SoftBank Group Corporation reported a consolidated net profit of ¥421.8 billion ($2.87 billion) for the first quarter of FY2026, reversing last year’s loss. Gains in public portfolio companies, led by Swiggy and Symbotic, drove a sharp rebound in Vision Fund performance.
SoftBank Group Corporation, headquartered in Tokyo, Japan, is a global technology investment conglomerate known for its diversified portfolio spanning telecommunications, AI, e-commerce, and robotics. Through its Vision Funds, SoftBank invests in high-growth technology companies worldwide, including prominent names in India and the United States.
Strong Q1 Earnings Rebound
In the quarter ending June 30, 2025, SoftBank recorded a net profit of ¥421.8 billion, compared to a loss of ¥174.3 billion in the same period last year. This performance was driven by robust gains in its Vision Fund investments, particularly from Swiggy Limited and Symbotic Inc..
The Vision Funds — comprising Vision Fund 1, Vision Fund 2, and the Latin America Funds — posted total investment gains of ¥726.8 billion for the quarter, up sharply from ¥177.26 billion in the previous quarter. Vision Fund 1 contributed ¥517.4 billion, led by share price increases in Coupang and Auto1. Vision Fund 2 added ¥114.5 billion, boosted by unrealised valuation gains in Swiggy and Symbotic.
Also Read: SoftBank’s Q4 Turnaround: Global Wins vs. India Portfolio Woes
Swiggy’s Market Rally
Swiggy’s share price surged over 20% in June 2025, ending the quarter around ₹400–406. The rally, which continued into early July, was supported by renewed investor confidence and a broader rebound in platform stocks. This recovery followed a challenging March quarter, where the stock had slipped below its IPO price due to widening losses.
Portfolio Trends and India Exposure
SoftBank’s India portfolio includes stakes in Swiggy, Ola Electric Mobility, Delhivery, and FirstCry, with a total investment of $1.67 billion. As of June 30, 2025, these holdings were valued at approximately $2.46 billion, reflecting an unrealised gain of $793 million. While Swiggy, Delhivery, and FirstCry have delivered mark-to-market gains, Ola Electric remains below its invested value.
Swiggy has generated a gross gain of $357 million on a $450 million investment, while Delhivery’s gains stand at $263 million on a $397 million investment. FirstCry leads in returns with a $311 million gain on $268 million invested.
IPO Pipeline
SoftBank is closely monitoring upcoming IPOs from its India portfolio, including Lenskart and Meesho. Lenskart filed its draft papers with SEBI last week, aiming to raise ₹2,150 crore, while Meesho has confidentially filed to raise ₹4,250 crore. These listings could unlock further value for SoftBank’s Indian investments.
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