Risk of fluctuations in commission income due to weak equity and bond markets
First written in FY2016. 14 of 32 entries say "Materialised", first in FY2017-Q1. Latest entry: FY2026.
Ichiyoshi Securities moved to the "Worse" side of this theme in 2019, 1 year after the typical company in this theme (2018).
The whole theme swung hardest in 2022: 12 of 20 companies on the "Worse" side.
4 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「During the fiscal year, average daily trading value on the TSE Prime Market was ¥6.7015 trillion, while average daily trading value on the Standard Market was ¥209.0 billion and that on the Growth Market was ¥191.0 billion.」
Stock market trading remained at a high level during the fiscal year, and stock brokerage commissions were ¥5.903 billion, up 36.6% from the previous fiscal year, mitigating the impact of the sluggish market on fee income. - FY2026-H1MitigatedAnnual report
「During the fiscal year, average daily trading value on the TSE Prime Market was ¥5.5368 trillion, while average daily trading value on the Standard Market was ¥199.8 billion and that on the Growth Market was ¥212.3 billion. Stock brokerage commissions were ¥2.583 billion, up 12.7% year on year.」
Although the market plunged at the beginning of the fiscal year, it subsequently rose, and trading value in each market remained at a certain level during the fiscal year. Stock brokerage commissions also increased 12.7% year on year, mitigating the impact of the sluggish market on fee income during the period. - FY2025MaterialisedAnnual report
「Japan's stock market was forced to undergo highly volatile trading. The Nikkei Stock Average reached a record high of ¥42,224 on 11 July, driven by the weaker yen and expectations for the growth of generative AI (artificial intelligence). However, amid concerns about the US economy and the Bank of Japan's additional rate hike, it plunged to ¥31,458 on 5 August, its lowest level since 31 October 2023.」
Significant market volatility actually occurred, and stock brokerage commissions decreased 19.0% from the previous fiscal year. The risk of fluctuations in fee income due to market volatility was reflected in results for the fiscal year. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new major risks or significant changes to the business risks described in the annual securities report that management recognized as potentially having a material effect on the financial position, operating results, or cash flows of the consolidated companies, among the matters concerning business conditions and financial matters described in this Semiannual Report.」
The filing states that there were no material changes to the risk of fluctuations in fee income due to the sluggishness of the stock and bond markets. - FY2024MitigatedAnnual report
「During the fiscal year, average daily trading value on the TSE Prime Market was ¥4.3804 trillion, while average daily trading value on the Standard Market was ¥138.4 billion and that on the Growth Market was ¥155.4 billion. Stock brokerage commissions were ¥5.336 billion, up 19.4% from the previous fiscal year.」
Market trading value remained at a certain level, and stock brokerage commissions also increased 19.4% year on year, mitigating the impact of the sluggish market on earnings during the fiscal year. - FY2024-Q3MitigatedAnnual report
「During the fiscal year, average daily trading value on the TSE Prime Market was ¥4.0311 trillion, while average daily trading value on the Standard Market was ¥128.7 billion and that on the Growth Market was ¥151.9 billion. Stock brokerage commissions were ¥3.801 billion, up 12.7% year on year.」
Trading value in each market remained at a certain level during the fiscal year, and stock brokerage commissions also increased 12.7% year on year, mitigating the impact of the sluggish market on fee income during the period. - FY2024-Q2MitigatedAnnual report
「During the fiscal year, average daily trading value on the TSE Prime Market was ¥3.9215 trillion, while average daily trading value on the Standard Market was ¥130.3 billion and that on the Growth Market was ¥168.6 billion. Stock brokerage commissions were ¥2.631 billion, up 20.1% year on year.」
Trading value in each market remained at a certain level during the fiscal year, and stock brokerage commissions also increased 20.1% year on year, mitigating the impact of the sluggish market on fee income during the period. - FY2023MaterialisedAnnual report
