance Co., Ltd.
Ping An Healthcare and TechnologyCompany Limited (Ping An Good Doctor)
Guardant Health, Inc.
Uber Technologies, Inc.
Slack Technologies, Inc.

PB Fintech Limited (Policybazaar)
Zomato Limited

De-SPACTransferred to the OTC market on2023/4/19

Transferred to the OTC market on 2023/11/8

Opendoor Technologies Inc.

Transferred to the OTC market on2023/11/8

2022年6⽉13⽇に店頭取引市場に移⾏

Aurora Innovation Inc.

10x Genomics, Inc.

2023年11⽉8⽇に店頭取引市場に移⾏

Transferred to the OTC market on 2022/6/13
Roivant Sciences Ltd.

WeWork Inc.

ファンド |
Fund*1 投資時に公開済みのものを除く
Excludes those already listed at the time of investment.
*2 2024年4⽉5⽇に店頭取引市場に移⾏
Transferred to the over-the-counter market on April 5, 2024.

- 12 -

LatAmファンド 投資先⼀覧 | LatAm Funds Portfolio
2024年3⽉末時点。エグジット済みの投資を除く | As of March 31, 2024. Excludes exited investments.

■: 公開投資先 | Public companies ☆: 共同出資プログラムの対象外の投資 | Investments outside of the co-investment program

初回出資⽇ |
Initial Investment
Date

Consumer

FintechBetterfly PBC

FY2021 Q1Fintech(cont'd)

Buk Holdings Limited

FY2021 Q3

FintechConsumerContabilizei Company

FY2020 Q3

FintechConsumer

Creditas Financial Solutions, Ltd.

FY2019 Q3

FintechFY2020 Q1

Consumer

Digital Currency Group, Inc. (DCG)

FY2021 Q2FintechFY2021 Q2Consumer

Grupo Bursatil Mexicano

FY2022 Q2Enterprise

Goody Technologies, Inc.

FY2021 Q3

Kavak Holdings Limited

FY2019 Q3

Laika Universe Inc.

FY2021 Q4

MadeiraMadeira Ltd.

FY2019 Q3Petlove Cayman, Ltd.
PopUP Design, Inc. (GAIA)

Former sector*1

Sorare SAS

FY2021 Q2Consumer

Televisa-Univision

FY2020 Q3

ConsumerTul, Inc.

FY2021 Q2Consumer

Tupoe Ltd. (Glorify)

FY2021 Q2Consumer

Wellhub, Inc.

FY2020 Q2

Zapt Holdings Limited

FY2021 Q4

他2件 | 2 other investments☆ ■ Afya Limited

旧セクター |

Transportation

Consumer

Achieve Holdings (Arco)

初回出資⽇ |
Initial Investment
Date

会社名（アルファベット順）|
Name (in alphabetical order)

会社名（アルファベット順）|
Name (in alphabetical order)

Edtech旧セクター |

セクター | Sector

セクター |
SectorHashdex, Ltd.
☆ ■ Inter & Co, Inc.

Former sector*1

FY2021 Q1FintechFY2019 Q3

FintechJusto Seguros Holdings Limited

FY2021 Q3

FintechKonfio Limited

FY2019 Q3

FintechEnterprise

Kushki Group Holdings, Ltd.

FY2021 Q1FintechConsumer

Merama, Inc.

FY2021 Q2FintechFY2021 Q3

Fintech☆

--FY2022 Q4

Edtech☆ ■ Nu Holdings Ltd.
OpenCo Holding Limited

FY2021 Q3

FintechFY2020 Q2

EdtechPayClip, Inc.

FY2019 Q3

FintechFintechCamino Education Ltd.

FY2020 Q2

EdtechPayStand Inc.

FY2022 Q2Descomplica, Ltd.

FY2020 Q4

EdtechSolfacil International Ltd.

FY2021 Q4

FintechUOL EdTech Cayman Ltd

FY2020 Q3

EdtechSwile SAS

FY2021 Q3

Fintech-EdtechTerramagna Ltd.

FY2021 Q3

FintechCortex Intelligence Ltd.

他1件 | 1 other investment

FY2020 Q1Enterprise

The Badger Technology Company Holdings Ltd. (Bitso)

FY2021 Q1Fintech

CRMBonus Holding

FY2021 Q3Enterprise

他3件 | 3 other investments☆ ■ DOTZ S.A.

FY2021 Q1Enterprise

Frontier Tech

Gupy Ltd.

FY2021 Q4Enterprise

Incode Technologies, Inc.

FY2021 Q3Enterprise

JusBrasil, Ltd.

FY2020 Q4

ConsumerEnterprise☆

-☆ ■ Satellogic Inc.

FY2021 Q4

Frontier Tech

Health Tech

Alice Holding

FY2021 Q4

Health Tech

Logistics

Frubana Inc.

FY2019 Q4

Logistics

International Logistics Holding LLC (CargoX)

FY2021 Q3

Transportation

Omie Ltd.

FY2021 Q2Enterprise

Jokr S.a.r.I.

FY2020 Q4

Logistics

Pipefy, Inc.

FY2021 Q3Enterprise

Loadsmart, Inc.

FY2021 Q4Logistics

Rankmi Holdings Limited

FY2022 Q4Enterprise

Loggi Technology International

FY2019 Q3

Logistics

Seraphim Holdings Ltd. (Gabriel)

FY2021 Q3Enterprise

Nowports Inc.

FY2021 Q3

Transportation

Solidarium (Olist)

FY2019 Q3Enterprise

Rappi, Inc.

