Now it is time to start. Good morning, ladies and gentlemen. I am Masayoshi Son, Chairman and CEO of SoftBank Group Corp. I would like to thank you all for joining the meeting today. I would also like to take this opportunity to express my gratitude for your constant support to the company. With your permission, I will chair this meeting pursuant to the provision of Article 13 of the Articles of Incorporation. Now I will call the 40th Annual General Meeting of Shareholders of SoftBank Group Corp. to order. Today, we hold this meeting with appropriate measures in place to prevent spread of the new coronavirus and to minimize risks of infection. While asking our shareholders to kindly refraining from coming to the venue of the meeting, we have set up a dedicated website where you can exercise your voting rights or posting questions online.
We are thankful that the many of shareholders are indeed joining us remotely today. All directors, including myself, are participating through web conference system, too, except Director Jack Ma, who is not able to attend for an unavoidable reason. Please accept his apology. Please note that all questions, motions, or statement you may wish to make should be posted on the website, whether you participate remotely or in person. When you do, please click Comment on the screen. Then type in your comment. The meeting is scheduled to last one hour. Questions or comments should be about nothing other than the matters on today's agenda. The questions and unanswered session later in the meeting should last no more than five minutes. Make sure to sending them before the closure. The website is now ready for you to start posting notes.
With a lot of shareholders joining the meeting today, we would like to limit the number of question or motion to one per one shareholder. Please be concise in making your statement by keeping to the point. Due to the limited time, we may primarily address what many shareholders are interested in. Thank you very much for your understanding. The agenda today is just as set out on page three of the convocation notice of this annual general meeting of shareholders. The number of voting rights held by the shareholders participating today constitutes the quorum. I read the report on the reporting matter as shown on the screen. Details are set out on pages from 21 to 58 and on 61, and also available on our company's website. I would like to present you a summary video on the reporting matter.
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Thank you very much for your attention. I'd like to present the matters for approval. Before moving forward, I'd like you to take note that after the presentation on the matters for approval and business strategy, we will address your questions regarding the matters for reporting and approval. After the question and answer session is finished, we will take votes on matters for approval only. The meeting shall proceed in such a way as described on the screen. If you agree with this approach, please select Approve on the screen, click Send. Please wait for a moment. We are confirming the result. Thank you very much for your patience. With the majority of shareholders agreed, we shall follow this approach. Proposal one is appropriation of surplus. Details are set out on page seven of the convocation notice.
We propose to pay a year-end dividend for this term of JPY 22 per share. This means the annual dividend for fiscal year 2019, including interim dividend, is JPY 44 per share. Proposal two is election of 13 board members. The terms of the office of the present 11 board directors will expire at the conclusion of this annual general meeting of shareholders. It is proposed that the number of board directors be increased by two in order to strengthen management structure and 13 board members be elected. Details are set out on the pages from eight to 18 of the convocation notice. Now, I'd like to present our business strategy. History of humankind that I would like to look back a little bit. Crises have created new normal. This is what I think in these days. For example, back in 19th century, pandemic of cholera occurred. Pandemic crisis.
Back in 1832, cholera outbreak in U.K., about over 1 million people died due to that. To solve that situation, safe water or sewer system was introduced. Sewer system has been constructed, and that became new normal, as if people will take it granted that you'll be able to drink water freely and safely. 1929, Great Depression occurred. Economy was hardly damaged, and 13 million people became unemployed. Unemployment rate reached 25%, meaning one out of four people lost their jobs. To solve that situation, people needed to create employments, jobs. New Deal generates the jobs
For example, hydroelectric dams or road was constructed to provide the jobs for the people. As new normal, people start getting used to electricity, people start getting used to cars in their lives. This time, crisis of novel coronavirus was, and is, impacting people's life largely. About 9 million people has been confirmed as infected as a result. There were so many restrictions on contact of people. To solve that situation, as new normal, I believe digital shift has been and will be accelerated because you cannot meet with people in person easily, and that may create the risk for infection, so that you need to avoid the contacting with people, but still need to run your normal life. That means online meeting, online delivery, online education, online medical care, online shopping, online entertainment.
Those are the one people will be able to communicate each other, or transaction each other. That days has started, and that is becoming new normal. Humankind has already been using wisdom, doing the best effort we can, and try to bring the new normal so that we'll be able to live as before. When it comes to Because people have some difficulty in retail shopping, restaurants, and that business activity has become difficult. Instead, online shopping, for example, Alibaba, Coupang, or Tokopedia, those are our family group companies are now expanding their business. For example, food delivery is another thing. Uber Eats, they are a public company, so they have disclosed some numbers, and the gross booking of Uber Eats has increased 52%. Also, we have DoorDash or Coupang under the umbrella, or the Grab.
