Impact of Securities Market Fluctuations on Earnings and Asset Values
First written in FY2016. 41 of 42 entries say "Materialised", first in FY2017-Q1. Latest entry: 2026-10-23.
IwaiCosmo Holdings 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 9 companies on the "Worse" side.
0 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「Thereafter, the market remained weak amid heightened concern over geopolitical risks, and the closing price at the end of March was ¥51,063.72, up 43.4% from the end of the previous fiscal year.」
A sharp market decline and subsequent weakness caused by tariff policies and conditions in the Middle East, followed by a rise in share prices, occurred within the same fiscal year, and market volatility was reflected in the revenue environment of the securities business. - FY2026-H1MaterialisedAnnual report
「In addition to initiatives to improve customer service and expand revenue, the company benefited from favorable market conditions, including rising domestic and overseas share prices. Operating revenue rose 12.7% year on year to ¥14,461 million, while net operating revenue rose 12.4% to ¥14,287 million.」
Favorable market conditions, including rising domestic and overseas share prices, were reflected in higher operating revenue and net operating revenue year on year. - FY2025MaterialisedAnnual report
「The main factor was an increase in trading income, primarily from over-the-counter trading in U.S. equities, from ¥10,636 million to ¥13,433 million, an increase of ¥2,797 million, or 26.3%.」
Amid continued market volatility driven by domestic and overseas share prices, policies and geopolitical conditions, the increase in trading income from U.S. equities was reflected in operating revenue and other performance. - FY2025-H1MaterialisedAnnual report
「Trading income on securities and other instruments, primarily from domestic over-the-counter trading in U.S. equities, increased 44.7% year on year to profit of ¥6,473 million as trading became more active. Investors adopted a stronger risk-on stance against a backdrop of increased prospects for a soft landing that would avert a sharp economic slowdown after the Federal Reserve cut interest rates for the first time in four and a half years, and the Dow Jones Industrial Average reached a record high at the end of September.」
The rise in the U.S. equity market and increased trading activity were reflected in a 44.7% year-on-year increase in trading income on securities and other instruments, and the risk that market conditions would affect revenue continued to be evident. - FY2024MaterialisedAnnual report
「The main factor was a 95.4% increase in trading income, primarily from over-the-counter trading in U.S. equities, from ¥5,443 million to ¥10,636 million, an increase of ¥5,192 million, as favorable market conditions, including rising expectations for a soft landing in the U.S. economy, increased demand for generative AI and record-high levels for the Dow Jones Industrial Average at the end of March, drove share prices higher.」
Favorable domestic and overseas market conditions were reflected in a 95.4% increase in trading income, primarily from U.S. equities, and a 22.1% increase in operating revenue. - FY2024-Q3MaterialisedAnnual report
「Trading income on securities and other instruments, primarily from domestic over-the-counter trading in U.S. equities, increased as trading became more active amid favorable market conditions, including rising expectations for a "soft landing" that would avert a sharp economic slowdown. The Dow Jones Industrial Average reached a record high in late December, and trading income rose 127.7% year on year to profit of ¥7,432 million.」
The rise in the U.S. equity market and increased trading activity were reflected in a 127.7% year-on-year increase in trading income on securities and other instruments, and the risk that market conditions would affect revenue was reflected in performance for the quarter. - FY2024-Q2MaterialisedAnnual report
「Trading income on securities and other instruments, primarily from domestic over-the-counter trading in U.S. equities, increased as trading became more active amid rising expectations for a "soft landing" that would avert a sharp economic slowdown. The Dow Jones Industrial Average rose for 13 consecutive trading days for the first time in approximately 36 years, and trading income rose 99.5% year on year to profit of ¥4,475 million.」
The rise in the U.S. equity market and increased trading activity were reflected in a 99.5% year-on-year increase in trading income on securities and other instruments. The risk that market conditions would affect revenue was also evident in the quarter. - FY2024-Q1MaterialisedAnnual report