FY2019 Q3

Logistics

Unico Technologies Ltd (Acesso Digital)

FY2020 Q3Enterprise

Loft Holdings Ltd

FY2019 Q3

Proptech☆ ■ VTEX
Fintech-Proptech

FY2019 Q3Enterprise

McN Investments Ltd. (Habi)

FY2021 Q1Proptech

2TM Holding Company Ltd

FY2021 Q2FintechQUINTOANDAR, LTD.

FY2019 Q3

Proptech

Adelante Financial Holdings Limited (Addi)

FY2021 Q3

Fintech

他1件 | 1 other investment

Aingel Corp. (Tribal)

FY2021 Q4

FintechAtom Finance, Inc.

FY2021 Q1FintechAvenue Holding Cayman Ltd.

FY2021 Q2FintechBancar Technologies Limited (Uala)FY2021 Q3

FintechTransportation
Other

-

-

Buser, Ltd.

FY2019 Q3

TransportationFHF Ventures Ltd. (Cobli)

FY2021 Q2Logistics--

12件（LP持分を含む） | 12 investments (including LP interests)*1 FY23Q3に投資先の⼀部のセクターを変更。FY23Q2以前に投資した投資先の旧セクターは参考として記載

計89件 | Total of 89 investments *2

The sector classifications of certain portfolio companies were changed in FY23Q3. The former sector classificationsof portfolio companies invested in prior to FY23Q3 are presented for reference.
*2 普通株式および優先株式を保有する投資先1社については、普通株式への投資と優先株式への投資をそれぞれ1件として投資件数に含めている
For 1 portfolio company invested in common and preferred shares, each holding is counted as 1 investment.

- 13 -

ソフトバンク事業 | SoftBank Segment（監査前 | Unaudited）

FY2022（百万円 | Millions of JPY）

売上⾼ | Net sales
セグメント利益（税引前利益） |Segment income (income before income tax)
減価償却費及び償却費 |Depreciation and amortization
投資損益 | Gain (loss) on investments
財務費⽤ | Finance cost
持分法による投資損益*1 |Income (loss) on equity method investments*1
デリバティブ関連損益（投資損益を除く）|
Derivative gain (loss) (excluding gain (loss) on investments)
その他の損益 | Other gain (loss)

Q1

Q2

Q3

FY2023年度 |Full year

Q4

Q1

Q2

Q3

Q4

年度 |
Full year

1,380,802

1,471,429

1,536,001

1,568,305

5,956,537

1,430,067

1,503,974

1,577,511

1,572,294

6,083,846

222,214202,683

120,646

47,239592,782

254,987

260,245

196,299

123,545835,076-184,156-185,716-189,621-209,219-768,712-181,576-181,322-189,219-186,645-738,762

1,133-4,583-22,765834-25,381

2,217

6,405

-4,474

2,516

6,664

-15,341-15,738-16,509-16,432-64,020-16,140-16,881-15,086-15,599-63,706-10,351-11,597-10,611-14,224-46,783-7,599-4,540-5,731-4,725-22,595

901

640

-740

-109

692

824

398

86

876

2,184

7,769

-6,804-30,105-13,613-42,753

30,265

9,631-1,634-5,13033,132*1 2022年10⽉よりPayPay㈱はソフトバンク㈱およびLINEヤフー㈱の⼦会社となったため、FY2022Q3より、PayPay㈱の業績は「その他」ではなく「ソフトバンク事業」に含めて表⽰し、FY2022Q2以前の各四半期について遡及修正
Since PayPay Corporation became a subsidiary of SoftBank Corp. and LY Corporation in October 2022, its operating results are no longer included in “Other,” but are presented within the SoftBank segment from FY2022Q3, with the results retrospectively
adjusted and presented for the periods prior to FY2022Q3.

- 14 -

アーム事業／KPI | Arm Segment / KPI(1) 業績 | Results（監査前 | Unaudited）

FY2022

FY2023Q4

年度 |Full year

121,017137,211464,025-8,005-16,771-33,215

Q4

年度 |Full year

Q1

Q2

Q3

Q4

年度 |
Full year

Q1

Q2

Q3

売上⾼ | Net sales

92,751

90,954105,247

92,794

381,746

88,502

117,295

セグメント利益（税引前利益）|
Segment income (income before income tax)