They are also providing such services in respective countries and markets. To solve the problems for people's lives, that we're trying to solve those problems as much as possible by providing such services to the people. Also online medication system or online medical service, this is another of our group company, Ping An Good Doctor. As you can see the numbers, back in December last year, and the year before, monthly active user was about 60 or 50 million people. 50 million or 60 million. However, this year, from January 20th to February 10th, only three weeks, only for three weeks, about 1.1 billion visits this app. One is the unique user, the other one is cumulative, the numbers, so that we cannot compare apple to apple. However, still, this is a tremendous number of people visiting online. Many of the medical service was asked.
Also on education aspect, because school was closed, and that happened many of the countries. Again, here, our Zuoyebang has a monthly active user, in April, of about 137 million. Many students were able to receive their education online. In entertainment world, ByteDance. This is not a comparison with the other entertainment company, but actually compare with all the application download, for example, compare with WhatsApp, Facebook, Instagram, Messenger, those very remarkable communication tools and apps. Even compare with those, actually, TikTok has been downloaded 315 million times between January to March this year. Our investee is now reaching the number one downloads worldwide. Here is the online meeting as one of the latest edge technology, Slack, has increased number of customer base by 28%. Many people is remotely working, and this too is providing the support for that.
This is something, one of the solution for addressing the COVID-19, and therapies, vaccines, is another things that our Investee Via, which is a great company. As a matter of fact,
Vir Biotechnology uses high-throughput biology and AI to assess millions of antibodies and bring optimal candidates into clinical development quickly. Vir Biotechnology has selected two antibodies from thousands of identified candidates for COVID-19. Testing in humans will begin this summer. I'm so expecting on this company, with these vaccines or antibodies, once those are ready, people worldwide will be able to also receive this to help their lives, and that can be a good contribution to the society, worldwide. Roivant, also using AI in developing therapeutic medicines. As you saw these slides, crises in humankind and solution for that, I believe digital shift is going to create new normal. I believe that digital shift will make even further progress going forward. This is not something that we taking this opportunity, but rather, we would like to step inside to solve the situation for people's new normal.
Since our foundation of business, actually, we've been pursuing this digital shift and leading the world. I believe we'll be doing without taking a breath, that we would like to continuously put an effort to drive this digital shift. When it comes to shareholders' interest, how is SoftBank's current situation? We hear a lot about concerns since we recorded the biggest loss in our corporate history, so that concern is valid. We are a strategic holding company, as you know. We are not operating company. We have great operating companies like SoftBank Corp., our domestic telecom business, and Arm, our Vision Fund, Sprint, which recently got merged with T-Mobile. Those excellent operating companies are with us in the group. When it comes to holding company, that's SoftBank Group Corporation, we are strategic holding company, not operating company per se.
Not only those big companies, but also unicorns are the ones that we have through SoftBank Vision Fund. Now we are strategic holding company. The question is, which is better KPI, EBIT or shareholder value? The question is, EBIT, is it the most important KPI or not for us? My view is not. Maybe I have kept saying for some time, but let me repeat once again. The latest shareholder value is more important. Before COVID-19, as of December 2019, equity value of holdings was about JPY 29 trillion. Also we had a net debt worth JPY 6 trillion. Equity value of holdings, you are shareholders, and you have SoftBank share. Suppose that if you have borrowing to purchase from the equity value that you have. Equity value minus net debt equals to shareholder value, which is JPY 23 trillion in our case, as of December 2019.
Our market cap is around JPY 11 trillion. Of course, it depends on the time. Per share, you have value twice as much as market cap. That's a SoftBank shareholder's value. As of end of March, when we recorded the biggest loss in our corporate history, loss in operating income and loss in net income were the loss that I'm talking about. The biggest operating loss, to me, is not really a big issue. Bigger issue, however, is shareholder value. Shareholder value dropped from JPY 23 trillion to JPY 21.7 trillion. That is more important for me. We also saw increase in net debt by JPY 0.3 trillion. The shareholder value dropped to JPY 21.7 trillion from JPY 23 trillion. That's more important for me. In the pandemic of COVID-19, SoftBank share price dropped by half. I'm sure that you were worried about our performance.
As of today, our equity value of holding is JPY 30 trillion from JPY 29 trillion in December. We are even better than pre-COVID-19 in terms of equity value. We increased the net debt a little bit. All in all, we have shareholder value around JPY 23.3 trillion. Again, we are better than pre-COVID-19 and even better than March, when the COVID-19 crisis was peak in Japan. I think that we've been improving. In the process, SoftBank share price dropped by half, like I mentioned earlier. Back then, the market overreacted and overshot downward. That's my personal view. Anyhow, we have been improving slowly but surely. The day before yesterday, we made an announcement, big announcement, actually. In the past, we were really aggressive in entering the U.S. telecom market.
