Earnings fluctuations due to volatility in domestic and overseas financial markets
First written in FY2016. 26 of 36 entries say "Materialised", first in FY2017-Q1. Latest entry: 2026-07-30.
Toyo Securities moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 12 of 20 companies on the "Worse" side.
1 other company's latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「During the consolidated fiscal year, the Group's operating results increased significantly, with operating revenue of ¥13,576 million, up 20.2% from the previous consolidated fiscal year, and ordinary income of ¥3,259 million, up 214.3%, as investment trust sales commissions, agency fees for investment trusts, domestic stock brokerage commissions, Chinese stock commissions and solution business-related revenue increased.」
Financial market fluctuations affected fee income from investment trusts, domestic stocks, Chinese stocks and other products, resulting in higher revenue and profit for the fiscal year. - 2026-04-28MaterialisedRevision of earnings forecasts
「In addition to fluctuations in market conditions, factors such as population decline, the aging of customers and increasingly diverse customer needs are requiring a review of the conventional sales model.」
The company continues to identify fluctuations in market conditions as a factor affecting earnings, which was reflected in the current period in higher operating revenue and ordinary income as markets recovered. - FY2026-H1MaterialisedAnnual report
「Under these circumstances, during the interim consolidated accounting period, the Group's operating results were as follows: operating revenue was ¥6,204 million, up 11.6% from the previous interim consolidated accounting period, and ordinary income was ¥1,045 million, up 138.9%, as investment trust sales commissions, domestic stock brokerage commissions and solution business-related revenue, recorded under other commissions received and financial income, increased. However, interim net income attributable to owners of the parent was ¥1,482 million, up 4.4%, because gains on sales of investment securities, recorded as extraordinary income, declined from the same period of the previous year.」
The structure in which market conditions affect fee income from investment trusts, domestic stocks and other products continued, and during the interim period this was reflected in higher operating revenue and ordinary income. - FY2025MaterialisedAnnual report
「Although agency fees for investment trusts, fees for handling U.S. stocks and financial income increased, brokerage commissions on Japanese stocks and investment trust sales commissions declined significantly.」
Fluctuations in domestic and overseas market conditions and trading activity were reflected in changes in fee income, with operating revenue down 6.1% from the previous fiscal year and ordinary income down 27.8%. - FY2024MaterialisedAnnual report
「Although there were periods when geopolitical risks, accelerating inflation, interest-rate hikes and other factors weakened investor sentiment, the Group's operating revenue and other measures increased from the previous consolidated fiscal year as brokerage commissions on stocks and investment trust sales commissions rose significantly amid market conditions that reached record highs, driven mainly by export-related stocks as U.S. share prices rose and the yen weakened, and technology stocks on expectations of growth in the generative AI market.」
Financial market fluctuations were reflected in the full-year results as higher stock brokerage commissions and investment trust sales commissions and improved operating revenue and other measures. - FY2024-Q3MaterialisedAnnual report
「Under these circumstances, during the first nine months of the fiscal year, the Group's fees from Japanese stocks, U.S. stocks and investment trusts increased as market conditions improved. As a result, operating revenue was ¥8,428 million, up 35.7% from the same period of the previous year, and ordinary income was ¥763 million, compared with ordinary loss of ¥1,198 million in the same period of the previous year.」
The structure in which financial market fluctuations affect performance was reflected in the results as higher fees resulting from improved market conditions and a return to profitability from ordinary loss in the same period of the previous year. - FY2024-Q2MaterialisedAnnual report
「Under these circumstances, during the first six months of the fiscal year, the Group's fees from Japanese stocks, U.S. stocks and investment trusts increased as market conditions improved.」
The structure in which financial market fluctuations affect performance was reflected in the results as higher fees from Japanese stocks, U.S. stocks and investment trusts resulting from improved market conditions. - FY2024-Q1MaterialisedAnnual report