29,846

5,785

19,270-6,23848,663-9,5081,069（百万円 | Millions of JPY）

*1

（参考）売上⾼| (Reference) Revenue*1

FY2022（百万⽶ドル | Millions of USD）

Q1

Q2

Q3

FY2023年度 |Full year

Q4

Q1

Q2

Q3

ロイヤルティー収⼊ | Royalty revenue

453

463

446

421

1,783

365

418

470

514

1,767

ライセンスおよびその他の収⼊ | License and other revenue

266

193

300

276

1,034

276

388

354

413

1,431

合計 | Total

719

656

746

696

2,817

641

806

824

927

3,198

(2) KPI
ロイヤルティー・ユニット*2 | Royalty units*2

FY2022（⼗億個 | Billion）

ロイヤルティー・ユニット出荷数（ライセンシーからの報告）|
Royalty units as reported by licensees

Q1

Q2
7.3

Q3
7.5

FY2023年度 |Full year

Q4
7.9

7.8

30.6

Q1

Q2
6.8

Q3
7.1

年度 |
Full year

Q4
7.7

7.0

28.6

*1 FY2023Q1より、売上区分の名称を「テクノロジー・ロイヤルティー収⼊」および「⾮ロイヤルティー収⼊」から、それぞれ「ロイヤルティー収⼊」および「ライセンスおよびその他の収⼊」に変更。なお、集計⽅法については従来から変更なし
From FY2023Q1, the names of revenue categories have been changed from “Technology royalty” and “Technology non-royalty” to “Royalty revenue” and “License and other revenue,” respectively. The aggregation method remains unchanged.
*2 ロイヤルティー・ユニット（アームのテクノロジーを含んだチップ）の出荷実績は、出荷の発⽣から1四半期遅れでライセンシーから報告される（ロイヤルティー収⼊は、出荷が発⽣する四半期に⾒積りに基づいて計上）。FY2023Q4のロイヤルティー・ユニットは、2023年10〜12⽉期の出荷実績。
FY2023Q1にライセンシーから受領した最新の情報に基づき、FY2022の出荷数を遡及修正
Based on the actual shipments of royalty units (chips incorporating Arm technology) as reported by Arm licensees. Armʼs licensees report their shipments one quarter in arrears (royalty revenues are accrued in the same quarter the chips areshipped based on estimates). Royalty unit for FY2023Q4 is based on chips shipped for three months ended December 31, 2023. In FY2023Q1, royalty unit data for FY2022 has been restated based on updated information received from Arm
licensees.

- 15 -

その他 | Other（監査前 | Unaudited）

FY2022

FY2023年度 |Full year

年度 |Full year

Q1

Q2

Q3

Q4

244,846

43,902

52,56079,48849,061225,011-62,839-75,258

88,962-4,62557,713-90,642

51,408-5,423-5,497-31,301-4,789-5,603-5,943-5,344-21,679

10,242-10,587-20,233-48,283

1,480

17,23368,054-30,990

55,777-4,166-4,191-3,838-3,471-15,666-3,613-4,192-4,174-4,441-16,420

持分法による投資損益 | Income (loss) on equity method investments-3,707

4,014

-431

-11,936-12,060-8,888-9,363587

301-17,363

デリバティブ関連損益（投資損益を除く）|
Derivative gain (loss) (excluding gain (loss) on investments)-14,362----14,362

-

-

-

-

-

Q1

Q2

Q3

Q4

売上⾼ | Net sales

101,625

51,551

54,39437,276セグメント利益（税引前利益） |Segment income (income before income tax)

-19,275

7,748

-892

減価償却費及び償却費 | Depreciation and amortization-14,112-6,269

投資損益 | Gain (loss) on investments-27,705

財務費⽤ | Finance cost

（百万円 | Milions of JPY）

*1 「その他」にはFortress Investment Group LLC、福岡ソフトバンクホークス（株）などの業績が含まれる。
2022年10⽉よりPayPay㈱はソフトバンク㈱およびLINEヤフー㈱の⼦会社となったため、FY2022Q3より、PayPay㈱の業績は「その他」ではなく「ソフトバンク事業」に含めて表⽰し、FY2022Q2以前の各四半期について遡及修正"Other" includes the business results of Fortress Investment Group LLC and Fukuoka SoftBank HAWKS Corp., among others. Since PayPay Corporation became a subsidiary of SoftBank Corp. and LY Corporation in October 2022, its operating results
are no longer included in “Other,” but are presented within the SoftBank segment from FY2022Q3, with the results retrospectively adjusted and presented for the periods prior to FY2022Q3.

- 16 -

NAVとLTV | NAV and LTV（単位の表記がない場合 単位︓兆円 | Trillions of JPY unless otherwise stated）

FY2022Q1(V)(L)

調整後SBG単体保有株式価値 |Adjusted SBG stand-alone equity value of holdings

Q2

FY2023
Q3

Q4

Q1

Q2

Q3

Q4

21.66

19.68

16.93

15.87

16.90

18.35

21.72

30.35

Alibaba

4.48

3.03

2.05

0.71

0.02

0.01

0.01

0.01

SoftBank Corp.

2.39

2.21

2.29

2.37

2.39

2.67

2.80

3.16

SVF1

3.41

3.27

2.79

2.80

3.03

3.29

3.25

3.44

SVF2

4.50

4.19

3.71

3.52

4.04

3.89

4.14

4.42

LatAm Funds

0.96

0.99

0.86

0.79

0.91

0.94

0.91

0.97

T-Mobile

1.00

1.15

1.15

1.23

1.20

1.27

1.62

1.76

Deutsche Telekom

0.17

0.13

0.16

0.28

0.23

0.23

0.29

0.33

Arm

2.96

3.13

2.63

2.87

3.66

4.33

6.93

14.36

その他 | Others

1.79

1.59

1.29

1.30

1.42

1.73

1.77

1.89

3.15

2.96

3.08

1.75

1.35

1.94

2.49

2.55

連結純有利⼦負債 | Consolidated net interest-bearing debt

17.92

14.13

13.48

13.59

14.70

14.68

14.76

14.89

独⽴採算⼦会社等の純有利⼦負債 |Net interest-bearing debt at self-financing entities, etc.

5.90

5.63

5.37

5.38

5.76

4.70

4.74

4.52

その他調整 | Other adjustments

8.87

5.54

5.03

6.46

7.59

8.03

7.54

7.81

18.52

16.73

13.85

14.13

15.54

16.41

19.23

27.79

11,64010,791

9,472

9,656

10,616

11,196

13,11918,961

14.5

15.0

18.2

11.0

8.0

10.6

11.5

8.4

5,235

4,900

5,644

5,182

6,773

6,335

6,293

8,962

1,590,724,012

1,549,888,403

1,462,458,385

1,463,047,631

1,464,039,190

1,465,715,598

1,465,795,513

1,465,925,399

136.68144.81132.70133.53144.99149.58141.83151.41

調整後SBG単体純有利⼦負債 |Adjusted SBG stand-alone net interest-bearing debt(V) - (L) NAV
1株当たりNAV （円）| NAV per share (JPY)(L) / (V) LTV（%）（ご参考） | (Reference)
SBGの株価 （円）| Share price of SBG (JPY)
SBGの発⾏済株式総数（⾃⼰株式を除く）|
Total number of SBG shares issued (excluding treasury stock)
USD / JPY
*1

