Japan's SoftBank Group (SBG) posted the largest annual net profit in the history of Japanese corporations on the back of returns from artificial intelligence (AI) investments. The surge in the corporate value of OpenAI, a core investment destination, appears to have driven the improvement. However, there is also an assessment that borrowing pressure is growing for further investment expansion ahead.
According to Japanese media including the Nikkei on the 13th, SBG recorded 5 trillion 22 billion yen (about 47 trillion won) in net profit on a consolidation basis for fiscal 2025 (April 2025–March 2026). That is more than four times the previous year's level and the largest net profit on record among Japanese corporations.
At the center of the improvement was its investment in OpenAI. SBG reflected about 6 trillion 730 billion yen in valuation gains as the value of the OpenAI equity it holds through the Vision Fund jumped sharply. Since the ChatGPT boom, global AI investment competition has intensified, sending OpenAI's corporate value surging.
As of the end of March this year, SBG had invested a total of $34.6 billion in OpenAI and plans to expand its cumulative investment to around $64.6 billion by year-end. The industry sees Chair Masayoshi Son as having identified AI as the next core growth pillar and embarking on an aggressive bet.
Total investment profit at the Vision Fund also jumped to around 6 trillion 990 billion yen. Investment returns related to PayPay, an easy-payment affiliate listed on the U.S. Nasdaq, also came in at about $2.3 billion, bolstering results.
Annual revenue was 7 trillion 798.6 billion yen, showing growth in the 7% range from a year earlier. CFO Goto Yoshimitsu said at the settlement of account briefing that OpenAI "is continuing growth beyond expectations."
However, concerns are being raised about financial burdens stemming from the aggressive expansion of AI investments. SBG's investment cash flow posted a deficit of more than 4 trillion yen in the fourth quarter of last year. The company is expected to move to raise large-scale funds to pursue additional investment in OpenAI and acquisitions such as the Swiss ABB robot business.
The Nikkei reported that SBG is also pushing a plan to add content related to "AI" and "semiconductors" to its business purposes in the articles of incorporation at the shareholders meeting in June.