アニュアルレポート2017

Transcription

1 2017 ANNUAL REPORT

2 ANNUAL REPORT 2017 IFRS IFRS IFRS IFRS 89 TM and 2017 Apple Inc. All rights reserved. Apple iphoneapple Inc. iphone App Store Apple Inc.

3 ANNUAL REPORT

4 ANNUAL REPORT

5 ANNUAL REPORT Ziff Communications Company Ziff-Davis Publishing Yahoo! Inc. NEC Oh! PC MZ Oh! MZ 1982

6 ANNUAL REPORT * 1, 年 2017年 3 月期 3 月期 日本基準 IFRS * Yahoo! Inc. Yahoo! JAPAN No. 1 25,640 9, Alibaba.com Corporation Alibaba Group Holding Limited 2011 年 3 月期売上高純利益 * 1 = GAAP 2017 年 3 月期

7 ANNUAL REPORT Yahoo! BB * 2006 日本基準 IFRS 7, 年度 * iphone EBITDA 年度

8 ANNUAL REPORT AI IoT* * IoT Internet of Things

9 ANNUAL REPORT * * Arm Holdings plc IoT IoT OneWeb LEO OneWebOneWeb

10 ANNUAL REPORT IoT

11 ANNUAL REPORT

12 ANNUAL REPORT

13 ANNUAL REPORT User Guide CLICK P.001 P.012 P.022 P.012 P.016 P.020 P Graphs CEO CEO, Arm Holdings plc P P.018 P CSR P P.181 President and CEO, Sprint Corporation

14 ANNUAL REPORT

15 ANNUAL REPORT AI Yahoo! BB ADSL NTT ,9623, %

16 ANNUAL REPORT ,000km OneWeb30 11,200km 800 IoT IoT SoftBank Vision Fund SVF SVF SVF SVF IoT OneWeb PIF SVF SVF

17 ANNUAL REPORT SVF OneWeb Boston Dynamics Guardant HealthDidi Chuxing CEOSVF CEO3 PIF

18 ANNUAL REPORT CEO , , SoftBank Y!mobile SoftBank 3 36 Y!mobile SoftBank 20GB SoftBank MVNO ,000 8, SoftBank Yahoo! 10 SoftBank Y!mobile

19 ANNUAL REPORT OTT Yahoo! 462 SoftBank Y!mobile OTT iphone KDDI NTTiPhone OTT Yahoo! JAPAN Yahoo! JAPAN % 5, G 5G 5G Massive MIMO 5G IoT AI 5G COO IoT ICT DNA IoT AI

20 ANNUAL REPORT EBITDA Unlimited Freedom LTE Plus Sprint Boost President and CEO, Sprint Corporation 2016 Verizon AT&T % 1 LTE Plus

21 ANNUAL REPORT T-Mobile Verizon AT&T 1 Nielsen* 204MHz GHz 160MHz 2.5GHz 2.5GHz UE HPUE Sprint Magic Box HPUE 2.5GHz GHz HPUE Sprint Magic Box Airspan LTE Sprint Magic Box 2.5GHz 3 3 HPUE Sprint Magic Box Moody's EBITDA ( 億ドル ) * Nielsen 年度 20 4

22 ANNUAL REPORT アーム アームが技術ライセンスをパートナーへ供与テクノロジー ライセンス料 事業開発 半導体パートナー CEO, Arm Holdings plc チップのロイヤルティー パートナーがチップを開発 OEM 顧客 OEM が最終製品を販売

23 ANNUAL REPORT AI IoT VRAR IoT IoT IoT IoT IoT ,000 * >90% >90% 17% >40% <1% >20% 30% >40% 10% >20% *

24 ANNUAL REPORT AI SVF SVF SVF SVF IoT AI SVF 5 * 1 12 * 1 SVF Apple Inc. Foxconn Technology Group Qualcomm Incorporated SoftBank Investment Advisers CEO UBS Group AG FICC Fortress Investment Group SB Group US, Inc MIT Sloan School of Management MBA

25 ANNUAL REPORT SVF 100 SoftBank Investment Advisers* 2 情報革命の同志的結合グループへ SoftBank Investment Advisers CEO SVF SVF * 1 * 2 Financial Conduct Authority No. 1 SVFSVF SVF SVF

26 ANNUAL REPORT Essential Information

27 ANNUAL REPORT Sprint Corporation % 83.0 % 43.0 % Brightstar Global Group Inc. Arm Holdings plc 87.1% 100 % Alibaba Group Holding Limited 29.5 % * * 100West Raptor Holdings, LLC Mandatory Exchangeable TrustAlibaba Group Holding Limited

28 ANNUAL REPORT 2017 の 営 ン ン 業 026 Graphs I 売上高 調整後 EBITDA 調整後 EBITDA マージン 営業利益 営業利益率 調整後 EBITDA 調整後 EBITDA マージン 営業利益 営業利益率 ( 億円 ) 100,000 75,000 50,000 27,762 26,730 27,634 25,000 30,046 32,024 32,025 66,667 85,041 88,818 89,010 ( 億円 ) (%) ( 億円 ) 28,000 25, ,000 23,252 21,000 14,000 7, ,267 6, , , ,137 11,527 17, , ,000 6,000 3, , , , , , ,994 10, , , , (%) ( 年度 ) 日本基準 IFRS 2016 年度売上高前年度末比 0.2% 増 ( 年度 ) 0 日本基準 IFRS 2016 年度調整後 EBITDA 前年度末比 10.3% 増 調整後 EBITDA マージン 28.8% ( 年度 ) 0 日本基準 IFRS 2016 年度営業利益前年度末比 12.9% 増 営業利益率 11.5% 親会社の所有者に帰属する純利益 ( 当期純利益 ) 売上高純利益比率 親会社の所有者に帰属する純利益 ( 当期純利益 ) 2016 年度 親会社の所有者に帰属する純利益前年度比 200.8% 増 売上高純利益比率 ROA ROE ( 億円 ) (%) ( 円 ) (%) 16, , , , , ,725 5, ,138 4, ,897 1, ( 年度 )0 日本基準 前年度比 200.8% 増 16.0% 売上高純利益比率 16.0% IFRS 14, 基本的 1 株当たり純利益 (1 株当たり当期純利益 ) 1,400 1, 日本基準 IFRS 2016 年度基本的 1 株当たり純利益 希薄化後 1 株当たり純利益 , ( 年度 ) 1, 円 1, 円 ROA ROE 年度 日本基準 % 46.0% ROA 6.3% ROE 46.0% ( ) 年度の に IFRIC 21 の に す 2. ン ー 2015 年 6 1 日 会社 に 会社 に 2015 年 4 1 日 2015 年 6 1 日の 社の純 益 業に る 2014 年度の 社の純 益に 業に す 当社 有する ン ー の に 2016 年 6 23 日 ン ー の に 本 年 7 21 日に 当社 有する ン ー の 245,592,400 に 本 の 2016 年 8 16 日 ン ー 会社 3. 当社 2016 年 29 日に 有する ー ー の の Tencent Holdings Limited の 会社に売 に 2016 年 7 29 日 の期 の 社の純利益 業に る 2015 年度の純利益に 業に す IFRS ( 年度 )

29 ANNUAL REPORT 2017 の シ ン 財務 シ ン 027 Graphs II 資産合計 ( 総資産 ) ( 億円 ) 250, , , ,000 72,182 45,589 43,867 44,629 46,557 48,997 50, 年度末資産合計 166, ,342207, 兆 6,342 億円 前年度末比 246, ( 年度末 ) 日本基準 IFRS 19.0% 増 親会社の所有者に帰属する持分 ( 自己資本 ) 親会社所有者帰属持分比率 ( 自己資本比率 ) ( 億円 ) 親会社の所有者に帰属する持分 ( 自己資本 ) 40,000 30,000 20, ,000 3, , , , , 日本基準 IFRS 親会社所有者帰属持分比率 ( 自己資本比率 ) (%) 年度末親会社の所有者に帰属する持分前年度末比 37.2% 増 親会社所有者帰属持分比率 14.6% ,128 19, ,463 26, , ( 年度末 )0 1 株当たり親会社所有者帰属持分 (1 株当たり純資産 ) ( 円 ) 4,000 3,000 2,000 1, , , , , , ( 年度末 ) 日本基準 IFRS 2016 年度末 1 株当たり親会社所有者帰属持分 3, 円 純有利子負債 ネットレバレッジ レシオ財務費用 インタレスト カバレッジ レシオ純有利子負債ファイナンス リースネットレバレッジ レシオ財務費用インタレスト カバレッジ レシオ ( 億円 ) 125, ,076 ( 倍 ) 10 ( 億円 ) 5,000 4,407 4,673 ( 倍 ) 25 信用格付け A/A2 ボーダフォン日本法人買収スプリント買収アーム買収 100,000 75, , ,218 24,024 19,410 25,000 20,369 19,395 15, 年度末純有利子負債 09 日本基準 ネットレバレッジ レシオ ,192 12, ,105 5, , , , IFRS 92, 兆 2,076 億円 4.2 倍 ( 年度末 ) 0 4,000 3,000 2,000 1, , ( 年度 )0 日本基準 IFRS 2016 年度財務費用 6.0 1, , ,040 インタレスト カバレッジ レシオ ,673 億円 5.5 倍 ( 年 ) ( ) 年度の に IFRIC 21 の 用にす 2. ン ー 2015 年 6 1 日 子会社 に持分 用 会社 に2015 年 4 1 日 2015 年 6 1 日の 社の純 に 分 る2014 年度の 社の純 に に 分 す 社 有する ン ー の に2016 年 6 23 日 ン ー 自己 の に 本 年 7 21 日に 社 有する ン ー の 245,592,400 に 本 の2016 年 8 16 日 ン ー 持分 用 会社 3. 社 2016 年 29 日に 有するスー ー の のTencent Holdings Limitedの 会社に に2016 年 7 29 日 の の 社の純利 に 分 る2015 年度の純利 に に 分 す , , A /A3 BBB+/Baa1 BBB/Baa2 BBB /Baa3 BB+/Ba1 BB/Ba2 BB /Ba3 B+/B1 JCR(A ) S&P(BB+) Moody s (Ba1)

30 ANNUAL REPORT 2017 営 シ 財務 シ 業 028 Graphs III キャッシュ フロー 営業活動によるキャッシュ フロー財務活動によるキャッシュ フロー ( 億円 ) 40,000 投資活動によるキャッシュ フロー 30,000 23,594 17,199 20,000 11,552 10,000 4,479 6,681 8,258 7,402 8,130 8,602 9,402 4,715 1,583 2,847 2,103 1, ,225 2,663 2,772 2,644 3,757 1,967 3,977 8,741 10,000 16,673 16,517 20,000 27,182 30,000 23,807 15,007 42,136 50, ( 年度 ) 日本基準 IFRS フリー キャッシュ フロー ( 億円 ) 10,000 5,614 3,909 3,646 1, , ,121 7,115 10,000 18,579 20,000 30,000 27,129 40, ( 年度 ) 日本基準 IFRS 設備投資額 減価償却費及び償却費 設備投資額 ( 億円 ) 16,000 12,000 8,000 4,000 減価償却費及び償却費 2,937 2,203 2,591 2,360 2,439 2,229 4,206 2,249 5,164 2, ( 年度 ) 日本基準 IFRS 7,532 3,551 12,453 8,999 13,534 11,105 10,952 13,735 14,656 9, 年度営業活動によるキャッシュ フロー 1 兆 5,007 億円 2016 年度フリー キャッシュ フロー 2 兆 7,129 億円 2016 年度設備投資額 9,236 億円 投資活動によるキャッシュ フロー 財務活動によるキャッシュ フロー 4 兆 2,136 億円 2 兆 3,807 億円 前年度比 2 兆 0,014 億円 減価償却費及び償却費 1 兆 4,656 億円 1 株当たり配当金 配当性向 時価総額 1 株当たり配当金 配当性向 ( 円 ) ( 年度 ) 0 日本基準 IFRS (%) ( 兆円 ) 年度 1 株当たり配当金中間配当 :22 円 2 期末配当 :22 円 年 ( ) 年度 に IFRIC 21 金 に 及 2. ー 2015 年 6 1 より たに り た に 2015 年 年 6 1 業に る 2014 年度 に 及 業に 当 る ー 株 に 2016 年 6 23 より ー た 株 に た 年 7 21 に 当 る ー 株 245,592,400 株に た 2016 年 8 16 ー た 3. 当 2016 年 29 に る ー ー 株 Tencent Holdings Limited に 却 た に 2016 年 7 29 業に る 2015 年度 に 及 業に

