Worth reading
39Recurring
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
3621
Hundreds of millions of yenWording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFull year and fourth quarter of the fiscal year ending March 20264 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥21,677 100 million +15.0%total revenues after deducting financial expenses
Ordinary income¥5,398 100 million +14.0%profit before tax, US GAAP
Net income3,621 Hundreds of millions of yen+6.0%
Results for the three months of the current quarter
Total income¥577.2 billion (after deducting financial expenses, +5% quarter on quarter, +27% year on year)
Profit before tax¥107.7 billion (-20% quarter on quarter, +10% year on year)
Net income for the current fiscal year¥73.9 billion (-19% quarter on quarter, +3% year on year)
EPS¥24.34 (-19% quarter on quarter)
ROE8.0% (10.3% in the previous quarter)
What the company explained in this material
New initiatives
- Preparations for and expansion of the business platform ahead of the planned introduction of deposit sweeps in the fiscal year ending March 2027
- Pursuit of new growth opportunities and business expansion
- Strengthening the organizational foundation
Key KPIsA metric the company considers important as a management benchmark.
- EPS¥118.99Year on year against the same period last year+7%
- ROE10.1 %Year on year against the same period last yearPrior period 10.0%
- Recurring revenue expense coverage ratio72 %
- Assets under management¥136.9 trillionYear on year against the same period last yearIncreased by more than 50% year on year
Segment results
Wealth Management
Total income¥487.9 billion (+13% year on year)
Profit before tax¥204.0 billion (+23% year on year)
Investment Management
Total income¥258.5 billion (+34% year on year)
Profit before tax¥88.3 billion (-1% year on year)
Wholesale segment
Total income¥1.1622 trillion (+10% year on year)
Profit before tax¥200.6 billion (+21% year on year)
Banking
Total income¥53.9 billion (+14% year on year)
Profit before tax¥14.0 billion (-14% year on year)
Annual Dividend
Annual dividend per share¥51
Interim and Year-End BreakdownYear-end dividend of ¥24 (payment commencement date: 1 June 2026); interim dividend: Not disclosed
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Full year and fourth quarter of the fiscal year ending March 2026 |
| Net Sales | ¥21,677 100 million (total revenues after deducting financial expenses) (YoY +15.0%) |
| Ordinary income | ¥5,398 100 million (profit before tax, US GAAP) (YoY +14.0%) |
| Net income | 3,621 Hundreds of millions of yen (YoY +6.0%) |
| Results for the three months of the current quarter | Total income ¥577.2 billion (after deducting financial expenses, +5% quarter on quarter, +27% year on year) / Profit before tax ¥107.7 billion (-20% quarter on quarter, +10% year on year) / Net income for the current fiscal year ¥73.9 billion (-19% quarter on quarter, +3% year on year) / EPS ¥24.34 (-19% quarter on quarter) / ROE 8.0% (10.3% in the previous quarter) |
| Segment results | Wealth Management Total income ¥487.9 billion (+13% year on year) / Profit before tax ¥204.0 billion (+23% year on year) / Investment Management Total income ¥258.5 billion (+34% year on year) / Profit before tax ¥88.3 billion (-1% year on year) / Wholesale segment Total income ¥1.1622 trillion (+10% year on year) / Profit before tax ¥200.6 billion (+21% year on year) / Banking Total income ¥53.9 billion (+14% year on year) / Profit before tax ¥14.0 billion (-14% year on year) |
| Key KPIs | Indicator name EPS / Value ¥118.99 / Year on year against the same period last year +7%, Indicator name ROE / Value 10.1 % / Year on year against the same period last year Prior period 10.0%, Indicator name Recurring revenue expense coverage ratio / Value 72 % / Year on year against the same period last year Not disclosed, Indicator name Assets under management / Value ¥136.9 trillion / Year on year against the same period last year Increased by more than 50% year on year |
| Annual Dividend | Annual dividend per share ¥51 / Interim and Year-End Breakdown Year-end dividend of ¥24 (payment commencement date: 1 June 2026); interim dividend: Not disclosed |
| New initiatives | Preparations for and expansion of the business platform ahead of the planned introduction of deposit sweeps in the fiscal year ending March 2027, Pursuit of new growth opportunities and business expansion, Strengthening the organizational foundation |
Items this document does not state (21)
Operating profitGross Profit MarginOperating profit marginSelling, general and administrative expensesFull-year earnings forecastProgress against full-year forecastSelf-assessment against the planBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsPayout 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.The company cited the business model transformation it has pursued to date, the expansion of recurring revenues in Wealth Management, strong profitability in Wholesale, and contributions from market factors, net inflows and acquired overseas businesses in Investment Management, as well as growth in Banking’s loan balance and assets under custody in investment trusts. For the fourth quarter, it cited lower earnings contributions from affiliates, impairment losses on equity interests in investee companies, and upfront investment in Banking.
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