Komori
Maruhachi Securities (8700) · RiskMaterialised

Market Fluctuation Risk in Proprietary Trading

First written in FY2016. 36 of 37 entries say "Materialised", first in FY2017-Q1. Latest entry: 2026-07-31.

37entries
11years
3from disclosures
Share on X
How it moved
ProgressHeldSoftenedWorseMaterialisedFY2017-Q1 – 2026-07-312016: 320162017: 420172018: 420182019: 420192020: 320202021: 420212022: 420222023: 320232024: 320242025: 120252026: 42026
Same theme, other companies
Market, Position and Counterparty Risk in Proprietary TradingA theme 13 companies write about · 12 as a headwind · 0 as a tailwind

Maruhachi Securities moved to the "Worse" side of this theme in 2016, 1 year before the typical company in this theme (2017).

The whole theme swung hardest in 2022: 7 of 11 companies on the "Worse" side.

2 other companies' latest entry also says "Materialised".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. 2026-07-31MaterialisedEarnings

    「Trading income was ¥134 million, down 9.4% year on year. This was mainly due to a decrease in trading income from equities and other securities.」

    Trading income from equities and other securities declined year on year, with market- and product-specific fluctuations in proprietary trading reflected in profit and loss.
  2. FY2026MaterialisedAnnual report

    「Trading income was ¥737 million, up 3.2% year on year. This was mainly due to an increase in trading income from equities and other securities.」

    Trading gains and losses increased 3.2% year on year due to higher trading gains and losses on equities and other securities, with market- and product-specific movements reflected in proprietary trading gains and losses.
  4. FY2026-H1MaterialisedAnnual report

    「“Trading gains and losses” amounted to ¥430 million, up 45.0% year on year. This was mainly due to an increase in trading gains and losses on equities and other securities.」

    Trading gains and losses increased 45.0% year on year due to higher trading gains and losses on equities and other securities, with market- and product-specific movements in proprietary trading reflected in gains and losses.
  5. FY2025-H1MaterialisedAnnual report

    「“Trading gains and losses” amounted to ¥296 million, down 31.7% year on year. This was due to decreases in both trading gains and losses on equities and other securities and trading gains and losses on bonds and other instruments.」

    Trading gains and losses on both equities and other securities and bonds and other instruments declined, resulting in a 31.7% year-on-year decrease in total trading gains and losses.
  6. FY2024MaterialisedAnnual report

    「“Trading gains and losses” amounted to ¥881 million, up 15.1% year on year. This was mainly due to higher trading volume in foreign equities.」

    Trading gains and losses increased 15.1% year on year, mainly due to higher trading volume in foreign equities, with market- and product-specific movements in proprietary trading reflected in full-year gains and losses.
  7. FY2024-Q3MaterialisedAnnual report

    「“Trading gains and losses” amounted to ¥617 million, up 15.0% year on year. This was mainly due to higher trading volume in foreign equities.」

    Trading gains and losses increased 15.0% year on year, mainly due to higher trading volume in foreign equities, with market- and product-specific movements in proprietary trading reflected in gains and losses.
  8. FY2024-Q2MaterialisedAnnual report

    「“Trading gains and losses” amounted to ¥434 million, up 12.9% year on year. This was mainly due to higher revenue from proprietary trading and higher trading volume in foreign equities.」

    Against a backdrop of higher revenue from proprietary trading and higher trading volume in foreign equities, trading gains and losses increased 12.9% year on year, with market- and product-specific movements reflected in proprietary trading gains and losses.
  9. FY2024-Q1MaterialisedAnnual report

    「“Trading gains and losses” amounted to ¥241 million, up 3.4% year on year. This was mainly due to higher trading volume in foreign equities.」

    Trading gains and losses increased year on year, mainly due to higher trading volume in foreign equities, with market- and product-specific movements in proprietary trading reflected in gains and losses.
  10. FY2023MaterialisedAnnual report

