Matsui Securities Co (8628) Q3 2026 earnings summary

Executive summary

• Operating revenues for 3Q FY2025 rose 26% year-over-year to JPY 37,293 million, with net income up 31% to JPY 11,069 million and ordinary income up 36% to JPY 16,905 million.

• Quarterly results showed operating revenues up 8% and net income up 24% sequentially from 2Q FY2025.

• Brokerage trading value increased 26% year-over-year, reflecting strong engagement from individual investors amid favorable market conditions.

• Trading value increased 26% year-over-year, while average margin balance declined 5% over the same period.

• Net operating revenues for 3Q FY2025 were JPY 34,952 million, up 23% year-over-year.

Financial highlights

• Commissions received grew 19% year-over-year, with brokerage and equity/ETF commissions up 20% and 21%, respectively.

• Net trading income surged 45% year-over-year, mainly from FX trading gains; net interest income rose 24%.

• SG&A expenses increased 16% year-over-year, mainly due to higher trading-related, advertising, and personnel costs.

• Basic earnings per share were ¥42.98, up from ¥32.94 year-over-year.

• Net financial revenue increased 23.6% to ¥12,451 million, supported by higher profit distribution on segregated deposits.

Outlook and guidance

• Focus on expanding product lineup, including forex and U.S. stocks, and enhancing service quality and customer support.

• Continued investment in brand recognition and digital content to attract and retain customers.

• No earnings forecast issued due to the high sensitivity of business results to market conditions; major business information is disclosed monthly.