「In addition to focusing on initiatives to improve customer service and expand revenue, the company benefited from favorable market conditions, including rising domestic and overseas share prices. Operating revenue rose 23.5% year on year to ¥5,713 million, while net operating revenue rose 23.1% to ¥5,632 million.」
Favorable market conditions, including rising domestic and overseas share prices, were reflected in first-quarter performance through a 23.5% year-on-year increase in operating revenue and a 23.1% increase in net operating revenue. - FY2023MaterialisedAnnual report
「Operating revenue declined 4.9% from the previous fiscal year to ¥19,691 million, while net operating revenue declined 5.3% to ¥19,428 million.」
An uncertain market outlook against a backdrop of global monetary tightening and geopolitical risk was reflected in the fiscal year's performance through declines in operating revenue and net operating revenue. - FY2023-Q3MaterialisedAnnual report
「Under these economic conditions, the domestic equity market declined from ¥27,821.43 at the end of March 2022 to ¥26,094.50 at the end of December, ending trading 6.2% below the end of the previous fiscal year. In the U.S. equity market, the Dow Jones Industrial Average also ended trading at $33,147.25 at the end of December, down 4.4% from the end of the previous fiscal year. Against a backdrop of an uncertain market outlook in Japan and overseas, operating revenue declined 7.0% year on year to ¥14,665 million, while ordinary income declined 14.5% to ¥3,884 million.」
Market declines and uncertainty resulting from monetary tightening in Europe and the United States, inflation and geopolitical conditions were reflected in falling domestic and overseas share prices, a 7.0% decline in operating revenue and a 14.5% decline in ordinary income. - FY2023-Q2MaterialisedAnnual report
「Trading income on securities and other instruments, primarily from domestic over-the-counter trading in U.S. equities, was affected by a market environment lacking clear direction as investors gauged the course of U.S. monetary policy, resulting in a 50.0% year-on-year decline to profit of ¥2,243 million.」
A market environment lacking clear direction against the backdrop of U.S. monetary policy was reflected in a 50.0% year-on-year decline in trading income on securities and other instruments. Consolidated operating revenue also declined 6.1% year on year. - FY2023-Q1MaterialisedAnnual report
「Affected by a market environment lacking clear direction as investors gauged the course of U.S. monetary policy, profit declined 53.5% year on year to ¥983 million.」
A market environment lacking clear direction against the backdrop of U.S. monetary policy was reflected in a 53.5% year-on-year decline in trading income on securities and other instruments, primarily U.S. equities. Consolidated operating revenue also declined 8.6% year on year. - FY2022MaterialisedAnnual report
「The main factors were the decline in brokerage commissions and trading income from the high levels recorded in the previous consolidated fiscal year, as the risk of the Omicron variant's spread, together with Russia's military invasion of Ukraine, heightened geopolitical risk and created an uncertain market environment.」
The resurgence of infectious diseases and geopolitical risks arising from the situation in Ukraine heightened uncertainty in the market. Operating revenue declined 9.9% from the previous fiscal year and ordinary income declined 23.0%. Market fluctuation risk was reflected in operating performance for the fiscal year. - FY2022-Q3MaterialisedAnnual report
「Against a backdrop of domestic and overseas share prices lacking clear direction, investors increasingly adopted a wait-and-see stance. As a result, equity brokerage commissions declined 8.3% year on year, while brokerage commissions on beneficiary certificates through ETFs declined 39.9%.」
Domestic and overseas market conditions lacking clear direction and investors' wait-and-see stance were reflected in performance for the nine months ended the third quarter through declines in equity brokerage commissions and ETF beneficiary-certificate brokerage commissions. - FY2022-Q2MaterialisedAnnual report
「Amid an uncertain market outlook in Japan and overseas, investors increasingly adopted a wait-and-see stance. As a result, equity brokerage commissions declined 5.1% year on year, while brokerage commissions on beneficiary certificates through ETFs declined 58.1%.」