    「“Trading gains and losses” amounted to ¥765 million, down 12.2% year on year. This was mainly due to lower trading volume in foreign equities.」

    Trading gains and losses declined 12.2% year on year, mainly due to lower trading volume in foreign equities, with market volatility risk in proprietary trading reflected in full-year gains and losses.
  11. FY2023-Q2MaterialisedAnnual report

    「“Trading gains and losses on equities and other securities” amounted to ¥185 million, down 23.1% year on year. This was mainly due to lower revenue from trading foreign equities. “Trading gains and losses on bonds and other instruments” amounted to ¥199 million, up 35.7% year on year. This was mainly due to higher revenue from trading structured bonds.」

    Revenue from trading foreign equities declined, while revenue from trading structured bonds increased, with product- and market-specific movements reflected in proprietary trading gains and losses.
  12. FY2023-Q1MaterialisedAnnual report

    「“Trading gains and losses” amounted to ¥233 million, up 26.0% year on year. “Trading gains and losses on equities and other securities” amounted to ¥120 million, up 2.0% year on year. This was mainly due to higher revenue from proprietary trading. “Trading gains and losses on bonds and other instruments” amounted to ¥113 million, up 68.1% year on year. This was mainly due to sales of structured bonds.」

    Against a backdrop of proprietary trading and structured-bond sales, trading gains and losses on equities and other securities and on bonds and other instruments increased year on year, with market- and product-specific movements in gains and losses becoming more pronounced.
  13. FY2022MaterialisedAnnual report

    「“Trading gains and losses” amounted to ¥872 million, down 21.4% year on year. The breakdown is as follows. (Trading gains and losses on equities and other securities) “Trading gains and losses on equities and other securities” amounted to ¥506 million, down 36.4% year on year. This was mainly due to lower revenue from trading foreign equities. (Trading gains and losses on bonds and other instruments) “Trading gains and losses on bonds and other instruments” amounted to ¥365 million, up 16.8% year on year. This was due to higher revenue from foreign-currency-denominated bonds.」

    In proprietary trading, gains and losses on equities and other securities declined due to lower revenue from foreign equities, while revenue from foreign-currency-denominated bonds increased, with product-specific market movements reflected in full-year gains and losses.
  14. FY2022-Q3MaterialisedAnnual report

    「“Trading gains and losses on equities and other securities” amounted to ¥395 million, down 41.0% year on year. This was mainly due to lower revenue from trading foreign equities. “Trading gains and losses on bonds and other instruments” amounted to ¥222 million, down 17.1% year on year. This was due to lower revenue from trading foreign-currency-denominated bonds.」

    Revenue from trading foreign equities and foreign-currency-denominated bonds declined, with market- and product-specific movements in proprietary trading gains and losses appearing as a year-on-year decline in earnings.
  15. FY2022-Q2MaterialisedAnnual report

    「“Trading gains and losses” amounted to ¥387 million, down 37.9% year on year. The breakdown is as follows. (Trading gains and losses on equities and other securities) “Trading gains and losses on equities and other securities” amounted to ¥240 million, down 42.3% year on year. This was mainly due to lower revenue from trading foreign equities. (Trading gains and losses on bonds and other instruments) “Trading gains and losses on bonds and other instruments” amounted to ¥147 million, down 29.1% year on year. This was due to lower revenue from trading foreign-currency-denominated bonds.」

    Revenue from trading foreign equities and foreign-currency-denominated bonds declined, resulting in a 37.9% year-on-year decrease in total trading gains and losses.
  16. FY2022-Q1MaterialisedAnnual report

    「“Trading gains and losses on equities and other securities” amounted to ¥118 million, down 24.0% year on year. This was mainly due to lower revenue from trading foreign equities. “Trading gains and losses on bonds and other instruments” amounted to ¥67 million, down 38.9% year on year. This was due to lower revenue from foreign-currency-denominated bonds.」

