Softbank Corp (Buy, TP: ¥2,500, +33%) Q4 23 Quick Take: Bottom-line beat; mixed near-term guidance impacted by investments into Generative AI
Softbank delivered a strong beat on EBITDA and net profit this quarter, with mobile accelerating as the benefits of financial integration into mobile plans continued to flow through. Guidance was mixed however, impacted by the ¥150bn investments going into generative AI. As a result, compared to a scenario without these investments, the guided EBIT was lower by ¥30bn/year for FY24 and FY25, but in line with previous figures.
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