「Under these circumstances, during the first quarter of the fiscal year, the Group's fees from Japanese stocks, U.S. stocks and investment trusts increased as market conditions improved.」
The structure in which financial market fluctuations affect performance was reflected in the results as higher fees resulting from improved market conditions. The risk of earnings volatility due to market fluctuations remains. - FY2023-Q3MaterialisedAnnual report
「As recession risks arising from geopolitical risks, accelerating inflation, interest-rate hikes and other factors weakened investor sentiment, fees from investment trusts and foreign securities declined. Operating revenue was ¥6,210 million, down 29.5% from the same quarter of the previous year; ordinary loss was ¥1,198 million, compared with ordinary income of ¥1,019 million in the same quarter of the previous year; and quarterly net loss attributable to owners of the parent was ¥1,234 million, compared with quarterly net income attributable to owners of the parent of ¥902 million in the same quarter of the previous year.」
The deterioration in the environment surrounding the financial markets and weaker investor sentiment were reflected in the first nine months' results as a 29.5% year-on-year decrease in operating revenue, ordinary loss of ¥1,198 million and quarterly net loss of ¥1,234 million. - FY2023-Q2MaterialisedAnnual report
「Under these circumstances, during the first six months of the fiscal year, recession risks arising from geopolitical risks, accelerating inflation, interest-rate hikes and other factors weakened investor sentiment, reducing fees from investment trusts and foreign securities. Operating revenue was ¥4,073 million, down 30.6% from the same period of the previous year; ordinary loss was ¥1,024 million, compared with ordinary income of ¥689 million in the same period of the previous year; and quarterly net loss attributable to owners of the parent was ¥1,060 million, compared with quarterly net income of ¥613 million in the same period of the previous year.」
The deterioration in the environment surrounding the financial markets was reflected in the results as weaker investor sentiment, lower fee income, lower revenue, ordinary loss and quarterly net loss. - FY2023-Q1MaterialisedAnnual report
「Under these circumstances, during the first quarter of the fiscal year, the Group's operating results deteriorated year on year as investor sentiment weakened due to the resurgence of COVID-19 infections, emerging geopolitical risks, accelerating inflation and other factors, reducing fees from investment trusts and foreign securities. Operating revenue was ¥1,968 million, down 33.2% from the same quarter of the previous year; ordinary loss was ¥522 million, compared with ordinary income of ¥387 million in the same quarter of the previous year; and quarterly net loss attributable to owners of the parent was ¥526 million, compared with quarterly net income attributable to owners of the parent of ¥361 million in the same quarter of the previous year.」
The deterioration in the environment surrounding the financial markets was reflected in the results as weaker investor sentiment, lower fee income, ordinary loss and quarterly net loss. - FY2022MaterialisedAnnual report
「From January onward, operating revenue was ¥10,863 million, down 9.2% from the previous consolidated fiscal year, and ordinary income was ¥579 million, down 48.7%, as revenue from foreign securities and investment trusts declined due to weaker investor sentiment following Russia's invasion of Ukraine and other factors.」
Fluctuations in financial markets and investor sentiment were reflected in the full-year results as lower revenue from foreign securities and investment trusts, resulting in lower revenue and profit. - FY2022-Q3RestatedAnnual report
「The Group's operating revenue is unstable because its core business is the financial instruments business and is therefore significantly affected by fluctuations in domestic and overseas financial instrument markets.」
The Group continues to recognize that operating revenue becomes unstable due to fluctuations in domestic and overseas financial markets. - FY2022-Q2RestatedAnnual report
「The Group's operating revenue is unstable because its core business is the financial instruments business and is therefore significantly affected by fluctuations in domestic and overseas financial instrument markets.」
The Group continues to recognize that operating revenue becomes unstable due to fluctuations in domestic and overseas financial markets. - FY2021-Q3RestatedAnnual report
