Risk of Sharp Market Movements in Proprietary Trading
First written in FY2016. 9 of 18 entries say "Worsened", first in FY2023-Q2. Latest entry: FY2026.
Nissan Securities Group moved to the "Worse" side of this theme in 2022, 6 years after the typical company in this theme (2016).
The whole theme swung hardest in 2022: 7 of 11 companies on the "Worse" side.
1 other company's latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Futures transactions Short 2,542,925 Long 7,433,179」
Contract amounts for commodity-related futures transactions increased from short positions of ¥1,773 million and long positions of ¥5,085 million at the end of the previous fiscal year to short positions of ¥2,543 million and long positions of ¥7,433 million. Exposure to market movements in proprietary trading operations has expanded. - 2026-04-30WorsenedRevision of earnings forecasts
「Trading income was ¥221 million, or 49.0% of the previous year.」
Trading income remained positive but fell to 49.0% of the previous year, indicating deterioration in revenue from proprietary trading operations. - FY2026-H1WorsenedAnnual report
「Futures transactions Short 2,821,390 Long 8,056,185」
Contract amounts for commodity-related futures transactions increased from short positions of ¥1,773 million and long positions of ¥5,085 million at the end of the previous fiscal year to short positions of ¥2,821 million and long positions of ¥8,056 million. Exposure to market movements related to proprietary trading has expanded. - FY2025MitigatedAnnual report
「Futures transactions Short 1,773,888 Long 5,085,466」
Contract amounts for commodity-related futures transactions decreased from short positions of ¥5,769 million and long positions of ¥5,423 million at the end of the previous fiscal year to short positions of ¥1,774 million and long positions of ¥5,085 million. Exposure based on contract amounts related to proprietary trading has contracted numerically. - FY2025-H1WorsenedAnnual report
「Futures transactions Short 10,493,582 Long 14,085,027」
Contract amounts for commodity-related futures transactions increased from short positions of ¥5,769 million and long positions of ¥5,423 million at the end of the previous consolidated fiscal year to short positions of ¥10,494 million and long positions of ¥14,085 million. Exposure in proprietary trading operations has expanded. Meanwhile, trading income was ¥301 million, or 119.5% of the previous year's level, indicating solid performance. - FY2024WorsenedAnnual report
「Trading income was ¥631 million, or 89.7% of the previous year's level, partly because proprietary dealing at a consolidated subsidiary remained sluggish.」
As proprietary dealing at a consolidated subsidiary remained sluggish, trading income was 89.7% of the previous year's level. The decline in the performance of proprietary trading operations is also shown on a full-year basis. - FY2024-Q3WorsenedAnnual report
「Trading income was ¥400 million, or 75.6% of the previous year's level, partly because proprietary dealing at a consolidated subsidiary remained sluggish.」
As proprietary dealing at a consolidated subsidiary remained sluggish, trading income was ¥400 million, or 75.6% of the previous year's level. The decline in the performance of proprietary trading operations has continued, but the disclosure does not state that an unanticipated risk caused by sharp market movements occurred. - FY2024-Q2WorsenedAnnual report
「Trading income was ¥252 million, or 58.1% of the previous year's level, partly because proprietary dealing at a consolidated subsidiary performed poorly.」
As proprietary dealing at a consolidated subsidiary performed poorly, trading income was ¥252 million, or 58.1% of the previous year's level. The decline in the performance of proprietary trading operations is shown numerically. - FY2024-Q1Weak proprietary dealing performanceAnnual report
「Trading income was ¥145 million, or 63.2% of the previous year's level, partly because proprietary dealing at a consolidated subsidiary performed poorly.」
As proprietary dealing at a consolidated subsidiary performed poorly, trading income was ¥145 million, or 63.2% of the previous year's level. The deterioration in the performance of proprietary trading operations is indicated, but the disclosure does not state that an unanticipated risk caused by sharp market movements occurred. - FY2023WorsenedAnnual report
「Futures transactions Short 80,422,319 Long 80,156,291」
Contract amounts for commodity-related futures transactions increased substantially from short positions of ¥12,176 million and long positions of ¥12,186 million at the end of the previous fiscal year. The figures show increased exposure to market movements in proprietary trading and other operations, but the disclosure does not state that an unanticipated loss occurred. - FY2023-Q2WorsenedAnnual report
「Futures transactions Short 29,160,485 Long 29,220,061」
Contract amounts for commodity-related futures transactions increased from short positions of ¥12,176 million and long positions of ¥12,186 million at the end of the previous consolidated fiscal year to short positions of ¥29,160 million and long positions of ¥29,220 million. Exposure to market-movement risk in proprietary trading operations has expanded, but the disclosure does not state that an unanticipated risk caused by sharp market movements occurred. - FY2022-Q2Decrease in derivative contract amountsAnnual report
「At the end of the second quarter of the current consolidated fiscal period Short 50,951」
Short contract amounts for commodity-related derivatives to which hedge accounting does not apply were ¥50.951 million, down from ¥177.588 million at the end of the previous consolidated fiscal year. There is no disclosure that the risk of sharp market movements actually materialized. - FY2021-Q2Decrease in derivative contract amountsAnnual report
「Total of physical futures and cash-settled transactions Short 290,550 Long 64,022」
Contract amounts for commodity-related derivatives to which hedge accounting does not apply decreased from short positions of ¥679 million and long positions of ¥559 million at the end of the previous consolidated fiscal year to short positions of ¥291 million and long positions of ¥64 million. Although the contract amounts are quantified, there is no disclosure that the risk of sharp market movements actually materialized, so materialized is false. - FY2020Year-on-year increase in derivative contract amountsAnnual report
「Total of physical futures and cash-settled transactions Short 679,054 Long 558,806」
Contract amounts for commodity-related derivatives to which hedge accounting does not apply increased from short positions of ¥395 million and long positions of ¥397 million at the end of the previous fiscal year to short positions of ¥679 million and long positions of ¥559 million. - FY2020-Q2Increase in derivative contract amountsAnnual report
「At the end of the second quarter of the current consolidated fiscal period (30 September 2019) Total of physical futures and cash-settled transactions Short 7,673,029 Long 7,464,720 Net total — — — 19,117」
For commodity-related derivatives to which hedge accounting does not apply, short contract amounts were ¥7,673 million and long contract amounts were ¥7,464 million. Contract amounts increased substantially from short positions of ¥395 million and long positions of ¥396 million at the end of the previous consolidated fiscal year. - FY2019RestatedAnnual report
「For these operations, we have established an adequate risk management framework through dealing operation regulations and daily monitoring. However, sharp market movements and other factors could cause risks not initially anticipated to materialize, which could affect the financial results of our group.」
For proprietary trading operations, the disclosure continues to state that, while regulations and daily monitoring are in place, unanticipated risks arising from sharp market movements remain. - FY2018RestatedAnnual report
「For these operations, we have established an adequate risk management framework through dealing operation regulations and daily monitoring. However, sharp market movements and other factors could cause risks not initially anticipated to materialize, which could affect the financial results of our group.」
For proprietary trading operations, the disclosure continues to state that, while regulations and daily monitoring are in place, unanticipated risks arising from sharp market movements remain. - FY2016First statedAnnual report
「For these operations, we have established an adequate risk management framework through dealing operation regulations and daily monitoring. However, sharp market movements and other factors could cause risks not initially anticipated to materialize, which could affect the financial results of our group.」
While maintaining dealing operation regulations and daily monitoring, the disclosure identifies unanticipated risks arising from sharp market movements.