Intensifying Competition from Online Brokerages and Banks
First written in FY2016. 4 of 6 entries say "Restated". Latest entry: FY2022-Q3.
The whole theme swung hardest in 2022: 3 of 10 companies on the "Worse" side.
6 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「The financial industry in which our group operates is facing intense competition. The spread of COVID-19 has required a transformation of the traditional sales model centered on face-to-face visits, while the industry has also seen moves led by online securities companies to reduce commissions and a succession of entries into the securities business by IFA operators and companies from other industries.」
It reconfirms the transformation of face-to-face sales, lower commissions at online securities firms and intensified competition from the entry of IFA operators and companies from other industries as the background to transitioning to a holding company structure. - FY2022-Q2RestatedAnnual report
「The financial industry in which our group operates is facing intense competition. The spread of COVID-19 has required a transformation of the traditional sales model centered on face-to-face visits, while the industry has also seen moves led by online securities companies to reduce commissions and a succession of entries into the securities business by IFA operators and companies from other industries.」
It continues to identify the transformation of face-to-face sales, lower commissions at online securities firms and intensified competition from the entry of IFA operators and companies from other industries as reasons for transitioning to a holding company structure. - FY2022-Q1RestatedAnnual report
「The financial industry in which our group operates is facing intense competition. The spread of COVID-19 has required a transformation of the traditional sales model centered on face-to-face visits, while the industry has also seen moves led by online securities companies to reduce commissions and a succession of entries into the securities business by IFA operators and companies from other industries.」
It continues to recognize lower commissions at online securities firms and intensified competition from the entry of IFA operators and companies from other industries as reasons for transitioning to a holding company structure. - FY2021WorsenedAnnual report
「The industry is also facing intense competition, including moves led by online securities companies to reduce commissions and a succession of entries into the securities business by IFA operators and companies from other industries.」
In addition to the traditional presence of online securities firms and entry by banks, it identifies commission reductions and entry by IFA operators and companies from other industries, describing the increasingly challenging competitive environment in greater detail. - FY2017RestatedAnnual report
「In particular, the operating environment surrounding the industry has tended to become increasingly challenging in recent years, owing to the rise of financial instruments business operators specializing in online trading and the lifting of the ban on banks acting as intermediaries for financial instruments businesses.」
It continues to identify the challenging competitive environment resulting from the rise of online operators and entry by banks as a risk. - FY2016First statedAnnual report
「In particular, the operating environment surrounding the industry has tended to become increasingly challenging in recent years, owing to the rise of financial instruments business operators specializing in online trading and the lifting of the ban on banks acting as intermediaries for financial instruments businesses.」
It indicates that the competitive environment has become more challenging due to the rise of online-only operators and entry by banks.