SoftBank Corp. has emerged as the leading bidder for Blackstone's Japanese payments company, SP.LINKS, according to reports. The potential acquisition, highlighted on June 4, 2026, could significantly bolster SoftBank's financial technology offerings and complement its existing mobile payment service, PayPay.
This move comes amidst other strategic financial activities for SoftBank, including a plan to raise ¥260 billion (approximately $1.6 billion) through a retail bond sale aimed primarily at individual investors, following a similar offering two months prior. The company also recently reported a $12 billion profit driven by an increase in the valuation of its OpenAI stake.
Simultaneously, SoftBank's subsidiary, PayPay, which is Japan's largest smartphone payment service with over 70 million registered users, is in advanced negotiations with Seven & i Holdings to integrate their customer loyalty programs. This integration aims to challenge rivals like Rakuten and NTT Docomo in the domestic market, potentially creating a combined user base of 100 million. PayPay had also planned a $1.1 billion Nasdaq listing under the symbol PAYP, with shares priced between $17 and $20, targeting a market valuation exceeding $10 billion. However, this IPO has been postponed twice, most recently due to geopolitical instability following military actions against Iran, which destabilized global financial markets and led to institutional investor reluctance.
Major institutional investors, including the Qatar Investment Authority, Visa, and Abu Dhabi Investment Authority, had collectively pledged over $200 million as anchor backers for PayPay's IPO prior to its postponement. The company also holds a 40% ownership stake in Binance Japan, linking its operations with the cryptocurrency sector. The ongoing market volatility is delaying the rescheduled launch of PayPay's public market debut.
