1、Morningstar Equity Company Report|Report as of 6 Aug 2025 02:11,UTC|Reporting Currency:JPY|Trading Currency:JPY|Exchange:TOKYO STOCK EXCHANGEPage 1 of 24?SoftBank Corp 9434 QQ 5 Aug 2025 17:14,UTCLast Price227.50 JPY5 Aug 2025Fair Value Estimate210.00 JPY12 May 2025 06:25,UTCPrice/FVE1.08Market Cap1

2、0.73 JPY Tril5 Aug 2025Economic MoatTMNarrowEquity Style Box2 Large BlendUncertaintyLowCapital AllocationStandardESG Risk Rating Assessment1;4 Jun 2025 05:00,UTCDan BakerSenior Equity AnalystMorningstar+852 2973 ContentsAnalyst Note(6 Aug 2025)Business DescriptionBusiness Strategy&Outlook(12 May 202

3、5)Bulls Say/Bears Say(6 Aug 2025)Fair Value and Profit Drivers(6 Aug 2025)Economic Moat(11 Feb 2025)Risk and Uncertainty(6 Aug 2025)Financial Strength(6 Aug 2025)Capital Allocation(6 Aug 2025)FinancialsESG RiskRecent Analyst NotesResearch Methodology for Valuing CompaniesImportant DisclosureThe cond

4、uct of Morningstars analysts is governed by Code of Ethics/Code of Conduct Policy,Personal Security Trading Policy(or an equivalent of),and Investment Research Policy.For information regarding conflicts of interest,please visit:http:/ primary analyst covering this company does not own its stock.Repo

5、rting Currency:JPY|Trading Currency:JPYCurrency amounts expressed with$are in U.S.dollars(USD)unless otherwise denoted.1The ESG Risk Rating Assessment is a representation of Sustainalytics ESG Risk Rating.SoftBank Earnings:Mobile Growing Steadily With Nontelecom Business Growing StronglyAnalyst Note

6、 Dan Baker,Senior Equity Analyst,6 Aug 2025SoftBank Corps first-quarter fiscal 2025 revenue increased by 8.0%,with operating profit down 4.3%and net profit down by 9.1%.Excluding one-offs relating to revaluation gains,operating profit was up 6.0%and net profit grew by 0.5%.Why it matters:SoftBanks m