NAVおよびLTVの定義については、「NAVとLTVの定義」を参照
For the definition of NAV and LTV, please refer to "Definition of NAV and LTV."- 17 -

LTV計算（2024年3⽉末） | LTV Calculation as of March 31, 2024
（兆円 | Trillions of JPY）

LTV (Loan-to-Value)(L) 調整後SBG単体純有利⼦負債 |Adjusted SBG stand-alone net interest-bearing debt

2.55

(V) 調整後SBG単体保有株式価値 |Adjusted SBG stand-alone equity value of holdings

30.35

LTV = (L) / (V)

8.4%

調整後SBG単体純有利⼦負債 |Adjusted SBG stand-alone net interest-bearing debt(a) 連結純有利⼦負債 | Consolidated net interest-bearing debt

14.89

26.17

21.36

Alibaba

3.76

連結 ⼿元流動性 | Consolidated cash position-6.48

SoftBank Corp.

3.74

T-Mobile

2.21

4.52

Deutsche Telekom

0.83

SoftBank Corp.*2

4.53

Arm

15.64

Arm

-0.41

(e) SVF1

3.44

SVF1

-0.07

(f) SVF2

4.42

SVF2

0.44

(g) LatAm Funds

0.97

LatAm Funds-0.00(h) その他 | Others

1.89

その他 | Other self-financing entities

0.03(i) アセットバック・ファイナンスの調整 | Adjustment on asset-backed finance-6.55(c) その他調整 | Other adjustments

7.81

Alibaba-3.75

ハイブリッド債・ハイブリッドローンの調整 | Adjustment on hybrid bonds and hybrid loans

0.37

SoftBank Corp.

-0.58

アセットバック・ファイナンス調整 | Adjustment on asset-backed finance

7.44

T-Mobile-0.44

Deutsche Telekom

-0.50

Arm

-1.27

(L) = (a) - (b) - (c) 調整後SBG単体純有利⼦負債 |Adjusted SBG stand-alone net interest-bearing debt

2.55

LTV計算の定義については、「NAVとLTVの定義」を参照
For the definition of LTV calculation, please see "Definition of NAV and LTV."*2(d) 主な上場株式 | Major listed shares

連結 有利⼦負債 | Consolidated interest-bearing debt(b) 独⽴採算⼦会社等の純有利⼦負債 | Net interest-bearing debt at self-financing entities, etc.

*1

調整後SBG単体保有株式価値 |Adjusted SBG stand-alone equity value of holdings

LINEヤフー㈱およびPayPay㈱をはじめとする⼦会社を含む
Includes subsidiaries such as LY Corporation and PayPay Corporation.

- 18 -(V) = (d) 〜 (i) 調整後SBG単体保有株式価値 |Adjusted SBG stand-alone equity value of holdings

30.35

NAVとLTVの定義（2024年3⽉末）
前四半期末以前のNAVとLTVの定義については、各四半期のデータシートを参照

1 NAV（Net Asset Value︓時価純資産）
NAV = 調整後SBG単体保有株式価値 - 調整後SBG単体純有利⼦負債
1株当たりNAV = NAV ÷ 発⾏済株式総数（⾃⼰株式を除く）

2 調整後SBG単体保有株式価値
Alibaba（アリババ）︓SBGの保有株式数に相当する⽶国預託証券数 × 同証券の株価 ー 同社株式を活⽤した複数の先渡売買契約（カラー契約・フォワード契約・コールスプレッド）のうち未決済分の満期決済⾦額（同社株価で算出）の合計額
SoftBank Corp.（SBKK）︓SBGの保有株式数 × 同社株価 ー 同社株式を活⽤したマージンローンの負債残⾼相当額等
SVF1︓SVF1のNAVに対するSBGの持分 + 成功報酬の⾒込み⾦額等
SVF2︓SVF2のNAVに対するSBGの持分等
LatAm Funds（LatAmファンド）︓LatAmファンドのNAVに対するSBGの持分 + 成功報酬の⾒込み⾦額
T-Mobile（Tモバイル）︓(a) ー (b) ー (c)(a) SBGの保有株式数（ドイツテレコムが保有する株式購⼊オプションの対象株式数を含む）× 同社株価(b) ドイツテレコムが保有する未⾏使の株式購⼊オプションに係るデリバティブ⾦融負債の⾦額(c) Tモバイル株式を活⽤した先渡売買契約（カラー契約）の満期決済⾦額（同社株価で算出）
Deutsche Telekom（ドイツテレコム）︓SBGの保有株式数 × 同社株価 ー 同社株式を活⽤したカラー取引の満期決済⾦額
Arm（アーム）︓SBGの保有株式数 x 同社株価 ー グループ内取引によりSVF1から取得したアーム株式の未払⾦残⾼ ー 同社株式を活⽤したマージンローンの負債残⾼相当額
その他︓(d) + (e) + (f)(d) 上場株式︓SBGの保有株式数に各上場株式の株価を乗じて算出(e) ⾮上場株式︓SBGが保有する未上場株式等の公正価値（公正価値で測定していない株式等はSBGのBS上の簿価）に基づいて算出(f) SB Northstar︓SB NorthstarのNAVに対するSBGの持分 ＋ SBGが保有するNVIDIA Corporation株式の公正価値。なおSB Northstarの現⾦及び現⾦同等物、債券投資、⼀部の有利⼦負債（マージンローンおよびプライムブローカレッジローンを除く）は
SBGの純有利⼦負債の⼀部と⾒なし、同社NAVの算出には含めない。