Sprint, we acquired Sprint back then. People thought that Sprint had been the huge loss was made around the Sprint business, and we caused shareholders a huge concern. People would say that SoftBank is dead. It's not SoftBank anymore, SoftPunk. Puncture, if you will. As you know, the merger was successful, and we announced to sell 200 million shares of our new Sprint T-Mobile company. Looking back, investment to Sprint acquisition cost was 2.1 trillion JPY. It was not that we had 2.1 trillion JPY in cash. We had only 0.4 trillion JPY, and we made huge borrowings to acquire Sprint. That borrowing part, I'm sure, caused concerns because people said that SoftBank is always stretching and trying to extend the business, and SoftBank is like a betting on future business opportunity.
Consequently, what happened was, currently, value is JPY 3.6 trillion, and we still keep one-third of Sprint because we don't want to give them up altogether. Also from agreement perspective, we need to keep some. Anyhow, a borrowing amount remained almost same. Acquisition cost, investment we made grew from JPY 0.4 trillion to JPY 2 trillion, so close to five times return we enjoyed. Again, from JPY 0.4 to JPY 2.0. In terms of IRR, 25%. So I'm confident that we were able to increase the value. In fact, JPY 3.6 trillion is not the final number, because after the merger, T-Mobile is growing, and I believe that T-Mobile will grow further. Eventually, it's not going to be JPY 3.6 trillion, and we hope that it will be better and bigger than JPY 3.6 trillion.
Not just five times, six times, seven times. We believe that there's still growth opportunity, and we can get bigger return. Of course, that's my personal wish. At least, many times people said that you made a huge mistake in Sprint, but now we can say that we were able to increase the value of our business, which is Sprint. Three months ago, in the middle of COVID-19 crisis, we wanted to drive safe, and we made announcement of sale and monetization of assets sold totaling JPY 4.5 trillion. People said that, "Can you really do that? That big amount?" Even though SoftBank has JPY 30 trillion of assets, but still, you can't do that when you want to sell.
Actually, even though you may have unrealized value at the moment, but when actually you want to sell your assets, maybe it might be ending just theoretical, not actual. Sometimes I would like to say back to them, well, maybe I should say, when we have some cash in hand, we want to maybe speak back to people who have concerns and worries about us. In just three months, we were able to achieve 80% progress to our goal of monetization program, JPY 4.5 trillion, and the remaining 20%, in my mind, is in the progress. T-Mobile. Extra opportunity should come, and please rest assured that this program is going well. Again, we are a strategic holding company, and we have equity, and Alibaba has the biggest equity value in our holdings. The equity we have, you may say that just a bubble and it's just unrealized gain.
Sometimes stock price goes up and goes down, it's just something virtual. Some people say that. Is that true? In fact, many people spend their money to get those shares. Of course, shares go up and down, but important thing is to look at the value of the business. Like you can see here, their revenue has been growing exponentially. Not only revenue, but also non-GAAP net income is growing steadily, 42%. 42%. Up and up. That's a fact. As you saw before, in the COVID-19 pandemic, e-commerce importance is growing because in the crisis, there were some people who experienced e-commerce for the first time, and they realized how convenient it is. That's, again, part of new normal. Safe water, electricity, and automobiles.
Every time crisis hit in humankind, new normal was born, and another new normal has been born, and people's shopping style has and will be changed. Let me talk about Arm. Most of the smartphones around the world are built on Arm chipset. Again, Arm is one of the most important company that we have. As you can see, Arm-based chip shipment has been growing exponentially, whether economy is good or bad, whether interest rate is higher and lower, or employment is good or bad. Regardless of change of times, Arm-based chipset has been growing exponentially in terms of shipment. Not only smartphones, but also other computers are built on Arm, and also home appliances, some of them are built on Arm, especially servers that are used for cloud are increasingly using Arm.
AWS is the biggest cloud in the world, that's Amazon's cloud service, and AWS CPU or the engine of the computer, has migrated from different one to Arm chip. Arm's market share in server last year was 1%. Right after we acquired Arm, it was almost zero, and last year, 1%, this year, 4%, and next year, the year after, I'm sure that it will grow exponentially. Why? Because Amazon's AWS, which is the world number one cloud, has adopted Arm. In order to compete Amazon, they have no choice but to adopt Arm's chip, otherwise they can't beat in terms of processing speed and power. In order to compete again, Amazon or AWS, other cloud operators have no choice but to migrate to Arm. The day before yesterday, there was an announcement in Japan. A Japanese supercomputer named Fugaku ranked as the world's fastest supercomputer.
