SoftBank pays off its OpenAI bridge loan early, takes a ¥321.9 billion derivative hit

SoftBank repaid its OpenAI bridge loan ahead of schedule and booked a ¥321.9 billion loss on the associated derivative. The early payoff moves the financial risk onto volatile equity values, tying the group’s exposure more directly to market swings rather than fixed debt terms. The hit weighs on SoftBank’s reported results while preserving strategic flexibility around its OpenAI stake. Investors will watch how the company manages mark-to-market moves on that position and whether further financing or hedging follows.