「During the fiscal year, average daily trading value on the TSE Prime Market was ¥3.2777 trillion, while average daily trading value on the Standard Market was ¥91.0 billion and that on the Growth Market was ¥145.4 billion. Stock brokerage commissions were ¥4.468 billion, down 16.0% from the previous fiscal year.」
Fluctuations in trading conditions across markets continued, and stock brokerage commissions decreased 16.0% from the previous fiscal year. The risk of earnings fluctuations due to market volatility was reflected in full-year results. - FY2023-Q3MaterialisedAnnual report
「Stock brokerage commissions were ¥3.373 billion, down 19.0% year on year.」
Against a backdrop of differing trading values across markets, stock brokerage commissions decreased 19.0% year on year, and the risk of fluctuations in fee income due to market volatility was reflected in actual results. - FY2023-Q2MaterialisedAnnual report
「During the fiscal year, average daily trading value on the TSE Prime Market was ¥3.2350 trillion, while average daily trading value on the Standard Market was ¥87.8 billion and that on the Growth Market was ¥124.5 billion.」
Against a backdrop of differing trading values across markets, stock brokerage commissions decreased 21.5% year on year, and the risk of fluctuations in fee income due to market volatility continues to be reflected in actual results. - FY2023-Q1MaterialisedAnnual report
「During the fiscal year, average daily trading value on the TSE Prime Market was ¥3.3899 trillion, while average daily trading value on the Standard Market was ¥85.7 billion and that on the Growth Market was ¥128.1 billion.」
Against a backdrop of differing trading values across markets, stock brokerage commissions decreased 23.0% year on year, and the risk of earnings fluctuations due to market volatility continues to be reflected in actual results. - FY2022MaterialisedAnnual report
「During the fiscal year, average daily trading value on the TSE First Section increased 12.8% from the previous fiscal year to ¥3.1687 trillion, while average daily trading value on Mothers decreased 25.0% to ¥157.7 billion and that on JASDAQ decreased 10.6% to ¥59.1 billion.」
While trading value in the large-cap market increased, trading value on Mothers and JASDAQ declined, and stock brokerage commissions also decreased 11.8% from the previous fiscal year. The risk of earnings fluctuations due to market volatility continues to be reflected in actual results. - FY2022-Q3MaterialisedAnnual report
「During the fiscal year, average daily trading value on the TSE First Section increased 15.8% year on year to ¥3.0531 trillion, while average daily trading value on Mothers decreased 24.5% to ¥160.6 billion and that on JASDAQ decreased 3.3% to ¥62.1 billion. Stock brokerage commissions were ¥4.167 billion, down 2.9% year on year. Of this amount, commissions for small and mid-cap stocks listed on the TSE Second Section, JASDAQ and Mothers were ¥736 million, down 33.8%, and accounted for 17.7% of stock brokerage commissions.」
Trading value varied by market, with declines in trading value on Mothers and JASDAQ and a decline in stock brokerage commissions actually occurring. - FY2022-Q1RestatedAnnual report
「During the first quarter of the current fiscal year, average daily trading value on the TSE First Section increased 6.2% from the first quarter of the previous fiscal year to ¥2.8969 trillion, while average daily trading value on Mothers decreased 20.8% to ¥150.0 billion and that on JASDAQ increased 1.6% to ¥67.6 billion.」
Trading value on the TSE First Section and JASDAQ increased year on year, while trading value on Mothers declined, and the company continues to recognize the risk of fluctuations in fee income due to market volatility. - FY2021MitigatedAnnual report
「During the fiscal year, average daily trading value on the TSE First Section increased 7.6% from the previous fiscal year to ¥2.8090 trillion, while average daily trading value on Mothers increased 126.6% to ¥210.3 billion and that on JASDAQ increased 35.1% to ¥66.1 billion.」
Trading value in the major markets increased year on year, and stock brokerage commissions also increased 27.0%, mitigating the impact of the sluggish market on fee income during the fiscal year. - FY2021-Q3MitigatedAnnual report
「During the first nine months of the current fiscal year, average daily trading value on the TSE First Section increased 8.4% from the first nine months of the previous fiscal year to ¥2.6368 trillion, while average daily trading value on Mothers increased 124.5% to ¥212.6 billion and that on JASDAQ increased 44.2% to ¥64.3 billion.」
Average daily trading value in the major markets increased year on year, and stock brokerage commissions also increased 20.5% year on year, mitigating the impact of the sluggish market on fee income during the period. - FY2021-Q2MitigatedAnnual report