「The Group's operating revenue is unstable because its core business is the financial instruments business and is therefore significantly affected by fluctuations in domestic and overseas financial instrument markets.」
The Group continues to recognize that operating revenue becomes unstable due to fluctuations in domestic and overseas financial markets. - FY2021-Q2RestatedAnnual report
「The Group's operating revenue is unstable because its core business is the financial instruments business and is therefore significantly affected by fluctuations in domestic and overseas financial instrument markets.」
The Group continues to recognize that operating revenue becomes unstable due to fluctuations in domestic and overseas financial markets. In the cumulative results for the quarter, operating revenue and profit exceeded the same period of the previous year against a backdrop of market recovery and other factors. - FY2021-Q1MaterialisedAnnual report
「Under these circumstances, during the first quarter of the fiscal year, although commissions on brokerage transactions increased, operating revenue was ¥2,309 million, or 92.3% of the same quarter of the previous year, because investment trust sales commissions and other revenue declined as the Group refrained from activities such as face-to-face sales due to the spread of COVID-19. As selling, general and administrative expenses were ¥2,621 million, or 93.2% of the same quarter of the previous year, operating loss was ¥342 million, compared with operating loss of ¥333 million in the same quarter of the previous year. In addition, ordinary loss was ¥151 million, compared with ordinary loss of ¥98 million in the same quarter of the previous year, due mainly to a decrease in dividends on investment securities, and quarterly net loss attributable to owners of the parent was ¥146 million, compared with quarterly net income attributable to owners of the parent of ¥14 million in the same quarter of the previous year, due mainly to a decrease in gains on sales of investment securities.」
The effects of market conditions and the suspension of sales activities due to the spread of COVID-19 were reflected in the results as lower investment trust sales commissions, lower operating revenue, ordinary loss and net loss. - FY2020WorsenedAnnual report
「The Group's operating revenue has fluctuated by as much as ¥6 billion, or approximately 38%, over the past 5 years.」
The risk of earnings volatility caused by financial market fluctuations was quantified as a maximum of ¥6 billion, or approximately 38%, over the past 5 years. Deteriorating market conditions resulting from the spread of COVID-19 were also cited as an additional concern. - FY2020-Q3MaterialisedAnnual report
「Under these circumstances, although results for the third quarter of the fiscal year, from October to December 2019, improved as system migration-related expenses and transaction-related expenses declined and investment trust sales commissions increased, investor sentiment did not improve as much as market conditions, and fees from Japanese, Chinese and U.S. stocks remained sluggish. Consequently, during the first nine months of the fiscal year, operating revenue was ¥7,144 million, or 85.1% of the same period of the previous year; ordinary loss was ¥867 million, compared with ordinary loss of ¥392 million in the same period of the previous year; and quarterly net loss attributable to owners of the parent was ¥574 million, compared with quarterly net loss attributable to owners of the parent of ¥2,106 million in the same period of the previous year.」
The effects of market conditions and investor sentiment continued to be reflected in the results as sluggish stock commissions, lower operating revenue and ordinary loss. - FY2020-Q2MaterialisedAnnual report
「Under these circumstances, during the first six months of the fiscal year, the Group's operating results were as follows: operating revenue was ¥4,586 million, or 74.0% of the same period of the previous year, and ordinary loss was ¥710 million, compared with ordinary income of ¥167 million in the same period of the previous year, due mainly to lower trading volumes in Japanese, U.S. and Chinese stocks. Quarterly net loss attributable to owners of the parent was ¥608 million, compared with quarterly net loss attributable to owners of the parent of ¥516 million in the same period of the previous year.」
The decrease in domestic and overseas stock trading volumes was reflected in the first-half cumulative results as lower operating revenue, ordinary loss and quarterly net loss. - FY2020-Q1MaterialisedAnnual report