31 ANNUAL REPORT ,544,219 2,776,169 2,673,035 2,763,406 3,004,640 3,202,436 EBITDA , , , , ,730 1,013, , , , , , , , , , , , , , ,625 43,172 96, , , ,310,853 4,558,902 4,386,672 4,462,875 4,655,725 4,899, , , , , , , ,544,404 2,532,969 2,400,391 2,195,471 2,075,801 1,568, ,158,149 2,036,879 1,939,521 1,501,074 1,209, , , , , , , , (2,097,937) (322,461) (266,295) (277,162) (264,448) (375,656) ,718, ,727 (210,348) (159,563) (397,728) (196,667) (65,277) 113,517 (31,169) 230, , , , , , , ,155 1,014,559 EBITDA % % ROA % ROE % % * ,055,704 1,080,501 1,080,855 1,082,329 1,082,350 1,098, * ,804 19,040 21,048 21,885 21,799 22,710 * 1 11 * SFJ Capital Limited 1. IFRSIFRS IFRIC ,592, Tencent Holdings Limited

32 ANNUAL REPORT ,202,536 6,666,651 8,504,135 8,881,777 8,901,004 EBITDA ,152,741 1,778,492 2,041,633 2,325,153 2,564, ,399 1,077, , ,907 1,025, , ,049 1,213, , , , , , ,172 1,426, ,218,172 16,690,127 21,034,169 20,707,192 24,634, ,612,756 1,930,441 2,846,306 2,613,613 3,586, ,707,853 9,170,053 11,607,244 11,922,431 14,142, ,257,806 7,059,286 8,182,817 9,248,363 11,207, , ,245 1,155, ,186 1,500, (874,144) (2,718,188) (1,667,271) (1,651,682) 4,213, ,477 2,359,375 1,719,923 43,270 2,380, , ,433 1,295,163 (689,046) 386, ,439,057 1,963,490 3,258,653 2,569,607 2,183,102 EBITDA % % ROA % ROE % % * , , , , , , , ,191,500 1,188,456 1,189,197 1,146,900 1,089, * ,891 70,336 66,154 63,591 68,402 IFRS

33 ANNUAL REPORT % 39.9% 9.4% 14.3% 1.2% Wireless City Planning & IP ( 億円 ) ( 億円 ) 38,716 ( 億円 ) ( 億円 ) ( 億円 ) 40,000 40,000 36,234 10,000 31,447 31,938 8,535 16,000 14,204 12,954 1,200 30,000 30,000 7,500 6,520 12, ,000 20,000 5,000 8, 年 9 月 6 日より反映 1,129 10,000 10,000 2,500 4, ( 年度 ) ( 年度 ) ( 年度 ) ( 年度 ) ( 年度 ) ( 億円 ) (%) ( 億円 ) (%) ( 億円 ) (%) ( 億円 ) ( 億円 ) (%) 8,000 6,884 7,196 1,864 2, , , , , , , 年 15 4, , 月 6 日 , より反映 , ( 年度 ) ( 年度 ) ( 年度 ) ( 年度 ) ( 年度 ) 0

34 ANNUAL REPORT % 3 177, Wireless City Planning* , , Sprint Corporation* , Sprint Communications, Inc.* 2 3 1,180, * , Yahoo! JAPAN , , Brightstar Global Group Inc Brightstar Corp & ICT ICT Arm Holdings plc Arm PIPD Holdings One, LLC* 4 * , Arm PIPD Holdings Two, LLC* 4 * , Arm Limited 3 1, IP * 5 * * 5 * SB Group US, Inc SoftBank Group Capital Limited* 7 3 1,

35 ANNUAL REPORT % SB 3 2, * , SBBM , ITITmedia JASDAQ 3 1, SoftBank Ventures Korea Corp , SoftBank Korea Corp. 12 2, Starburst I, Inc SoftBank Holdings Inc SoftBank America Inc STARFISH I PTE. LTD , SB Pan Pacific Corporation 3 48, Hayate Corporation 3 77, West Raptor Holdings, LLC* 4 * 5 * 9 3 1,251, * Wireless City Planning * Sprint CorporationStarburst I, Inc.Sprint Corporation Sprint Communications, Inc. * * 4 * 5 * * SoftBank Group International LimitedSoftBank Group Capital Limited * * 9 100West Raptor Holdings, LLC Mandatory Exchangeable Trust

36 ANNUAL REPORT % 3 37, , Foxconn Ventures Pte. Ltd.* EC HIKE GLOBAL PTE. LTD , Renren Inc. 12 1, SNS Alibaba Group Holding Limited* 9 3 1, Alibaba.com Taobao.com Tmall.com InMobi Pte. Ltd * SB CHINA HOLDINGS PTE LTDSOFTBANK GROUP CAPITAL APAC PTE. LTD SOFTBANK GROUP CAPITAL APAC PTE. LTD.Foxconn Ventures Pte. Ltd. * 11 * 12 SoftBank Capital Fund 10 L.P. A 122, , SoftBank Capital Fund 14 L.P. A 46,000 45, SoftBank Capital Technology Fund III L.P. B 232, , * 11 AB A * 12

37 ANNUAL REPORT Management Organization

38 ANNUAL REPORT IT 1 IoT IT 2001 IT 300

39 ANNUAL REPORT Alibaba.com Corporation Alibaba Group Holding Limited, Director CEO CEO Sprint Corporation, Chairman of the board Arm Holdings plc, Chairman & Executive director COO COO Brightstar Global Group Inc., Director CEO Interactive Systems Corp., President Phoenix Technologies Ltd., CEO SoftBank Holdings Inc., Director and President Sprint Corporation, Vice Chairman of the board Brightstar Global Group Inc., Director Chairman Arm Holdings plc, Director

40 ANNUAL REPORT USA Wireless, Inc, Owner Small World Communications, Inc., President 1997 Brightstar Corp. Chairman & CEO 2005 One Laptop Per Child, Inc., Co-founder 2008 Bolivar Administracion, Inversiones Y Servicios Asociados S.R.L., Owner 2014 Sprint Corporation, Member of the board 2014 Miami Beckham United, Founder 2014 Sprint Corporation, President & CEO 2015 CTIA, Member of the board 2015 My Brother s Keeper Alliance, Member of the board 2016 CTIA, Vice chairman of the board 2017 Chairman of the board Los Alamos National Laboratory 1986 Realty Technologies Pty Ltd 1991 Merrill Lynch Bank of America Merrill Lynch 1997 Deutsche Bank AG, Managing director 2001 Global Head of Credit, Emerging Markets 2006 University of Pennsylvania, Member of the Engineering Board of Overseers 2009 UBS Group AG 2010 Global Co-Head of Fixed Income, Currencies and Commodities 2014 Fortress Investment Group LLC, Senior Managing director and Partner , Head of Strategic Finance 2017 SoftBank Investment Advisers,* CEO Arm Holdings plc 2001 Vice President, Engineering 2004 Executive Vice President, World Wide Sales 2005 Executive director 2007 EVP and GM, Physical IP Division 2013 President 2013 CEO 2015 Dolby Laboratories, Inc., Non-Executive director China PagesPresident MOFTEC EDI Centre, President Alibaba.com Corporation Alibaba Group Holding Limited, Director Director, Chairman of the board and CEO Chairman and CEO Alibaba.com Limited, Non-Executive director, Chairman Alibaba Group Holding Limited, Executive Chairman * SoftBank Investment Advisers SoftBank Vision Fund 100%

41 ANNUAL REPORT CEO GOV CEO Goldman, Sachs & Co Goldman Sachs-Asia Soros Fund Management LLC, President and CEO MissionPoint Capital Partners, LLC, Chairman The Goldman Sachs Group, Inc., Vice chairman 2012 Goldman Sachs Asia Pacific, Chairman The Goldman Sachs Group, Inc., Senior director 2017 Goldman, Sachs & Co., Senior director Saudi Fransi Capital LLC, CEO and board member 2014 Saudi Stock Exchange Tadawul, Board member 2015 Public Investment Fund PIF of Saudi Arabia, Managing director and board member 2016 Uber Technologies Inc., Board member 2016 Saudi Aramco, Board member 2016 Saudi Industrial Development Fund, Board member 2017

42 ANNUAL REPORT MBA PwC

43 ANNUAL REPORT Q&A GCO CCO CSR CCO CCO CCO 1.

44 ANNUAL REPORT GCO CCO GCO CCO * GCO CCO CCO GCO GCO CCO GCO CCO * CCO e e

45 ANNUAL REPORT BCP 2016 BCP

46 ANNUAL REPORT GCISO CISO e GCISO CISO AI

47 ANNUAL REPORT CSR CSR CSR 3 CSR * * Pepper Pepper 3 Pepper Pepper ,000 Pepper 9 1,000 Pepper Pepper 28 Pepper

48 ANNUAL REPORT Financial Section

49 ANNUAL REPORT , SVF SVF 1

50 ANNUAL REPORT SVF SVF SVFSVF SVF SVF * SVF SVF SVF * ネットレバレッジ レシオ ( 倍 ) 倍 ( ボーダフォン買収直後 ) EBITDA * 2 EBITDA 倍 * 2 50EBITDA 倍 年 1. EBITDA EBITDA EBITDAEBITDA

51 ANNUAL REPORT % ,881,777 8,901,004 19, ,907 1,025, , , ,526 (206,635) (22.5) , , , , , , ,241 1,474, , ,172 1,426, , Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q , ,901, , ,025,999 31,183124,938 12,919 59,441 32,968 8,763 10,047 30,260 売上高 ( 億円 ) 100,000 75,000 50,000 25,000 85,041 88,818 89,010 営業利益 営業利益率 調整後 EBITDA 調整後 EBITDA マージン ( 億円 ) (%) 30, ,645 23, ,500 20, ,000 7,500 9, , , 年度 年度 0 EBITDA EBITDA

52 ANNUAL REPORT , ,526 d 252,815 12,788 a 26, , , b 53, , * 1 IFRS 4, ,045 50, ,164 e FVTPL FVTPL 160, ,377 snapdeal.com Jasper Infotech Private Limited Ola ANI Technologies Private LimitedFVTPL IFRS FVTPL IFRS Alibaba Pictures Group Ltd24,734 f 7,419 63,992 * c 238,103 12,428 * 2 * ,903 77, (41,414) 53, (79,278) SOFTBANK GROUP CAPITAL APAC PTE. LTD... (42,540) 272,604, ,300,000294

53 ANNUAL REPORT , ,631 g 207,105422, SOFTBANK GROUP CAPITAL APAC PTE. LTD. APAC Foxconn Ventures Pte. Ltd.Foxconn Technology Group 100 West Raptor Holdings, LLC WRH LLC ,604 WRH LLC , ,012 60, APAC ,799 61, , , Tencent Holdings Limited , ,474, , ,426, Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q

54 ANNUAL REPORT ,174,309 1,433,901 1,385,9581,190, , , % 303, % 225,799 (76.3)% (543,411) 17.4 % 159, % 113, % 20,096 (7.5)% (53,284) 3.1 % 22,195 (2.2)% (20,044) 1.1 % 8,163 (2.1)% (19,651) (0.8)% (5,757) 1.3 % 9,589 (2.4)% (21,213) 2.2 % 16, % 422,677 (29.1)% (207,105) BS 764,234 (764,234) 32,546 (32,546) 60,274 (52,157) 8, ,054 (848,937) 8, ,013 17,899 Wireless City Planning Sprint Corporation 24,845 Brightstar Corp. 7,019 IP Arm Holdings plc 4,748 2,611 * 3 68,402 * 3 267

55 ANNUAL REPORT Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q ,144,650 3,193, , , , , , , , , , , , , ,358 90, , , ,551 68,088 % , , , , , , , , , , EBITDA ,163,337 1,209, , , , , , , , ,341 EBITDA % , ,579 72,664 88,519 89, ,447 50,752 55,438 76, , ,871,647 3,623, , , , , , , , , , ,423 69,588 11,797 (21,897) 1,997 45,368 59,197 40,621 41,237 % , , , , , , , , , , ,668 7,371 (694) 29,908 33,955 16,499 12,277 (19,969) 4,743 10,320 EBITDA ,263 1,079, , , , , , , , ,916 EBITDA % , , , , , ,730 79,200 78, , , , , , , , , , , , , , ,819 48, ,043 42,783 29,109 50,308 49,063 51,173 39,275 % ,695 38,973 5,646 7,287 9,077 10,685 9,167 9,987 9,477 10, (59,441) (19) (59,441) (19) ,736 10,736 EBITDA , ,509 54,498 49,889 51,860 39,794 59,475 59,031 60,650 60,353 EBITDA % ,186 64,727 7,196 16,921 9,904 18,165 12,078 18,421 18,595 15, EBITDA

