Financial Statements and Related Announcement::First Quarter Results

This English translation of the financial report was prepared for reference purposes only and is qualified in its entirety by the original Japanese version. The financial information contained in this report is derived from our unaudited consolidated financial statements appearing in item 3 of this report.

SoftBank Group Corp.

Consolidated Financial Report

For the Three-Month Period Ended June 30, 2021 (IFRS)

															Tokyo, August 10, 2021
1.	Financial Highlights								(Millions of yen; amounts are rounded to the nearest million yen)
(1)	Results of Operations
														(Percentages are shown as year-on-year changes)
							Income					Net income	Total
			Net sales			Net income	attributable to	comprehensive
				before income tax
										owners of the parent	income
			Amount		%		Amount		%	Amount	%		Amount	%		Amount	%
Three-month period ended	¥1,479,134		15.6		¥1,292,478	55.0	¥932,489	(29.2)		¥761,509	(39.4)		¥996,400	(12.3)
	June 30, 2021
Three-month period ended	¥1,279,973		-		¥834,120	-	¥1,316,421	11.8		¥1,255,712	11.9		¥1,136,007	52.0
	June 30, 2020
			Basic earnings per	Diluted earnings per
			share (Yen)		share (Yen)
Three-month period ended	¥407.86			¥368.10
	June 30, 2021

Three-month period ended

June 30, 2020

Note:

¥615.95¥589.96

• Net sales and income before income tax are presented based on the amounts from continuing operations only. Year-on-year percentage changes in net sales and income before income tax for the three-month period ended June 30, 2020 are not presented because corresponding amounts for the three-month period ended June 30, 2020 are revised and presented respectively.

(2) Financial Position

			Equity	Ratio of equity
	Total assets	Total equity	attributable to	attributable to
	owners of the	owners of the parent
			parent	to total assets (%)
As of June 30, 2021	¥47,185,597	¥12,491,107	¥10,725,545	22.7
As of March 31, 2021	¥45,750,453	¥11,955,593	¥10,213,093	22.3

2. Dividends

			Dividends per share
	First quarter	Second quarter	Third quarter	Fourth quarter	Total
	(Yen)	(Yen)	(Yen)	(Yen)	(Yen)
Fiscal year ended	-	22.00	-	22.00	44.00
March 31, 2021
Fiscal year ending	-
March 31, 2022
Fiscal year ending		22.00	-	22.00	44.00
March 31, 2022 (Forecasted)
Note:

• Revision of the latest forecasts on the dividends: No
• Notes

1. Significant changes in scope of consolidation (changes in scope of consolidation of specified subsidiaries): Yes
   Newly consolidated: None
   Excluded from consolidation: One entity: Boston Dynamics, Inc. Notes:
2. 1. Please refer to page 47 "(1) Significant Changes in Scope of Consolidation for the Three-Month Period Ended June 30, 2021" under "2. Notes to Summary Information" for details.
   2. Foreign subsidiaries prepare stand-alone financial statements only under circumstances where it is necessary under their local laws and practices. Applicability of Cabinet Office Ordinance on Disclosure of Corporate Affairs, etc. Article 19, Paragraph (10), Item (i) to (iii), is determined by using the financial statements.
      On the other hand, for foreign subsidiaries that do not prepare stand-alone financial statements, information on the capital and net assets for those companies is not available. Therefore, Cabinet Office Ordinance on Disclosure of Corporate Affairs, etc. Article 19, Paragraph (10), Item (i) is used to determine whether the companies are the specified subsidiaries.
      The applicability of Cabinet Office Ordinance on Disclosure of Corporate Affairs, etc. Article 19, Paragraph (10), Item (i) is determined based on the percentage of total amount of purchase from SoftBank Group Corp. and dividend paid to SoftBank Group Corp. to total amount of operating revenue of SoftBank Group Corp.
      For fund-type subsidiaries, the amount of net assets based on financial statements prepared in accordance with the corresponding laws and practices is used to determine the applicability of Cabinet Office Ordinance on Disclosure of Corporate Affairs, etc. Article 19, Paragraph (10), Item (ii).
3. Changes in accounting policies and accounting estimates
4. 1. Changes in accounting policies required by IFRSs: No
   2. Changes in accounting policies other than those in [1]: No
   3. Changes in accounting estimates: Yes

Please refer to page 47 "(2) Changes in Accounting Estimates" under "2. Notes to Summary Information" for details.

1. Number of shares issued (common stock)
2. 1. Number of shares issued (including treasury stock):

As of June 30, 2021:	1,722,953,730	shares
As of March 31, 2021:	2,089,814,330	shares

1. Number of shares of treasury stock:

As of June 30, 2021:	9,840,813	shares
As of March 31, 2021:	351,297,587	shares

1. Number of average shares outstanding during three-month period (April-June):

As of June 30, 2021:	1,847,754,990	shares
As of June 30, 2020:	2,026,277,715	shares

• This condensed interim consolidated financial report is not subject to interim review procedures by certified public accountants or an audit firm.
• Note to forecasts on the consolidated results of operations and other items
  Descriptions regarding the future are estimated based on the information that the Company is able to obtain at the present point in time and assumptions which are deemed to be reasonable. However, actual results may be different due to various factors.
  On August 10, 2021 (JST), the Company will hold an earnings results briefing for the media, institutional investors, and financial institutions. This earnings results briefing will be broadcast live on the Company's website in both Japanese and English at https://group.softbank/en/ir/presentations. The Data Sheet will also be posted on the website in a few days at the same site.

