SoftBank(US:SOBKY) Zhi Tong Cai Jing·2026-02-13 07:43Group 1 - PayPay, a Japanese payment application operator under SoftBank, is advancing its IPO plans after delays caused by the U.S. government shutdown, with expectations to raise over $2 billion and a potential valuation exceeding 3 trillion yen [1] - The company initially planned to go public in December 2022, but regulatory approval was postponed due to the longest government shutdown in U.S. history [1] - PayPay's IPO will be the first major listing of a SoftBank majority-owned investment project in the U.S. since the notable IPO of Arm Holdings in 2023, as SoftBank seeks to raise funds for its expanding AI initiatives [1] Group 2 - For the nine months ending December 31, PayPay reported a profit of 103.3 billion yen (approximately $675 million) and revenue of 278.5 billion yen, compared to a profit of 29 billion yen and revenue of 220.4 billion yen in the same period the previous year [2] - Analysts highlight PayPay's impressive growth and profitability, suggesting it meets the criteria for premium valuation among high-quality companies, with expectations that a successful IPO could boost the U.S. IPO market [2] - Founded in 2018 by SoftBank and Yahoo Japan, PayPay has played a significant role in Japan's digital transformation, rapidly becoming one of the most widely used payment platforms with approximately 72 million registered users as of December 31 [2] Group 3 - Japan has seen a significant increase in cashless payment adoption, although it still lags behind other countries in payment technology, indicating substantial growth potential [3] - Analysts predict that PayPay's strong market presence and the accelerating trend towards cashless payments in Japan may allow it to enjoy a premium valuation compared to its fintech peers listed in the U.S. [3] - While initially focused on cashless payments, PayPay has expanded its services to include credit, banking, securities, and insurance [3]