56 ANNUAL REPORT Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q ,420,416 1,295, , , , , , , , , (1,284) (10,047) 411 3,726 (5,449) 28 6,680 7,625 4,803 (29,155) % ,268 7,237 2,406 3,385 2,590 1,887 1,789 1,768 1,780 1, ,466 30,260 13,633 2,833 30,260 EBITDA ,450 27,450 2,817 7,111 10,774 4,748 8,469 9,393 6,583 3,005 EBITDA % ,158 6,522 1,896 2,086 2,354 2,822 1,148 1,474 1,877 2,023 * ,902 14,356 54,499 44, ,919 (5,123) 15,045 2,997 % ,523 4,476 13,723 14, (18,168) (18,168) ,780 25, EBITDA ,054 6,651 29,082 17,321 EBITDA % , ,828 2, ,881,777 8,901,004 2,066,518 2,214,680 2,322,637 2,277,942 2,126,521 2,145,313 2,309,632 2,319, ,907 1,025, , , , , , , ,965 96,671 % ,373,467 1,465, , , , , , , , , (59,441) (18,187) (59,441) (18,187) ,220 91,046 (694) 35,994 47,588 19,332 19,105 6,776 5,233 59,932 EBITDA ,325,153 2,564, , , , , , , , ,713 EBITDA % ,110, , , , , , , , , ,897 * EBITDA

57 ANNUAL REPORT Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q ,038 32,400 31,570 31,611 31,686 32,038 32,149 32,301 32,230 32, (70) 169 ARPU ,700 4,500 4,660 4,720 4,720 4,680 4,610 4,570 4,530 4,310 ARPU ,150 3,950 4,140 4,190 4,170 4,110 4,050 4,020 3,980 3,760 ARPU % % ,662 11,079 2,198 2,470 3,015 2,979 2,353 2,551 2,939 3, ,441 4,928 1,169 1,212 1,356 1,703 1,154 1,123 1,072 1, ,222 6,151 1,029 1,258 1,659 1,276 1,199 1,428 1,867 1, ,969 6, ,315 2,085 2,969 3,702 4,419 5,149 6, ,438 2, ,038 1,438 1,790 2,158 2,527 2, ,584 42,666 44,417 44,117 43,748 43,584 43,207 43,056 42,826 42, ,038 32,400 31,570 31,611 31,686 32,038 32,149 32,301 32,230 32, ,548 6,910 8,317 8,149 7,891 7,548 7,215 7,045 7,037 6,910 PHS ,998 3,356 4,530 4,356 4,171 3,998 3,842 3,710 3,559 3, ,079 6,145 4,452 4,602 4,847 5,079 5,345 5,600 5,860 6,145 SoftBank ,717 3, ,218 1,717 2,243 2,699 3,141 3,592 Yahoo! BB with ,008 1,385 2,610 2,435 2,225 2,008 1,797 1,641 1,505 1,385 Yahoo! BB ADSL ,354 1,168 1,501 1,452 1,404 1,354 1,305 1,261 1,213 1,168 ARPU SoftBank ,930 4,900 4,270 4,980 5,060 4,940 4,960 4,960 4,910 4,810 Yahoo! BB with ,840 1,810 1,830 1,860 1,830 1,820 1,810 1,810 1,810 1,800 Yahoo! BB ADSL ,640 2,510 2,680 2,660 2,630 2,590 2,560 2,530 2,490 2, SIM 4. PHS PHS 5. SoftBank 6. ARPU(Average Revenue Per User) 1 7. ARPU 8. ARPU

58 ANNUAL REPORT Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q ,806 59,702 57,668 58,578 58,359 58,806 59,453 60,193 59,515 59, ,806 59,702 56,812 57,868 58,359 58,806 59,453 60,193 59,515 59, ,951 31,576 30,016 30,394 30,895 30,951 30,945 31,289 31,694 31, ,316 26,079 24,866 24,928 25,294 25,316 25,322 25,669 26,037 26, ,397 11,992 15,340 15,152 14,661 14,397 13,974 13,547 11,812 11, ,458 16,134 11,456 12,322 12,803 13,458 14,534 15,357 16,009 16, ,669 1, , , (118) (12) (1,309) (1,079) (366) (188) (491) (264) (331) (427) (501) ,733 2, ABPU ARPU % % % ABPU(Average Billings Per User)1 5. ARPU(Average Revenue Per User) (1) 2016 Q (2) ,23421

59 ANNUAL REPORT Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q (Arm7 Arm9 Arm11) Cortex-A Cortex-R Cortex-M Mali ,361 1,442 1,280 1,302 1,348 1,361 1,379 1,396 1,428 1,442 (Arm7 Arm9 Arm11) Cortex-A Cortex-R Cortex-M Mali (Arm7 Arm9 Arm11) % 23% 36% 33% 32% 32% 26% 24% 23% 19% Cortex-A % 19% 17% 17% 18% 18% 19% 19% 16% 22% Cortex-R % 7% 7% 7% 6% 6% 7% 7% 9% 7% Cortex-M % 51% 40% 43% 44% 44% 48% 50% 52% 52% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q ,064 4,852 3,524 3,852 3,975 4,064 4,227 4,438 4,584 4, ,262 3,960 2,765 3,048 3,136 3,262 3,409 3,602 3,736 3, ,609 1,937 1,466 1,529 1,577 1,609 1,695 1,770 1,853 1, , ,020 1,

60 ANNUAL REPORT SoftBank , SoftBank 売上高 ( 億円 ) 40,000 30,000 20,000 10, ,194 31,447 31, 年度 セグメント利益 セグメント利益率 調整後 EBITDA 調整後 EBITDA マージン ( 億円 ) (%) 20, ,000 10, , , ,155 11, ,884 7, 年度 0 EBITDA EBITDA 12, Y!mobile ,405,047 2,423,105 18, ,953,363 1,886,640 (66,723) (3.4) * ,731,989 1,657,629 (74,360) (4.3) * , ,011 7, , ,954 91, , ,511 (7,164) (2.6) , ,686 31, ,144,650 3,193,791 49, * 1 SoftBank Y!mobile * 2 49, ,193,791 18, ,423,105 31, ,686 SoftBank 91, PHS 66, ,886,640 Y!mobile

61 ANNUAL REPORT , ,572 17, , (65,991) (16.1) 32, , , SoftBank SoftBank Y!mobile SUPER FRIDAY* 3 * 3 SoftBank EBITDA 45, ,209, , ,816 EBITDA , Y!mobile GB 30GB , , , Y!mobile SoftBank Y!mobile ARPU ARPU 4, ARPU 3, ARPU Y!mobile ARPUARPU

62 ANNUAL REPORT % 0.11 * % 0.27 MNP * 4 * 4 SIM ,145 1,066 SoftBank 3,592 1,875 Yahoo! BB with 1, Yahoo! BB ADSL 1, SoftBank SoftBank 売上高 ( 億円 ) ( 百万ドル ) 50,000 50,000 40,000 30,000 20,000 38,000 34,532 38,716 36,234 40,000 32,180 33,347 30,000 20,000 セグメント利益 セグメント利益率 調整後 EBITDA 調整後 EBITDA マージン ( 億円 ) (%) 12,000 10, , ,000 6, , , , 年度 0 3, , 年度 0 EBITDA EBITDA IFRS ,728 EBITDA 5,960 8,172 9,931

63 ANNUAL REPORT , ,347 1, , , , (2,037) (11.4) EBITDA 1, , EBITDA 248, ,623, , ,423EBITDA 96, ,079, ,702 1,881 31, , ,992 1,079 16,134 2,149 * * * ,23421

64 ANNUAL REPORT % % ABPU ABPU ARPU ARPU ABPU 売上高 ( 億円 ) 10,000 8,535 7,500 6,520 5,000 4,273 2, 年度 セグメント利益 セグメント利益率 調整後 EBITDA 調整後 EBITDAマージン ( 億円 ) 49.6 (%) 2,395 2, ,228 2,000 1,935 1,960 1,898 2, ,500 1, 年度 0 EBITDA EBITDA * GHz 12 * 6 売上高 ( 億円 ) 20,000 15,000 12,251 10,000 14,204 12,954 セグメント利益 セグメント利益率 調整後 EBITDA 調整後 EBITDA マージン ( 億円 ) (%) , 年度 年度 2 EBITDA EBITDA

65 ANNUAL REPORT IP IC IoT Internet of Things 売上高 ( 億円 ) 1, ,129 セグメント利益 セグメント利益率 調整後 EBITDA 調整後 EBITDA マージン ( 億円 ) (%) ,902 12,919 29, % 18,168 25,780 EBITDA 53, 年 9 月 6 日より反映 年度 年 9 月 6 日より反映 年度 EBITDA EBITDA

66 ANNUAL REPORT ( ) 24,372 3,367, , , ,301 1, , , , ,824 19,189 2,650,911 24,372 3,367, , IoT Arm7 Arm9 Arm11 19% Cortex-A 22% Cortex-R 7% Cortex-M 52%

67 ANNUAL REPORT ,707,192 24,634,212 3,927, % ,201,921 20,164,482 2,962, % ,505,271 4,469, , % (0.49) (0.4)% (21.84) (13.5)% a ,569,607 2,183,102 (386,505) ,914,789 2,121, , , , , , ,344 (18,120) , ,221 (270,330) ,550,269 5,723, ,706 b ,183,507 3,977,254 (206,253) ,055,371 1,926,072 (129,299) ,609,789 4,175,464 2,565, ,691,818 2,691, ,439,145 6,946, ,494 FCC * ,060,750 4,100,651 39, , , , ,806 9, , ,838 (114,431) , , , ,563 (140) , ,934 (59,214) ,844 (59,844) , ,791 54, ,588,270 1,670,799 82, ,874 1,552, , , , , , ,820 (9,654) ,156,923 18,910,237 3,753,314 * 7 FCC ,

68 ANNUAL REPORT c ,646,609 2,694,093 47, ,051,782 1,139,734 87, , , , , , , , ,947 (348,930) ,002 80,002 38, , ,897 (140,051) ,465 (148,465) , , , , ,365 (212,443) ,643 10,354 (4,289) ,879 1,017,462 99, , ,862 21, , ,349 40, , ,522 42, ,537 36,729 (4,808) ,621,195 1,607,453 (13,742) ,531 13,701 7, , , , ,120 56, , ,096 (95,869) ,165,771 5,226,923 61, : 1 1 : 1 1

69 ANNUAL REPORT d ,275,822 12,164,277 2,888, ,995,621 6,378,194 1,382, ,572,011 2,133, , ,423,609 4,244, , ,297,900 4,024, , ,082 1,044, , ,188,238 2,954,300 (233,938) ,580 25,974 (3,606) ,301 1,761, , , ,804 66, , , , ,124 (707) ,063 59,317 (1,746) , , , , ,172 (15,587) , ,730 19, ,083,164 1,941,380 (141,784) , ,771 (41,094) ,036,150 14,937,559 2,901, : 1 971,000 : ,935

70 ANNUAL REPORT Trust Trust Securities West Raptor Holdings, LLC WRH LLC Mandatory Exchangeable Trust Trust Trust 578,43654 Trust WRH LLC ADS Mandatory Exchangeable Trust Securities Trust Securities 66 West Raptor Holdings, LLC Mandatory Exchangeable Trust (Trust Securities) * 1 GIC: GIC Private Limited 100%Temasek: Temasek Holdings Private Limited 100% * 2 WRH LLC Trust 54 Trust Securities 66 Trust Trust SecuritiesTrust Securities APAC GIC Temasek* 1 * , (578,436) 63 (674,023) * Trust Securities 2019 Trust Securities ADS ADS ADS 578, ,023 95, * * , , ,

71 ANNUAL REPORT e ,613,613 3,586, , , ,378 (8,280) ,505,271 4,469, , % 14.6% 2.0 a 560, , , , , , キャッシュ フロー , , , ,706 (15,528) ,166,623 2,958, , (314,752) (67,727) 247, , ,246 (50,490) ,594 11,983 (20,611) (40,088) (44,877) (4,789) , ,140 (25,090) ,613,613 3,586, ,739 ( 億円 ) 30,000 20,000 10, ,000 20,000 30,000 17,199 11,552 16,673 9,402 16, ,007 23,807 40,000 50,000 42, 年度 ,426, % 595, , ,707149, ,807350,

72 ANNUAL REPORT b 2016 c 2016 (923,502) (688,916) 482,128 (3,254,104) 723,544 (503,767) 239,730 (638,914) 283, ,216 4,792,530 2,715,725 1,006, , ,436 (2,283,067) (920,315) (862,281) (459,788) (350,857) 40 1

73 ANNUAL REPORT , ,807350, ,707149, , ,

74 ANNUAL REPORT a. 5 6 b. c.

75 ANNUAL REPORT d. e. Yahoo! Yahoo! JAPAN Y!mobile Yahoo! Yahoo! BB Verizon Communications Inc.* Yahoo! * Verizon Communications Inc.Yahoo! Inc. Yahoo! Verizon Communications Inc

76 ANNUAL REPORT snapdeal. com Jasper Infotech Private Limited Ola ANI Technologies Private LimitedFVTPL Fair Value Through Profit or Loss 160, STARFISH I PTE LTD Jasper Infotech Private Limited 114, SVF 2017 SVF SVFSVF

