SoftBank Group Corp. (SFTBY) Stock Price & How to Invest
Last updated October 2026
Short answer
SFTBY is the US over-the-counter ADR for SoftBank Group, a Tokyo holding company that is now mostly a leveraged bet on OpenAI and Arm, wrapped in a structure that has historically traded at a deep discount to the value of what it owns. Owning it means owning Masayoshi Son's AI conviction, the debt that funds it, and the yen.
SFTBY stock price
As of 2026-10-16, SoftBank Group Corp. (SFTBY) last closed at $14.80, down 24.1% over the past year. Over the past 52 weeks it has traded between $10.91 and $28.68.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or SoftBank Group Corp.'s investor relations page. Walnut is informational, not investment advice.
What does SoftBank Group Corp. (SFTBY) do?
SoftBank Group Corp. is a Japanese strategic investment holding company led by founder Masayoshi Son. Its main assets are a roughly 90% stake in chip designer Arm Holdings, a stake of about 13% in OpenAI (built from cumulative commitments of roughly $64.6 billion by October 2026), a large holding in Japanese telecom SoftBank Corp., and the Vision Fund portfolios, which hold stakes in companies such as Coupang, DiDi and Klarna along with a ByteDance position. Over 2025 and 2026 it sold holdings including Nvidia and T-Mobile US to fund its AI commitments, took a stake in Intel, and backed the Stargate data center build-out with OpenAI and Oracle, with Son named chairman of that venture. It has also announced a planned Ohio power and data center campus that a SoftBank executive described as having about 10 gigawatts of planned capacity. In practice, the group has moved from a diversified venture investor toward a concentrated, debt-funded vehicle for AI infrastructure and model companies.
The investment picture is about net asset value (NAV) and leverage. SoftBank reported NAV of about ¥72 trillion at June 30, 2026 with a loan-to-value ratio near 13%, but the shares have typically traded at a large discount to that figure, and the price is highly sensitive to OpenAI's private valuation, Arm's share price and news about how SoftBank finances its commitments. Earnings swing with mark-to-market gains: the Vision Fund booked about $46 billion of gains in the year to March 2026, mostly from OpenAI, while the April to June 2026 quarter's ¥347 billion profit leaned on Intel instead. US investors typically hold the company through the SFTBY ADR, which trades over the counter and represents a fraction of one Tokyo-listed share. That means an ADR holder carries three layers of exposure at once: the value of SoftBank's underlying stakes, the size of the discount the market applies to the holding company, and the yen to dollar exchange rate. The ADR's 52-week range of roughly $10.55 to $28.97 in 2026 data listings gives a sense of how far those layers can move together.
What's driving SoftBank Group Corp. (SFTBY)?
1. OpenAI valuation and a possible IPO
OpenAI is now SoftBank's single largest swing factor, accounting for most of the roughly $45 billion of cumulative investment gains booked so far. Because OpenAI is private, the stake is marked at funding-round valuations and cannot easily be turned into cash, so reporting about IPO timing (delayed toward 2027 in mid-2026 reports) has moved the stock sharply in both directions. SoftBank committed roughly $30 billion more to OpenAI during 2026, with tranches such as the $10 billion installment scheduled for October 1, so each funding step adds to both the potential gain and the concentration. A public listing would give the stake a market price and a path to liquidity, while a lower private valuation in a future round would flow straight into reported losses.
2. Arm Holdings
SoftBank owns about 90% of Arm, the Nasdaq-listed chip architecture company whose designs sit inside nearly every smartphone and a growing share of data center CPUs. Arm's share price feeds straight into SoftBank's NAV, and Arm shares are also a key source of collateral for SoftBank's margin loans, so a large move in Arm tends to show up in SFTBY within days. Arm's licensing and royalty model gives it high margins, and its push into AI data center chips has been a central part of the bull case for both Arm and SoftBank. In one stretch of 2026, Arm rose more than 30% across two sessions and SoftBank gained close to 25% over five sessions, which shows how tightly the two are linked.