    In proprietary trading, revenue from foreign equities and foreign-currency-denominated bonds declined, resulting in year-on-year decreases in trading gains and losses on equities and other securities and on bonds and other instruments. Market- and product-specific movements are reflected in gains and losses.
  17. FY2021MaterialisedAnnual report

    「“Trading gains and losses on equities and other securities” amounted to ¥796 million, up 42.4% year on year. This was mainly due to higher revenue from trading foreign equities. “Trading gains and losses on bonds and other instruments” amounted to ¥312 million, down 43.6% year on year. This was due to lower revenue from foreign-currency-denominated bonds.」

    Trading gains and losses on foreign equities increased, while those on foreign-currency-denominated bonds declined, with market- and product-specific movements reflected in full-year gains and losses.
  18. FY2021-Q3MaterialisedAnnual report

    「“Trading gains and losses on equities and other securities” amounted to ¥669 million, up 54.9% year on year. This was mainly due to higher revenue from trading foreign equities. “Trading gains and losses on bonds and other instruments” amounted to ¥268 million, down 47.8% year on year. This was due to lower revenue from foreign-currency-denominated bonds.」

    Trading gains and losses on foreign equities increased, while those on foreign-currency-denominated bonds declined, with market- and product-specific movements reflected in proprietary trading gains and losses.
  19. FY2021-Q1MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was income of ¥155 million, up 16.4% year on year, owing partly to higher revenue from trading in foreign equities. Trading income (loss) on bonds and other instruments was income of ¥110 million, down 50.4% year on year, owing to lower revenue from foreign-currency-denominated bonds, and total trading income was income of ¥265 million, down 25.3%.」

    Trading income and loss on foreign equities increased, while trading income and loss on foreign-currency-denominated bonds fell 50.4% year on year, with market- and product-specific fluctuations reflected in proprietary trading income and loss.
  20. FY2020MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was ¥559 million, down 9.9% year on year, owing partly to lower revenue from over-the-counter trading in foreign equities. Trading income (loss) on bonds and other instruments was ¥554 million, down 49.4% year on year, owing partly to lower revenue from foreign-currency-denominated bonds, and total trading income was ¥1,113 million, down 35.1%.」

    Against a backdrop of lower revenue from foreign equities and foreign-currency-denominated bonds, proprietary trading income and loss declined year on year.
  21. FY2020-Q3MaterialisedAnnual report

    「Trading income (loss) on bonds and other instruments was ¥514 million, down 34.6% year on year, owing to lower revenue from foreign-currency-denominated bonds, and total trading income was ¥947 million, down 22.3%.」

    Trading income and loss on bonds and other instruments from foreign-currency-denominated bonds fell 34.6% year on year, while total trading income and loss fell 22.3%. Product- and market-specific fluctuations are reflected in proprietary trading income and loss.
  22. FY2020-Q2MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was income of ¥254 million, down 36.5% year on year, owing partly to lower revenue from over-the-counter trading in foreign equities, and total trading income was income of ¥645 million, down 18.4%.」

    Against a backdrop of lower revenue from over-the-counter trading in foreign equities, income and loss on shares and other instruments and total trading income fell year on year, with market- and product-specific fluctuations reflected in income and loss.
  23. FY2020-Q1MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was income of ¥133 million, down 30.5% year on year, owing partly to lower revenue from over-the-counter trading in foreign equities. Trading income (loss) on bonds and other instruments was income of ¥221 million, up 54.6% year on year, owing to higher revenue from foreign-currency-denominated bonds, and total trading income was income of ¥355 million, up 5.9%.」

    Income and loss on foreign equities and foreign-currency-denominated bonds moved in different directions and at different rates, with market- and product-specific fluctuations reflected in proprietary trading income and loss.
  24. FY2019MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was ¥620 million, up 19.9% year on year, owing partly to higher revenue from over-the-counter trading in foreign equities. Trading income (loss) on bonds and other instruments was ¥1,095 million, up 45.4% year on year, owing partly to higher revenue from foreign-currency-denominated bonds, and total trading income was ¥1,716 million, up 35.0%.」