77 ANNUAL REPORT SVF GP SVF GP Financial Conduct Authority SVF SVFSVF Arm Holdings plc SVF SVF SVF SVFSVF IFRS SVF SVF SVF SVFSVF

78 ANNUAL REPORT ICNIRP WHO ICNIRP ICNIRP FCCWHO 19 Sprint CorporationSprint Communications, Inc. 19DoDDHS DOJ 21

79 ANNUAL REPORT a. IP IP b. IP IP Intel Corporationx86 IoT IoT IP c. d. OEM

80 ANNUAL REPORT e. f. g. h. IP i. Independent Software Vendors ISV ISV ,459 56,033 IP

81 ANNUAL REPORT a ,569,607 2,183,102 $ 19,458, , 25 1,914,789 2,121,619 18,910, , , ,689 7,083, , ,344 3,042, , ,221 2,524, ,550,269 5,723,975 51,020, ,183,507 3,977,254 35,451, ,609,789 4,175,464 37,217, ,439,145 6,946,639 61,918, ,588,270 1,670,799 14,892, , ,874 1,552,267 13,836, , ,994 3,609, , ,820 1,629, ,156,923 18,910, ,555, ,707,192 24,634,212 $219,575,827

82 ANNUAL REPORT , 25 2,646,609 2,694,093 $ 24,013, , 25 1,621,195 1,607,453 14,327, ,531 13, , , ,218 2,283, ,120 56, , , ,096 5,340, ,165,771 5,226,923 46,589, , 25 9,275,822 12,164, ,425, , 25 95, ,229 2,560, , , , , ,730 1,236, ,083,164 1,941,380 17,304, , ,771 2,654, ,036,150 14,937, ,145, ,201,921 20,164, ,735, , ,772 2,128, , ,706 2,190, ,166,623 2,958,355 26,369, (314,752) (67,727) (603,681) , ,246 1,882, ,613,613 3,586,352 31,966, , ,378 7,873, ,505,271 4,469,730 39,840, ,707,192 24,634,212 $219,575,827

83 ANNUAL REPORT b ,881,777 8,901,004 $ 79,338, (5,518,104) (5,472,238) (48,776,522) ,363,673 3,428,766 30,562, (2,374,955) (2,277,251) (20,298,164) ,441 18, , (139,252) (143,703) (1,280,890) ,907 1,025,999 9,145, (440,744) (467,311) (4,165,353) , ,550 2,866, , ,103 2,122, ,788 (252,815) (2,253,454) FVTPL ,377 (160,419) (1,429,887) , 40 (63,992) 7,419 66, , ,526 6,351, (422,677) 207,105 1,846, , ,631 8,197, , ,799 4,945, ,241 1,474,430 $ 13,142, ,172 1,426,308 $ 12,713, ,069 48, , ,241 1,474,430 $ 13,142, $ , $ $ , $11.37

84 ANNUAL REPORT ,241 1,474,430 $13,142, , , , , , , 41 (4,906) 5,628 50, , 41 (31,992) (7,454) (66,441) , 41 (289,735) (20,500) (182,726) , 41 27,642 (30,403) (270,996) (298,991) (52,729) (469,997) (298,649) (40,529) (361,253) ,592 1,433,901 $12,781, ,864 1,385,958 $12,353, ,728 47, , ,592 1,433,901 $12,781,

85 ANNUAL REPORT c , ,845 1,740,686 (48,383) 540,386 2,846,306 1,006,871 3,853, , ,172 84, , (278,308) (278,308) (20,341) (298,649) ,172 (278,308) 195,864 63, , (47,261) (47,261) (46,719) (93,980) (342) (1,316) (266,369) (267,685) (267,685) ,409 54, (96,060) (96,060) (128,912) (128,912) (94,567) (223,479) ,736 15,736 15, (3,457) (3,457) 5,943 2, ,022 3,022 (1,947) 1, (113,611) (48,235) (266,369) (342) (428,557) (178,941) (607,498) , ,234 2,166,623 (314,752) 261,736 2,613, ,658 3,505, , ,234 2,166,623 (314,752) 261,736 2,613, ,658 3,505, ,426,308 1,426,308 48,122 1,474, (40,350) (40,350) (179) (40,529) ,426,308 (40,350) 1,385,958 47,943 1,433, (48,042) (48,042) (43,467) (91,509) ,140 (10,140) (1,479) (348,170) (349,649) (349,649) (595,195) 595, ,218 2, (25,997) (25,997) ,670 1,670 6,189 7, (4,236) (4,236) (4,236) (15,360) (15,360) (15,360) ,398 2,398 8,087 10, (3,253) (3,253) (15,528) (634,576) 247,025 (10,140) (413,219) (56,223) (469,442) , ,706 2,958,355 (67,727) 211,246 3,586, ,378 4,469,730

86 ANNUAL REPORT $2,128,282 $2,328,496 $19,312,087 $(2,805,526) $2,332,971 $23,296,310 $7,947,749 $31,244, ,713,326 12,713, ,933 13,142, (359,658) (359,658) (1,595) (361,253) ,713,326 (359,658) 12,353, ,338 12,781, (428,220) (428,220) (387,441) (815,661) ,382 (90,382) (13,183) (3,103,396) (3,116,579) (3,116,579) (5,305,241) 5,305, ,770 19, (231,723) (231,723) ,885 14,885 55,165 70, (37,757) (37,757) (37,757) (136,911) (136,911) (136,911) ,375 21,375 72,083 93, (28,995) (28,995) (138,408) (5,656,262) 2,201,845 (90,382) (3,683,207) (501,141) (4,184,348) $2,128,282 $2,190,088 $26,369,151 $ (603,681) $1,882,931 $31,966,771 $7,873,946 $39,840,717

87 ANNUAL REPORT d ,241 1,474,430 $13,142, ,401,329 1,472,669 13,126, (59,441) (18,187) (162,109) , ,311 4,165, (375,397) (321,550) (2,866,120) (12,428) (238,103) (2,122,319) (12,788) 252,815 2,253,454 FVTPL (114,377) 160,419 1,429, ,836 (9,511) (84,776) (636,216) (5,670,880) ,984 (91,028) (811,374) (50,740) (275,771) (2,458,071) (404,933) (268,312) (2,391,586) (698) 15, , ,656 46, , ,972,989 2,031,424 18,106, ,072 29, , (461,217) (519,373) (4,629,405) (1,230,087) (359,209) (3,201,792) , ,384 2,837, ,186 1,500,728 13,376,665

88 ANNUAL REPORT (1,360,960) (923,502) $ (8,231,589) ,956 34, , (407,754) (688,916) (6,140,619) , ,128 4,297, (61,670) (3,254,104) (29,005,295) (63,070) 723,544 6,449, (94,349) (503,767) (4,490,302) , ,730 2,136, (45,748) (638,914) (5,694,928) , ,419 2,526, (57,999) 32, , (1,651,682) (4,213,597) (37,557,688) , ,216 3,210, ,129,683 4,792,530 42,717, (1,604,768) (2,283,067) (20,350,004) (267,276) (18,600) (165,790) (269,214) (350,857) (3,127,346) (47,219) (46,273) (412,452) (47,497) (42,599) (379,704) ,426 (30,604) (272,788) ,270 2,380,746 21,220, (20,820) (54,382) (484,731) (689,046) (386,505) (3,445,093) ,258,653 2,569,607 22,904, ,569,607 2,183,102 $ 19,458,971

89 ANNUAL REPORT IFRS IFRS b ,788 c FVTPL ,377 FVTPL a ,428 d ,903 a ,428 b ,788

90 ANNUAL REPORT c FVTPL ,377 FVTPL e ,748 d ,903 f ,907 5 IFRS IFRS 9 IAS 39 IFRS IFRS 15 IAS 11IAS 18 5 a. b. c. d. e. IFRS IFRS 16 IAS 17IFRIC 4 IAS

91 ANNUAL REPORT Arm Holdings plc Sprint Corporation Sprint Communications, Inc. Brightstar Global Group Inc. Clearwire Corporation Supercell Oy Alibaba Group Holding Limited WCP Wireless City Planning 3. 1 a. b. FVTPL FVTPL 3. 4

92 ANNUAL REPORT IFRSIFRS 2 IAS 12 IAS 19 IFRS 2 IFRS 5 3 a. b. 29.

93 ANNUAL REPORT a. FVTPL FVTPL FVTPLFVTPL b. FVTPL a FVTPL FVTPLFVTPL FVTPL FVTPL FVTPL FVTPL b c d FVTPL e FVTPL

94 ANNUAL REPORT f c. FVTPL 1 FVTPL FVTPL FVTPL d. a FVTPL FVTPL b

95 ANNUAL REPORT c FVTPL FVTPL FVTPL FVTPL e

96 ANNUAL REPORT FCC FCC FCC FCC Sprint Boost Mobile MHz a.

97 ANNUAL REPORT b. 11 a. b a. b.

98 ANNUAL REPORT Restricted Stock Unit 17 a.

99 ANNUAL REPORT a b b. ADSL IP e Yahoo YDN Yahoo YDN e

100 ANNUAL REPORT IFRS FVTPL FVTPL FVTPL

101 ANNUAL REPORT b. b 100%SOFTBANK GROUP CAPITAL APAC PTE. LTD. APAC Foxconn Ventures Pte. Ltd. 100% West Raptor Holdings, LLC ,0128,138,087 60,451538, APAC 50% a % % b. c d , A 93, ,441 e , , , , , , , , , B 93, C 54, A (B C) 53,

102 ANNUAL REPORT f , ,291 e , , , ,247 g ,0132,970 2 a. e ,480,68294, % b. c , , , B 23, C 1, A (B C) 72, f (94,341) , (90,325) d , A 94,341 g.

103 ANNUAL REPORT a b. IoT Enterprise and Embedded Intelligence 5 c. a b c d e f g d e. Arm Holdings plc 110 Fulbourn Road, Cambridge CB1 9NJ, United Kingdom CEO Simon Segars IP IFRS ,319,137 $29,584, , , A 3,367,004 $30,011,623

104 ANNUAL REPORT ,780229, % 18,168161,940 f ,984 $ 151, , , ,090 1,061, ,432 6,180, , , ,937 8,137, , , ,622 1,137, ,292 64, ,844 1,754, B 716,093 6,382, A B 2,650,911 $23,628,764 29,379261, ,680 $4,792, ,649 1,324, ,940 52, ,163 10, ,432 $6,180,872 2 g (3,319,137) $(29,584,963) , , , , (3,249,297) $(28,962,448) ,2696,170, ,7141,129, ,0185,018, h ,9021,006,346 17,272153,953

105 ANNUAL REPORT ,278, , ,970,264 $79,956, ,482,045 $13,210, IP SB Group US, Inc EBITDAEBITDA EBITDA 42.

106 ANNUAL REPORT ,106,855 3,688, ,880 1,345,856 8,784,089 97,688 8,881, , ,149 9,151 74, ,655 21,280 (325,935) ,144,650 3,871, ,031 1,420,416 9,088, ,968 (325,935) 8,881, ,389 61, ,787 (1,284) 971,377 (17,310) (45,160) 908,907 EBITDA ,389 61, ,787 (1,284) 971,377 (17,310) (45,160) 908, , ,110 32,695 10,268 1,360,021 11,810 1,636 1,373,467 EBITDA ,163, , ,482 8,984 2,331,398 (5,500) (43,524) 2,282, (59,441) (59,441) (59,441) ,668 16,466 96,134 6, ,220 EBITDA ,163, , ,041 25,450 2,368, (43,524) 2,325, ,156,825 3,459, ,581 1,228, ,901 8,798, ,504 8,901, , ,233 11,877 67, ,400 25,804 (306,204) ,193,791 3,623, ,458 1,295, ,902 9,078, ,308 (306,204) 8,901, , , ,819 (10,047) 12,919 1,098,686 (16,573) (56,114) 1,025,999 EBITDA , , ,819 (10,047) 12,919 1,098,686 (16,573) (56,114) 1,025, , ,845 38,973 7,237 32,523 1,454,036 9,984 1,589 1,465,609 EBITDA ,209,030 1,072, ,792 (2,810) 45,442 2,552,722 (6,589) (54,525) 2,491, (19) (18,168) (18,187) (18,187) ,371 10,736 30,260 25,780 74,147 8,052 8,847 91,046 EBITDA ,209,030 1,079, ,509 27,450 53,054 2,608,682 1,463 (45,678) 2,564,467