3. Financing capacity and leverage discipline
Funding the OpenAI and Stargate commitments has required asset sales, a reported $40 billion bridge loan, a $10 billion loan secured on the OpenAI stake, and an $11.1 billion high-yield bond sale in September 2026. SoftBank's stated policy is to keep LTV below 25% in normal times, and the market watches that ratio, along with any new borrowing, as a measure of how much room the group has left. The September bond deal was described by Reuters as the largest high-yield corporate bond sale on record, which signals both strong investor demand and how much capital the AI program requires. Lenders were initially hesitant to accept OpenAI shares as collateral because the company is private and hard to value, so the terms of each new facility are themselves a signal of how the market views SoftBank's assets.
4. The NAV discount itself
SoftBank has spent years arguing that its shares trade too far below NAV and has used buybacks to close the gap. Third-party estimates put the discount above 50% in early 2026 and narrower during the mid-2026 rally, so changes in the discount can move the share price as much as changes in the underlying assets. The company's own investor materials attribute the discount to portfolio performance, uncertainty over asset values and the complexity of its structure. A listing of OpenAI, further buybacks or simpler disclosure are the paths most often cited for narrowing it, while new leverage or write-downs tend to widen it.
What are the risks to SoftBank Group Corp. (SFTBY)?
Concentration is the core risk: a large share of NAV now rests on two assets, one of them private and valued at funding-round prices that could be marked down. Leverage magnifies every move, and margin loans secured on Arm and OpenAI shares can force asset sales if those values fall. Key-person risk around Masayoshi Son is unusually high, and the Vision Fund has a record of large write-downs as well as gains. For US holders, SFTBY is an over-the-counter ADR priced in dollars on a yen-denominated stock, so returns include yen moves, OTC liquidity can be thinner than in Tokyo, and the ADR ratio and any depositary fees affect what each ADR represents. There is also execution risk in Stargate and the data center campuses, which require large amounts of capital, power and construction before they generate revenue. Finally, the timing of an OpenAI IPO is outside SoftBank's control, and mid-2026 reports of a delay to 2027 showed how quickly sentiment can reverse when that timeline shifts.
Is SFTBY a buy or a sell?
We give no verdict on SoftBank Group Corp.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.
The case for buying. OpenAI valuation and a possible IPO. OpenAI is now SoftBank's single largest swing factor, accounting for most of the roughly $45 billion of cumulative investment gains booked so far.
The case against. Concentration is the core risk: a large share of NAV now rests on two assets, one of them private and valued at funding-round prices that could be marked down.
Read the full bull and bear case on SFTBY, including what would have to change to break either one. Walnut is not an investment adviser.
How is SoftBank Group Corp. (SFTBY) valued? (approximate, October 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see SoftBank Group Corp.'s investor relations page or your broker.
- Net asset value (June 30, 2026): ~¥72 trillion (company figure; ~¥58 trillion in early-August press estimates)
- Loan-to-value ratio: ~13% (policy ceiling 25%)
- Q1 FY2026 net income (Apr to Jun 2026): ~¥347 billion, down ~18% year on year
- Vision Fund gain, FY to March 2026: ~$46 billion, mostly OpenAI
- OpenAI stake: ~13%, ~$64.6 billion cumulative investment
- ADR structure: ~0.5 ordinary share per SFTBY ADR (two ADRs per Tokyo share)
SoftBank is usually valued on NAV minus a discount rather than on earnings, because profits are dominated by mark-to-market gains and losses on its holdings. The company reported NAV per share near ¥12,700 at June 30, 2026 against a Tokyo price near ¥6,000, though press estimates of NAV were lower by August as listed holdings fell, so the discount moves with both the assets and the share price. The 4-for-1 share split effective January 1, 2026 restated all per-share figures. The dividend is small relative to the share price (a post-split forecast of ¥11 per share for the full year to March 2027), so returns for holders have come almost entirely from price changes rather than income.
