Worth reading
61In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
51
Hundreds of millions of yenWording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFY2025 financial results10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Ordinary income271 Hundreds of millions of yen
Net income257 Hundreds of millions of yen+25.0%
Selling, general and administrative expenses-669 Hundreds of millions of yen
Full-year earnings forecast
Fiscal 2026
Consolidated gross operating profit
1,110 Hundreds of millions of yen
Consolidated core net business profit
440 Hundreds of millions of yen
Ordinary income
370 Hundreds of millions of yen
Net income attributable to owners of the parent
270 Hundreds of millions of yen
Annual dividend per share
¥100
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Consolidated gross operating profit104%
Consolidated core net business profit101%
Ordinary income91%
Net income attributable to owners of the parent117%
Investment Banking Unit core net business profit145%
Markets and International Unit core net business profit37%
Customer Relations Unit core net business profit355%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Results were broadly in line with budget. The Investment Banking Unit exceeded plan, while the Markets and International Unit fell short of plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Investment Banking Unit108 Hundreds of millions of yen
Markets and International Unit-36 Hundreds of millions of yen
GMOあおぞらネット銀行23 Hundreds of millions of yen
Customer Relations Unit and others-14 Hundreds of millions of yen
Credit-related expenses-23 Hundreds of millions of yen
Loss of one-time gain from the liquidation of a subsidiary-15 Hundreds of millions of yen
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Bank of Japan policy rateTwo Bank of Japan policy rate hikes during fiscal 2026
Exchange rateUS$1=¥150
New initiatives
- Disposal of legacy securities assets with no maturity date
- Move US office loan exposures subject to workout measures into ordinary risk management from fiscal 2026
- Operate on the assumption that the Bank of Japan policy rate will be raised twice during fiscal 2026
Key KPIsA metric the company considers important as a management benchmark.
- Domestic loan balance¥3.1 trillionYear on year against the same period last year+9%
- Overseas loan balanceUS$13,206 millionYear on year against the same period last year+1%
- GMO Aozora Net Bank corporate accounts244,000 accountsYear on year against the same period last yearIncreased
- GMO Aozora Net Bank deposits¥1.3 trillion of display and video advertising expenditure that may not be viewed by usersYear on year against the same period last yearIncreased
- Retail investment trust and fund wrap assets under custody7,201 Hundreds of millions of yenYear on year against the same period last year+16%
- Domestic deposit-to-loan spread1.04%Year on year against the same period last year+0.12 percentage points
- Disclosed claims ratio1.21%Year on year against the same period last yearDown
Segment results
Investment Banking Unit
Fiscal 2024 core net business profit277 Hundreds of millions of yen
Fiscal 2025 core net business profit386 Hundreds of millions of yen
Change108 Hundreds of millions of yen
Markets and International Unit
Fiscal 2024 core net business profit75 Hundreds of millions of yen
Fiscal 2025 core net business profit39 Hundreds of millions of yen
Change-36 Hundreds of millions of yen
Customer Relations Unit
Fiscal 2024 core net business profit14 Hundreds of millions of yen
Fiscal 2025 core net business profit11 Hundreds of millions of yen
Change-3 Hundreds of millions of yen
GMOあおぞらネット銀行
Fiscal 2024 core net business profit-4 Hundreds of millions of yen
Fiscal 2025 core net business profit19 Hundreds of millions of yen
Change23 Hundreds of millions of yen
Total
Fiscal 2024 core net business profit271 Hundreds of millions of yen
Fiscal 2025 core net business profit352 Hundreds of millions of yen
Change81 Hundreds of millions of yen
Medium-term management plan targets
Assets under management
Plan as of March 2028¥5.5 trillion
Domestic loans and securities, total
Plan as of March 2028¥3.6 trillion
Overseas loans and securities, total
Plan as of March 2028¥1.9 trillion
Financial targets
ROE
FY2025 actual5.5%
Market Size / Share
Domestic syndicated loan transaction value league table4th
Annual Dividend
FY2025 actual¥91 per share
FY2026 forecast¥100/share
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | FY2025 financial results |
| Ordinary income | 271 Hundreds of millions of yen |
| Net income | 257 Hundreds of millions of yen (YoY +25.0%) |
| Selling, general and administrative expenses | -669 Hundreds of millions of yen |