3 調整後SBG単体純有利⼦負債
調整後SBG単体純有利⼦負債 = 連結純有利⼦負債*1 - 独⽴採算⼦会社等の純有利⼦負債*2 - その他調整
純有利⼦負債 = 有利⼦負債 - ⼿元流動性
⼿元流動性 ＝ 現⾦及び現⾦同等物 + 流動資産に含まれる短期投資 + 債券投資
*1 連結有利⼦負債はSBG連結外部に対する有利⼦負債およびリース負債の合計。PayPay銀⾏㈱の銀⾏業の預⾦は含まない。連結⼿元流動性はPayPay銀⾏㈱の⼿元流動性を含まない。
*2 独⽴採算⼦会社等の純有利⼦負債︓SBKK（LINEヤフー㈱およびPayPay㈱をはじめとする⼦会社を含む）、SVF1、SVF2、LatAmファンドおよびアーム等の独⽴採算⼦会社、ならびにSB Northstarの有利⼦負債合計から現預⾦等合計を減算
なお、SB Northstarの現⾦及び現⾦同等物、債券投資、⼀部の有利⼦負債（マージンローンおよびプライムブローカレッジローンを除く）はSBGの純有利⼦負債の⼀部と⾒なす。同社のマージンローンおよびプライムブローカレッジローンの残⾼は、2024年3⽉末においていずれもゼロ。
その他調整︓以下(g)〜(m)の合計(g) ハイブリッド債およびハイブリッドローンのうち、償還期限のあるものは連結会計上全額が有利⼦負債に計上されるため50％を有利⼦負債から控除（対象社債︓第4回円建ハイブリッド債、第5回円建ハイブリッド債、第6回円建ハイブリッド債）(h) ハイブリッド債のうち償還期限の無い永久債は連結会計上全額が資本計上されているため50%を有利⼦負債に算⼊（対象社債︓⽶ドル建ノンコール10年永久社債）(i) アリババ株式を活⽤した複数の先渡売買契約（カラー契約・フォワード契約）に係る株式先渡契約⾦融負債を控除(j) SBKK株式を活⽤したマージンローンの負債残⾼相当額等を控除(k) Tモバイル株式を活⽤した先渡売買契約（カラー契約）に係る株式先渡契約⾦融負債を控除(l) ドイツテレコム株式を活⽤したカラー取引に係る負債残⾼相当額を控除(m) アーム株式を活⽤したマージンローンの負債残⾼相当額を控除

4 LTV（Loan-to-Value)
LTV = 調整後SBG単体純有利⼦負債 ÷ 調整後SBG単体保有株式価値※別段記載のない限り税⾦考慮前- 19 -

Definition of NAV and LTV as of March 31, 2024
For the definitions of NAV and LTV prior to the end of the previous quarter, see the datasheets for each quarter.

1 NAV（Net Asset Value）
NAV = Adjusted SBG stand-alone equity value of holdings - Adjusted SBG stand-alone net interest-bearing debt
NAV per share = NAV / Total number of shares issued (excluding treasury stock)

2 Adjusted SBG stand-alone equity value of holdings
Alibaba: the number of Alibaba ADSs equivalent to the number of shares held by SBG × Alibaba ADS price - the sum of the outstanding maturity settlement amounts (calculated by using the companyʼs share price)of the prepaid forward contracts (collar contracts, forward contracts, and call spread) using Alibaba shares.
SoftBank Corp.: the number of shares held by SBG × SBKK share price - the equivalent amount of outstanding liabilities for margin loans, etc. using SBKK shares.
SVF1: SBG's share of SVF1ʼs NAV + accrued performance fees, etc.
SVF2: SBG's share of SVF2ʼs NAV, etc
LatAm Funds: SBG's share of LatAm Fundsʼ NAV + accrued performance fees.
T-Mobile: (a) - (b) - (c)(a) The number of T-Mobile shares held by SBG, including the number of shares subject to call options held by Deutsche Telekom × T-Mobile share price.
(b) The amount of derivative financial liabilities related to unexercised call options held by Deutsche Telekom.
(c) Maturity settlement amount of the prepaid forward contracts (collar contracts) using T-Mobile shares (calculated by using the companyʼs share price).
Deutsche Telekom: the number of Deutsche Telekom shares held by SBG × Deutsche Telekom share price - the maturity settlement amount of a collar transaction using Deutsche Telekom shares.
Arm: the number of shares held by SBG × Arm share price - the payable amount of the consideration for Arm shares acquired from SVF1 through an intra-group transaction - the equivalent amount of outstanding liabilities for
margin loans using Arm shares.
Other: (d) + (e) + (f)(d) Listed shares: the number of shares held by SBG multiplied by the share price of each listed share.
(e) Unlisted shares: calculated based on the fair value (or the carrying amount in SBGʼs balance sheet for those not measured at fair value) of unlisted shares, etc. held by SBG.
(f) SB Northstar: SBGʼs share of SB Northstar's NAV + the fair value of NVIDIA Corporation shares. Cash and cash equivalents, bond investments, and a part of interest-bearing debt except for margin loans and prime brokerage loans,are treated as a part of the net interest-bearing debt of SBG therefore not included in the calculation of SB Northstarʼs NAV.

