Worth reading
42Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
42
Year-on-year change in net operating revenue (%)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFY2026 First Quarter5 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales434,364 Millions of yen +33.1%operating revenue
Operating profit77,512 million yen+114.3%
Ordinary income88,089 million yen+101.5%
Net income56,414 JPY millions +80.6%net income attributable to owners of the parent
Selling, general and administrative expenses142,887 million yen
Results for the three months of the current quarterOperating revenue ¥434,364 million, net operating revenue ¥220,399 million, operating income ¥77,512 million, ordinary income ¥88,089 million, and net income attributable to owners of the parent ¥56,414 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Commissions received¥143,423 million (+9.3% quarter on quarter)
- Trading gains and losses¥33,213 million (+4.1% quarter on quarter)
- Gains and losses related to operating investment securities¥4,107 million (compared with -¥2,915 million in the previous quarter)
- Other operating revenue¥78,031 million (+42.9% quarter on quarter)
- Transaction-related expenses¥28,866 million (+11.3% quarter on quarter)
- Personnel expenses¥71,610 million (+2.8% quarter on quarter)
New initiatives
- Completed the acquisition of all shares of Orix Bank Corporation and its conversion into a consolidated subsidiary; consolidation of its results will begin in the second quarter
Key KPIsA metric the company considers important as a management benchmark.
- ROE (annualized)12.7 %
- Balance-based revenue¥358 100 millionYear on year against the same period last yearNew record high
- WM segment fixed-cost coverage ratio125.7 %Year on year against the same period last yearHigher
- WM segment total expense coverage ratio77.3 %Year on year against the same period last yearHigher
- Daiwa Asset Management assets under management¥50,479 billion
- Total deposits¥5,308 billionYear on year against the same period last yearIncreased
- Publicly offered investment trust assets under management¥43,970 billionYear on year against the same period last yearRecord high
Segment results
- WM segmentNet operating revenue¥88,230 million (+40.3% year on year)Ordinary income¥37,274 million (+88.9% year on year)
- AM segmentNet operating revenue¥40,928 million (+45.1% year on year)Ordinary income¥30,362 million (+105.5% year on year)
- GM&IB segmentNet operating revenue¥76,512 million (+53.6% year on year)Ordinary income¥22,710 million (+354.0% year on year)
- Other and adjustmentsNet operating revenue¥14,727 millionOrdinary income-¥2,257 million
Medium-term management plan targets
- TargetBase profit of ¥150 billionTarget fiscal yearFinal year of the medium-term management plan (year not specified)Comparison with actual resultsBase profit of ¥62.8 billion in the first quarter of FY2026, putting the company well ahead of the pace required to achieve the target
- TargetReal estate AM AUM of ¥1.8 trillionTarget fiscal yearFY2030Comparison with actual resultsAchieved ahead of schedule
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | FY2026 First Quarter |
| Net Sales | 434,364 Millions of yen (operating revenue) (YoY +33.1%) |
| Operating profit | 77,512 million yen (YoY +114.3%) |
| Ordinary income | 88,089 million yen (YoY +101.5%) |
| Net income | 56,414 JPY millions (net income attributable to owners of the parent) (YoY +80.6%) |
| Selling, general and administrative expenses | 142,887 million yen |
| Results for the three months of the current quarter | Operating revenue ¥434,364 million, net operating revenue ¥220,399 million, operating income ¥77,512 million, ordinary income ¥88,089 million, and net income attributable to owners of the parent ¥56,414 million |
| Segment results | Segment WM segment / Net operating revenue ¥88,230 million (+40.3% year on year) / Ordinary income ¥37,274 million (+88.9% year on year), Segment AM segment / Net operating revenue ¥40,928 million (+45.1% year on year) / Ordinary income ¥30,362 million (+105.5% year on year), Segment GM&IB segment / Net operating revenue ¥76,512 million (+53.6% year on year) / Ordinary income ¥22,710 million (+354.0% year on year), Segment Other and adjustments / Net operating revenue ¥14,727 million / Ordinary income -¥2,257 million |
| Breakdown of Factors Affecting the Change | Factors Commissions received / Amount ¥143,423 million (+9.3% quarter on quarter), Factors Trading gains and losses / Amount ¥33,213 million (+4.1% quarter on quarter), Factors Gains and losses related to operating investment securities / Amount ¥4,107 million (compared with -¥2,915 million in the previous quarter), Factors Other operating revenue / Amount ¥78,031 million (+42.9% quarter on quarter), Factors Transaction-related expenses / Amount ¥28,866 million (+11.3% quarter on quarter), Factors Personnel expenses / Amount ¥71,610 million (+2.8% quarter on quarter) |
| Key KPIs | Indicator name ROE (annualized) / Value 12.7 % / Year on year against the same period last year Not disclosed, Indicator name Balance-based revenue / Value ¥358 100 million / Year on year against the same period last year New record high, Indicator name WM segment fixed-cost coverage ratio / Value 125.7 % / Year on year against the same period last year Higher, Indicator name WM segment total expense coverage ratio / Value 77.3 % / Year on year against the same period last year Higher, Indicator name Daiwa Asset Management assets under management / Value ¥50,479 billion / Year on year against the same period last year Not disclosed, Indicator name Total deposits / Value ¥5,308 billion / Year on year against the same period last year Increased, Indicator name Publicly offered investment trust assets under management / Value ¥43,970 billion / Year on year against the same period last year Record high |
| Medium-term management plan targets | Target Base profit of ¥150 billion / Target fiscal year Final year of the medium-term management plan (year not specified) / Comparison with actual results Base profit of ¥62.8 billion in the first quarter of FY2026, putting the company well ahead of the pace required to achieve the target, Target Real estate AM AUM of ¥1.8 trillion / Target fiscal year FY2030 / Comparison with actual results Achieved ahead of schedule |
| New initiatives | Completed the acquisition of all shares of Orix Bank Corporation and its conversion into a consolidated subsidiary; consolidation of its results will begin in the second quarter |
Items this document does not state (18)
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 OutlookRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey 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.Revenue and profit growth was attributed to capturing increased activity by companies and investors and customer flows, favorable market conditions, continued asset inflows, multiple large-scale transactions, and growth in assets under management. Selling, general and administrative expenses increased due to higher commissions paid, salaries resulting from wage increases, and higher domestic performance-linked bonuses.
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