「During the first six months of the current fiscal year, average daily trading value on the TSE First Section increased 7.7% from the first six months of the previous fiscal year to ¥2.5992 trillion, while average daily trading value on Mothers increased 108.1% to ¥205.4 billion and that on JASDAQ increased 60.7% to ¥63.8 billion.」
Average daily trading value in the major markets increased year on year, and stock brokerage commissions also increased 9.0% year on year, mitigating the impact of the sluggish market on fee income during the period. - FY2020MaterialisedAnnual report
「During the fiscal year, average daily trading value on the TSE First Section decreased 8.6% from the previous fiscal year to ¥2.6097 trillion, while average daily trading value on the TSE Second Section decreased 10.0% to ¥32.0 billion, that on Mothers decreased 9.1% to ¥92.8 billion, and that on JASDAQ decreased 16.3% to ¥48.9 billion.」
The decline in trading value across markets actually occurred, with stock brokerage commissions down 32.4% from the previous fiscal year and net operating revenue down 12.8%. - FY2020-Q3MaterialisedAnnual report
「During the first nine months of the current fiscal year, average daily trading value on the TSE First Section decreased 16.8% from the first nine months of the previous fiscal year to ¥2.4321 trillion, while average daily trading value on Mothers increased 1.7% to ¥94.7 billion and that on JASDAQ decreased 27.7% to ¥44.5 billion. As a result, fees and other commissions related to fund wraps increased due to the growth in assets under custody, but operating revenue for the group declined because stock brokerage commissions and offering fees for beneficiary certificates decreased as market conditions deteriorated.」
The decline in market trading value has continued, and the risk has materialized in the form of lower stock brokerage commissions and other fees due to deteriorating market conditions. - FY2020-Q2MaterialisedAnnual report
「During the first six months of the current fiscal year, average daily trading value on the TSE First Section decreased 14.7% from the first six months of the previous fiscal year to ¥2.4139 trillion, while average daily trading value on Mothers increased 4.7% to ¥98.7 billion and that on JASDAQ decreased 33.6% to ¥39.7 billion.」
The decline in trading value on the TSE First Section and JASDAQ actually occurred, and at the company, stock brokerage commissions decreased 41.1% year on year and net operating revenue decreased 20.8%. - FY2020-Q1MaterialisedAnnual report
「During the first quarter of the current fiscal year, average daily trading value on the TSE First Section decreased 14.6% from the first quarter of the previous fiscal year to ¥2.4722 trillion, while average daily trading value on Mothers increased 26.0% to ¥118.0 billion and that on JASDAQ decreased 36.4% to ¥43.0 billion.」
Trading value declined across markets, and at the company, stock brokerage commissions decreased 40.9% year on year and net operating revenue decreased 24.0%. - FY2019MaterialisedAnnual report
「During the fiscal year, average daily trading value on the TSE First Section decreased 3.4% from the previous fiscal year to ¥2.8550 trillion, while average daily trading value on the TSE Second Section decreased 36.8% to ¥35.6 billion, that on Mothers decreased 8.1% to ¥102.0 billion, and that on JASDAQ decreased 32.9% to ¥58.4 billion.」
The decline in market trading value actually occurred, with brokerage commissions down 27.1% year on year and assets under custody down 7.6% from the previous fiscal year-end. - FY2019-Q3MaterialisedAnnual report
「Against this backdrop, we continued to implement measures to meet customer needs, including proposing investments in stocks offering stability and dividends in the low-interest-rate environment, as well as investments in small and mid-cap growth companies leveraging the strength of our group, its research capabilities. However, commission income from stock brokerage declined from the first nine months of the previous fiscal year, due in part to the decrease in trading value among individual investors.」
The deterioration in market conditions and the decline in trading value among individual investors actually occurred, resulting in lower stock brokerage commissions and a decrease in assets under custody. - FY2019-Q2RestatedAnnual report