107 ANNUAL REPORT $28,138,203 $30,832,891 $7,501,390 $10,946,172 $1,006,337 $78,424,993 $ 913,665 $ $79,338, ,495 1,463, , , ,499, ,002 (2,729,334) $28,467,698 $32,296,773 $7,607,256 $11,546,252 $1,006,346 $80,924,325 $1,143,667 $(2,729,334) $79,338, ,413,869 1,661,672 1,691,942 (89,553) 115,153 9,793,083 (147,723) (500,169) 9,145,191 EBITDA ,413,869 1,661,672 1,691,942 (89,553) 115,153 9,793,083 (147,723) (500,169) 9,145, ,362,760 7,895, ,384 64, ,892 12,960,478 88,992 14,163 13,063,633 EBITDA ,776,629 9,557,608 2,039,326 (25,047) 405,045 22,753,561 (58,731) (486,006) 22,208, (169) (161,940) (162,109) (162,109) ,701 95, , , ,906 71,771 78, ,534 EBITDA $10,776,629 $ 9,623,309 $2,134,852 $ 244,674 $ 472,894 $23,252,358 $ 13,040 $ (407,149) $22,858, ,84778, a ,090,986 4,359,888 $38,861, ,157,020 3,962,325 35,317, , ,791 5,159, ,881,777 8,901,004 $79,338,658 b ,212,343 4,072,675 $ 36,301, ,019,523 7,772,859 69,282, ,720 3,373,592 30,070, ,329 63, , ,424,915 15,282,177 $136,216,926

108 ANNUAL REPORT ,979,642 1,592,709 $14,196, , ,518 3,668,045 MMF , ,149 1,070, ,141 58, , ,569,607 2,183,102 $19,458, , , ,895 $ 2,477, , ,495 4,086, ,949 58, , , ,689 $ 7,083, , ,495 2,054, ,169 1,106,409 9,861, , ,281 2,204, (34,838) (31,918) (284,500) ,874 1,552,267 $13,836, ,320,862 1,493,857 $13,315, , ,164 4,787, , ,031 1,372, (45,306) (63,433) (565,407) ,914,789 2,121,619 $18,910,

109 ANNUAL REPORT , ,077 $2,647, ,379 44, , , ,344 $3,042, ,504 25,300 $225, , ,258 $1,276, ,339 91, , ,221 48, , , ,221 $2,524, , ,805 1,531, ,312 11,015 98, , ,820 $1,629, ,543 5,231, ,822 97, ,732 25,003 6,632, ,727 17, , ,104 5, , , ,566 9,436 2,256 5,959 33, (4,583) (225,109) (256,500) (677) (25,013) (6,116) (517,998) , , ,812 (542,613) 3, , (12,253) (141,152) (44,233) (1,348) (7,195) (2,784) (208,965) (13,344) (2,833) (1,196) 13 (3,302) 658 (20,004) ,746 5,367, , , ,969 31,250 7,029, ,904 19, , ,935 8, , , ,146 10, (19,132) (190,213) (303,098) (5,020) (10,759) (3,524) (531,746) , , ,536 5 (242,786) 8, , (8,127) 6,341 (89) 2, , ,840 13,831 5,198 (400) (3,379) (3,932) 20, ,759 5,397,410 1,202,815 99, ,304 49,747 7,507,948

110 ANNUAL REPORT $3,821,606 $47,839,968 $ 8,034,576 $936,527 $ 1,746,760 $278,545 $62,657, , ,830 2,066,646 3,102 3,243,917 75,630 5,687, ,309 14,101 1,132 72,609 90, (170,532) (1,695,454) (2,701,649) (44,746) (95,900) (31,411) (4,739,692) ,320 1,740,360 3,204, (2,164,061) 76,737 3,037, (72,440) 56,520 (793) 19,583 6,355 9, , ,282 46,332 (3,565) (30,119) (35,048) 179, $4,035,645 $48,109,546 $10,721,232 $890,570 $ 2,721,312 $443,417 $66,921, (144,910) (1,980,273) (181,517) (6) (387) (7,853) (2,314,946) (33,650) (618,930) (281,695) (5,831) (940,106) (639) (1,151) (1) (24,977) (946) (27,714) , ,607 92,354 23,751 2, , (16) 1,802 34, , ,116 48,826 12, ,960 67, (3,183) (660) (2,898) (174,177) (2,335,613) (324,120) (7) (1,513) (10,662) (2,846,092) (37,248) (557,896) (440,026) (6,572) (1,041,742) (15) (3,497) (2,332) (5,844) , , , , , (730) 9,252 2 (6) 8, (197) (5,573) (5,449) (1) 6 (115) (11,329) ,593 (5,439) (8,584) 390 (3,207) (7,247) (189,698) (2,743,314) (575,085) (8) (3,127) (19,462) (3,530,694)

111 ANNUAL REPORT $(1,552,518) $(20,818,371) $(2,889,028) $(62) $(13,486) $ (95,035) $(25,368,500) (332,008) (4,972,778) (3,922,150) (58,580) (9,285,516) (134) (31,170) (20,786) (52,090) ,546 1,443,417 1,758,971 2,853 9,805 3,324, (6,507) 82, (53) 76, (1,756) (49,674) (48,569) (10) 53 (1,025) (100,981) ,507 (48,480) (76,513) 3,476 (28,585) (64,595) $(1,690,864) $(24,452,393) $(5,125,992) $(72) $(27,872) $(173,473) $(31,470,666) ,569 3,031, , , ,456 20,588 4,183, ,061 2,654, ,730 99, ,177 30,285 3,977, $2,344,781 $23,657,153 $5,595,240 $890,498 $2,693,440 $269,944 $35,451, Mobile Leasing Solutions, LLC 222,750 59,

112 ANNUAL REPORT ,781 10,090 $ 89, ,069,694 1,150,560 10,255, ,415 36, , ,050 7,038 62, ,135,013 1,203,784 $10,729, FCC ,673,151 4,320, ,655 1,363, , , ,536 63,210 54, ,385 8,054, ,389 85, , , ,353 14,446 18, ,774 30,250 8,797 56, , (146,032) (3,831) (77,796) (47) (1,766) (83,440) (62,928) (307) (48) (1,275) (64,558) (114) 177, ,664 (233,501) 6, (30,072) (269,935) (46,911) (25,021) (55,663) (11,016) (2,306) (3,909) (4,024) (418,785) (158) ,404 2, ,625,663 4,060, ,880 1,549, , , ,434 59, , ,030 7,894, ,454 55,551 1, , , ,265 18,989 24, ,659,035 2, , ,215 5, , (89,834) (99) (101,842) (241) (102,182) (79,614) (109) (1,367) (256) (1,329) (82,675) , (114,927) (139) ,734 (13,939) (3,625) (1,185) 7,119 (2,968) (758) (10,592) (185) (867) (27,000) , , (696) 38, ,221,598 4,100, ,257 1,648, ,195 1,129, ,485 64, , ,573 8,693,085

113 ANNUAL REPORT FCC $14,490,267 $36,195,294 $6,398,788 $13,807,050 $ $ 8,745,030 $1,476,157 $1,002,175 $528,078 $1,044,951 $ 1,167,929 $70,365, , ,151 16, ,579,188 2,246, , , , ,701,177 19,092 4,796,114 1,330,021 52,999 3,966 6,202, (800,731) (882) (907,764) (2,148) (910,794) (709,635) (972) (12,185) (2,282) (11,846) (736,920) ,022, (1,024,396) (1,239) ,291 (124,245) (32,312) (10,562) 63,455 (26,454) (6,757) (94,411) (1,649) (7,728) (240,663) , ,437 4, (6,204) 344, $37,629,004 $36,550,949 $6,366,494 $14,691,523 $4,859,569 $10,068,821 $1,457,215 $ $577,841 $1,044,951 $ 1,868,019 $77,485,382 FCC (9,788) (7,404) (606,074) (397,637) (31,742) (83,325) (3,627) (1,019) (19,974) (1,150,802) (228,753) (173,860) (26,951) (1,932) (5,742) (5,175) (442,413) (6,086) (4,125) (589) (1,342) (51) (6,107) ,521 56, , , , ,573 31,383 3,110 1, , (5,527) 151 (17,736) (890) (24,002) (15,874) (11,243) (766,865) (541,305) (46,368) (52,590) (5,179) (6,761) (24,844) (1,455,155) (228,538) (22,301) (137,608) (6,851) (2,161) (6,658) (4,280) (408,397) (30,260) (1,327) (714) (2,041) , , , , ,021 80, (883) (1,405) (227) 5,235 (34) 332 3, (6,053) (574) (13,503) (22) 1,016 (19,136) (46,134) (11,226) (925,308) (22,301) (680,815) (58,731) (7,296) (13,419) (27,350) (1,746,446)

114 ANNUAL REPORT FCC $(141,492) $ $(100,214) $(6,835,413) $ $(4,824,895) $(413,299) $(468,758) $(46,163) $ (60,264) $(221,446) $(12,970,452) (2,037,062) (198,779) (1,226,562) (61,066) (19,262) (59,346) (38,150) (3,640,227) (269,721) (11,828) (6,364) (18,192) ,162 1, , , , , , (7,871) (12,524) (2,023) 46,662 (303) 2,959 27, (53,954) (5,116) (120,358) (196) 9,056 (170,568) $(411,213) $ $(100,062) $(8,247,687) $(198,779) $(6,068,411) $(523,495) $ $(65,033) $(119,610) $(243,783) $(15,566,860) FCC ,609,789 4,060, , , , ,242 59,844 54, , ,186 6,439, ,175,464 4,100, , , , , ,754 57, , ,223 6,946,639 FCC $37,217,791 $36,550,949 $6,266,432 $6,443,836 $4,660,790 $4,000,410 $933,720 $ $512,808 $925,341 $1,624,236 $61,918,522 FCC FCC FCC FCC Sprint Boost Mobile 900MHz

115 ANNUAL REPORT FCC ,200 50,919 $453, ,680 20, ,000 10, ,650,91123,628, ,6804,792, ,6491,324,975 5,94052, , ,636424, , ,531 $2,652, ,242 64,459 $574,

116 ANNUAL REPORT , ,463 $ 8,106, , ,726 2,947, ,519 16, , ,821 9,821 87, ,600 58, , ,044 72, , ,891 20, , ,524 13, , ,958 1,595, ,657 60, , ,691,818 23,993, ,726 4,105 36, ,609,789 4,175,464 $37,217,791 1 WCP ,729,506 4,766,499 $42,485, ,130 20, , ,120 10,120 90, ,250 30, , ,042 3,030 27, ,753 1,613 14, ,836 2,290 20, ,631 6,933 61, ,767,387 4,803,682 $42,817, % 16.17% % 22.11% 5 0% 2.34% % 3.81% 10 9% % 1210% 13 2% , , % 16.17%

117 ANNUAL REPORT ,070 5, % 6, , ,234 $ 4,084, , ,253 7,373, ,542 2,573 22, ,259,575 1,288,060 11,481, (47,389) (42,170) (375,880) ,212,186 1,245,890 $11,105, , ,284 $ 3,906, , ,085 7,176, ,395 2,521 22, ,212,186 1,245,890 $11,105, c ,964 28,006 $249,630

118 ANNUAL REPORT , ,393 $ 3,363, ,246,531 1,216,504 10,843, ,207,512 1,051,701 9,374, ,888,874 2,645,598 $23,581, ,5794,408, , , ,176 $2,559, ,141 54, , ,701 1,097 9, , ,471 $3,052,598

119 ANNUAL REPORT Mobile Leasing Solutions, LLC MLS 1 1 MLS 100% SBLS HD US, Inc. SBLS JPLS HD US, Inc. JPLSMLSSBLS JPLS SBLS JPLS MLS MLS MLS MLS MLS MLS 1 MLS MLS477 55, ,826 45,843408, , MLS SBLS 100% MLS JPLS

120 ANNUAL REPORT % Wireless City Planning Sprint Corporation Sprint Communications, Inc Brightstar Global Group Inc Brightstar Corp Arm Holdings plc 100 Arm PIPD Holdings One, LLC 100 Arm PIPD Holdings Two, LLC 100 Arm Limited SB Group US, Inc SoftBank Group Capital Limited SB SBBM SoftBank Ventures Korea Corp SoftBank Korea Corp Starburst I, Inc SoftBank Holdings Inc SoftBank America Inc SoftBank Capital Fund 10 L.P SoftBank Capital Fund 14 L.P

121 ANNUAL REPORT % STARFISH I PTE. LTD SB Pan Pacific Corporation Hayate Corporation West Raptor Holdings, LLC 100 1WCPWCPWCP WCP % 345.3% 444.6% SoftBank Group International LimitedSoftBank Group Capital Limited a. Sprint Corporation a % , ,376 $2,445, (39,387) (24,295) $(216,552) b ,704 1,583,724 $14,116, ,958,438 7,790,217 69,437, ,527,507 1,424,313 12,695, ,362,584 6,108,478 54,447, ,968,051 1,841,150 16,410, ,871,647 3,623,375 $32,296, (230,380) (148,261) (1,321,517) (232,734) (160,823) (1,433,488)

