PayPay Files for US IPO With $675M in Profit
SoftBank-backed Japanese payments giant PayPay officially files for a US initial public offering.
PayPay, the SoftBank-owned Japanese payments app, just dropped its IPO paperwork in the US. The company is clearly not messing around — it's coming to American markets with serious financials to back up the move.
The numbers tell the story. PayPay reported roughly $1.82 billion in revenue and $675.47 million in profit for the nine months ending December 31, 2025. That's a payments company printing money, literally and figuratively.
The filing marks another high-profile move by a SoftBank portfolio company toward public markets. PayPay has established itself as a dominant mobile payments player in Japan, and a US listing signals ambitions well beyond its home turf.
Details on pricing and timeline haven't been disclosed yet. But with margins like that, Wall Street will be paying attention.