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SoftBank

SoftBank exec says Japanese fintech app PayPay can go public

Loss-making app can easily achieve unicorn valuation, Miyauchi says

Loss-making PayPay can go public anytime at a valuation of well over $1 billion, a SoftBank executive said on Thursday. (Photo by Taro Yokosawa)

TOKYO -- PayPay, a fast-growing Japanese mobile payment app backed by SoftBank Group, can go public anytime, a SoftBank executive said on Thursday.

Ken Miyauchi, CEO of SoftBank's mobile arm SoftBank Corp., said in an earnings press conference that he was approached by a brokerage about a proposal for taking PayPay public. When asked whether PayPay has the potential to be valued as a unicorn -- a company worth $1 billion or more -- he said it is "not even close," indicating that the figure could be far higher.

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