IPOJapanese payment app and UK chip designer share parent company and strategiesA household-name Japanese company listing directly in the U.S. without also listing in Japan is very rare. (Photo by Riko Sato)MASAYUKI SHIKATA and SHOGO FURUTAMarch 14, 2026 06:40 JSTTOKYO -- Japanese smartphone payment service PayPay's choice to go public in the U.S. rather than in Japan stems from the success of Arm, the U.K. chip designer that listed on Wall Street in 2023 and shares the same parent company, Japan's SoftBank Group.