From Red Ink to Profitability
The financial trajectory outlined in the filing suggests a company that has shifted gears decisively.
For the fiscal year ended March 31, 2025, PayPay reported total revenue of ¥299.1 billion (about $1.9 billion) and operating profit of ¥35.5 billion (roughly $232.3 million). The company said it transitioned from losses to profitability over the past three fiscal years.
For the nine-month period ended Dec. 31, PayPay posted profit of ¥103.3 billion (approximately $675.4 million) on revenue of ¥278.5 billion (around $1.8 billion), underscoring accelerating earnings momentum.
Investment bank Renaissance Capital estimated Thursday that the offering could raise as much as $2 billion, a figure that would make the SoftBank-backed PayPay IPO one of the more substantial fintech listings of the year.
Wall Street Heavyweights Lead the Charge
The underwriting roster reads like a who’s who of global finance. Joint book-running managers include Goldman Sachs, JPMorgan, Mizuho Securities and Morgan Stanley & Co..
PayPay plans to list on the Nasdaq under the ticker symbol PAYP, according to a company statement.
A company representative declined to comment beyond the contents of the filing. Counsel for the parties did not immediately respond to requests for comment.
As global investors scan the fintech horizon for the next breakout listing, the SoftBank-backed PayPay IPO now stands as a flashing signal — a calculated leap from Japan’s digital checkout counters to the bright screens of Wall Street.