Unlike traditional Japanese supercomputers, Fugaku, instead of using specific customized CPU design, Fugaku adopted standardized CPU design. Software, not customized software, but world standard software can be utilized for this Fugaku. Not only in terms of speed, but also in terms of commercial use case or availability for commercial use cases, Fugaku is excellent. In terms of speed, Fugaku became the world's number one, but not only speed, but also applicability is one of the strength that Fugaku has. On top of that, they don't need a lot of power to run Fugaku. Why? Because it's Arm. Can run CPUs as many as 160,000. I'm sure all of them are Arm-based CPU. I need to double-check, but I believe that almost 160,000 CPUs are Arm-based, and they can run in parallel, which delivers the fastest speed in the world.
It is suitable for a lot of commercial application. That's great. In the pandemic of COVID-19, the stock market has been heavily affected at the time of earnings result. Maybe I looked very serious and somber, not only because of our performance, but sad because of the people suffering from COVID-19, and I was frustrated. Might ask me, "Are you okay? Are you worried?" Today, I want to talk about business performance and our future opportunity. Like Vir Bio, they have been developing a vaccine and antibody, and that development has made me happier a little bit. In terms of our business performance, I have confidence as much as before, and like I keep saying, we are a strategic holding company, and most of the equity we have is Alibaba, T-Mobile, and SBKK. That consists of the majority of our equity holding.
If you put in some index on weighted average and calculate assuming December 31, 2019 was 100, Nikkei and Dow Jones dropped dramatically like you see on the slide. Most of our holding has not really Meaning, digitalization and digital information revolution continues to grow no matter what happens. Put into perspective, we have old economy. Old economy in general is what I'm talking about here, not specific industry or company. We are looking at digital economy, not old economy. The value of companies, value of industries, if you put them together in terms of value, in old economy, it's stable but flat. In the digital economy, it's volatile. The value sometimes goes up, sometimes goes down in terms of value. If you look at big picture, it's growing exponentially in digital economy.
The value of business, value of a company, value of industry grows exponentially in digital economy. This growth is in relation to internet traffic growth. Automobile company's value is in relation to the number of cars in the market. The corporate value in digital economy is relative to internet traffic curve. That's my view. If I put a line on top of this, again, SoftBank is a strategic holding company, and the value of equity hold minus net debt is shareholder value. SBG's shareholder value is relative to internet traffic growth curve. If I show you the breakdown, since 1995, if you look at the shareholder value in big picture, internet bubble took place in 2000, and SoftBank's market cap was around JPY 20 trillion at certain time. Market cap of SoftBank was higher than shareholder value, but that was maybe just a bubble.
After that, our shareholder value has been steadily increasing. Green, SoftBank KK, and yellow and magenta, the Sprint and now T-Mobile, and Arm and SoftBank Vision Fund. The biggest portion, the orange part, is Alibaba. Since going public, Alibaba's value was realized. Before that, Alibaba was losing money. After going public, the value has been materialized, and it plays an important role for us in terms of shareholder value. To summarize, just 10 years ago at shareholders meeting, we announced next 30-year vision, because back then it was 30-year anniversary since the founding. When I founded the company, there were two employees, and those two employees left just in one week. After that, it took 30 years, and we announced the next 30-year vision in 2010. It's been 10 years since then. Let me look back.
In 2010, we envisioned brain computer will be realized. You can say AI. Computing powered by AI will be materialized in 30 years. That was what we envisioned 10 years ago. I think that the reality is getting closer and closer because AI is becoming common in our conversations recently. DNA treatment and artificial organs will be more and more common. That was what we envisioned in 2010. In the next 300 years, the life expectancy will be 200 years, and back then people were like, "What?" DNA treatment can be available utilizing AI. Again, the reality is coming closer to our vision. Also, we envisioned that people would coexist with intelligent robots. Back then, we did nothing about robots in 2010. Just in 10 years, Pepper and Boston Dynamics' robots, SoftBank Group have been developing. Those robots are built on AI.
Again, there was none in 2010. We envisioned in 2010 that everything would get integrated with internet and cloud. The cloud would become the biggest asset in mankind. In 2010, few people knew Amazon's AWS, but now cloud is becoming the biggest asset in humankind. SoftBank's consistent information revolution, happiness for everyone. Our philosophy remains the same since the founding of our company. In the process, we wholesaled personal computers, and we delivered LAN and internet services, and you did different things here and there, but I said that we are coherent and consistent. We want to drive information revolution. Well, sometimes people may say that, "What you are doing, what they are doing," but what we really want to do is information revolution.
