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ValuationDiscount to HistoryExpectations (Reverse-DCF)Holdco NAV Tracker
← Holdco NAV tracker

SoftBank Group

Look-through NAV vs. the share price — the "basket" (sum of its stakes + private assets − net debt) against what the market pays for the holdco. The gap is the discount/premium; watch it widen and narrow. S&P 500 · 9984.T.

Discount
-52.4%
NAV / share
¥12536.95
Price
¥5963
z-score
-0.93
Mark-to-mkt
68%
Cheap vs own history:69ᵗʰ percentile of its 3yr discount rangez -1.7 6mz -0.9 1yz +0.4 3y
NAV / share (basket) Share price¥ per share
¥16.0k¥8.2k¥331Sep '23May '24Feb '25Oct '25Jun '26
Discount / premium to NAV over time
+8%+0%-83%Sep '23May '24Feb '25Oct '25Jun '26±1σ normal range (mean -58%)
Look-through basket · ¥71460.6B NAV
Arm Holdings ARM¥52639.3B
74%
SoftBank Corp (telecom) 9434.T¥3981.3B
6%
Other / private / cash (static, 2026-03)¥26220.0Bnet debt ¥11380.0B

Listed core = Arm (~90%) + SoftBank Corp telecom (~40%); net debt folds in the Arm asset-backed margin financing (so the gross Arm stake reconciles). The huge otherNAV is the MOSTLY-UNLISTED Vision Funds — only ~46% of NAV is mark-to-market, so the discount is opinion-dependent. Published NAV ≈ ¥7,029/sh (Mar-2026). T-Mobile/Alibaba/DT excluded — sold or fully collared.

Stake prices + FX live; net debt / private NAV / share counts are estimates — verify against the holdco's NAV statement. Not investment advice.