「Under these circumstances, during the first quarter of the fiscal year, the Group's operating results were as follows: operating revenue was ¥2,502 million, or 76.7% of the same quarter of the previous year, and ordinary loss was ¥98 million, compared with ordinary income of ¥280 million in the same quarter of the previous year, due mainly to lower trading volumes in Japanese, U.S. and Chinese stocks. Quarterly net income attributable to owners of the parent was ¥14 million, or 14.3% of the same quarter of the previous year.」
The decrease in domestic and overseas stock trading volumes was reflected in the quarterly results as lower operating revenue and ordinary loss. - FY2019MaterialisedAnnual report
「During the consolidated fiscal year, the Group's operating results were as follows: operating revenue was ¥10,513 million, or 66.6% of the previous consolidated fiscal year, due mainly to lower trading volumes in Japanese, U.S. and Chinese stocks, and ordinary loss was ¥1,152 million, compared with ordinary income of ¥3,025 million in the previous consolidated fiscal year.」
The decrease in domestic and overseas stock trading volumes was reflected in the full-year results as lower operating revenue and ordinary loss. - FY2019-Q3MaterialisedAnnual report
「Under these circumstances, during the first nine months of the fiscal year, the Group's operating results were as follows: operating revenue was ¥8,393 million, or 69.1% of the same period of the previous year, and ordinary loss was ¥392 million, compared with ordinary income of ¥2,729 million in the same period of the previous year, due mainly to lower trading volumes in Japanese, U.S. and Chinese stocks. Because a one-time expense of ¥725 million related to the migration of the core system and other items was recorded as an extraordinary loss, quarterly net loss attributable to owners of the parent was ¥2,106 million, compared with quarterly net income attributable to owners of the parent of ¥1,512 million in the same period of the previous year.」
Lower domestic and overseas stock trading volumes and other factors reduced operating revenue, resulting in ordinary loss and quarterly net loss attributable to owners of the parent. - FY2019-Q2MaterialisedAnnual report
「Under these circumstances, during the first six months of the fiscal year, the Group's operating results were as follows: operating revenue was ¥6,193 million, or 78.9% of the same period of the previous year; ordinary income was ¥167 million, or 10.2% of the same period of the previous year; and quarterly net loss attributable to owners of the parent was ¥516 million, compared with quarterly net income attributable to owners of the parent of ¥821 million in the same period of the previous year, due mainly to lower trading volumes in Japanese, U.S. and Chinese stocks.」
The decrease in domestic and overseas stock trading volumes was reflected in the results as lower operating revenue and ordinary income and quarterly net loss. - FY2019-Q1MaterialisedAnnual report
「Under these circumstances, during the first quarter of the fiscal year, the Group's operating results were as follows: operating revenue was ¥3,261 million, or 80.5% of the same quarter of the previous year; ordinary income was ¥280 million, or 27.9% of the same quarter of the previous year; and quarterly net income attributable to owners of the parent was ¥101 million, or 16.0% of the same quarter of the previous year, due mainly to lower trading volumes in Japanese, U.S. and Chinese stocks.」
Fluctuations in domestic and overseas financial markets and trading conditions were reflected in the results as lower trading volumes and year-on-year decreases in operating revenue and profit. - FY2018RestatedAnnual report
「As the Group's core business is the financial instruments business, operating revenue is significantly affected by fluctuations in domestic and overseas financial instrument markets. Accordingly, the Group's financial position and operating results may fluctuate significantly depending on conditions in the financial instrument markets.」
The Group continues to recognize the risk that fluctuations in financial markets may cause significant changes in its financial position and operating results. - FY2018-Q3RestatedAnnual report
「The Group's operating revenue is unstable because its core business is the financial instruments business and is therefore significantly affected by fluctuations in domestic and overseas financial instrument markets.」
The Group continues to recognize that operating revenue becomes unstable due to fluctuations in domestic and overseas financial markets. - FY2018-Q2RestatedAnnual report
「The Group's operating revenue is unstable because its core business is the financial instruments business and is therefore significantly affected by fluctuations in domestic and overseas financial instrument markets.」