Methodology may be different depending on the time, and tools may be different depending on where you are, but that's not a big issue. What we want to do, what we want to make happen, is information revolution. We want to make everyone happy. Putting together the people who share the same vision and make this happen, that's what matters to me most. Again, information revolution is our consistent philosophy. Power and speed to make them happen is what we have as a strategic holding company. That's our strategy. This is my consistent, coherent message that I pass on to you today. Thank you very much for your attention.
I would like to address questions posted on the matters for reporting and approval. May I remind you that questions and answers section for you to post a dedicated website will be closed 5 minutes after we start Q&A session. If you wish to make any comment, please click Comment on the screen to send it. Thank you. Let me address questions posted. We are checking the questions. Thank you very much for waiting. We have preregistered questions in advance. I would like to start with those. The first question is: You have been telling the public that you will pass on the torch to a successor when you are in your 60s. Is it still the same? Thank you for your question. No change. Right now I am 62, 63, that's about there.
I have still seven to eight years left, and I would like to be active and being involved as the chairman and CEO of SoftBank Group. When it comes to 69, medical technology has been developed as well. I said roughly 60s, so I may go beyond, but that's that. I will decide when the time comes. That's about it. I mean, roughly. I don't want to be strictly on the date of the birthday of 70, that I have to retire, anything like that. I don't want you to accuse me. I want you to be a big mind and accept, and I would like to revise a little bit here that's not too strict. Roughly around that time that I will consider. That's the kind of a feeling I'm having right now.
At that time, it also depends on my health conditions and so on, and also depending on company's situation or business status as well. That, roughly, if you can accept that as a rough estimation. If I may be a bit wrong, please accept my apology beforehand.
Next question. How do you decide where to invest and manage it properly when the business climate is changing? Relying only on your personal capacity should have a limitation. Thanks for the question. On my capacity? Well, in fact, to be very honest with you, I am confident. Maybe I am too confident, some people may argue. Again, to be very honest with you, I am well confident with myself in my capacity. Because I am very confident, you are just one man, a leader in a company. Since that group is really big, I think that my capacity will put a limit on something of our people. Putting their capacities and competence together, we can deliver more than just one person's capacity. We have more and more excellent people, not only in Japan, but also in the world.
Marcelo, for example, played an important role to make the merger successful. Rajeev, without him, we were not able to create Vision Fund. Again, he's been really working hard for us. Companies like Viavio, Coupang, Grab, Uber, we often mention those names. Without Vision Fund, we could not have achieved, acquired, held them. Again, thanks to Rajeev, we can expect more from SoftBank Vision Fund. Not only that, like financing and funding and in any other areas, for example, CFO, Mr. Goto. Goto-san always gives me a hard time. "Masayoshi, we don't have that money." Goto-san is really working very hard, I should appreciate him. A lot of excellent people are working in SoftBank, and then put all competencies together.
Let me go to the next question. How do you decide dividend amount? If it is too low, share with us your view on the return for the next few years. Dividend is low, but you may not be able to see the dividend in future. That's something that I mentioned at the closing of the earnings at the March end, that you may not be able to expect too much on dividend. That's my honest opinion at this moment. Of course, that we will try to provide the good distribution of dividend, but at the same time, at this moment, JPY 4.5 trillion program is going, and rather than distributing as dividend, I think we can also do a share buyback of JPY 2.5 trillion that we have announced. That can be also the way of return to shareholders.
That's the biggest in Japanese market, in the record, I believe. JPY 2.5 trillion share buyback as the one direction that we have already announced to the public. The resolution of the board meeting and execution itself will be done in a phased manner, at the quarterly basis.
Raise money and purchase those shares in a safely manner. We have already announced the direction of the program. Mainly that we would like to make a return to the shareholders. Next question appears. How do you calculate compensation? Well, executive compensation, I like to be generous. In fact, I want to pay more. Well, maybe I shouldn't say this. In order to grow corporate value, you have to work hard. If people work hard to increase shareholder value, the people who contribute to increase the value, I want to be very generous to pay back to them. Increased shareholder value, I want to pay back to people who contributed to increase shareholder value. I want to be very generous. In fact, maybe Japanese companies should pay more.
I think a compensation scheme, traditional Japanese company's compensation scheme, is something that maybe I should challenge, because under that traditional Japanese compensation scheme, people may not want to take risks, the people may not borrow money, without taking risk, how can you grow your company? You should take more risk. That's my argument. What are you afraid of? Even though you may have to borrow money, for example, Sprint case. We had only the huge debt. We reached a goal, and we were able to increase the value five times. Of course, without confidence to go through the risks, you should not take that risk. If you have confidence that you can get through, you should be willing to take risks. They deliver, they should be paid back, they can take another risk. That's my view. Let me go to the next question.