An uncertain market outlook and investors' wait-and-see stance were reflected in declines in equity brokerage commissions and ETF beneficiary-certificate brokerage commissions. Operating revenue also declined 8.4% year on year. - FY2022-Q1MaterialisedAnnual report
「However, against a market backdrop lacking clear direction as investors gauged U.S. monetary policy, brokerage commissions and trading income fell below the high levels of the same period of the previous year. Operating revenue declined 12.8% year on year to ¥5,059 million, and net operating revenue declined 12.5% to ¥5,011 million.」
A market environment lacking clear direction was reflected in performance through declines in brokerage commissions and trading income, resulting in year-on-year declines in operating revenue and net operating revenue. The risk that market fluctuations would affect revenue continued to be reflected in results. - FY2021MaterialisedAnnual report
「Amid the unprecedented disaster of the spread of COVID-19, the domestic equity market moved toward recovery on the back of the effects of various policies and the gradual resumption of economic activity. The Nikkei Stock Average closed trading on 31 March at ¥29,178.80, up 54.2% from the end of the previous fiscal year.」
Even amid the COVID-19 pandemic, domestic share prices rose 54.2% from the end of the previous fiscal year, and the impact of market fluctuations was reflected in increased domestic and overseas equity trading and higher operating revenue. - FY2021-Q3MaterialisedAnnual report
「In addition to the contribution from these initiatives, domestic and U.S. equity trading increased against a backdrop of heightened activity in so-called stay-at-home investing and a sharp rise in domestic and overseas share prices accompanying globally accommodative monetary policy. Operating revenue rose 21.3% year on year to ¥17,362 million, while net operating revenue rose 22.1% to ¥17,118 million.」
Sharp rises in domestic and overseas share prices and increased activity in stay-at-home investing were reflected in performance for the nine months ended the third quarter through increased domestic and U.S. equity trading, a 21.3% increase in operating revenue and a 22.1% increase in net operating revenue. - FY2021-Q2MaterialisedAnnual report
「In addition to these initiatives, domestic and U.S. equity trading became more active, mainly supported by rising share prices, causing operating revenue to rise 20.9% year on year to ¥11,403 million and net operating revenue to rise 21.5% to ¥11,237 million.」
Rising share prices and increased activity in domestic and U.S. equity trading were reflected in the securities subsidiary's performance, with operating revenue increasing 20.9% and net operating revenue increasing 21.5%. - FY2021-Q1MaterialisedAnnual report
「Supported by rising share prices, domestic and U.S. equity trading became more active, causing operating revenue to rise 25.1% year on year to ¥5,868 million and net operating revenue to rise 25.9% to ¥5,795 million.」
Even amid the COVID-19 pandemic, rising share prices and increased activity in domestic and U.S. equity trading were reflected in the securities subsidiary's operating performance, with operating revenue and net operating revenue increasing year on year. - FY2020MaterialisedAnnual report
「In addition to U.S.-China trade tensions and the UK's withdrawal from the EU, the spread of COVID-19 strengthened investors' risk-averse stance, among other factors, causing operating revenue to decline 10.7% from the previous fiscal year to ¥18,935 million and net operating revenue to decline 11.3% to ¥18,556 million.」
A risk-averse stance resulting from overseas developments and the spread of COVID-19 was reflected in declines in the securities subsidiary's operating revenue and net operating revenue. - FY2020-Q3MaterialisedAnnual report
「Amid a stronger risk-averse stance among investors against a backdrop of overseas uncertainty, including escalating U.S.-China trade tensions, operating revenue declined 10.6% year on year to ¥14,317 million, while net operating revenue declined 11.3% to ¥14,015 million.」
A stronger risk-averse stance among investors against a backdrop of overseas uncertainty, including U.S.-China trade tensions, resulted in Iwai Cosmo Securities' operating revenue declining 10.6% year on year and net operating revenue declining 11.3%. The impact of market conditions was reflected in operating performance for the nine months ended the third quarter. - FY2020-Q2MaterialisedAnnual report
「However, against a backdrop of uncertainty originating overseas, including escalating U.S.-China trade tensions, investors became more risk averse, and operating revenue declined 13.3% year on year to ¥9,430 million, while net operating revenue declined 13.8% to ¥9,247 million.」