The Group continues to recognize that operating revenue becomes unstable due to fluctuations in domestic and overseas financial markets. - FY2018-Q1RestatedAnnual report
「The Group's operating revenue is unstable because its core business is the financial instruments business and is therefore significantly affected by fluctuations in domestic and overseas financial instrument markets.」
The Group continues to recognize that operating revenue is unstable because performance is affected by fluctuations in domestic and overseas financial markets. - FY2017MaterialisedAnnual report
「Although the Group's performance began to recover from October, mainly in trading of U.S. stocks, operating revenue was ¥12,776 million, or 94.3% of the previous consolidated fiscal year, due to a decrease in commissions received resulting from deteriorating market conditions through September and other factors; ordinary income was ¥982 million, or 53.7% of the previous consolidated fiscal year; and net income attributable to owners of the parent was ¥656 million, or 41.4% of the previous consolidated fiscal year.」
The impact of deteriorating market conditions was evident for the full fiscal year, with operating revenue, ordinary income and net income attributable to owners of the parent below the previous fiscal year's levels. - FY2017-Q3MaterialisedAnnual report
「Under these circumstances, during the first nine months of the fiscal year, the Group's operating results were as follows: although performance began to recover from October, mainly in trading of U.S. stocks, operating revenue was ¥8,897 million, or 79.4% of the same period of the previous year, due to a decrease in commissions received resulting from deteriorating market conditions through September and other factors; ordinary income was ¥172 million, or 6.6% of the same period of the previous year; and quarterly net loss attributable to owners of the parent was ¥164 million, compared with quarterly net income attributable to owners of the parent of ¥2,148 million in the same period of the previous year.」
Although performance began to recover from October, the cumulative results still reflected the impact of deteriorating market conditions in the form of lower commissions received, ordinary income of ¥172 million and quarterly net loss attributable to owners of the parent of ¥164 million. - FY2017-Q2MaterialisedAnnual report
「Under these circumstances, during the first six months of the fiscal year, the Group's operating results were as follows: operating revenue was ¥4,962 million, or 61.4% of the same period of the previous year, due to a decrease in commissions received resulting from deteriorating market conditions and other factors; ordinary loss was ¥722 million, compared with ordinary income of ¥2,218 million in the same period of the previous year; and quarterly net loss attributable to owners of the parent was ¥1,025 million, compared with quarterly net income attributable to owners of the parent of ¥1,877 million in the same period of the previous year.」
Deteriorating market conditions were reflected in the first-half results as a decrease in commissions received, ordinary loss of ¥722 million and quarterly net loss of ¥1,025 million. - FY2017-Q1MaterialisedAnnual report
「Under these circumstances, during the first quarter of the fiscal year, the Group's operating results were as follows: operating revenue was ¥2,540 million, or 56.3% of the same quarter of the previous year, due mainly to a decrease in commissions received resulting from deteriorating market conditions; ordinary loss was ¥221 million, compared with ordinary income of ¥1,623 million in the same quarter of the previous year; and quarterly net loss attributable to owners of the parent was ¥250 million, compared with quarterly net income attributable to owners of the parent of ¥1,167 million in the same quarter of the previous year.」
Deteriorating market conditions were reflected in the results as a decrease in commissions received, ordinary loss of ¥221 million and quarterly net loss of ¥250 million. - FY2016First statedAnnual report
「As the Group's core business is the financial instruments business, operating revenue is significantly affected by fluctuations in domestic and overseas financial instrument markets. Accordingly, the Group's financial position and operating results may fluctuate significantly depending on conditions in the financial instrument markets.」
Against a backdrop of the slowdown in the Chinese economy, lower crude oil prices and a stronger yen, operating revenue was 89.4% of the previous fiscal year's level and ordinary income was 52.4% of the previous fiscal year's level, demonstrating the impact of market fluctuations on performance.