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

Materials for the Third-Quarter Financial Results Briefing for the Fiscal Year Ending December 2026

For the nine months ended the third quarter of the fiscal year ending December 2026, strong CFD revenue and financial revenue drove operating revenue, operating profit and net income above the same period of the previous year, resulting in record-high performance. Meanwhile, the cryptocurrency business saw lower revenue and profit, and the collection plan for receivables at the Thai securities company also became difficult to achieve. The dividend forecast was revised upward.

Worth reading
59In focus
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Direction
Mixed performance
Direction inferred from the company’s description.
Scale
6094
Millions of yen (year-on-year increase in operating revenue)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationQ3 FY20268 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥44,507 million+15.9%
Operating profit¥16,065 million+17.3%
Ordinary income¥15,990 million+24.4%
Net income¥10,531 million+18.2%
Operating profit margin36.1
Selling, general and administrative expenses¥24,612 million
Results for the three months of the current quarter
Operating revenue
¥14,963 million
Operating profit
¥5,714 million
Operating profit margin
38.2 %
Ordinary income
¥5,729 million
Net profit
¥4,006 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+¥90 million
  • FX and foreign exchange binary options+¥1.22 billion
  • CFDs and stock binary options+¥8.21 billion
  • Crypto-assets-¥2.43 billion
  • Other, adjustments, etc.-¥30 million
  • Transaction-related expenses-¥520 million
  • Personnel expenses-¥970 million
  • Office expenses-¥730 million
  • Provision for allowance for doubtful accounts-¥30 million
  • Other costs-¥480 million
New initiatives
  • Introduced a 10% DOE lower-limit benchmark and a dividend payout ratio of 65% or more
  • Added 3 yen-denominated precious-metal instruments to commodity CFDs
  • Launched a “crypto assets as collateral” service that allows crypto assets to be used as margin
  • Started selling an original death benefit insurance product for small-amount, short-term insurance
  • Narrowed spreads in FX and foreign-exchange services and enhanced swap points for crypto assets
Key KPIsA metric the company considers important as a management benchmark.
  • Domestic over-the-counter FX trading volume share21.4 %
  • Share of over-the-counter FX traders by number of accounts (QAU)Over 15%
  • CFD trading value¥4.31 1 trillion
    Year-on-year (%)24.8
  • CFD revenue¥4,312 million
    Year-on-year (%)112.4
  • Equity trading value share1.4 %
  • Cryptocurrency trading value share21.1 %
  • Number of cryptocurrency accountsApproximately 63,000 accounts added
Segment results
  • Securities and FX business
    Operating revenue_yoy_pct26.7
    Operating profit_yoy_pct41.9
  • Crypto Asset business
    Operating revenue_yoy_pct-44.1
    Operating profit_yoy_pct-75.3
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
¥6,160 million
DetailsThe maximum risk amount, calculated by deducting the allowance for doubtful accounts from the balance of receivables under settlement and repayment agreements at the Thai securities company and taking into account the collateral value of other non-performing receivables
Market Size / Share
  • Domestic over-the-counter FX trading volume share21.4 %
  • Share of over-the-counter FX traders by number of accounts (QAU)Over 15%
  • Domestic over-the-counter CFD trading volume shareNo. 1 for 12 consecutive years
Annual Dividend
Annual68.6 Yen per share
Breakdown
Third quarter20.23
Fourth-quarter forecast20.23
Payout ratio
65 %
DOE10
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredQ3 FY2026
Net Sales¥44,507 million (YoY +15.9%)
Operating profit¥16,065 million (YoY +17.3%)
Ordinary income¥15,990 million (YoY +24.4%)
Net income¥10,531 million (YoY +18.2%)
Operating profit margin36.1
Selling, general and administrative expenses¥24,612 million
Results for the three months of the current quarterOperating revenue ¥14,963 million / Operating profit ¥5,714 million / Operating profit margin 38.2 % / Ordinary income ¥5,729 million / Net profit ¥4,006 million
Segment resultsSegment Securities and FX business / Operating revenue_yoy_pct 26.7 / Operating profit_yoy_pct 41.9, Segment Crypto Asset business / Operating revenue_yoy_pct -44.1 / Operating profit_yoy_pct -75.3
Breakdown of Factors Affecting the ChangeFactors Equity and financial income and expenses / Amount +¥90 million, Factors FX and foreign exchange binary options / Amount +¥1.22 billion, Factors CFDs and stock binary options / Amount +¥8.21 billion, Factors Crypto-assets / Amount -¥2.43 billion, Factors Other, adjustments, etc. / Amount -¥30 million, Factors Transaction-related expenses / Amount -¥520 million, Factors Personnel expenses / Amount -¥970 million, Factors Office expenses / Amount -¥730 million, Factors Provision for allowance for doubtful accounts / Amount -¥30 million, Factors Other costs / Amount -¥480 million
Key KPIsIndicator name Domestic over-the-counter FX trading volume share / Value 21.4 % / Year on year against the same period last year Not disclosed, Indicator name Share of over-the-counter FX traders by number of accounts (QAU) / Value Over 15% / Year on year against the same period last year Not disclosed, Indicator name CFD trading value / Value ¥4.31 1 trillion / Year-on-year (%) ¥24.8 1 trillion, Indicator name CFD revenue / Value ¥4,312 million / Year-on-year (%) ¥112.4 million, Indicator name Equity trading value share / Value 1.4 % / Year on year against the same period last year Not disclosed, Indicator name Cryptocurrency trading value share / Value 21.1 % / Year on year against the same period last year Not disclosed, Indicator name Number of cryptocurrency accounts / Value Approximately 63,000 accounts added / Year on year against the same period last year Not disclosed
Risk amount incorporated into the outlookAmount ¥6,160 million / Details The maximum risk amount, calculated by deducting the allowance for doubtful accounts from the balance of receivables under settlement and repayment agreements at the Thai securities company and taking into account the collateral value of other non-performing receivables
Annual DividendAnnual 68.6 Yen per share / Breakdown Third quarter 20.23 / Fourth-quarter forecast 20.23
Payout ratio65 %
Market Size / ShareIndicator Domestic over-the-counter FX trading volume share / Value 21.4 %, Indicator Share of over-the-counter FX traders by number of accounts (QAU) / Value Over 15%, Indicator Domestic over-the-counter CFD trading volume share / Value No. 1 for 12 consecutive years
New initiativesIntroduced a 10% DOE lower-limit benchmark and a dividend payout ratio of 65% or more, Added 3 yen-denominated precious-metal instruments to commodity CFDs, Launched a “crypto assets as collateral” service that allows crypto assets to be used as margin, Started selling an original death benefit insurance product for small-amount, short-term insurance, Narrowed spreads in FX and foreign-exchange services and enhanced swap points for crypto assets
Items this document does not state (14)
Gross 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.

Strong CFD revenue and financial revenue offset lower revenue from the cryptocurrency business and higher costs. Over-the-counter FX profitability improved in the third quarter alone against a backdrop that included increased foreign-exchange market volatility, while financial revenue grew due in part to higher income from investing customer deposits as interest rates rose.

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