Komori
Earnings presentation7177GMO Financial Holdings,Inc.Financials (excluding banks)

Presentation materials for the third quarter of the fiscal year ended December 2025

営業収益は店頭FX・CFDの減収などで前年同期比5.0%減となった一方、販管費の減少や暗号資産事業の寄与、前年同期の貸倒引当金計上の反動により、営業利益・経常利益・最終利益はいずれも大幅に増加し、9カ月累計で過去最高を更新した。

Worth reading
89Important
Scored from 4 of 6 sections
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
57.7
Year-on-year change in operating income (%)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationThird quarter of the fiscal year ended December 20258 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥38,413 million-5.0%
Operating profit¥13,691 million+57.7%
Ordinary income¥12,855 million+61.1%
Net income¥8,910 million+153.9%
Selling, general and administrative expenses¥6,606 million
Results for the three months of the current quarter
Operating revenue
¥11,519 million
Net operating revenue
¥10,520 million
Operating profit
¥3,914 million
Ordinary income
¥3,800 million
Net income
¥2,698 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Equity and financial income and expenses
    Year-on-year change▲5.1億円
  • FX・外為OP・CFD・株BO
    Year-on-year change▲12.3億円
  • Crypto Assets
    Year-on-year change+¥790 million
  • Other, adjustments, etc.
    Year-on-year change+¥350 million
  • Transaction-related expenses
    Year-on-year change▲3.5億円
  • Personnel expenses
    Year-on-year change▲2.4億円
  • Provision for allowance for doubtful accounts
    Year-on-year change+69.0億円
  • Other costs
    Year-on-year change+¥510 million
New initiatives
  • 株式取引手数料・投信販売手数料の無料化
  • ログイン追加認証の必須化と、2026年12月期第1四半期を目処としたFIDO2への変更
  • CFDの手数料ゼロおよび設立20周年記念キャンペーン
  • 投信積立への毎週・毎日コース追加とブル型・ベア型ファンドの拡充
  • バーチャルオフィスの上野オフィス提供開始
  • バーチャルオフィスのレンタルスペース予約サービス開始
Key KPIsA metric the company considers important as a management benchmark.
  • Domestic over-the-counter FX trading volume share21.5 %
  • 店頭FX QAUシェア15 Approximately %
  • FX預り証拠金残高9.2 %増前年同期末比
    Year on year against the same period last year+9.2%
  • CFD trading value-9.3 % year-on-year
    Year on year against the same period last year-9.3%
  • CFD revenue-24.7 % year-on-year
    Year on year against the same period last year-24.7%
  • Equity trading value2.5 % increase year on year
    Year on year against the same period last year+2.5%
  • Equity trading value share1.4 %
  • Crypto-asset trading value6.1 % increase year on year
    Year on year against the same period last year+6.1%
  • Number of cryptocurrency accounts10.1 万口座増前年同期末比
  • Customer assets under custody111.2 %増前年同期末比
    Year on year against the same period last year+111.2%
  • Staking revenue107.7 % increase year on year
    Year on year against the same period last year+107.7%
  • バーチャルオフィス累計ユーザー30,000 users
Segment results
  • Securities and FX business
    Period2025年12月期第3四半期累計
    Year-on-year change in operating revenue-10.2
    Year-on-year operating profit growth70.4
  • Cryptocurrency Business
    Period2025年12月期第3四半期累計
    Year-on-year change in operating revenue16.8
    Year-on-year operating profit growth18.1
  • Securities and FX business
    Period2025年7-9月
    Operating revenue¥8,810 million
    Operating profit¥3,122 million
  • Cryptocurrency Business
    Period2025年7-9月
    Operating revenue¥2,044 million
    Operating profit¥1,074 million
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Maximum risk amount
¥7,214 million
Details約定弁済契約債権残高から貸倒引当金を控除し、その他不良債権の担保額を加味した最大リスク額
Market Size / Share
  • Domestic over-the-counter FX trading volume share21.5 %
  • 店頭FX QAUシェア15 Approximately %
  • Equity trading value share1.4 %
Annual Dividend
Q1-Q3合計
¥49.1 per share
Q3実績
¥14.87 per share
Q4予想未定
Payout ratio
Consolidated dividend payout ratio target65 % or higher
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredThird quarter of the fiscal year ended December 2025
Net Sales¥38,413 million (YoY -5.0%)
Operating profit¥13,691 million (YoY +57.7%)
Ordinary income¥12,855 million (YoY +61.1%)
Net income¥8,910 million (YoY +153.9%)
Selling, general and administrative expenses¥6,606 million