    Proprietary trading income and loss on foreign equities and foreign-currency-denominated bonds increased, with market- and product-specific fluctuations reflected in full-year income and loss.
  25. FY2019-Q3MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was income of ¥432 million, up 29.3% year on year, owing partly to higher revenue from over-the-counter trading in foreign equities. Trading income (loss) on bonds and other instruments was ¥786 million, up 65.3% year on year, owing to higher revenue from foreign-currency-denominated bonds, and total trading income was ¥1,218 million, up 50.5%.」

    In proprietary trading, income and loss on shares and other instruments and on bonds and other instruments increased year on year owing to higher revenue from foreign equities and foreign-currency-denominated bonds. Market- and product-specific fluctuations are reflected in income and loss.
  26. FY2019-Q2MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was income of ¥400 million, up 102.2% year on year, owing partly to higher revenue from over-the-counter trading in foreign equities. Trading income (loss) on bonds and other instruments was income of ¥391 million, up 19.4% year on year, owing to higher revenue from foreign-currency-denominated bonds, and total trading income was income of ¥791 million, up 50.5%.」

    In proprietary trading, income and loss on shares and other instruments and on bonds and other instruments increased year on year owing to higher revenue from foreign equities and foreign-currency-denominated bonds. Market- and product-specific fluctuations are reflected in income and loss.
  27. FY2019-Q1MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was income of ¥192 million, up 146.0% year on year, owing partly to higher revenue from over-the-counter trading in foreign equities. Trading income (loss) on bonds and other instruments was income of ¥143 million, up 17.4% year on year, owing to higher revenue from foreign-currency-denominated bonds, and total trading income was income of ¥335 million, up 67.6%.」

    In proprietary trading, income and loss on shares and other instruments and on bonds and other instruments increased year on year owing to higher revenue from foreign equities and foreign-currency-denominated bonds. Market- and product-specific fluctuations are reflected in income and loss.
  28. FY2018MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was ¥517 million, up 789.2% year on year, owing partly to higher revenue from over-the-counter trading in foreign equities. Trading income (loss) on bonds and other instruments was ¥753 million, down 28.3% year on year, owing to lower revenue from foreign-currency-denominated bonds, and total trading income was ¥1,271 million, up 14.7%.」

    Proprietary trading income and loss increased significantly on shares and other instruments but declined on bonds and other instruments, with market- and product-specific fluctuations reflected in the full-year figures.
  29. FY2018-Q3MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was income of ¥334 million, owing partly to higher revenue from over-the-counter trading in foreign equities (compared with income of ¥16 million in the same period of the previous year). Trading income (loss) on bonds and other instruments was ¥476 million, down 33.8% year on year, owing to lower revenue from foreign-currency-denominated bonds, and total trading income was ¥810 million, up 10.2%.」

    In proprietary trading, trading income on shares and other instruments from over-the-counter trading in foreign equities increased, while trading income on bonds and other instruments from foreign-currency-denominated bonds fell 33.8% year on year, with the impact of market fluctuations continuing to be reflected.
  30. FY2018-Q2MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was income of ¥197 million, owing partly to higher revenue from over-the-counter trading in foreign equities (compared with a loss of ¥31 million in the same period of the previous year). Trading income (loss) on bonds and other instruments was income of ¥328 million, down 26.4% year on year, owing to lower revenue from foreign-currency-denominated bonds, and total trading income was ¥526 million, up 27.1%.」

    Proprietary trading income and loss on shares and other instruments changed from a loss in the same period of the previous year to income, while income and loss on bonds and other instruments fell 26.4% year on year owing to lower revenue from foreign-currency-denominated bonds, reflecting the impact of market fluctuations.
  31. FY2018-Q1MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was income of ¥78 million, owing partly to higher revenue from over-the-counter trading in foreign equities (compared with a loss of ¥18 million in the same period of the previous year). Trading income (loss) on bonds and other instruments was income of ¥122 million, down 33.4% year on year, owing to lower revenue from foreign-currency-denominated bonds, and total trading income was ¥200 million, up 21.6%.」