122 ANNUAL REPORT , ,446 $ 3,328,692.. (685,226) (1,011,880) (9,019,342) , ,123 5,866, (16,029) 4,750 42, (184,339) 24,439 $ 217,836 b. a % , ,106 $5,197, ,909 73,172 $652, , ,730 $7,609, , ,634 1,182, , ,436 1,198, ,748256, , , ,627 $1,146,511.. (112,647) (58,651) (522,783).. (49,358) 23, , (286) (70) (624) (54,772) 93,902 $ 836, Alibaba Group Holding Limited a. Taobao Marketplace Tmall Alibaba.com b , ,818 $8,617, , ,974 5,223, , ,168 3,709, , ,334 1,063, ,345 1,017,290 9,067,564 b. IFRS 33

123 ANNUAL REPORT ,637,889 2,944,857 $26,248, ,755,127 5,301,646 47,255, ,195 1,546,084 13,780, ,094,527 1,528,963 13,628, ,580,184 4,373,539 38,983, , ,917 7,112, ,580,184 4,373,539 $38,983,323 % ,167,140 1,314,249 11,714, ,771,778 2,337,597 $20,836, ,177,794 1,026,796 9,152, ,648 (120,129) (1,070,764) ,300, ,667 $ 8,081, ,175,236 1,062,873 $ 9,473, ,254 (130,113) (1,159,756) ,297, ,760 $ 8,314, , ,290 1,241,555 IFRS 1... (7,989) (6,899) (61,494) (62,980) (80,326) (715,982) (32,329) (30,068) (268,010) ,201,547 1,336,246 $11,910,562 1 IFRS IFRS Taobao2012Yahoo!Inc. c ,036,776 80,548, ,103, , ,184 $2,916, ,212 7,369 65, , ,553 $2,982,022

124 ANNUAL REPORT (3,775) (9,159) $(81,638) (1,483) 545 4, (5,258) (8,614) $(76,780) (417) 481 4, (779) 658 5, (1,196) 1,139 $ 10, (4,192) (8,678) (77,351) (2,262) 1,203 10, (6,454) (7,475) $(66,628) , ,860 $4,669, ,733 62, , ,437 18, , ,170 80,619 $ 718,593

125 ANNUAL REPORT (219,931) (317,676) $(2,831,589) (202,746) 524,781 4,677, (422,677) 207,105 $ 1,846, ,768300, , % (76.3) (7.5) (2.2) (2.1) (0.8) (1.7) (0.4) (0.7) (1.0) (29.1) % %

126 ANNUAL REPORT ,624 49,136 1,089 (4,047) , ,229 (51,870) 202 1,765 (7,760) (1,036) 208, ,548 (43,307) 1,230 (5,054) 3 80, ,351 (20) 2, ,819 (20,643) 8 5 (2,082) 97 82, ,357 (64,333) 210 4,089 (18,963) (503) 492,857 FCC (1,508,886) (23,510) 95,552 (1,436,844) (216,238) 68,289 (18,285) 8,194 (158,040) (298,794) 510 (9,759) 18, (288,815) (256,430) (114,516) 28, (8,154) (350,431) (109,136) (69,186) (5,048) (3,596) 6,891 11,048 (169,027) (2,389,484) (138,413) 23,430 (31,640) 129,386 3,564 (2,403,157) (1,817,127) (202,746) 23,640 (27,551) 110,423 3,061 (1,910,300) , ,343

127 ANNUAL REPORT ,235 5, , ,530 (51,483) (27) 45 (2,032) (1,183) 153, ,420 (66,226) 9,831 (4,465) 51 19, , ,630 (2) 230, ,204 (15,949) 195 1,027 (298) 3,247 70, ,857 99, ,903 (6,288) 2, ,011 FCC (1,436,844) (19,567) 3,960 (1,452,451) (158,040) 50,760 (27,233) 1,686 (132,827) (288,815) 1,070 (1,100) 1,210 (287,635) ,312 (98,381) (1,089) (91,158) (350,431) 333, ,757 (10,405) (169,027) 51,564 (16,606) (832) 3,342 5 (29,362) (160,921) (2,403,157) 425,527 (15,757) (127,546) 9,141 (23,605) (2,135,397) (1,910,300) 524,781 (15,589) (116,643) 2,853 (21,488) (1,536,386) $ 1,062,795 $ 47,081 $ $ $ 4,537 $ 18 $ 1,114, ,858,722 (458,891) (241) 401 (18,112) (10,545) 1,371, ,820 (590,302) 87,628 (39,799) , ,998 2,028,969 (18) 2,050, ,722 (142,161) 1,738 9,154 (2,656) 28, , ,393, ,696 1,497 97,183 (56,048) 18,870 5,339,255 FCC (12,807,238) (174,409) 35,297 (12,946,350) (1,408,682) 452,447 (242,740) 15,028 (1,183,947) (2,574,338) 9,537 (9,805) 10,785 (2,563,821) ,089 (876,914) (9,707) (812,532) (3,123,549) 2,971,637 7, ,315 (92,744) (1,506,613) 459,612 (148,017) (7,416) 29,790 5 (261,717) (1,434,361) (21,420,420) 3,792,913 (140,449) (1,136,875) 81,478 (210,402) (19,033,755) $(17,027,363) $4,677,609 $(138,952) $(1,039,692) $ 25,430 $(191,532) $(13,694,500)

128 ANNUAL REPORT ,06298, ,9802,049, ,74769, ,979347,437 38,979347, , ,994 $ 3,609, (2,083,164) (1,941,380) (17,304,394) (1,910,300) (1,536,386) $(13,694,500) , ,386 $ 5,431, , ,142 7,595, ,711 39, , ,397,544 1,500,676 $13,376, ,096 18,692 $ 166, ,421 14, , ,198 21, , ,679 20, , , ,830 6,924, , ,142 $7,595, ,254 $ 73, ,097 1,183 10, ,189 2,438 21, ,449 2,598 23, ,679 24, , ,711 39,148 $348, ,652,74523,645, ,154, ,645,73614,669, ,128,346

129 ANNUAL REPORT % , ,664 $ 5,951, ,000 80, , ,225 1,128,510 10,058, , ,462 3,025, , ,284 3,906, ,299 40, , ,646,609 2,694,093 $ 24,013, ,785,500 3,377,625 30,106, ,611,947 7,233,838 64,478, , ,606 7,198, ,448 6,377, ,181 29, , ,275,822 12,164,277 $108,425,

130 ANNUAL REPORT ,000 9,988 9,995 (9,995) ,982 (99,982) ,000 99,852 99,956 (99,956) ,000 9,986 9,996 (9,996) ,957 (298,957) ,938 (69,938) % $ 89,090 (89,090) ,953 (890,953) 89,099 (89,099) , , ,813 3,554, ,000 49,850 49, , , , ,384 2,659, , , ,522 3,543, ,000 98,919 99, , , , ,200 3,264, ,000 19, , ,000 29, , , ,989 3,520, ,000 49, , , , ,791 2,467, , , , , , , , , ,951 74, , ,834 59, , , , ,681 1,316, ,797 58, , , , ,887 3,519, , , ,043 3,957, ,600 55, , ,400 15, , , ,478 3,498, ,892,486 (468,877) 4,364,435 (119,947) 38,902,175 (1,069,142)

131 ANNUAL REPORT Sprint Corporation % 7.25% Notes due , , ,207 2,230, % Notes due , , ,965 4,206, % Notes due , , ,466 2,473, % Notes due , , ,449 1,483, ,169,274 1,166,087 10,393,859 Sprint Communications, Inc. 11 Export Development Canada Facility Tranche ,677 33, , Export Development Canada Facility Tranche , % Senior Notes due ,186 (228,186) 9.125% Senior Notes due ,175 (117,175) 8.375% Senior Notes due , , , ,604) ,315,661 (1,315,661) % Guaranteed Notes due , , ,457 3,168, % Guaranteed Notes due , , ,549 1,038, % Senior Notes due , , ,923 1,532, % Senior Notes due , , ,814 1,210, % Debentures due ,979 25, , % Senior Notes due , , ,323 2,257, ,640,663 (345,361) 1,239,614 (147,604) 11,049,238 (1,315,661)

132 ANNUAL REPORT % Sprint Capital Corporation % Senior Notes due , , ,611 1,752, % Senior Notes due , , ,563 2,322, % Senior Notes due , , ,029 2,130, , ,203 6,205,571 Clearwire Communications LLC % First Priority Senior Secured Notes due ,374 (36,374) 8.25% Exchangeable Notes due ,749 (50,073) 110,123 (86,447) ,761 (71,761) 71,761 (71,761) 35, , , ,512,632 (900,685) Sprint Communications, Inc. Sprint Capital CorporationClearwire Communications LLC ,573,300 (339,462) ,638 (639,638) 639,638 (639,638) 313,753 (1,337) 313,753 (1,337) $67,504,234 (3,025,778)

133 ANNUAL REPORT % West Raptor Holdings, LLC WRH LLC Mandatory Exchangeable Trust Trust Trust 578,43654 Trust WRH LLC ADS Mandatory Exchangeable Trust Securities Trust Securities 66 WRH LLC Trust 54 Trust Securities 66Trust Trust SecuritiesTrust Securities Trust Securities Trust Securities1 ADS ADS ADS 578,436 5,155,860674,023 6,007,87195,587852, ,4486,377,110143,935 1,282, ,7292,074, a. b WRH LLC WRH LLC ADS WRH LLC WRH LLC WRH LLCTrust ,4401,376, Trust Securities 66 West Raptor Holdings, LLC 100% Mandatory Exchangeable Trust Trust Securities 3 a. a 75%

134 ANNUAL REPORT b c 2 d EBITDA 3 3 EBITDAEBITDA b. a 241 b 1 EBITDA EBITDA 4EBITDA ,402 3,560, , $ 2, ,248 7,154 63, ,131 4,397 39, ,704 2,818 25, , ,029 5,892, ,440 1,376, , ,163 $7,399, ,623 4,397 $ 39, , , , ,426 1,822, ,082 79, , ,448 6,377, ,431 1,003,521 $8,944,835 a Clearwire Communications LLC

135 ANNUAL REPORT b ,602 80,847 $720, ,286 26, , , ,242 $955, ,538 36,580 $326, ,963 24, , ,501 60,848 $542, , ,216 $2,872, ,000 38, , , ,216 $3,210, ,072 2,715,725 $24,206, ,053,258 1,006,000 8,966, , ,369 4,388, ,436 5,155, ,129,683 4,792,530 $42,717, ,4365,155, (684,397) (920,315) $ (8,203,182) (203,281) (862,281) (7,685,899) (468,061) (459,788) (4,098,298).... (49,029) (40,683) (362,625) (200,000) (1,604,768) (2,283,067) $(20,350,004)

136 ANNUAL REPORT ,492,481 1,460,839 $13,021, , ,614 1,306, ,621,195 1,607,453 $14,327, , ,146 $2,265, ,987 33, , , ,229 $2,560, , ,305 $1,954, , ,628 1,128, ,761 80, , , , , ,999 65, , , ,096 $5,340, , ,270 $ 911, ,618 73, , , ,093 1,088, , ,771 $2,654,167

137 ANNUAL REPORT ,875 37,000 20,281 16,683 19, , ,535 9,542 2,330 4,070 23, ,916 2, , (12,041) (15,972) (3,391) (4,430) (5,533) (41,367) (4,117) (413) (4,530) ,528 1, , (252) (192) (57) (229) (286) ,606 29,897 16,890 14,583 18, , ,221 14,671 2,788 6,085 12,597 56, ,385 15,226 14,102 8,498 5, , ,606 29,897 16,890 14,583 18, , $ 729,789 $ 329,798 $180,774 $148,703 $170,754 $1,559, ,163 85,052 20,768 36, , ,819 17,880 6,239 67, (107,327) (142,366) (30,226) (39,486) (49,318) (368,723) (36,697) (3,681) (40,378) ,937 15,064 4, , ,576 (2,246) (1,711) 3, (509) (2,040) (2,549) $1,030,448 $ 266,485 $150,548 $129,985 $161,477 $1,738, $ 180,239 $ 130,769 $ 24,851 $ 54,238 $112,283 $ 502, , , ,697 75,747 49,194 1,236, $1,030,448 $ 266,485 $150,548 $129,985 $161,477 $1,738,943 1 a , , ,185492,24622 b ,802123,023 11,418101, ,38721,276

138 ANNUAL REPORT ,678 8,676 $77,

139 ANNUAL REPORT a , , , , , , , , , ,024 2, ,269 11, (7,405) (7,403) (3,872) (3,174) ,238 1, (1,071) (9,647) (10,718) (17,098) (17,098) (185) (1,070) (1,255) , , , (160,846) (160,846) (6,597) (6,597) ,196 9, ,411 8, (743) (743) ,828 9, (140,751) (140,751) , , , (5) 10,047 10, (3,687) (3,687) (89) (54) (143) (2) (201) (203) (752) (9,768) (10,520) (625) (625) (132) (218) (350) , , , (140,751) (140,751) (5,786) (5,786) (8,194) (8,194) ,190 9, (6,080) (6,080) (151,365) (151,365) ,133 93, , , , ,759

