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SoftBank’s PayPay Keeps Dual Listing on Table After Solid US IPO

PayPay Chief Executive Officer Ichiro Nakayama, center, rings the opening bell at the Nasdaq MarketSite, while SoftBank Group Chief Financial Officer Yoshimitsu Goto, center right, gives a thumbs up.Photographer: Michael Nagle/Bloomberg

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By Min-Jeong Lee and Mayumi Negishi

March 13, 2026 at 4:13 AM UTC

SoftBank Group Corp.-backed PayPay Corp. is open to a dual listing with a presence on Tokyo’s bourse, its chief said after the digital payments company’s $880 million trading debut in New York.

American Depositary Receipts of Japan’s dominant payments app rose 14% to close at $18.16 in New York, above its initial public offering price of $16 and valuing the company at $12.1 billion. The IPO — the biggest in the US by a Japanese company in a decade — is a boon for SoftBank and its telecom arm, which together own a majority of PayPay’s shares.