Matsui Securities Co (8628) Q3 2025 earnings summary

Executive summary

• Operating revenues for 3Q FY2024 (Apr–Dec) rose 12% year-over-year to JPY 29,698 million, with net income up 21% to JPY 8,479 million.

• Operating profit increased 15.5% year-over-year to JPY 12,476 million, ordinary profit rose 16% to JPY 12,433 million, and net operating revenue was JPY 28,324 million.

• Growth was driven by higher brokerage trading value, increased commissions, and strong FX trading gains.

• Trading value increased 12% year-over-year to JPY 40.7 trillion, and average margin balance grew 12% to JPY 366 billion.

• Initiatives included new marketing campaigns, product enhancements, and expansion of investment information services.

Financial highlights

• Net trading income surged 37% year-over-year, while commissions rose 8%.

• Net financial revenue rose 12.7% to JPY 10,074 million, reflecting higher profit distribution on segregated deposits and margin transaction balances.

• SG&A expenses increased 9% year-over-year, with notable rises in personnel, depreciation, and advertising costs.

• Net operating revenues for the quarter were JPY 8,951 million, down 10% sequentially from 2Q FY2024.

• Basic earnings per share was JPY 32.94, up from JPY 27.33 year-over-year; diluted EPS was JPY 32.88.

Outlook and guidance

• Management is focused on expanding product offerings, enhancing service quality, and building a strong brand to drive future growth.

• Ongoing improvements in UI/UX and customer support are expected to support customer base expansion.

• No earnings forecast provided due to the high dependency on market conditions; monthly business information is disclosed instead.