140 ANNUAL REPORT b $139,059 $ 964,061 $ 1,103, ,059 2,218,638 2,357, , , (44) 89,553 89, (32,864) (32,864) (794) (481) (1,275) (17) (1,792) (1,809) (6,703) (87,067) (93,770) (5,570) (5,570) (1,178) (1,942) (3,120) ,887 2,178,484 2,313, (1,254,577) (1,254,577) (51,573) (51,573) (73,037) (73,037) ,915 81, (54,194) (54,194) ,281 2, (1,349,185) (1,349,185) ,020 12,287 36, ,598 10,897 21, ,224 45, ,737 15, ,287 13,701 21, ,905 97, , ,061 26,074 51, , , ,653 47, ,862 14, ,962 13,802 25, , , , $134,887 $ 829,299 $ 964, $223,380 $232,409 $ 455, , , , , , , , , , $435,565 $913,620 $1,349,185

141 ANNUAL REPORT % % % c % d % ,902 17, % ,944 20, % ,380 16, % ,511 19, % 4, % e. 5, , ,997 a 150, , ,936 43,997 b

142 ANNUAL REPORT ,613,613 3,586,352 $31,966,771 % i , ,193 $4,173, , ,966 1,737, a. a , ,169 $1,035, (386) 87,649 $781,255

143 ANNUAL REPORT % (2,143) (1,162) $(10,357) 1% (876) $(7,808) (861) (4,682) $(41,733) (835) (1,950) (17,381) $ 1,479 (38) (3) ( ) ( ) ( ) $ (27) , ,373 7,820,421 (40,306) (72,658) (877,373) (877,373) (7,820,421) (647,633) , ,539 $ 7,821,900 (40,344) (72,661) (877,373) (877,373) (7,820,421) $(647,660)

144 ANNUAL REPORT ,476 ( ) ,430 ( ) ,379 ( ) ,285 ( ) FX , ,113 26, ,424 ( ) 11,653 ( ) 548,786 ( ) 1,378,863 ( ) 2,213 (19) 13,398 15,592 $ 7,294,982 ( ) 103,868 ( ) 4,891,577 ( ) $12,290,427 ( ) $ 19,725 (169) 119,423 $138,979 b i. 10% (32,843) $(292,744) (7,381) (7,884) (70,274) 10%

145 ANNUAL REPORT ,512 (11,082) 40,512 (11,082) ,424 2, ,454 (740,454) 56,095 (56,095) 9,713 (9,713) 806,262 (806,262) (143,934) (8,630) 6,208 (146,356) $ 6,600,000 (6,600,000) 500,000 (500,000) 86,576 (86,576) $ 7,186,576 (7,186,576) $(1,282,949) (76,923) 55,335 $(1,304,537) c i. 1% (25,788) (39,412) $(351,297)

146 ANNUAL REPORT ,500 (10,500) (75) 234,880 (224,880) (250) $ 2,093,591 (2,004,457) $(2,228) ,945 (132,945) 1,039 $ 1,184,999 (1,184,999) $9,261 b

147 ANNUAL REPORT a ,780, ,450 21,484 14,427 10,180 13,666 1,956, ,838 2, ,562 1, , ,079, ,738 22,307 15,989 12,153 14,326 2,263, (45,262) ,217, ,012, ,366 31,017 13,845 13,956 5,724 2,177, , , ,427, ,378 31,044 13,911 14,118 6,011 2,593, (60,156) ,533, $17,933,925 $903,521 $276,468 $123,407 $124,396 $51,021 $19,412, ,702, ,444 2,558 3,707, $21,636,688 $903,628 $276,709 $123,995 $125,840 $53,579 23,120, (536,198) $22,584,241

148 ANNUAL REPORT b ,174 7,137 $ 63, ,588 28, , (34,882) (35,195) (313,709) $ 7,585 c. MMF c ,185 80,144 $ 714, ,056 65, , (85,771) (50,078) (446,368) (2,326) (327) (2,914) ,144 95,351 $ 849,907 a ,035,457 4,085,912 $36,419, ,255,182 3,406,044 30,359, , ,868 $ 6,059,

149 ANNUAL REPORT b , , , ,000 42,000 42, ,528,725 2,553, , , , , ,730 3, ,512,632 7,482, , , ,040 1,041, ,402 3,873, ,212,186 1,212, , , , ,628 65,813 5, , ,110 48,925 38,845 16,116 8, ,621,195 1,621,195 1,612,100 3,230 1,936 1, , ,069 26,069 2,083 2,840 3,533 1,459 1,264 14, ,569,695 13,567,162 4,256,567 1,279,867 1,475,868 1,680, ,377 3,898, ,051 76,051 (1,286) (5,475) (5,118) (4,706) (2,468) 95, ,126 76,126 (1,286) (5,406) (5,118) (4,706) (2,462) 95,104

150 ANNUAL REPORT , , , ,000 80,000 80, ,506,135 4,558,688 1,132,653 1,955, , ,082 79, , ,573,300 7,575, , ,620 1,044, ,946 1,229,618 3,555, ,245,890 1,245, , , , ,596 56,388 2, , , , ,933 71,004 40,376 17,804 9,879 1,683 1, ,607,453 1,607,453 1,585,746 11,021 8,558 1, ,419 40,419 7,336 15,309 4, , ,506,242 16,587,814 4,289,492 3,087,145 2,637,190 1,202,524 1,366,798 4,004, , ,697 1,898 (4,108) (3,689) 3,064 (2,627) 113, , ,564 8, , , ,511 1,920 4, ,246 3,069 (2,404) 113, $ 5,951,190 $ 5,958,695 $ 5,958,695 $ $ $ $ $ , , , ,165,211 40,633,639 10,095,847 17,427,070 5,213,049 3,325, ,667 3,865, ,504,234 67,522,952 3,000,187 6,565,826 9,313,388 5,989,357 10,960,139 31,694, ,105,179 11,105,179 3,906,622 3,130,832 2,173,572 1,369, ,612 22, ,377,110 6,600,000 6,600, , , , ,695 88,056 15,001 11, ,327,953 14,327,953 14,134,468 98,235 76,281 16, , , ,272 65, ,456 42,116 3,682 1, , ,127, ,854,657 38,234,174 27,517,114 23,506,462 10,718,638 12,182,886 35,695, , ,952 16,918 (36,616) (32,882) 27,311 (23,416) 1,008, ,359,872 1,359,872 76,914 1,282, ,228 2, , $ 2,322,052 $ 2,322,052 $ 17,114 $ 40,298 $ 1,250,076 $ 27,355 $ (21,428) $ 1,008,

151 ANNUAL REPORT FVTPL ,914,789 1,914, ,136 23, , , ,493 31, , , , ,629 31, , ,293,709 3,038,521 FVTPL ,646,609 2,646, ,621,195 1,621, , ,082 6, ,275,822 9,275, ,677 23,987 95, ,410 71,716 13,569,695 13,645,821 FVTPL306,070

152 ANNUAL REPORT FVTPL ,121,619 2,121, , , , , ,257 28, , ,981 1,552, ,630 28, , ,120 3,026,222 4,468,575 FVTPL ,164 2,650,929 2,694, ,607,453 1,607, , ,336 13, ,164,277 12,164, , ,582 33, , , ,606 16,463,078 16,766,753

153 ANNUAL REPORT FVTPL $ $ $ $ $18,910,946 $18,910, ,334 5,116 2,461,182 4,408,789 7,083, ,314, ,771 4,611,231 3,654,346 13,836, $5,523,041 $255,771 $4,616,347 $2,461,182 $26,974,081 $39,830,422 FVTPL $ 384,740 $ $ 23,628,924 $ 24,013, ,327,953 14,327, , , , ,425, ,425, ,359, , ,883 2,560, $1,801,132 $905,660 $146,742,829 $149,449,621 1 FVTPL589,2505,252, FVTPL Mobile Leasing Solutions, LLC

154 ANNUAL REPORT , , , ,273 1,548 9, ,424 62, ,424 2, ,736 19,020 46, ,807 98, , , ,051 76, ,126 76, , ,334 1,075, ,837 1,132 8, ,627 50, ,208 6, ,039 1, ,501 22,284 23, ,271 61, ,958 1,166, ,164 43, , , , , ,511 43, , $3,630,190 $ $5,957,162 $ 9,587, ,855 10,090 79, , , ,335 55, ,260 9, , , , ,630, ,755 6,221,214 10,395, , , , , ,359,871 1,359, ,229 2, $ $2,322,052 $ 384,740 $ 2,706,792

155 ANNUAL REPORT a b. 2 3 c a % 45.0% 10.0% 35.0% 5.0% 10.0% 5.0% 10.0% 16.9% 5.2% 15.0% 17.0% b. c.

156 ANNUAL REPORT d ,754 3,258 1,144 12, ,308 (7,528) 1, (18,629) (314) ,508 1, , (11,361) (500) (1,739) (8,206) ,067 6, (8,961) (1,472) (787) 1, ,480 1,548 2,424 19, ,536 (7,786) 1, ,480 1,548 2,424 19, (154,374) 9 3,821 (1,291) , (37) , , (4,435) (640) (3,692) (553) ,718 (49) (1,107) ,334 1,132 6,208 22, (153,340) 3,821 (1,293) , , , (77,656) , ,395

157 ANNUAL REPORT $ 4,897,763 $13,798 $21,606 $169, (1,376,006) 81 34,059 (11,508) , (330) ,340,913 2,237 83, (39,531) (5,705) (32,908) (4,929) ,227 (437) (9,867) $ 5,957,162 $10,090 $55,335 $198, $(1,366,788) $ $34,059 $ (11,525) $ , , ,026, (692,183) $ 384, $ 21,348 FVTPL ,785,500 1,797,632 3,377,625 3,436,955 $ 30,106,293 $ 30,635, ,611,947 6,099,330 7,233,838 7,590,748 64,478,456 67,659, , , , ,686 7,198,556 7,297, ,181 64,280 29,760 30, , , ,275,822 8,778,299 11,448,829 11,877,297 $102,048,570 $105,867,698

158 ANNUAL REPORT a b c. 1 2 d ,186 1,020,257 $ 9,094, (624,563) (735,205) (6,553,213) ,186 1,020,257 $ 9,094, (624,096) (735,880) (6,559,230) , ,377 $ 2,534,780

159 ANNUAL REPORT ,777 (77,751) 37,026 (22,550) 14, ,089 39,089 (36,094) 2, ,866 (77,751) 76,115 (58,644) 17, ,966 (77,751) 96,215 (22,418) 73, ,243 71,243 (36,227) 35, ,209 (77,751) 167,458 (58,645) 108, ,790 (90,319) 39,471 (26,134) 13, ,736 (133) 31,603 (31,551) ,526 (90,452) 71,074 (57,685) 13, ,274 (90,452) 130,822 (25,975) 104, , ,971 (31,710) 81, ,245 (90,452) 243,793 (57,685) 186,108

160 ANNUAL REPORT $1,156,877 $(805,054) $351,823 $(232,944) $118, ,877 (1,185) 281,692 (281,228) $1,439,754 $(806,239) $633,515 $(514,172) $119, $1,972,314 $(806,239) $1,166,075 $(231,526) $ 934, ,006,962 1,006,962 (282,646) 724, $2,979,276 $(806,239) $2,173,037 $(514,172) $1,658, % (28,673) (31,910) $(284,428) (34,325) (305,954) (12,016) (13,362) (119,102)

161 ANNUAL REPORT a ,600,000 3,600,000 b ,200,660 1,200, (100,000) ,200,660 1,100, ,000100, ,463 53, ,873 58, (576) (100,455) ,760 11, ,069350,826 3,127, , , , ,1955,305, % 77.8% 120,847

162 ANNUAL REPORT ,524 (7,345) 533, , ,070 (32,743) (263,977) (278,308) (342) (342) ,594 (40,088) 269, , ,140 (20,611) (4,789) (25,090) (40,350) (10,140) (10,140) ,983 (44,877) 244, , $ $ 290,525 $(357,322) $2,399,768 $2,332, ,382 (183,715) (42,687) (223,638) (359,658) (90,382) (90,382) $ $ 106,810 $(400,009) $2,176,130 $1,882, , ,

163 ANNUAL REPORT $ ,085 $214, , , $ ,964 $213, Restricted Stock Unit ,661 13,301 $118, ,900 7,877 70, ,561 21,178 $188, ,151 8,162 $72, a a a c a d 1

