Traders Holdings (8704) Q1 2026 earnings summary

Executive summary

• Launched "LIGHT Pairs" in Minna-no FX, achieving industry-leading spreads and swaps, driving a record 9.0 billion yen increase in assets under custody in 1Q FY 2026/3 compared to the previous quarter.

• Operating revenue and profit declined year-over-year due to reduced market volatility and limited FX rate fluctuations, despite growth in customer assets and accounts.

• System development and consulting business saw a 35.1% increase in external customer revenue, but overall segment profit declined.

• High fixed cost structure led to a larger decline in operating income than in revenue.

Financial highlights

• 1Q FY 2026/3 operating revenue: 3,018 million yen, down 14.1% year-over-year; operating profit: 1,395 million yen, down 32.1%; net income: 1,079 million yen, down 27.3%.

• Assets under custody reached 121.3 billion yen at June 30, 2025, up 9.0 billion yen from March 31, 2025.

• Total assets increased to 133,144 million yen, up 8,095 million yen from the previous fiscal year-end.

• Net assets decreased to 17,158 million yen, mainly due to dividend payments and treasury stock repurchases.

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

Outlook and guidance

• FY 2026/3 full-year forecast: operating revenue 14,700 million yen, operating income 7,000 million yen, net income 4,800 million yen, assets under custody target 130 billion yen, EPS 176.09 yen.

• No revision to earnings forecast; focus remains on increasing assets under custody and recovering the shortfall from the previous year.