Uncertainty originating overseas, including U.S.-China trade tensions, strengthened investors' risk-averse stance, and Iwai Cosmo Securities' operating revenue declined 13.3% year on year, while net operating revenue declined 13.8%. The impact of market conditions was reflected in operating performance for the second quarter. - FY2020-Q1MaterialisedAnnual report
「Amid challenging conditions, with investors' risk-averse stance strengthening against a backdrop of rising uncertainty in overseas economies, including escalating U.S.-China trade tensions, operating revenue declined 13.2% year on year to ¥4,689 million, and net operating revenue declined 13.7% to ¥4,603 million.」
Greater uncertainty in overseas economies and a stronger risk-averse stance among investors were reflected in the securities subsidiary's operating revenue, which declined 13.2% year on year, and net operating revenue, which declined 13.7%. The impact of market conditions was reflected in operating performance for the quarter. - FY2019MaterialisedAnnual report
「Meanwhile, as the domestic equity market remained sluggish, closer coordination between the Investment Research Department and the sales divisions increased the handling of foreign equities. As a result, operating revenue rose 0.7% year on year to ¥21,208 million, and net operating revenue rose 1.3% to ¥20,923 million.」
The weakness of the domestic equity market affected domestic trading conditions, while the increase in foreign-equity transactions was reflected in operating performance, indicating that the impact of market fluctuations continued to be reflected in results for the period. - FY2019-Q3MaterialisedAnnual report
「Under these initiatives, the Company's domestic equity commission trading fell below the results for the same period of the previous year, reflecting the highly range-bound market environment, with the Nikkei Stock Average generally in the ¥22,000 range from mid-April to early September. However, trading in U.S. equities became more active as stock prices rose in the first half of the fiscal year, and mutual fund sales also exceeded those of the same period of the previous year. The initial public offering of SoftBank Corp. in a large transaction also contributed to higher revenue, resulting in operating revenue of ¥16,018 million, up 4.2% year on year, and net operating revenue of ¥15,798 million, up 5.0%.」
Domestic equity brokerage fell below the same period of the previous year amid stagnant domestic equity markets, while U.S. equity trading, investment trust sales and the initial public offering of SoftBank Corp. contributed to revenue. The impact of market conditions continues to be reflected in trading activity by product, both domestically and overseas, and in operating performance. - FY2019-Q2MaterialisedAnnual report
「Amid these initiatives, domestic equity commission trading was sluggish as the domestic equity market remained range-bound, with the Nikkei Stock Average generally in the ¥22,000 range from mid-April to early September. However, trading in U.S. equities increased substantially against a backdrop of rising U.S. stock prices, and mutual fund sales also exceeded the results for the same period of the previous year. As a result, operating revenue rose 11.1% year on year to ¥10,874 million, and net operating revenue rose 11.6% to ¥10,727 million.」
While the domestic equity market's lack of direction appeared as sluggish domestic equity commission trading, operating revenue and net operating revenue increased year on year due to rising U.S. stock prices and increased mutual fund sales. - FY2019-Q1MaterialisedAnnual report
「In the domestic equity market, the Nikkei Stock Average remained generally in the ¥22,000 range for more than 2 months, resulting in limited upside, and domestic equity commission trading was sluggish. However, trading profits from market-making in U.S. equities remained strong and mutual fund sales increased, which were the primary reasons operating revenue rose 10.5% year on year to ¥5,404 million and net operating revenue rose 10.9% to ¥5,332 million.」
While limited upside in the domestic equity market appeared as sluggish domestic equity commission trading, operating revenue and net operating revenue increased year on year due to higher trading profits from U.S. equities and increased mutual fund sales. The impact of market conditions continued to appear in results. - FY2018MaterialisedAnnual report
「Amid favorable market conditions, including rising Japanese and U.S. stock prices, operating revenue increased 30.7% from the previous fiscal year to ¥21,053 million, and net operating revenue increased 31.2% to ¥20,647 million, primarily because trading profits from market-making in U.S. equities increased substantially.」