SoftBank Group Corp. Consolidated Financial Report

For the Three-Month Period Ended June 30, 2021

(Appendix)
Contents
1. Results of Operations .........................................................................................................................................	P.3
(1) Overview of Results of Operations ..............................................................................................................	P.3
a. Consolidated Results of Operations ...........................................................................................................	P.4
b. Results by Segment ....................................................................................................................................	P.7
	(a) Investment Business of Holding Companies Segment .........................................................................	P.8
	(b) SVF1 and Other SBIA-Managed Funds Segment ..............................................................................	P.15
	(c) SoftBank Segment ..............................................................................................................................	P.24
	(d) Arm Segment ......................................................................................................................................	P.25
	(e) Latin America Fund Segment .............................................................................................................	P.31
	(f) Other....................................................................................................................................................	P.32
(2) Overview of Financial Position..................................................................................................................	P.33
(3) Overview of Cash Flows ............................................................................................................................	P.43
(4) Forecasts.....................................................................................................................................................	P.46
2. Notes to Summary Information .........................................................................................................................	P.47
(1) Significant Changes in Scope of Consolidation for the Three-Month Period Ended June 30, 2021...............	P.47
(2)	Changes in Accounting Estimates ...............................................................................................................	P.47
3. Condensed Interim Consolidated Financial Statements and Primary Notes......................................................	P.48
(1)	Condensed Interim Consolidated Statement of Financial Position..............................................................	P.49
(2)	Condensed Interim Consolidated Statement of Income
	and Condensed Interim Consolidated Statement of Comprehensive Income .............................................	P.51
(3)	Condensed Interim Consolidated Statement of Changes in Equity .............................................................	P.53
(4)	Condensed Interim Consolidated Statement of Cash Flows........................................................................	P.57
(5)	Significant Doubt about Going Concern Assumption .................................................................................	P.59
(6)	Notes to Condensed Interim Consolidated Financial Statements ................................................................	P.59

Disclaimer

This material does not constitute an offer to sell, or a solicitation of an offer to buy, limited partnership interests or comparable limited liability equity interests in any fund, including SoftBank Vision Fund 1 and SoftBank Vision Fund 2, managed by a subsidiary of SoftBank Group Corp., including SB Investment Advisers (UK) Limited or its affiliates, or any securities in any jurisdiction, nor should it be relied upon as such in any way.

Notice Regarding PFIC Status

It is possible that SBG and certain subsidiaries of SBG may be a "passive foreign investment company" ("PFIC") under the U.S. Internal Revenue Code of 1986, as amended, for its current fiscal year due to the composition of its assets and the nature of its income. For the fiscal year ended March 31, 2021, we believe that SBG and certain subsidiaries of SBG were PFICs. We recommend that U.S. holders of SBG's shares consult their tax advisors with respect to the U.S. federal income tax consequences to them if SBG and its subsidiaries are classified as PFICs. SBG is not responsible for any tax treatments or consequences thereof with respect to U.S. holders of SBG's shares.

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SoftBank Group Corp. Consolidated Financial Report

For the Three-Month Period Ended June 30, 2021

Definition of Company Names and Abbreviations Used in This Appendix

Company names and abbreviations used in this appendix, unless otherwise stated or interpreted differently in the context, are as follows:

Company names / Abbreviations	Definition
SoftBank Group Corp. or SBG	SoftBank Group Corp. (stand-alone basis)
The Company	SoftBank Group Corp. and its subsidiaries

*Each of the following names or abbreviations indicates the respective company and its subsidiaries, if any.

SB Northstar	SB Northstar LP
SoftBank Vision Fund 1 or SVF1	SoftBank Vision Fund L.P. and its alternative investment vehicles
SoftBank Vision Fund 2 or SVF2	SoftBank Vision Fund II-2 L.P. and its alternative investment vehicles*1
SBIA	SB Investment Advisers (UK) Limited
SBIA US	SB Investment Advisers (US) Inc.*2
SoftBank Latin America Fund	SoftBank Latin America Fund L.P.
Arm	Arm Limited
Alibaba	Alibaba Group Holding Limited
The first quarter	Three-month period ended June 30, 2021
The first quarter-end	June 30, 2021
The fiscal year	Fiscal year ending March 31, 2022
The previous fiscal year	Fiscal year ended March 31, 2021
The previous fiscal year-end	March 31, 2021

Notes:

1. The entities defined as "SoftBank Vision Fund 2" were established for the purpose of holding the investments expected to be owned by "SoftBank Vision Fund 2," a private fund which is expected to admit third-party investors in the future. As of the first quarter- end, SBG is the sole limited partner investing in SoftBank Vision Fund 2.
2. SBIA US is a wholly owned subsidiary of the Company which provides investment advisory services to SBIA.

Exchange Rates Used for Translations

					Fiscal year ending
		Fiscal year ended March 31, 2021	March 31, 2022
USD / JPY	Q1	Q2	Q3	Q4	Q1
Average rate for the quarter	¥107.74	¥105.88	¥104.45	¥106.24	¥110.00
Rate at the end of the period				¥110.71	¥110.58

CHANGES IN PRESENTATION OF CONSOLIDATED STATEMENT OF INCOME AND REPORTABLE SEGMENTS

Establishment of the Latin America Fund Segment

Latin America Fund, which was previously included within "Other," is newly presented as an independent reportable segment from the first quarter in light of the greater financial importance. In line with this, "gain on investments at Latin America Fund," which was previously included in "gain on other investments" in the Consolidated Statement of Income is newly presented as an independent item. Information in the same period of the previous fiscal year has been reclassified and presented accordingly. See "OVERVIEW" under "(e) Latin America Fund Segment" in "b. Results by Segment" in "(1) Overview of Results of Operations" in "1. Results of Operations" for the overview of the segment.

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