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Japanese investment holding company run by Masayoshi Son, owning chip designer Arm and running the Vision Fund tech investment vehicles.
Japanese investment holding company run by Masayoshi Son, owning chip designer Arm and running the Vision Fund tech investment vehicles.
Not an operating company in the usual sense: its reported earnings swing with the value of its investments, mainly Arm and the Vision Fund holdings, plus profit from subsidiaries such as the SoftBank mobile carrier. It funds new bets by borrowing against holdings and selling assets, and has shifted toward large AI commitments including OpenAI.
In one line: A Japanese Berkshire Hathaway for tech, but far more leveraged and volatile.
Moat: none (scale). A concentrated, leveraged bet on tech valuations via Arm and Vision Fund holdings, not an operating moat.
Headquarters: Tokyo, Japan · Founded: 1981 · Employees: 73,677
Size Softbank (9984.T) is a Japan Communication Services company (Specialty Telecommunications) with a market value of $128B, the 8th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,549 on 6 Nov 2026.
Performance Over six months the shares fell 32.0%, against -7.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd lowest of 20 in its peer set.
Growth Revenue grew 8.6% over the last twelve months (peer median +3.7%); the operating margin is -5.4% (peer median 12.2%).
Valuation It trades at 18.5× forward earnings against a peer median of 19.4× (9th cheapest of 18).
Capital Return on invested capital runs 9.2 points below its cost of capital (8.5% WACC).
Credit Softbank has 36 bonds outstanding ($33.1B), rated BB+ by the agencies and trading like B+ at a weighted spread of 493 bp.
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥8.00T | ¥7.80T | ¥7.24T | ¥6.76T | ¥6.57T |
| Revenue growth | — | +8% | +7% | +3% | — |
| Gross profit | ¥4.12T | ¥4.02T | ¥3.75T | ¥3.54T | ¥3.33T |
| EBITDA | ¥513B | ¥914B | ¥1.60T | ¥1.37T | ¥1.27T |
| Net income | ¥4.91T | ¥4.98T | ¥1.13T | -¥250B | -¥1.01T |
| Free cash flow | -¥4.60T | -¥3.49T | ¥119B | -¥144B | ¥35.7B |
| Capital expenditure | ¥2.73T | ¥1.73T | ¥854B | ¥623B | ¥634B |
| Total debt | ¥28.0T | ¥25.9T | ¥19.1T | ¥21.6T | ¥20.7T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Softbank 9984.T | $128B | -32% | +9% | -5% | 18.5× | n/a |
| Berkshire Hathaway BRK-B | $1.22T | +20% | +4% | 16% | 26.0× | n/a |
| Tencent 0700.HK | $482B | -11% | +16% | 32% | 12.5× | 6.4% |
| Prosus PRX.AS | $83.9B | -3% | +45% | 3% | 10.1× | 55.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 9984.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -43.6% | +0.9% | lowest of 21 |
| 6-month return | -32.0% | -7.3% | 3rd lowest of 20 |
| Distance from 52-week high | -60.9% | -21.4% | 2nd lowest of 21 |
| Revenue growth (TTM) | +8.6% | +3.7% | 6th highest of 21 |
| Operating margin | -5.4% | 12.2% | 3rd lowest of 21 |
| Forward P/E | 18.5× | 19.4× | 9th cheapest of 18 |
| ROIC minus cost of capital | -9.2 pp | -0.5 pp | 3rd lowest of 21 |
| EV / EBITDA | 87.6× | 8.3× | most expensive of 16 |
| Net debt / EBITDA | 42.4× | 2.0× | most indebted of 17 |
| Bond spread | 493 bp | 109 bp | widest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Softbank 9984.T | Japan | $128B | -32% | +9% | -5% | 18.5× | n/a | n/a |
| Ntt 9432.T | Japan | $86.6B | +5% | +8% | 12% | 12.7× | n/a | n/a |
| China Mobile 0941.HK | Hong Kong | $227B | -2% | +4% | 19% | 11.3× | -16.3% | +5.7% |
| EchoStar ECHO | United States | $27.5B | -26% | -20% | 11% | 25.5× | n/a | n/a |
| Telefonica TEF.MC | Spain | $21.4B | -16% | -11% | 5% | 10.8× | 11.7% | -4.0% |
| China Tower 0788.HK | Hong Kong | $20.2B | -18% | +4% | 20% | 9.7× | -1.0% | +3.6% |
| Telia TELIA.ST | Sweden | $19.2B | 0% | 0% | 18% | 21.1× | -1.1% | -1.9% |
| China Satellite Communications 601698.SS | China | $13.9B | -40% | -2% | 10% | n/a | 40.0% | -0.3% |
| AST SpaceMobile ASTS | United States | $12.6B | -57% | +2,257% | -410% | n/a | n/a | n/a |
| Space Exploration Technologies SPCX | United States | $1.82T | n/a | +33% | -11% | 38.4× | n/a | n/a |
| Infrastrutture Wireless Italiane INW.MI | Italy | $7.39B | +1% | +1% | 53% | 19.4× | 8.2% | +10.2% |
| ASR Microelectronics 688220.SS | China | $6.56B | +6% | +28% | 1% | 170.1× | n/a | n/a |
| 1&1 1U1.DE | Germany | $5.79B | +7% | +8% | 3% | 34.4× | 12.5% | +1.8% |
| Iridium Communications IRDM | United States | $4.68B | +6% | +4% | 19% | 64.8× | 21.0% | +8.4% |
| PLDT, Inc. Sponsored ADR PHI | United States | $3.88B | -11% | -2% | 22% | 8.7× | -2.9% | +0.8% |
| freenet FNTN.DE | Germany | $3.06B | -7% | +10% | 14% | 11.4× | -11.3% | -1.1% |
| Helios Towers HTWS.L | United Kingdom | $3.05B | -8% | +6% | 36% | 30.1× | 13.4% | +15.0% |
| U-NEXT 9418.T | Japan | $2.04B | +17% | +20% | 6% | 17.6× | 0.4% | +17.7% |
| StarHub CC3.SI | Singapore | $1.41B | +4% | -8% | 5% | 48.0× | 7.2% | +3.0% |
| CITIC Telecom International 1883.HK | Hong Kong | $1.14B | -14% | 0% | 12% | 9.2× | -10.5% | +1.4% |
| Guomai Technologies 002093.SZ | China | $1.08B | -14% | +3% | 24% | n/a | 11.7% | +6.5% |
Softbank has 36 bonds outstanding with $33.1B face value. The agencies rate it BB+; its bonds trade like B+. Weighted yield 9.04%, a spread of 493 bp over government bonds.