Under the COVID-19 situation, I think you should help those companies that are trying to support the future, and you are monetizing those assets. I think that's inconsistent with your target, making your market cap the largest in the world. What do you think? Of course, the umbrella needs to be given to the others. The bank, actually, sometimes one expression is that the bank will give you the umbrella when the umbrella is needed. We are not the financing business. Whenever you make a loan, the collateral is needed. We are investing in venture companies, it's not that providing the money for the collateral. We are looking at the future of the company and making the investment in such companies. Actually, the money is going to even higher risk, but still, it's not that everything is always perfect.
The business plan is not always perfect. Sometimes, the business plan will not be able to execute and still asking for our money, then that's a little bit strange. That's awkward. For example, that could be another WeWork, for example. WeWork right now that are trying to recover is full speed, and actually it's showing a good sign and making a good progress right now. That's something that I am expecting on at this moment, but at least it's not that we will provide the money to rescue the company. In principle, we will provide the money because we have a belief in this company with future. It's not that we will give you the umbrella because you have rains, but rather we will give you umbrella when you already seeing some shining suns. Next question.
Are you going to take the management control of a company that SoftBank Vision Fund invests in? Are you going to make it in your group company? Suppose SoftBank Vision Fund will exit from those invested companies in principle in 10 years or so. You can extend two years. Total 14 years, you have to recoup the investment. In principle, we exit. That's basic case or in principle. Sometimes even though we pay back to our investment partner, but the SoftBank's portion will stay, and those companies may become our SoftBank group's core companies. That's actually exceptional cases because in principle, base case is once you invest, we exit and recoup investment as a venture capital, if you will.
Next question is about our business. Main chip, more than 95% smartphone are adopting Arm chip technology. What is the technology like? That's the question. In my presentation earlier, I mentioned Arm, it's like a CPU, it's like an engine for the car. The engine for the car is built-in the body of the car. It's like Arm chip. This, not only for smartphone, but actually it is built-in our automobiles, games, electricity, home appliances or the clouds. This is recently also providing the AI features or adding the AI chip next to it. That's something that enhancing features. You can use for the IoT type of things, you can use it for a large one. AI is actually developed in there.
The next question, about our policy on share buyback. Like I said earlier, we made announcement of share buyback worth JPY 2.5 trillion. The announcement was on 23rd of March, that's the direction. It's not a commitment or promise, excuse me, JPY 4.5 trillion, 80% of the program we have already gained. Also, we have confidence with remaining 20%, we could utilize that fund to repurchase our shares.
One another question. What is the synergy for investees? Who is taking responsibility to enhance the synergies between investees? I want you to explain about that. Synergy, when you talk about it's not something you can force them to do. We are not the holder of more than 51% or 100%, anything like that. We are just about 20 or 30% holdings or the ownership of those companies. For Alibaba, we have about 25% ownership. For Alibaba, we never, ever force them to generate any synergy with something. Even without forcing them or forcing the company, as long as they are a great company, they'll be able to grow by themselves. Without forcing anything, Alibaba and our group companies has been creating the partnership to generate the synergies in between, and actually, we've been seeing great results here and there.
Synergy itself is just to encourage them to think about that, so that they'll be able to create even stronger ties in between those companies. Us being a big shareholder, as long as we can be happy, and they may be able to promote their partnership or synergies to make us happy as a big shareholder. If they don't really try to make us happy, then that we may not want to hold on to it, then that's going to be disposal. Having family members in our group, and if we are comfortable and convinced, then we have a relationship between big shareholder and the kids or those companies, and we have such strong tie, and that's a good thing, so that you try to make each other happy.
Even the father and the son or the mother and the daughters, that whatever it is, that try to make counterpart happy. If there is any dangers, that you try to cooperate each other to overcome the difficulty. That's the kind of family it is.
Next question. When you acquired ARM, you said that ARM would become one of your core companies in the group. I keep saying that ARM is great. I love ARM. I believe that ARM's presence in our group is getting stronger and stronger. Information revolution. Information revolution is caused by CPU, and CPU can be an engine to drive information revolution. Data is energy for the engine. Engine is ARM, and the data is like oil for the cars. Putting engine and oil together or putting ARM and data together, we can generate information revolution. In any way, our group companies are using ARM. I think that almost all our phone mobile users are using ARM.
and OneWeb that you have recorded a loss, but nobody's taking responsibility. Actually, big compensation is given. I can't understand that those directors should return the compensation, taking the responsibility. The biggest responsibility comes to me. WeWork, for example, our managements, employees, many people actually against the idea from the beginning, as a matter of fact. In the middle of the process, people were showing they are against the idea. Some people were upset, and I was also speaking back. In the course of the discussion, we have came to the decision and made the investment. I believe I have the biggest responsibility for this, and the biggest compensation return should be coming from me. I myself have reduced my compensation from SoftBank Group. This time that I have reduced as well.