164 ANNUAL REPORT % a 50% ab 75% a c 100% ,000a c % a 50% ab 100% 3 2 b Sprint Corporation c Supercell Oy Supercell Oy Share option program %3 d Brightstar Global Group Inc Stock Incentive Plan Brightstar Global Group Inc Stock Incentive Plan Brightstar Global Group Inc. Brightstar Global Group Inc. 2 1 Brightstar Global Group Inc. Nextel Incentive Equity Plan Long Term Incentive Program Omnibus Incentive Plan Omnibus Incentive Plan

165 ANNUAL REPORT e i ii i 2, % % % % ii 3, % % % % i ii i 2,500 20% ii 3,300 80% ,300 b. a 1, ,366 $ ,393 $ ,159 $ ,891 $ % 38.38% / $0.37/ 44 / $0.39/ (0.38%) (0.15%)

166 ANNUAL REPORT b Omnibus Incentive Plan % 1.48% Sprint Corporation c. a ,495,500 4, ,700 2,625 $ ,364,000 6, (10,229,800) 4,750 (12,000) 4, (576,000) 2,625 (455,300) 2, ,700 2,625 4,586,400 6, b ,861,827 $ ,742,546 $ ,290, ,075, (6,735,629) 5.42 (3,410,819) (1,439,758) 2.43 (11,653,873) (3,234,331) (574,253) ,742, ,179, ,866,540 $ ,852,255 $ $ ,923,458 $ ,050, ,947, ,589, , ,642, ,179,286 $ ,700 2, ,400 2,625 $23.40

167 ANNUAL REPORT c ,854, ,062, , , , , , ,062, , d ,464,993 $ ,920 $ , (621,367) (600,478) , , , , ,898 $ ,812 $ $ ,000 $ , , ,437 $ e ,586, ,973, $ (1,260,700) 450 2,088, (346,400) , (6,100) , ,973, ,255, ,522, ,899, $ $1.79-$ , $ ,797, ,962, ,654, ,255, $

168 ANNUAL REPORT d. a ,000 7,021 b Omnibus Incentive Plan... 1,439,758 $4.41 c ,300 7,291 $ Omnibus Incentive Plan... 11,566,044 $ Omnibus Incentive Plan... 87,829 $ , , $ , , , , , , , , , , , , Supercell Oy 2 Restricted Stock Unit Restricted stock unit RSU RSU a. Sprint Corporation RSU RSU RSU Sprint Corporation RSURSU RSU 50% 450% RSU 54,729, RSU15.64 b. Galaxy Investment Holdings, Inc Galaxy Investment Holdings, Inc Sprint Corporation RSU RSU Sprint Corporation Galaxy Investment Holdings, Inc RSU RSU RSU 44 1 c. Supercell OyRSU RSU Supercell Oy RSU

169 ANNUAL REPORT RSU 12,000 RSU RSU RSU SB Group US, Inc.SoftBank Holdings, Inc. SB Group US, Inc.SoftBank Holdings, Inc ,395,925 2,413,429 $21,511, , ,396 6,626, ,106,855 3,156,825 28,138, ,501,532 3,120,616 27,815, , ,526 3,017, ,688,498 3,459,142 30,832, , ,350 4,629, , ,231 2,872, , ,581 7,501, ,345,856 1,228,051 10,946, ,901 1,006, , , , ,881,777 8,901,004 $79,338, ,278, , ,206,

170 ANNUAL REPORT (2,370,094) (2,433,370) $(21,689,723) (1,373,467) (1,465,609) (13,063,633) (1,073,036) (954,998) (8,512,327) (558,433) (569,414) (5,075,443) (471,057) (494,579) (4,408,405) (513,411) (429,176) (3,825,439) (282,074) (290,681) (2,590,971) (1,251,487) (1,111,662) (9,908,745) (7,893,059) (7,749,489) $(69,074,686) ,385 $ 324, (37,032) (55,727) (496,720) (15,399) (137,258) (10,600) (94,483) (23,437) (4,209) (37,517) (26,079) (2,277) (20,296) (19,881) (10,271) (8,201) (73,099) (13,006) (115,928) ,269 20, (30,260) (269,721) (13,633) (2,833) (25,780) (229,789) (8,847) (78,857) (8,051) (71,763) (6,086) (139,252) (143,703) $(1,280,890) 1 FCC Mobile Leasing Solutions, LLC 6, NTELOS Holdings Corp. 4

171 ANNUAL REPORT ASKUL Logi PARK 10,23091,185 2,51022, , & & 4 30,260269, % 16.17% 7 8,070 5, % ,47130, ,7292,074, FVTPL FVTPL ANI Technologies Pvt. Ltd. Jasper Infotech Private Limited (440,744) (467,311) $(4,165,353) GIC Private Limited 100% Gamlight Pte Ltd Temasek Holdings Private Limited 100% Aranda Investments Pte. Ltd ,4182,089, , , (41,414) 53,336 $ 475, (32,759) (6,098) (54,354) ,903 77, , (79,278) (706,641) (42,540) (379,178) (21,253) (60) (535) ,531 4,519 40, (63,992) 7,419 $ 66, PT Trikomsel Oke Tbk. 38, Foxconn Technology Group % SOFTBANK GROUP CAPITAL APAC PTE. LTD.SOFTBANK GROUP CAPITAL APAC PTE. LTD. Foxconn Far East Limited Foxconn Ventures Pte. Ltd. Foxconn Ventures Pte. Ltd.45.5% ,278706, ,5291,172,377 52,251465,737

172 ANNUAL REPORT ,540379, (32,338) 32, (5,253) (4,906) (91,449) 59,223 (32,226) 234 (31,992) (328,860) (328,860) 39,125 (289,735) ,760 (450) 38,310 (10,668) 27, (413,887) 91,458 (322,429) 23,438 (298,991) (413,747) 91,458 (322,289) 23,640 (298,649) ,227 12,227 (27) 12, ,227 12,227 (27) 12, , ,112 (16,484) 5, (32,479) 24,930 (7,549) 95 (7,454) (185,792) 175,002 (10,790) (9,710) (20,500) (41,130) 190 (40,940) 10,537 (30,403) (238,197) 201,030 (37,167) (15,562) (52,729) (225,970) 201,030 (24,940) (15,589) (40,529)

173 ANNUAL REPORT $ 108,985 $ $ 108,985 $ (241) $ 108, , ,985 (241) 108, ,002 8, ,095 (146,929) 50, (289,500) 222,212 (67,288) 847 (66,441) (1,656,048) 1,559,872 (96,176) (86,550) (182,726) (366,611) 1,694 (364,917) 93,921 (270,996) (2,123,157) 1,791,871 (331,286) (138,711) (469,997) $(2,014,172) $1,791,871 $(222,301) $(138,952) $(361,253) ,235, , ,000, ,000, ,080, % ,592, a ,604 $ (17,404) , (3,568) , (12,739) (6,968) $

174 ANNUAL REPORT b ,051 $ (735) (86) ,230 $ b ,071 44,065 $ 392, ,055 (166) (1,480) (32,578) (17,557) (156,493) ,548 26,342 $ 234,798 2 Tencent Holdings Limited a ,772 80,735 $ 719, (185,169) (46,075) (410,687) ,603 34, , (17,878) (6,414) (57,171) ,725 28, , ,216 5,670, (109,663) (977,476) , ,799 $4,945, , ,902 $ 7,825, , ,406 4,888, ,172 1,426,308 $12,713, ,178,098 1,108, $ , $11.47

175 ANNUAL REPORT , ,902 $ 7,825, (16,475) (11,299) (100,713) , ,603 7,724, , ,406 4,888, , ,406 4,888, ,697 1,415,009 $12,612, ,178,098 1,108, , ,178,654 1,109, $ , $ , , ,048758, ,4892,616,000

176 ANNUAL REPORT Mobile Leasing Solutions, LLC137, , a ,844 $6,861, (19,693) (175,533) (27,143) (241,938) (884) (7,879) ,124 $6,436,616 b ,523 $1,118, , , , , ,077 54, , , ,593 49, ,778 $ 211, , ,180 $2,827, , ,

177 ANNUAL REPORT Alipay Singapore E Commerce Pte Ltd 4 10, , ,

178 ANNUAL REPORT $98,280 $ 2, , , , ,038 2,093 $ 18, ,821 4,860 43, ,847 78, ,863 15,809 $140,913 1 CEOCEO ,042 5,3752, ,34692, ,701 1,196 10,660 8,84778, ,83034, , ,688 $2,796, ,355 13, , , ,721 $2,671, ,822 16,632 $148, ,418 12, ,848 1

179 ANNUAL REPORT a. a JPiT2 75 PNET JPiT JPiT JPiT 149 JPiT b JPiT NRI JPiTNRI a 5 PNET JPiT ba a b. a Bennett v. Sprint Nextel Corp. Bennett 3 10 b 10b Bennett 5 1 Murphy v. Forsee Bennett 2 Randolph v. Forsee Ross-Williams v. Bennett Price v. Forsee Hartleib v. Forsee Bennet governance provisions b the State False Claims Act intermediate appellate court federal preemption trial court discovery 8 1

180 ANNUAL REPORT the Louisiana Municipal Police Employees Retirement System 2 15 c ACP Master, LTD Chancery Court trial post-trial briefingoral argument decision d trial e FCC notices of apparent liability NAL NAL NAL f c , WorldVu Satellites Limited OneWeb Intelsat S.A. Intelsat OneWeb Intelsat OneWeb10 OneWeb OneWeb Intelsat 17.3 OneWeb Intelsat Intelsat OneWeb 40OneWeb Fortress Investment Group LLC Fortress Fortress 33 Fortress100%

181 ANNUAL REPORT Fortress Fortress ,613,69514,383, ,496, Xiaoju Kuaizhi Inc. Xiaoju Kuaizhi Inc. Kuaizhi Kuaizhi Apple Foxconn Technology Group Qualcomm Incorporated LP LP652 a. AI %GP GP 100%the Financial Conduct Authority IFRS 10 IFRS b. Arm Holdings plc Arm Holdings plc Arm 24.99% Arm LP Arm 82 CFIUS Committee on Foreign Investment in the United States Arm Arm Arm Arm ArmArm c

182 ANNUAL REPORT SoftBank Group Corp. ANNUAL REPORT 2017 Independent Auditor s Report

183 ANNUAL REPORT Corporate Information

184 ANNUAL REPORT SoftBank Group Corp * CEO 2, ,402 IR Sprint Facebook *

185 ANNUAL REPORT UFJ ,600,000,000 1,100,660,365 11,378, ,465 % , , , JP MORGAN CHASE BANK , , CBNY-GOVERNMENT OF NORWAY 13, THE BANK OF NEW YORK MELLON SA/NV 10 12, , , , , ,000, ,378, ,000 25, ,000 8,000 22,500 20, ,000 6,000 17,500 15,000 5,000 4,000 3,000 2,000 1,000 12,500 10,000 7,

186 ANNUAL REPORT MNP SoftBank Y!mobile 2 * 1 * 2 * 3 PHS PHS * 1 * 2 * 3 PHS PHS MNP SoftBank Y!mobile ARPU Average Revenue Per User 1 ARPU 10 ARPU 10 ARPU 10 2 SoftBank Y!mobile SoftBank NTT NTT SoftBank Air Air Yahoo! BB with NTT NTTISP Yahoo! BB ADSL ADSLISP SoftBank NTT NTT SoftBank Air Yahoo! BB with NTT NTT Yahoo! BB ADSL NTTNTT ADSL ARPU Average Revenue Per User 1 ARPU 10 SoftBank ARPU SoftBank BB BB SoftBank * SoftBank ARPU SoftBank Air Yahoo! BB with ARPU Yahoo! BB with BB BB Yahoo! BB with Yahoo! BB ADSL ARPU Yahoo! BB ADSL BB Yahoo! BB ADSL 2

187 ANNUAL REPORT SoftBank Y!mobile NTT NTT OTT Over The Top OTT 3 2 ABPU Average Billings Per User 1 ABPU 1 ARPU Average Revenue Per User 1 ARPU1 2 * ABPU ARPU Cortex 3 Cortex-AOS Cortex-R Cortex-M Mali 3D PC 5G Gbps % HPUE High Performance User Equipment HPUE30 1.9GHz LTE Long Term Evolution 33G 3G LTE FDD TDD 2FDD FDD-LTE TDD TD-LTE LTE LTE-Advanced 1Gbps 44G MVNO Mobile Virtual Network Operator PHS Personal Handy-phone System 1.9GHz

188 ANNUAL REPORT EBITDA * 2016EBITDA WBS Class B2 Funding Notes J-WBS Yahoo Inc. ROA ROA ROE ROE IFRS EBITDA EBITDA EBITDA EBITDAEBITDA EBITDA * 2016EBITDA

189 Tel: softbank.co.jp Copyright 2017 SoftBank Group Corp. All Rights Reserved.