SoftBank's Japanese payment app PayPay officially submitted its IPO application in the United States

Wallstreetcn
2026.02.12 16:07

Japan's SoftBank Group's digital payment service provider PayPay Corp. has officially submitted an IPO application in the United States, which could become the largest listing case for a Japanese company on a U.S. exchange.

According to documents submitted to the U.S. Securities and Exchange Commission (SEC), the company achieved a profit of 103.3 billion yen and revenue of 278.5 billion yen for the nine months ended December 31.

As of January 1, 2025, the company has 96 million smartphone users in the Japanese market.

The company's revenue for fiscal year 2024 is projected to be $1.9 billion, with a GMV of $10.47 billion.

SoftBank is seeking a valuation of $10 billion or higher for PayPay's IPO. After the listing, PayPay will continue to operate as a subsidiary of SoftBank

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