Monex Group (8698) Q3 2026 earnings summary

Executive summary

• Consolidated quarterly profit attributable to owners was ¥3.5B for 3Q FYE Mar. 2026, driven by online brokerage and asset management businesses; profit attributable to owners for the nine months ended Dec. 31, 2025, was ¥8,012M, reversing a prior loss.

• Revenue for the nine months ended Dec. 31, 2025, rose 12.1% year-over-year to ¥62,288M, with profit before income taxes at ¥12,663M.

• Strategic alliances and acquisitions, including partnerships with NTT DOCOMO and Sumishin SBI Net Bank, and the acquisition of Aplo SAS, strengthened the business base and group synergies.

• 3iQ launched a new fund with Further Asset Management, and AUM at Monex Asset Management exceeded ¥1 trillion.

• Comprehensive income improved to ¥12,086M from a loss of ¥6,280M year-over-year.

Financial highlights

• Total operating revenue after deducting financial expenses and cost of sales rose 2% QoQ to ¥19,468M; profit attributable to owners increased 29% QoQ to ¥3,463M.

• Adjusted EBITDA for the quarter was ¥6,547M, and adjusted profit after tax was ¥4,143M.

• Adjusted ROE reached 13%, while non-adjusted ROE was 11%.

• Total assets increased to ¥764,879M as of Dec. 31, 2025, with equity attributable to owners at ¥123,892M and a ratio to total assets of 16.2%.

• Basic earnings per share for the period was ¥31.86, compared to a loss per share of ¥22.72 in the prior year.

Outlook and guidance

• The company targets an ROE of 15% and continues to promote growth investment and sustainable profit growth.

• No earnings forecast disclosed due to the significant impact of economic and market conditions on business performance.

• Forecast dividend per share for FYE Mar. 2026 is ¥15.30 (total ¥30.60), with a minimum annual dividend policy and share buybacks as appropriate.

• Dividend policy maintains a minimum annual dividend of ¥30 per share, with potential for higher payout if 50% of profit per share exceeds this amount.