Worth reading
53Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
37
% (year-on-year change in operating revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFirst quarter of the fiscal year ending March 20279 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥5,812 million+37.0%
Operating profit¥238 million
Ordinary income¥447 million
Net income1,054 JPY millions +730.4%net income attributable to owners of the parent
Selling, general and administrative expenses¥5,444 million
Results for the three months of the current quarterOperating revenue: ¥5,812 million; selling, general and administrative expenses: ¥5,444 million; operating income: ¥238 million; ordinary income: ¥447 million; income before income taxes: ¥1,297 million; net income attributable to owners of the parent: ¥1,054 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Securities business operating revenue+¥1,586 million
- Financial advisor+¥638 million
- Platform business+¥838 million
- Investment Business-¥17 million
- Asset management business-¥2 million
- Other operating expenses-¥546 million
- Personnel expenses-¥278 million
- Fees paid-¥544 million
- Other selling, general and administrative expenses-¥46 million
- Extraordinary Gains and Losses+¥123 million
- Income taxes and other-¥29 million
- Profit attributable to non-controlling interests-¥19 million
New initiatives
- Roll out goal-based approach (GBA) sales across all branches from April 2026
- Review and approve the contracting process for the GBA-based wrap service “Smile Goal” and the GBA-based investment trust portfolio “α Port” to improve the quality of transactions
Key KPIsA metric the company considers important as a management benchmark.
- ROE (annualized)8.8 %
- PBR0.97 times
- Assets under custody in stock products¥6,792 billionYear on year against the same period last year+45.2%
- Total assets under custody¥26,170 billionYear on year against the same period last year+24.8%
- Coverage ratio of SG&A expenses by net recurring revenue from stock products39.8 %
- Number of GBA consultations6,005 registrations
- Number of GBA contracts1,563 registrations
Segment results
Securities Business
Operating revenue
¥5,660 million+38.9%
Income before taxes
¥474 million
Investment Business
Operating revenue
¥150 million-10.6%
Income before taxes
¥574 million-23.0%
Asset management business
Operating revenue
¥40 million-5.6%
Income before taxes
¥-65 million
Group headquarters and other
Operating revenue
¥-38 million
Income before taxes
¥314 million
Medium-term management plan targets
- TargetTransform the business and earnings structure to consistently achieve ROE of 8% or higherTarget fiscal yearFiscal year ending March 2028
- TargetTotal assets under custody of ¥2.5 trillion or moreActual results¥2.617 trillion at the end of FY2027 Q1
- TargetAssets under custody in stock products of ¥800 billion or moreActual results¥679.2 billion at the end of FY2027 Q1
Financial targets
- ROETargetAt least 8%Actual results8.8% (FY2027 Q1 profit annualized)
- PBRTarget1xActual results0.97 times
Annual Dividend
Fiscal year ending March 2027Undecided (both interim and year-end dividends undecided)
Fiscal year ending March 2028¥70 planned (¥35 interim and ¥35 year-end, both planned as regular dividends)
Payout ratio
Total payout ratio of 50% or higher, exceeding a DOE of approximately 2%Acquisition of treasury shares
As a historical result, 6,163,900 shares were repurchased in the fiscal year ended March 2025 for a total acquisition price of ¥10,775,065,200. The repurchase limit for the current fiscal year is Not disclosed| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥5,812 million (YoY +37.0%) |
| Operating profit | ¥238 million |
| Ordinary income | ¥447 million |
| Net income | 1,054 JPY millions (net income attributable to owners of the parent) (YoY +730.4%) |
| Selling, general and administrative expenses | ¥5,444 million |
| Results for the three months of the current quarter | Operating revenue: ¥5,812 million; selling, general and administrative expenses: ¥5,444 million; operating income: ¥238 million; ordinary income: ¥447 million; income before income taxes: ¥1,297 million; net income attributable to owners of the parent: ¥1,054 million |