3 Adjusted SBG stand-alone net interest-bearing debt
Adjusted SBG stand-alone net interest-bearing debt = consolidated net interest-bearing debt *1 - net interest-bearing debt at self-financing entities, etc. *2 - other adjustments
Net interest-bearing debt = Interest-bearing debt - Cash position
Cash position = cash and cash equivalents + short-term investments recorded as current assets + bond investments*1 Consolidated interest-bearing debt only includes interest-bearing debt and lease liabilities to third parties, and excludes deposits for banking business at PayPay Bank Corporation.
Consolidated cash position excludes cash position at PayPay Bank Corporation.
*2 Net interest-bearing debt at self-financing entities, etc.: the sum of gross interest-bearing debt minus the sum of cash positions of self-financing entities, such as SoftBank Corp. (including its subsidiaries such as LY Corporation and
PayPay Corporation), SVF1, SVF2, LatAm Funds, and Arm, as well as SB Northstar. Cash and cash equivalents, bond investments, and a part of interest-bearing debt except for margin loans and prime brokerage loans of SB Northstar
are included in the net interest-bearing debt of SBG. There is no balance of margin loans and prime brokerage loans of SB Northstar as of March 31, 2024.
Other adjustments: the sum of adjustments of (g) to (m) below(g) Among the hybrid bonds and hybrid loans with a redemption date, the entire amount is recorded as interest-bearing debt in consolidated accounting. Therefore, 50% is deducted from the interest-bearing debt (to be treated as equity).
Applicable bonds: 4th JPY-denominated hybrid bonds, 5th JPY-denominated hybrid bonds, 6th JPY-denominated hybrid bonds(h) Among the hybrid bonds, the perpetual bonds without a redemption date are recorded in their entirety as equity in consolidated accounting. Therefore, 50% is included in the interest-bearing debt.
Applicable bond: USD-denominated NC10 undated hybrid notes(i) Deduction of financial liabilities related to prepaid forward contracts (collar contracts and forward contracts) using Alibaba shares.
(j) Deduction of the equivalent amount of outstanding liabilities for margin loans, etc. using SBKK shares.
(k) Deduction of financial liabilities related to prepaid forward contracts (collar contracts) using T-Mobile shares.
(l) Deduction of financial liabilities recorded as borrowings related to collar transactions using Deutsche Telekom shares.
(m) Deduction of the amount equivalent to the outstanding balance of the borrowings made through margin loans using Arm shares.

4 LTV（Loan-to-Value)
LTV = Adjusted SBG stand-alone net interest-bearing debt / Adjusted SBG stand-alone equity value of holdings*Before considering tax unless otherwise stated- 20 -

債務返済スケジュール | Debt Repayment Schedule
FY2024FY2025

FY2026FY2027

FY2028FY2029FY2030

FY2031

FY2032

7,845

9,990

10,972

5,061

16,085

5,880

5,500

2,177

693

4,500

5,000

5,279

300

-

4,350

5,500

200

-

-

-

-

-

10,291

-

-

-

-

-

1,770

4,050

-

2,220

-

-

-

-

2,505

3,220

1,643

2,111

3,043

1,530

-

1,977

693

-

-

-

2,650

-

-

-

-

-

7,005

9,990

10,972

5,061

15,554

5,880

5,500

2,177

693

ハイブリッドローン*4 | Hybrid Loan*4

840

-

-

-

531

-

-

-

-

(B) ⼩計 | Subtotal

840

-

-

-

531

-

-

-

-

（億円 | 100 millions of JPY）

合計 | Total = (A) + (B)
社債 | Bonds
国内債（シニア）| Domestic (Senior)
国内債（劣後）| Domestic (Subordinated)
国内債（ハイブリッド）*2 | Domestic (Hybrid)*2
外債（シニア）*3| Foreign-currency Denominated (Senior)*3

外債（ハイブリッド）*2*3 | Foreign-currency Denominated (Hybrid)*2*3(A) ⼩計 | Subtotal
タームローン | Term Loan

*1 2024年3⽉末時点の発⾏残⾼。但し、2024年4⽉に発⾏した国内シニア債を含む。バイバックにより取得した社債を除く
Outstanding balance of SBG stand-alone as of March 31, 2024. However, includes domestic senior bonds issued in April 2024. Excludes the repurchased bonds.
*2 ハイブリッド社債︓すべて初回コール⽇に早期償還するケース
Hybrid Bonds: Assumes that the bonds are redeemed on the dates of the first calls.
*3 外債︓スワップを締結しているものはスワップレートにて換算し、それ以外は1⽶ドル=151.41円、1ユーロ＝163.24円にて換算
Foreign-currency Denominated Bonds: Where swap contracts are applicable, the contracted exchange rate is used for translation. USD 1 = JPY 151.41, EUR 1 = JPY 163.24 are used elsewhere.
*4 ハイブリッドローン︓2017年11⽉2⽇付および2023年4⽉7⽇付の劣後特約付⾦銭消費貸借契約に基づくSBGの借⼊。初回コール⽇（期限前弁済可能⽇）に弁済するケース
Hybrid Loan: The loan made by SBG pursuant to the subordinated loan agreement dated November 2, 2017 and April 7, 2023. Assumes that the loan is repaid on the date of the first call.

- 21 -

社債・コマーシャルペーパー明細（単位の表記がない場合 単位︓百万円）

銘柄

通貨

利率
(％、年)

償還期限

2023年3⽉末
発⾏残⾼

2024年3⽉末
発⾏残⾼

2024年3⽉末
B/S残⾼

コマーシャルペーパー

円

ｰ

ｰ

161,000

176,500

第49回無担保普通社債円

2023年4⽉20⽇

1.940

19,500-176,500-

2023年4⽉満期ドル建普通社債

⽶ドル

2023年4⽉20⽇

5.500$164mn--

2023年4⽉満期ユーロ建普通社債-

ユーロ

2023年4⽉20⽇

4.000€635mn-

第52回無担保普通社債円

2024年3⽉8⽇

2.030

47,300--

第51回無担保普通社債 (福岡ソフトバンクホークスボンド)