    In proprietary trading, income and loss on shares and other instruments changed from a loss in the same period of the previous year to income of ¥78 million, while income and loss on bonds and other instruments fell to ¥122 million owing to lower revenue from foreign-currency-denominated bonds.
  32. FY2017MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was ¥58 million, down 73.0% year on year. Trading income (loss) on bonds and other instruments was ¥1,050 million, up 196.0% year on year, owing to higher revenue from foreign-currency-denominated bonds, and total trading income was ¥1,108 million, up 94.2%.」

    In proprietary trading, income and loss on shares and other instruments declined, while trading income on bonds and other instruments from foreign-currency-denominated bonds increased significantly, with the impact of market fluctuations reflected in the full-year figures.
  33. FY2017-Q3MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was a loss through the second quarter but became income of ¥16 million in the third quarter, down 90.5% year on year. Trading income (loss) on bonds and other instruments was ¥718 million, up 866.1% year on year, owing to higher revenue from foreign-currency-denominated bonds, and total trading income was ¥735 million, up 197.6%.」

    Proprietary trading income and loss on shares and other instruments changed from a loss through the second quarter to income in the third quarter, while income and loss on bonds and other instruments changed to ¥718 million owing to higher revenue from foreign-currency-denominated bonds.
  34. FY2017-Q2MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was a loss of ¥31 million (compared with income of ¥133 million in the same period of the previous year), while trading income (loss) on bonds and other instruments was income of ¥445 million, owing to higher revenue from foreign-currency-denominated bonds (compared with income of ¥14 million in the same period of the previous year). Total trading income was ¥414 million, up 178.4% year on year.」

    Income and loss from proprietary trading on shares and other instruments changed from income in the same period of the previous year to a ¥31 million loss, with the impact of market fluctuations reflected in the figures.
  35. FY2017-Q1MaterialisedAnnual report

    「Trading income (loss) on shares and other instruments was a loss of ¥18 million (compared with income of ¥71 million in the same period of the previous year), while trading income (loss) on bonds and other instruments was income of ¥183 million, owing to higher revenue from foreign-currency-denominated bonds (compared with income of ¥6 million in the same period of the previous year).」

    Income and loss from proprietary trading on shares and other instruments changed from income in the same period of the previous year to a loss, with the impact of market fluctuations reflected in the figures.
  36. FY2016First statedAnnual report

    「The company conducts proprietary trading in shares, bonds and other instruments and continuously monitors its proprietary positions and other exposures. However, these can fluctuate significantly depending on market conditions for equities, bonds and foreign exchange, potentially affecting the company's operating results and financial position.」

    The company holds proprietary positions and is exposed to fluctuations in equity, bond and foreign exchange markets.
Moved together

"Changes in fees received and other revenue due to stock, bond and foreign exchange market conditions" moved the same way as this thread, in the same document, in 36 of its 37 moves.

361712665★123456
  1. ★This thread
  2. 1Changes in fees received and other revenue due to stock, bond and foreign exchange market conditions36×
  3. 2Uncertainty in overseas economies and financial markets associated with the downturn in emerging-market economies, the UK's withdrawal from the EU, and the transition to a new US administration17×
  4. 3Transition to a revenue structure less dependent on market conditions through the expansion of assets under custody in investment trusts12×
  5. 4Establishing a solid sales base centered on their home prefecture of Aichi6×
  6. 5Risk of Higher Interest Rates Due to Domestic Inflation and Adjustment of Monetary Easing Policy6×
  7. 6¥300 billion in assets under custody, including ¥100 billion in investment trusts, by the end of March 20205×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
Maruhachi Securities's next results are scheduled for 2026-10-30. Read the earnings preview It last moved in the Earnings of 2026-07-31: "Materialised".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Market Fluctuation Risk in Proprietary Trading | Maruhachi Securities Co.,Ltd. (8700) | Komori