The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Kazuki Tokunaga - Daiwa Securities - Analyst
: Tokunaga from Daiwa Securities. I have two questions. First about investment in GenAI. In last year's fourth quarter, you mentioned that you kept
investing in GenAI, and once it goes over breakeven, investment in GenAI would grow even further? So the investment that you have done so far
would go over a breakeven point pretty soon and also maybe we should look at longer phase in terms of your investment for the future.
Question: Kazuki Tokunaga - Daiwa Securities - Analyst
: Should we expect more expenses in the future?
Question: Kazuki Tokunaga - Daiwa Securities - Analyst
: Second question about your third quarter you made a steady growth and in line with the consensus. Is there any significant difference by the
segments? For example, do you have still room for growth investment? I don't know, PayPay consumer, there are segments where you want to
spend the money, but do you still have room for investment in particular segments?
Question: Kazuki Tokunaga - Daiwa Securities - Analyst
: About the Sakai actually, do you incur cost once you sign a deal, sign an agreement?
Question: Mitsunobu Tsuruo - Citi - Analyst
: I have two questions. One is about slide 26. So up to this quarter, so the competition is severe this year, and the churn rate is higher and the net
additions as big difference. So what do you see about the situation of this?
Question: Mitsunobu Tsuruo - Citi - Analyst
: The second question. So about SB OpenAI the next fiscal year's PL, what do you see about that? So JPY450 billion from SBG and then SBKK will be
paying to OpenAI. So the ARM or SoftBank bank group, if SBKK are to provide -- offer and resource and what would be this like? And -- So looking
at the resources allocated by SBKK. So how much do you think be spent from JPY450 billion. So what is the plan mid- and long term?
Question: Daisaku Masuno - Nomura - Analyst
: Two questions. First, PayPay. Revenue wise, GMV grew and it looks like revenue was really good, but expenses did not increase a lot. It seems to
be true. I mean next year and onwards, should I expect more expenses as well as more revenue. So can we expect not so much expenses next year
for PayPay? Or should we expect a reasonable level of expenses next year? Do you share with us your view?
Question: Daisaku Masuno - Nomura - Analyst
: Next question about investment in AI. For Sakai plant, if it's running -- started running in '25, in FY27 or '26, you may have to incur some cost after
plant gets running in FY25. And 75% of OpenAI Japan will be gone as minority holding. So I wonder, if you send 1,000 people to be SB OpenAI
Japan, can you sustain?
Question: Daisaku Masuno - Nomura - Analyst
: OpenAI joint venture, even though they make money, only 25% will go back to you, can you strike a balance?
Question: Satoru Kikuchi - SMBC Nikko Securities Inc. - Analyst
: So this fiscal year, I think it's going well. And the next fiscal year's -- next fiscal year's positive factors and the segment, which segment do you think
will be the best contribution to the business or performance as a whole. And since business is going well, you said that there will be -- there are
more choices to make. What kind of choice are you thinking about? Even though you mentioned AI, are you talking about SB OpenAI Japan. Can
you clarify what you mean by options?
Question: Satoru Kikuchi - SMBC Nikko Securities Inc. - Analyst
: So about cash flow the investment to the AI computing infrastructure this fiscal year and the investment can be secured for that this fiscal year.
But for next fiscal year, is going to be covered by the Bond-Type Class Shares as well or what is the scale of investment amount to...
| 