円

2024年3⽉15⽇

2.030

352,612--

第54回無担保普通社債円

2024年6⽉12⽇

1.569

40,00040,00039,995

第53回無担保普通社債 (福岡ソフトバンクホークスボンド)

円

2024年6⽉14⽇

1.570

410,000

410,000

409,857

2024年7⽉満期ユーロ建普通社債

ユーロ

2024年7⽉6⽇

2.125€640mn€638mn104,0432024年9⽉満期ドル建普通社債

⽶ドル

2024年9⽉19⽇

4.750$783mn$781mn118,1302025年1⽉満期ドル建普通社債

⽶ドル

2025年1⽉6⽇

3.125$450mn$449mn67,7742025年4⽉満期ドル建普通社債

⽶ドル

2025年4⽉20⽇

6.125$340mn$337mn50,8862025年4⽉満期ユーロ建普通社債

ユーロ

2025年4⽉20⽇

4.500€272mn€272mn44,331円

2025年4⽉25⽇

1.640

500,000

500,000

498,957

2025年7⽉満期ドル建普通社債

⽶ドル

2025年7⽉30⽇

6.000$575mn$574mn86,7372025年7⽉満期ユーロ建普通社債

ユーロ

2025年7⽉30⽇

4.750€633mn€633mn103,0912025年9⽉満期ユーロ建普通社債

ユーロ

2025年9⽉19⽇

3.125€702mn€702mn114,344円

2026年4⽉20⽇

2.480

30,00030,00029,969⽶ドル

2026年7⽉6⽇

4.000$673mn$669mn100,816

第57回無担保普通社債円

2026年9⽉11⽇

1.380

100,000

97,90097,752

第56回無担保普通社債 (福岡ソフトバンクホークスボンド)

円

2026年9⽉17⽇

1.380

400,000

400,000

398,270
70,949

第55回無担保普通社債 (福岡ソフトバンクホークスボンド)

第50回無担保普通社債
2026年7⽉満期ドル建普通社債

2027年1⽉満期ユーロ建普通社債

ユーロ

2027年1⽉6⽇

2.875€445mn€437mn

2027年7⽉満期ユーロ建普通社債

ユーロ

2027年7⽉30⽇

5.250€211mn€211mn34,2182027年9⽉満期ドル建普通社債

⽶ドル

2027年9⽉19⽇

5.125$1,666mn$1,657mn

249,795

2028年4⽉満期ドル建普通社債

⽶ドル

2028年4⽉15⽇

6.250$467mn$466mn70,204

2028年4⽉満期ユーロ建普通社債

ユーロ

2028年4⽉15⽇

5.000€1,058mn€1,054mn

171,246

2028年7⽉満期ドル建普通社債

⽶ドル

2028年7⽉6⽇

4.625$803mn$773mn116,262

2029年7⽉満期ユーロ建普通社債

ユーロ

2029年7⽉6⽇

3.375€504mn€473mn76,5752029年9⽉満期ユーロ建普通社債

ユーロ

2029年9⽉19⽇

4.000€584mn€575mn93,301円

2029年12⽉14⽇

2.840

385,000

385,000

381,088

第58回無担保普通社債 (福岡ソフトバンクホークスボンド)
第59回無担保普通社債 (福岡ソフトバンクホークスボンド)

円

2031年3⽉14⽇

3.040

-

550,000

543,187

2031年7⽉満期ドル建普通社債

⽶ドル

2031年7⽉6⽇

5.250$1,350mn$1,305mn

196,018

2032年7⽉満期ユーロ建普通社債

68,721

ユーロ

2032年7⽉6⽇

3.875€446mn€425mn

第4回劣後特約付無担保社債円

2028年9⽉15⽇

2.400

50,00030,10029,978

第3回劣後特約付無担保社債円

2028年9⽉29⽇

2.400

450,000

450,000

445,729543,300

第5回劣後特約付無担保社債円

2029年2⽉2⽇

2.480

550,000

549,000

第2回利払繰延条項・期限前償還条項付無担保社債（劣後特約付）（ハイブリッド債）

円

2043年9⽉16⽇

3.500

15,400--

第4回利払繰延条項・期限前償還条項付無担保社債（劣後特約付）（ハイブリッド債）

円

2056年2⽉4⽇

3.000

177,000

177,000

175,640

第5回利払繰延条項・期限前償還条項付無担保社債（劣後特約付）（ハイブリッド債）

円

2056年6⽉21⽇

2.750

405,000

405,000

398,225

第6回利払繰延条項・期限前償還条項付無担保社債（劣後特約付）（ハイブリッド債）

円

2058年4⽉26⽇

4.750

-

222,000

合計

218,190
6,324,078（参考）※会計(IFRS)上は「その他の資本性⾦融商品」として資本の部に計上
⽶ドル建ノンコール6年永久劣後特約付社債（利払繰延条項付）*2

⽶ドル

なし

6.000

$2,000mn--

⽶ドル建ノンコール10年永久劣後特約付社債（利払繰延条項付）*2

⽶ドル

なし

6.875

$1,750mn$1,750mn

193,199*1 SBG単体の社債・コマーシャルペーパー明細。バイバックにより取得した社債を除く*2 ⽶ドル建永久劣後特約付社債の初回コール⽇は、ノンコール6年が2023年7⽉19⽇、ノンコール10年が2027年7⽉19⽇- 22 -

Corporate Bonds and Commercial Paper Details(Millions of JPY; unless otherwise stated)

Item

Currency

Interest Rate(%, year)