Who competes with SoftBank Group Corp. (SFTBY)?
Large technology investors and holding companies
Prosus/Naspers, Berkshire Hathaway and Investor AB are listed holding companies that also trade relative to the value of their stakes, and Prosus in particular has a similar persistent NAV discount tied to one dominant asset (Tencent). They are the closest comparison for how markets price a conglomerate of holdings.
AI-focused venture and growth investors
Microsoft, Thrive Capital, Tiger Global, Andreessen Horowitz, and sovereign funds such as Saudi Arabia's PIF and Abu Dhabi's MGX compete with SoftBank for allocations in leading AI companies, including OpenAI rounds. Microsoft is also OpenAI's other major strategic backer.
Chip architecture and AI infrastructure (via Arm and Stargate)
Through Arm, SoftBank's value depends on competition with x86 designers Intel and AMD and with the open RISC-V architecture. Through Stargate and its data center plans, it competes with hyperscalers such as Microsoft, Amazon, Google and Oracle, and with infrastructure players like CoreWeave.
What stocks are similar to SoftBank Group Corp. (SFTBY)?
Other names that sit close to SFTBY: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.
How to invest in SoftBank Group Corp. (SFTBY)
There are three common ways to get SFTBY exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so SFTBY sits alongside other stocks that express the same thesis.
Walnut takes the portfolio route. Describe a thesis where SFTBY fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on SoftBank Group Corp. (SFTBY)
SFTBY is less a company than a levered, yen-denominated basket of OpenAI, Arm and other AI bets, and its price swings with both those assets and the discount the market applies to Son's holding company.
More on SoftBank Group Corp. (SFTBY)
Whether SFTBY is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is SFTBY a buy or a sell?, and where the stock could go from here in the SFTBY stock forecast.
For income investors, whether SFTBY pays a dividend and how the payout looks is covered in does SFTBY pay a dividend? And to weigh SFTBY against a peer, read the full side-by-side comparisons: SFTBY vs BRK-B and SFTBY vs AB.
Wondering how SFTBY fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in SoftBank Group Corp. with AI
Connect the broker you already use and ask Walnut's AI how SFTBY fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is SFTBY?
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SFTBY is the ticker for the American depositary receipt of SoftBank Group Corp., which is listed in Tokyo under the code 9984. The ADR trades over the counter in the US rather than on the NYSE or Nasdaq, and it lets US investors hold the stock in dollars through an ordinary brokerage account. Each SFTBY ADR represents a fraction of one Tokyo share (about half a share, or two ADRs per ordinary share), and its price tracks the Tokyo price converted at the prevailing yen to dollar exchange rate. Because the ADR is a claim on Tokyo shares held by a depositary bank, its value is anchored to the Tokyo market, but prices can drift briefly when Tokyo is closed and US trading reacts to news first.
What does SoftBank Group actually own?
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SoftBank Group is a holding company rather than an operating business. Its largest assets are about 90% of Arm Holdings, a stake of roughly 13% in OpenAI, a controlling stake in Japanese mobile carrier SoftBank Corp., and the two Vision Funds, which hold stakes in companies such as Coupang, DiDi, Klarna and ByteDance. It has also taken a stake in Intel. Over 2025 and 2026 it sold positions including Nvidia and T-Mobile US to raise cash for its AI commitments, so the portfolio has become increasingly concentrated in AI. The Intel stake contributed about ¥1.86 trillion of investment gains in the April to June 2026 quarter, which shows that even smaller positions can move results. SoftBank Corp., the telecom unit, is the most stable cash-generating holding, but it is a much smaller share of NAV than Arm and OpenAI.
How big is SoftBank's OpenAI stake?