Results for the three months of the current quarterOperating revenue ¥11,519 million / Net operating revenue ¥10,520 million / Operating profit ¥3,914 million / Ordinary income ¥3,800 million / Net income ¥2,698 million
Segment resultsSegment Securities and FX business / Period 2025年12月期第3四半期累計 / Year-on-year change in operating revenue -10.2 / Year-on-year operating profit growth 70.4, Segment Cryptocurrency Business / Period 2025年12月期第3四半期累計 / Year-on-year change in operating revenue 16.8 / Year-on-year operating profit growth 18.1, Segment Securities and FX business / Period 2025年7-9月 / Operating revenue ¥8,810 million / Operating profit ¥3,122 million, Segment Cryptocurrency Business / Period 2025年7-9月 / Operating revenue ¥2,044 million / Operating profit ¥1,074 million
Breakdown of Factors Affecting the ChangeFactors Equity and financial income and expenses / Year-on-year change ▲5.1億円, Factors FX・外為OP・CFD・株BO / Year-on-year change ▲12.3億円, Factors Crypto Assets / Year-on-year change +¥790 million, Factors Other, adjustments, etc. / Year-on-year change +¥350 million, Factors Transaction-related expenses / Year-on-year change ▲3.5億円, Factors Personnel expenses / Year-on-year change ▲2.4億円, Factors Provision for allowance for doubtful accounts / Year-on-year change +69.0億円, Factors Other costs / Year-on-year change +¥510 million
Key KPIsIndicator Domestic over-the-counter FX trading volume share / Value 21.5 % / Year on year against the same period last year Not disclosed, Indicator 店頭FX QAUシェア / Value 15 Approximately % / Year on year against the same period last year Not disclosed, Indicator FX預り証拠金残高 / Value 9.2 %増（前年同期末比） / Year on year against the same period last year 9.2 %増（前年同期末比）, Indicator CFD trading value / Value -9.3 % (year-on-year) / Year on year against the same period last year -9.3 % (year-on-year), Indicator CFD revenue / Value -24.7 % (year-on-year) / Year on year against the same period last year -24.7 % (year-on-year), Indicator Equity trading value / Value 2.5 % increase (year on year) / Year on year against the same period last year 2.5 % increase (year on year), Indicator Equity trading value share / Value 1.4 % / Year on year against the same period last year Not disclosed, Indicator Crypto-asset trading value / Value 6.1 % increase (year on year) / Year on year against the same period last year 6.1 % increase (year on year), Indicator Number of cryptocurrency accounts / Value 10.1 万口座増（前年同期末比） / Year on year against the same period last year Not disclosed, Indicator Customer assets under custody / Value 111.2 %増（前年同期末比） / Year on year against the same period last year 111.2 %増（前年同期末比）, Indicator Staking revenue / Value 107.7 % increase (year on year) / Year on year against the same period last year 107.7 % increase (year on year), Indicator バーチャルオフィス累計ユーザー / Value 30,000 users / Year on year against the same period last year Not disclosed
Risk amount incorporated into the outlookMaximum risk amount ¥7,214 million / Details 約定弁済契約債権残高から貸倒引当金を控除し、その他不良債権の担保額を加味した最大リスク額
Annual DividendValue Not disclosed / Q1-Q3合計 ¥49.1 per share / Q3実績 ¥14.87 per share / Q4 予想未定
Payout ratio65 % or higher
Market Size / ShareIndicator Domestic over-the-counter FX trading volume share / Value 21.5 %, Indicator 店頭FX QAUシェア / Value 15 Approximately %, Indicator Equity trading value share / Value 1.4 %
New initiatives株式取引手数料・投信販売手数料の無料化, ログイン追加認証の必須化と、2026年12月期第1四半期を目処としたFIDO2への変更, CFDの手数料ゼロおよび設立20周年記念キャンペーン, 投信積立への毎週・毎日コース追加とブル型・ベア型ファンドの拡充, バーチャルオフィスの上野オフィス提供開始, バーチャルオフィスのレンタルスペース予約サービス開始
Items this document does not state (15)
Gross Profit MarginOperating profit marginFull-year earnings forecastProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookMedium-term management plan targetsFinancial targetsAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

店頭FXのボラティリティ低下による減収、CFD収益の減少があった一方、販管費の減少、暗号資産事業の寄与、前年同期にタイ証券事業等に係る貸倒引当金繰入額約67億円を計上した反動により増益となった。

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Presentation materials for the third quarter of the fiscal year ended December 2025 | GMO Financial Holdings,Inc. (7177) timely disclosure | Komori