I spoke to the HR the other day. They asked me for the compensation. I said, "I'm okay. Zero is fine. I have to reduce my compensation. Otherwise, I'm so sorry about the situation." If we make it to zero, that's going to be some issues there, here and there. I think it was JPY 100 million or something like that, is the compensation. Those compensation I received, from JPY 200 million to JPY 100 million. That's a deduction that I have made. I am actually not using, actually donating all those compensation to the others. Actually, the money that I'm receiving from SoftBank Group is zero, as a matter of fact. Once it comes to zero, there is no further deduction of the compensation. What should I do?
I would say, I am as a major shareholder of the SoftBank Group, so share price going down of SoftBank Group will be the biggest deduction of my compensation. Share price going down, we're going to be making trouble for you, but also the biggest trouble and the biggest penalty for me as well. I believe not me deciding, but actually investors yourselves and shareholders are deciding that if you need to punish me, then that the share price may go down. Even that we failed here and there, but still making up by the other success, and that success is bigger, then I believe share price will go up. That's the kind of comprehensive view that I want you to think about. I believe that judgment is made every day basis as share price.
Also, I think that we should evaluate our other management with total, not only one case or one project, but I would like to evaluate in total as a comprehensive way.
Next question. In new normal post-COVID-19, what service area you want to focus on most? That's the question. Like I said earlier, online shopping, online education, online entertainment, online work, online medical consultant. That's something that I want to work on to help information revolution. Everything will be digitally transformed. Hotels and offices in the middle of COVID-19 pandemic, some people are restricted going outside, but eventually post-COVID-19, people will get back to life more actively and autonomous driving will grow further. What's in common around everything is digital transformation, driven by AI. The company that will drive digital transformation on AI is going to be something that will grow further. We are not planning to invest in old economy.
You are increasing your direct board of directors by two members, and what is the reason?
Independent director, that has decreased to two, and we have double, and now we have four independent directors. We would like to receive the good feedback, opinions from independent directors so that we can enhance our corporate governance and stop me if I'm making any bold move. I believe many people and many managements and executives also are making lots of comments to me, bold enough, and sometimes I argue back to them as well. We are always having healthy arguments in between the board and the management. Also, it is important for us to have an independent director.
executives, internal executive telling me, sometimes that makes more effective by independent director speaking up. That's the reason why that we increase the number of board members.
Next question. Of 88 companies that you invested in, how many would become like Alibaba, you think?
Well, Alibaba has become a big company, but again, like I said, it still grows. In terms of market cap, Alibaba is one of the world's top five. Maybe one, two out of 88 might be like that, company like Alibaba. Of 88 companies, like I said at the previous earnings result, 15 may not survive, but 15 may fly for success. Successful potential 15 are in sight, and I have huge expectation from those.
Next question. This time of AGM, you just accepting the easy question, and that will cause a doubt on the untransparency of the AGM.
Well, thank you, your question. Because of COVID-19, it was difficult for us to let people gather together. Once situation improved, then of course we would like to convene the meeting in person and hear the questions directly from you, shareholders. Within the same room, feeling the same air, that I would like to have a meeting again when the situation change, and hope we will be able to see that day, early as possible. This internet online meeting has some advantage as well. For example, of course, although, the other day, SoftBank Corp. or Z Corporation, I mean, convened the online AGM, and there are about 40,000 viewers at the same time, if I remember correctly.
That 40,000 simultaneously gathering together, holding a meeting is not possible if it's physical meeting, but by having this as online, we were able to convene even more people, and also have opportunity to make questions, we can answer those questions. Complete online AGM is the first time for us, we would like to evolve and develop further for the next time.
Next question. Of new board of director candidates, can anybody put control over you? I mean, to make sure that you go out of control.
We had executive meetings, and we received a lot of constructive questions from those candidates. We believe that our future will be great, thanks to those outside director. I'm talking specifically about Ms. Obviously, she has expertise, and she has given us, and she will give us very constructive opinion and feedback, and we welcome that. Mr. Iijima and Dr. Matsuo, who are our board members currently, give us great opinion and feedback. Lip-Bu Tan is one of our candidate directors. In fact, he has been serving boards in many, many companies. He has been running businesses also, many companies. He is a chairman of a listed company, Cadence. Since he became chairman, their market cap grew, I believe, 20 times or 40 times. I respect him. We are looking forward to hearing a lot of constructive opinions from them.
Well, sometimes just putting a brake is not good. Sometimes maybe you put off your foot from the brake engine.