| Segment results | Securities Business Operating revenue ¥5,660 million (YoY +38.9%) / Income before taxes ¥474 million / Investment Business Operating revenue ¥150 million (YoY -10.6%) / Income before taxes ¥574 million (YoY -23.0%) / Asset management business Operating revenue ¥40 million (YoY -5.6%) / Income before taxes ¥-65 million / Group headquarters and other Operating revenue ¥-38 million / Income before taxes ¥314 million |
| Breakdown of Factors Affecting the Change | Factors Securities business operating revenue / Amount +¥1,586 million, Factors Financial advisor / Amount +¥638 million, Factors Platform business / Amount +¥838 million, Factors Investment Business / Amount -¥17 million, Factors Asset management business / Amount -¥2 million, Factors Other operating expenses / Amount -¥546 million, Factors Personnel expenses / Amount -¥278 million, Factors Fees paid / Amount -¥544 million, Factors Other selling, general and administrative expenses / Amount -¥46 million, Factors Extraordinary Gains and Losses / Amount +¥123 million, Factors Income taxes and other / Amount -¥29 million, Factors Profit attributable to non-controlling interests / Amount -¥19 million |
| Key KPIs | Indicator name ROE (annualized) / Value 8.8 % / Year on year against the same period last year Not disclosed, Indicator name PBR / Value 0.97 times / Year on year against the same period last year Not disclosed, Indicator name Assets under custody in stock products / Value ¥6,792 billion / Year on year against the same period last year ¥45.2 billion, Indicator name Total assets under custody / Value ¥26,170 billion / Year on year against the same period last year ¥24.8 billion, Indicator name Coverage ratio of SG&A expenses by net recurring revenue from stock products / Value 39.8 % / Year on year against the same period last year Not disclosed, Indicator name Number of GBA consultations / Value 6,005 registrations / Year on year against the same period last year Not disclosed, Indicator name Number of GBA contracts / Value 1,563 registrations / Year on year against the same period last year Not disclosed |
| Medium-term management plan targets | Target Transform the business and earnings structure to consistently achieve ROE of 8% or higher / Target fiscal year Fiscal year ending March 2028, Target Total assets under custody of ¥2.5 trillion or more / Target fiscal year Not disclosed / Actual results ¥2.617 trillion at the end of FY2027 Q1, Target Assets under custody in stock products of ¥800 billion or more / Target fiscal year Not disclosed / Actual results ¥679.2 billion at the end of FY2027 Q1 |
| Financial targets | Indicator ROE / Target At least 8% / Actual results 8.8% (FY2027 Q1 profit annualized), Indicator PBR / Target 1x / Actual results 0.97 times |
| Annual Dividend | Fiscal year ending March 2027 Undecided (both interim and year-end dividends undecided) / Fiscal year ending March 2028 ¥70 planned (¥35 interim and ¥35 year-end, both planned as regular dividends) |
| Payout ratio | Total payout ratio of 50% or higher, exceeding a DOE of approximately 2% |
| Acquisition of treasury shares | As a historical result, 6,163,900 shares were repurchased in the fiscal year ended March 2025 for a total acquisition price of ¥10,775,065,200. The repurchase limit for the current fiscal year is Not disclosed |
| New initiatives | Roll out goal-based approach (GBA) sales across all branches from April 2026, Review and approve the contracting process for the GBA-based wrap service “Smile Goal” and the GBA-based investment trust portfolio “α Port” to improve the quality of transactions |
Items this document does not state (14)
Gross Profit MarginOperating profit marginFull-year earnings forecastProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Operating revenue increased due to higher equity brokerage commissions, trust fees and performance fees from wrap products. Growth in assets under custody in stock products and favorable market conditions also contributed, while extraordinary gains, including gains on the sale of investment securities, boosted net income. Meanwhile, selling, general and administrative expenses increased due to higher personnel expenses and commission expenses.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.