Maturity Date

Mar 31, 2023
Outstanding Balance

Mar 31, 2024
Outstanding Balance

Mar 31, 2024
B/S BalanceCommercial paper

JPY

-

-

161,000

176,500

176,500

49th series Unsecured Straight BondJPY

Apr 20, 2023

1.940

19,500--

USD-denominated Senior Notes due April 2023

USD

Apr 20, 2023

5.500

$164mn--EUR-denominated Senior Notes due April 2023

EUR

Apr 20, 2023

4.000

€635mn--52nd series Unsecured Straight BondJPY

Mar 8, 2024

2.030

47,300--51st series Unsecured Straight Bond (Fukuoka SoftBank HAWKS Bond)JPY

Mar 15, 2024

2.030

352,612--54th series Unsecured Straight Bond

JPY

Jun 12, 2024

1.569

40,00040,00039,99553rd series Unsecured Straight Bond (Fukuoka SoftBank HAWKS Bond)

JPY

Jun 14, 2024

1.570

410,000

410,000

409,857

EUR-denominated Senior Notes due July 2024

EUR

Jul 6, 2024

2.125€640mn€638mn104,043

USD-denominated Senior Notes due September 2024

USD

Sep 19, 2024

4.750

$783mn$781mn118,130

USD-denominated Senior Notes due January 2025

USD

Jan 6, 2025

3.125$450mn$449mn67,774USD-denominated Senior Notes due April 2025

USD

Apr 20, 2025

6.125

$340mn$337mn50,886

EUR-denominated Senior Notes due April 2025

EUR

Apr 20, 2025

4.500

€272mn€272mn44,33155th series Unsecured Straight Bond (Fukuoka SoftBank HAWKS Bond)JPY

Apr 25, 2025

1.640

500,000

500,000

498,957

USD-denominated Senior Notes due July 2025

USD

Jul 30, 2025

6.000

$575mn$574mn86,737

EUR-denominated Senior Notes due July 2025

EUR

Jul 30, 2025

4.750

€633mn€633mn103,091

EUR-denominated Senior Notes due September 2025

EUR

Sep 19, 2025

3.125€702mn€702mn114,34450th series Unsecured Straight BondJPY

Apr 20, 2026

2.480

30,00030,00029,969USD-denominated Senior Notes due July 2026

USD

Jul 6, 2026

4.000

$673mn$669mn100,81657th series Unsecured Straight Bond

JPY

Sep 11, 2026

1.380

100,000

97,90097,75256th series Unsecured Straight Bond (Fukuoka SoftBank HAWKS Bond)

JPY

Sep 17, 2026

1.380

400,000

400,000

398,270

EUR-denominated Senior Notes due January 2027

EUR

Jan 6, 2027

2.875

€445mn€437mn70,949EUR-denominated Senior Notes due July 2027

EUR

Jul 30, 2027

5.250

€211mn€211mn34,218USD-denominated Senior Notes due September 2027

USD

Sep 19, 2027

5.125

$1,666mn$1,657mn

249,795

USD-denominated Senior Notes due April 2028

USD

Apr 15, 2028

6.250

$467mn$466mn70,204EUR-denominated Senior Notes due April 2028

EUR

Apr 15, 2028

5.000

€1,058mn€1,054mn

171,246

USD-denominated Senior Notes due July 2028

USD

Jul 6, 2028

4.625

$803mn$773mn116,262

EUR-denominated Senior Notes due July 2029

EUR

Jul 6, 2029

3.375

€504mn€473mn76,575EUR-denominated Senior Notes due September 2029

EUR

Sep 19, 2029

4.000

€584mn€575mn93,30158th series Unsecured Straight Bond (Fukuoka SoftBank HAWKS Bond)JPY

Dec 14, 2029

2.840

385,000

385,000

381,088

59th series Unsecured Straight Bond (Fukuoka SoftBank HAWKS Bond)JPY

Mar 14, 2031

3.040

-

550,000

543,187

USD-denominated Senior Notes due July 2031

USD

Jul 6, 2031

5.250

$1,350mn$1,305mn

196,018

EUR-denominated Senior Notes due July 2032

EUR

Jul 6, 2032

3.875

€446mn€425mn68,721

4th series Unsecured Subordinated Bond

JPY

Sep 15, 2028

2.400

50,00030,10029,978

3rd series Unsecured Subordinated BondJPY

Sep 29, 2028

2.400

450,000

450,000

445,729

5th series Unsecured Subordinated BondJPY

Feb 2, 2029

2.480

550,000

549,000

543,300

2nd Unsecured Subordinated Bonds with interest deferrable clause and early redeemable option(with a subordination provision) (Hybrid Bonds)

JPY

Sep 16, 2043

3.500

15,400--

4th Unsecured Subordinated Bonds with interest deferrable clause and early redeemable option(with a subordination provision) (Hybrid Bonds)

JPY

Feb 4, 2056

3.000

177,000

177,000

175,640

5th Unsecured Subordinated Bonds with interest deferrable clause and early redeemable option(with a subordination provision) (Hybrid Bonds)

JPY

Jun 21, 2056

2.750

405,000

405,000

398,225

6th Unsecured Subordinated Bonds with interest deferrable clause and early redeemable option(with a subordination provision) (Hybrid Bonds)

JPY

Apr 26, 2058

4.750

-

222,000

Total

218,190
6,324,078(Reference) *Accounted for as equity (other equity instruments) under IFRSs*2

Undated Subordinated NC6 Resettable Notes

USD

N/A

6.000

$2,000mn--

Undated Subordinated NC10 Resettable Notes*2

USD

N/A

6.875

$1,750mn$1,750mn

193,199*1 Corporate bonds and commercial paper details of SBG stand-alone. Excludes the repurchased bonds.
*2 First call dates of undated subordinated resettable notes are July 19, 2023 for NC6 and July 19, 2027 for NC10.

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