「During the first six months of the current fiscal year, average daily trading value on the TSE First Section increased 6.4% from the first six months of the previous fiscal year to ¥2.8285 trillion, while average daily trading value on the TSE Second Section decreased 21.0% to ¥38.6 billion, that on Mothers decreased 17.4% to ¥94.2 billion, and that on JASDAQ decreased 17.7% to ¥59.8 billion.」
An environment in which trading value varies across markets has continued, and the company continues to recognize the risk of fluctuations in fee income due to market volatility. - FY2019-Q1RestatedAnnual report
「During the first quarter of the current fiscal year, average daily trading value on the TSE First Section increased 6.6% from the first quarter of the previous fiscal year to ¥2.8961 trillion, while average daily trading value on Mothers decreased 27.1% to ¥93.6 billion and that on JASDAQ increased 5.3% to ¥67.6 billion.」
This indicates an environment in which trading value varies across markets. The filing states that there were no material changes in business and other risks, and the company continues to recognize the risk of fluctuations in fee income due to market volatility. - FY2018-Q3RestatedAnnual report
「During the nine months ended the third quarter, average daily trading value on the TSE First Section was ¥2.8345 trillion, up 11.7% from the nine months ended the third quarter of the previous fiscal year; average daily trading value on the JASDAQ market was ¥78.3 billion, up 75.5%; and average daily trading value on the Mothers market was ¥111.3 billion, down 10.3%.」
Trading value on the TSE First Section and JASDAQ increased year on year, while trading value on Mothers declined. The filing states that there were no material changes in business and other risks. - FY2018-Q2RestatedAnnual report
「During the six months ended the second quarter, average daily trading value on the TSE First Section was ¥2.6589 trillion, up 9.3% from the six months ended the second quarter of the previous fiscal year; average daily trading value on the JASDAQ market was ¥72.7 billion, up 67.7%; and average daily trading value on the Mothers market was ¥114.1 billion, down 20.1%.」
Trading value on the TSE First Section and JASDAQ increased year on year, while trading value on Mothers declined. The company states that there were no material changes in business and other risks. - FY2017RestatedAnnual report
「During the fiscal year, average daily trading value on the TSE was ¥2.7399 trillion, down 11.1% from the previous fiscal year, while average daily trading value on the JASDAQ market was ¥47.2 billion, down 32.7%.」
The year-on-year decline in market trading value continued for the full fiscal year, with the TSE down 11.1% and JASDAQ down 32.7%. The company continues to identify the risk of fluctuations in commission income due to weak markets. - FY2017-Q3RestatedAnnual report
「During the nine months ended the third quarter, average daily trading value on the TSE was ¥2.7317 trillion, down 11.3% from the nine months ended the third quarter of the previous fiscal year, while average daily trading value on the JASDAQ market was ¥44.6 billion, down 38.2%.」
The year-on-year decline in market trading value continued, but the rate of decline narrowed from the second quarter's 17.0% decline on the TSE and 45.9% decline on JASDAQ. The risk of fluctuations in commission income due to weak markets continued to be reflected in the results. - FY2017-Q2WorsenedAnnual report
「During the six months ended the second quarter, average daily trading value on the TSE was ¥2.6400 trillion, down 17.0% from the six months ended the second quarter of the previous fiscal year, while average daily trading value on the JASDAQ market was ¥43.3 billion, down 45.9%.」
The market trading figures deteriorated further, from declines of 14.1% on the TSE and 44.9% on JASDAQ in the first quarter, and the company's stock brokerage trading value also fell 12.2% year on year. - FY2017-Q1MaterialisedAnnual report
「During the three months ended the first quarter, average daily trading value on the TSE was ¥2.7053 trillion, down 14.1% from the three months ended the first quarter of the previous fiscal year, while average daily trading value on the JASDAQ market was ¥48.8 billion, down 44.9%.」
Weak market trading actually occurred, and the company's stock brokerage trading value fell 14.7% year on year to ¥540.4 billion. - FY2016First statedAnnual report
「If domestic or overseas equity and bond markets decline or remain weak, trading volume in the secondary market may decrease, which could result in a reduction in the company's brokerage commissions.」
The company states that the primary market may also be affected in the same way.