Intensifying Competition Driven by Online Brokerages and Entry by Companies from Other Industries and Fintech Ventures
First written in FY2020. 2 of 4 entries say "Restated". Latest entry: FY2024.
Mito Securities moved to the "Worse" side of this theme in 2024, 2 years after the typical company in this theme (2022).
The whole theme swung hardest in 2022: 3 of 10 companies on the "Worse" side.
2 other companies' latest entry also says "Worsened".
- FY2024WorsenedAnnual report
「As transaction costs decline further, including following announcements by major online brokerage firms that they would eliminate domestic equity commissions entirely, moves to shift from traditional commission-based businesses to fee structures based on assets under custody are accelerating.」
The elimination of domestic equity commissions by online brokerages and other factors have driven further declines in transaction costs and shifts in fee structures, and we described the changing competitive environment in greater detail. - FY2022RestatedAnnual report
「Transaction costs continue to decline, including through the elimination of commissions led by online brokerage firms, and moves are accelerating to shift from traditional commission-based businesses to fee structures based on assets under custody. In addition, the accelerating decline and aging of the population is expected to increase the importance of asset succession and acquiring customers from the next generation.」
We continued to identify competition with online brokerages and others, the shift from commission-based businesses to balance-linked fees, and the declining birthrate and aging population, together with the importance of asset succession and acquiring next-generation customers, as business-environment factors. - FY2021RestatedAnnual report
「In the securities industry, transaction costs have been declining, including through the elimination of commissions, led by online brokerage firms. New entrants from other industries, such as distribution, and fintech ventures have also emerged one after another.」
We continue to describe changes in the competitive environment involving online brokerages, companies from other industries, and fintech ventures. - FY2020First statedAnnual report
「In the securities industry, transaction costs have been declining, including through the elimination of commissions, led by online brokerage firms. New entrants from other industries, such as distribution, and fintech ventures have also emerged one after another.」
We identified the elimination of online brokerage commissions, entry by companies from other industries and fintech ventures, and changes in the investment environment resulting from the spread of smartphones as a new competitive environment surrounding our primarily face-to-face business model.