| Business: |
(Incorporated in Japan)
As Japan’s leading financial technology company, we are dedicated to our goal of becoming a digital finance platform for all. We strive to empower the everyday lives of users and businesses by transforming their smartphones into a comprehensive, easy-to-use, and accessible financial platform that centralizes and simplifies numerous daily activities for ultimate convenience. Through a seamless ecosystem of payment, financial and everyday services, we have served as a game-changer in driving the shift to a cashless and digitally empowered economy. Through continued innovation, we aim to redefine how millions of individuals and businesses in Japan engage with finance throughout their daily activities.
We operate a highly scalable and integrated digital finance platform that serves as an all-in-one solution for users and merchants, built on a robust two-sided network connecting tens of millions of users and millions of merchants. Our platform facilitates a shared ecosystem across payments and financial services. As a clear leader in Japan’s cashless payment market, we offer one of the most comprehensive and versatile service suites in the market, spanning daily payments, banking, credit, investments, and beyond.
Our story started with our code-based cashless payments solution. We launched this service in October 2018 and it rapidly expanded to become a nation-wide leading cashless payments ecosystem that had approximately 72 million PayPay registered users as of December 31, 2025, representing a penetration of 75% among 96 million smartphone users in Japan1. With the acquisition of PayPay Card Corporation in October 2022, our platform evolved to a next-generation payments ecosystem, seamlessly integrating our code-based payment and credit card payment services through our PayPay app. We recorded Payment Segment GMV of ¥15.39 trillion based on transactions processed through our products, PayPay Balance, PayPay Credit and PayPay Card, for the year ended March 31, 2025, and we have consistently achieved over 20% annual GMV growth since the fiscal year ended March 31, 2019. Our payment service is deeply integrated in the daily lives of our users, supporting a broad range of transaction scenarios and thereby driving high user engagement. In addition, we have supported merchants through promotional tools such as PayPay Coupons, PayPay Stamp Cards and PayPay Funding solutions designed to enhance retail productivity.
We further expanded our platform to core financial services. We acquired majority voting rights in PayPay Bank Corporation and PayPay Securities Corporation in April 2025, gaining comprehensive capabilities to provide a broad range of financial services offerings, to become a convenient one-stop financial portal destination for all users. Our offerings include internet banking and lending services through PayPay Bank Corporation and smartphone-based securities brokerage and investment services through PayPay Securities Corporation along with additional value-added services for our users.
Note: Net income and revenue are in U.S. dollars (converted from Japan’s yen) for the 12 months that ended Dec. 31, 2025.
(Note: PayPay Corp. priced its IPO at $16.00 – $1.00 below its range of $17.00 to $20.00 – and sold 55 million shares (54.99 million shares) – to raise $880 million on Wednesday night, March 11, 2026. Background: PayPay Corp. disclosed the terms for its IPO on March 2, 2026, in an F-1/A filing: 55 million ADS (54.99 million ADS) at a price range of $17.00 to $20.00 to raise $1.02 billion, if priced at the $18.50 mid-point of its range. Background: PayPay Corp. filed its F-1 for its IPO on Feb. 12, 2026, without disclosing the terms – other than this will be an offering of American Depositary Shares (ADS). Estimated proceeds were $100 million, a placeholder figure. Some IPO pros said at the time that they thought that PayPay Corp.’s IPO could be a blockbuster with proceeds of $1 billion to $2 billion.)
|