| Full-year earnings forecast | Fiscal 2026 Consolidated gross operating profit 1,110 Hundreds of millions of yen / Consolidated core net business profit 440 Hundreds of millions of yen / Ordinary income 370 Hundreds of millions of yen / Net income attributable to owners of the parent 270 Hundreds of millions of yen / Annual dividend per share ¥100 |
| Progress against full-year forecast | Consolidated gross operating profit 104% / Consolidated core net business profit 101% / Ordinary income 91% / Net income attributable to owners of the parent 117% / Investment Banking Unit core net business profit 145% / Markets and International Unit core net business profit 37% / Customer Relations Unit core net business profit 355% |
| Self-assessment against the plan | Results were broadly in line with budget. The Investment Banking Unit exceeded plan, while the Markets and International Unit fell short of plan. |
| Segment results | Investment Banking Unit Fiscal 2024 core net business profit 277 Hundreds of millions of yen / Fiscal 2025 core net business profit 386 Hundreds of millions of yen / Change 108 Hundreds of millions of yen / Markets and International Unit Fiscal 2024 core net business profit 75 Hundreds of millions of yen / Fiscal 2025 core net business profit 39 Hundreds of millions of yen / Change -36 Hundreds of millions of yen / Customer Relations Unit Fiscal 2024 core net business profit 14 Hundreds of millions of yen / Fiscal 2025 core net business profit 11 Hundreds of millions of yen / Change -3 Hundreds of millions of yen / GMOあおぞらネット銀行 Fiscal 2024 core net business profit -4 Hundreds of millions of yen / Fiscal 2025 core net business profit 19 Hundreds of millions of yen / Change 23 Hundreds of millions of yen / Total Fiscal 2024 core net business profit 271 Hundreds of millions of yen / Fiscal 2025 core net business profit 352 Hundreds of millions of yen / Change 81 Hundreds of millions of yen |
| Breakdown of Factors Affecting the Change | Investment Banking Unit 108 Hundreds of millions of yen / Markets and International Unit -36 Hundreds of millions of yen / GMOあおぞらネット銀行 23 Hundreds of millions of yen / Customer Relations Unit and others -14 Hundreds of millions of yen / Credit-related expenses -23 Hundreds of millions of yen / Loss of one-time gain from the liquidation of a subsidiary -15 Hundreds of millions of yen |
| Key KPIs | Indicator name Domestic loan balance / Value ¥3.1 trillion / Year on year against the same period last year +9%, Indicator name Overseas loan balance / Value US$13,206 million / Year on year against the same period last year +1%, Indicator name GMO Aozora Net Bank corporate accounts / Value 244,000 accounts / Year on year against the same period last year Increased, Indicator name GMO Aozora Net Bank deposits / Value ¥1.3 trillion of display and video advertising expenditure that may not be viewed by users / Year on year against the same period last year Increased, Indicator name Retail investment trust and fund wrap assets under custody / Value 7,201 Hundreds of millions of yen / Year on year against the same period last year +16%, Indicator name Domestic deposit-to-loan spread / Value 1.04% / Year on year against the same period last year +0.12 percentage points, Indicator name Disclosed claims ratio / Value 1.21% / Year on year against the same period last year Down |
| Assumptions Underlying the Business Outlook | Bank of Japan policy rate Two Bank of Japan policy rate hikes during fiscal 2026 / Exchange rate US$1=¥150 |
| Medium-term management plan targets | Assets under management Plan as of March 2028 ¥5.5 trillion / Domestic loans and securities, total Plan as of March 2028 ¥3.6 trillion / Overseas loans and securities, total Plan as of March 2028 ¥1.9 trillion |
| Financial targets | ROE FY2025 actual 5.5% |
| Annual Dividend | FY2025 actual ¥91 per share / FY2026 forecast ¥100/share / Interim and Year-End Breakdown Not disclosed |
| Market Size / Share | Domestic syndicated loan transaction value league table 4th |
| New initiatives | Disposal of legacy securities assets with no maturity date, Move US office loan exposures subject to workout measures into ordinary risk management from fiscal 2026, Operate on the assumption that the Bank of Japan policy rate will be raised twice during fiscal 2026 |
Items this document does not state (14)
Net SalesOperating profitGross Profit MarginOperating profit marginResults for the three months of the current quarterUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookPayout ratioAcquisition 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.Higher domestic loan balances and a wider deposit-to-loan spread, fees related to LBO loans, capital gains on investment funds, referrals from Daiwa Securities Group, and fee income and net interest income at GMO Aozora Net Bank boosted results. Offsetting factors included lower overseas loan balances, tighter market credit spreads, and the disposal of legacy securities assets.
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