In the interest of time, and I understand there are more questions, but we will address two more questions from here. Next question. Thank you very much. Purchase of a share buyback if the share price goes above JPY 7,000. Also T-Mobile, I don't want you to sell any further. Those are the questions that I have received.
What is the right price to buyback? That's also depending on the situation, depending on the value of our assets. All the circumstance, environment, our cash management situation, we need to see in comprehensively. What is the right price to do the share buyback is not something I can make any comments about here. We will, of course, like to make a good progress on our program, in a phased manner. T-Mobile, I don't want you to say any further. That's your also opinion. I believe that you are very much expecting on the value of the T-Mobile in the future. Between us, Deutsche Telekom and T-Mobile, the remaining share will be kept, majority will be kept in, four years or so. That's the agreement between the concerned parties. That's the kind of a way, in principle, I believe.
Of course, this is depending on the situation and negotiation with the counterpart, it's subject to change. This time, again, because of negotiation, we have changed the situation. Depending on the many move of factors and situation. In the amendment of the agreement this time, Deutsche Telekom has the offer from us and also, possibility is to execute that in earlier phase. That, I believe, is still one of the terms for the agreement. That's another thing that may be decided depending on the situation. The growth of the T-Mobile is something that we are very much expecting on. Under the monetization program, those that has been disposed, that's not because we are selling or disposing, that they are not growing, but rather because we needed money. That's why that we have disposing of those assets. That's also the case.
We will address last question. You talk about the information revolution. Are you going to enter satellite business? With OneWeb, we wanted to build telecommunication network using OneWeb technology, but like a shooting rocket and operate a satellite, I don't think we will do that. Of course, you never know what will happen, but at the moment, at least, I don't have any plan to go into a satellite business. In the interest of time, maybe we should go on to taking votes. Now I would like to close the Q&A session and move on to taking votes on matters for approval. I will take a vote on proposal 1, appropriation of surplus or dividend payment. All those in favor, please select approve on the screen, click send. We will report result of the votes later.
Now, I will take a vote on proposal two, election of 13 board directors. All those in favor, please select approve on the screen, then click send. Please wait for a moment. We are confirming the result. We've been receiving many questions, and I was taking, and I became passionate, and I was making a speech or something. First, I was told that we should be closing the meeting in one hour, and because of COVID-19 situation, and they are actually telling me to close in one hour, but sorry, I passed the hours already. We already exceeded the time, but I wanted to answer as many question because we received a lot of meaningful questions. Thank you very much for that. Yes. Thank you for your patience. I will report the confirmed results.
Both proposal one and two have received the majority of affirmative votes and have been approved in the form proposed. Ladies and gentlemen, this concludes today's agenda, and I hereby declare the 40th annual general meeting of shareholders of SoftBank Group Corp closed. Please note that the newly elected board members are shown on the screen. We hope you have a chance to meet them in person in the future. Last but not least, the term of office of Yuma, who was on the board for 13 years, has expired at the conclusion of this meeting. As of today. A few days ago, I believe he has already expressed to step down from the board of SoftBank Group, and also he has already announced that he is stepping down from Alibaba Group. Stepping down from CEO position of Alibaba Group.
Mr. Daniel Zhang has already received the torch from Jack. With today's expiry of his term, and also on same day, I myself would like to step down from the board of Alibaba Group. With my hope that I have already spoken to Alibaba, Jack is stepping down, and along with that, I myself also like to step down from the board of Alibaba Group. It's not that any arguments in between us and them or anything like that. It's just a happy ending, actually, that with Jack is kind of graduating from SoftBank Group, and I am graduating from Alibaba Group as a board. On the same day, as of today, I am stepping down from the board of Alibaba Group. With this, taking this opportunity, I wanted to communicate it to you.
I would also like to extend my sincere appreciation to his greatest contributions to SoftBank Group Corp. Even after he is stepping down from the board, we are the large shareholder of Alibaba, and also they are a very important asset of ours, and also one of the core assets as well. As I mentioned, Jack has already stepped down from CEO of Alibaba Group last year. Me and Jack, and after we're stepping down from respective board, Mr. Daniel Zhang has already succeeded the CEO position of Alibaba Group and hope he will continuously lead the great Alibaba as a young and a great leader. We are so convinced that he'll be able to make that happen, and we are so grateful that he is such a trustful person to lead, and we would like to celebrate him.
Me, myself, and Jack's retirement from the board is sign of trust to Daniel and a sign of respect to Daniel as well. Because we're so convinced that he can lead the great company, but still, Alibaba share, of course, we would like to be a long holder as much as possible. That is all from me. Thank you so much once again for joining us at the general meeting of shareholders today.