Changes in market conditions, including rising Japanese and U.S. stock prices, appeared in results as increases in trading profits from U.S. equities and in operating revenue and net operating revenue. - FY2018-Q3MaterialisedAnnual report
「In addition to these initiatives, favorable market conditions, including rising Japanese and U.S. stock prices, resulted in operating revenue of ¥15,398 million, up 31.8% year on year, and net operating revenue of ¥15,049 million, up 32.3%.」
Favorable market conditions, including rising Japanese and U.S. stock prices, appeared in results as increases of 31.8% in operating revenue and 32.3% in net operating revenue. - FY2018-Q2MaterialisedAnnual report
「In addition to these initiatives, favorable market conditions, including rising Japanese and U.S. stock prices, resulted in operating revenue of ¥9,791 million, up 32.8% year on year, and net operating revenue of ¥9,608 million, up 33.5%.」
The market environment, including rising Japanese and U.S. stock prices, appeared in the securities business's results as increases of 32.8% in operating revenue and 33.5% in net operating revenue. - FY2018-Q1MaterialisedAnnual report
「In addition to these initiatives, favorable market conditions, including rising domestic and overseas stock prices, provided support, resulting in operating revenue of ¥4,892 million, up 26.9% year on year, and net operating revenue of ¥4,807 million, up 27.5%.」
The change in market conditions, including rising domestic and overseas stock prices, appeared in the quarter's results as increases in operating revenue and net operating revenue. - FY2017-Q3MaterialisedAnnual report
「Although the revenue environment has recently improved against a backdrop of the effects of these initiatives and rising stock prices since November, operating revenue was ¥11,657 million, down 22.4% year on year, and net operating revenue was ¥11,377 million, down 22.6%, below the results for the same period of the previous year due to sluggish conditions from the first half through the middle of the fiscal year.」
While the recent revenue environment improved as stock prices rose from November onward, the securities subsidiary's operating revenue fell 22.4% year on year due to sluggish conditions from the first half through the middle of the fiscal year, with the impact of market conditions continuing to appear in results. - FY2017-Q2MaterialisedAnnual report
「However, amid largely directionless stock price movements since mid-July, trading by individual investors, the principal market participants, was sluggish. Operating revenue was ¥7,374 million, down 28.3% year on year, and net operating revenue was ¥7,197 million, down 28.4%.」
Against a backdrop of largely directionless stock price movements and sluggish trading by individual investors, operating revenue fell 28.3% year on year and net operating revenue fell 28.4%, with the impact of market fluctuations continuing to appear in results. - FY2017-Q1MaterialisedAnnual report
「However, against a backdrop of declining stock prices since December of the previous year, the weaker sentiment of individual investors, the principal market participants, resulted in operating revenue of ¥3,854 million, down 28.5% year on year, and net operating revenue of ¥3,769 million, also down 28.5%.」
Against a backdrop of falling stock prices and weaker investment appetite among individual investors, the securities business's operating revenue and net operating revenue fell 28.5% year on year, showing the impact of market fluctuations in actual results. - FY2016First statedAnnual report
「The Group's principal business, the financial instruments business, is susceptible to economic conditions. Depending on trends in stock prices, trading volume and trading value in the stock market, the Group's revenue may decline, affecting its operating results and financial position. Assuming all other risk variables remain constant, if the prices of domestic and overseas listed shares and stock price indices (collectively, "stock prices, etc.") at the end of March 2016 rose by 10%, the net amount of the relevant financial assets on the asset side was estimated to increase by ¥831 million. Conversely, if stock prices, etc. fell by 10%, the net amount of the relevant financial assets on the asset side was estimated to decrease by ¥831 million.」
The company recognizes market fluctuations as a factor affecting revenue and estimates the impact on the net asset-side amount at ¥831 million for a 10% change in stock prices, etc.