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Reports in August and September 2026 put SoftBank's cumulative investment in OpenAI at about $64.6 billion by October 2026, for a stake of roughly 13%. The Vision Fund booked about $46 billion of gains for the fiscal year to March 2026, mostly from OpenAI, and SoftBank has cited cumulative OpenAI gains near $45 billion. Because OpenAI is private, the stake is valued at funding-round prices, and it cannot be sold quickly. SoftBank has borrowed against it, including a $10 billion loan arranged in August 2026. SoftBank also arranged a reported $40 billion bridge loan to cover its 2026 commitments, and an OpenAI IPO, if it happens, would be the most direct way for that stake to become liquid.
What is SoftBank's net asset value and why does it matter?
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Net asset value is the equity value of SoftBank's holdings minus its net debt, and the company presents it as its main yardstick. SoftBank reported NAV of about ¥72 trillion, or roughly ¥12,700 per share, at June 30, 2026, against a share price near ¥6,000. Press estimates in early August put NAV lower, near ¥58 trillion, as listed holdings fell. The gap between NAV and the share price, known as the NAV discount, is one of the main things investors track for this stock. Third-party estimates put the discount around 49% at March 31, 2026, when NAV was about ¥40 trillion against a ¥3,555 share price, so the discount has varied widely through the year.
What is SoftBank's loan-to-value ratio?
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Loan-to-value (LTV) is SoftBank's net debt divided by the equity value of its holdings. It stood near 13% at June 30, 2026, after touching about 17% earlier in 2026. SoftBank's financial policy is to keep LTV below 25% in normal times, with 35% as an upper limit even in emergencies. Because LTV rises when asset values fall, a sharp drop in Arm or a markdown of OpenAI would push it up even without new borrowing, which is why markets watch it closely alongside new loans and bond sales. New financing such as the $11.1 billion bond sale in September 2026 and the $10 billion OpenAI-backed loan in August adds to net debt, while asset sales such as the Nvidia and T-Mobile disposals reduce it.
How did SoftBank's most recent quarter go?
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For April to June 2026, the first quarter of fiscal 2026, SoftBank reported net income of about ¥347 billion, down roughly 18% from a year earlier but better than analysts expected. The quarter included no valuation gain on OpenAI. Instead, gains of about ¥1.86 trillion on the Intel stake and a gain on ByteDance carried the result. That contrasts with the January to March quarter, when a roughly ¥3.1 trillion OpenAI gain drove a much larger profit, which shows how much SoftBank's earnings depend on asset revaluations. Investors therefore tend to read SoftBank's quarterly reports for NAV, LTV and financing updates as much as for the headline profit figure, which can swing from large gains to losses as private and public valuations move.
Why is SoftBank stock so volatile?
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SoftBank's share price reflects leveraged exposure to a few high-growth assets, so moves are amplified. In 2026 the Tokyo shares bottomed near ¥3,500 in March, closed near ¥8,600 in early June, then fell sharply in June and July on reports that an OpenAI IPO could slip to 2027 and on worries about margin loans backed by OpenAI shares. Arm's share price, OpenAI funding news, AI sector sentiment and changes in the NAV discount all feed into the stock, and the yen adds another layer for ADR holders. Mid-July 2026 alone saw a drop of about 17.5% in three days, and one August report described the shares as down nearly 50% from their June peak, so double-digit moves within weeks have been common.
How do currency and the ADR structure affect US holders of SFTBY?
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SFTBY is priced in dollars, but the underlying shares trade in yen in Tokyo, so the ADR's return combines SoftBank's share performance with changes in the yen to dollar exchange rate. A weaker yen reduces the dollar value of the ADR even if the Tokyo price is flat. The ADR trades over the counter, so trading volume and spreads can differ from Tokyo, and the depositary may charge small per-ADR fees. SoftBank's 4-for-1 share split on January 1, 2026 lowered the per-share price, and dividends are paid in yen and converted. US holders may also see Japanese withholding tax applied to dividends, which can sometimes be claimed as a foreign tax credit depending on the account type. Walnut is not an investment adviser, and this is descriptive information only.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with SoftBank Group Corp.'s investor relations page or your broker before making investment decisions.