OKASAN SECURITIES GROUP INC.
8609・Prime Market・Securities & Commodity Futures
Business
Okasan Securities Group Co., Ltd. is a long-established comprehensive securities group founded in 1923, which transitioned to a holding company structure in 2003. Anchored by its core subsidiary Okasan Securities Co., Ltd., the group encompasses multiple domestic securities firms including Okasan Niigata Securities, Securities Japan, Sanen Securities Wealth Management, and Sanko Securities, with securities trading, brokerage, underwriting, and offering solicitation as its core operations. Centered on face-to-face consulting for individual high-net-worth clients, it addresses diverse asset management needs through an IFA (Independent Financial Advisor) intermediary platform, the banking service "Okasan BANK," and the fund wrap product "Okasan UBS Fund Wrap," among others. The company is listed on the Prime Market of the Tokyo Stock Exchange.
Business Model
Revenue consists of three categories: commissions received (brokerage commissions, underwriting commissions, investment trust handling fees, trust fees, etc.), trading gains/losses, and net financial income. In FY2026 (ending March 2026), commissions received totaled ¥63,341 million (66% of operating revenue), trading gains/losses totaled ¥21,721 million, and net financial income totaled ¥4,853 million. The company aims to build a revenue base less susceptible to market fluctuations by expanding stock-type revenue such as trust fees from investment trusts, and by promoting asset management-type businesses utilizing Okasan BANK and fund wraps.
Company Strengths
Centered on Okasan Securities, the company has built a multi-layered group network comprising San-en Securities Wealth Management (already converted to IFA and the largest of its kind domestically), Securities Japan (which expanded its Tohoku presence by making Yamagata Securities a subsidiary), and the middle- and back-office infrastructure provided by Okasan Business & Technology. Including support for external securities firms converting to the IFA model, the company holds a unique competitive advantage as a platform that draws in other firms.
Other commissions received, mainly consisting of trust fees on investment trusts, expanded to ¥15,352 million (up 24.7% year on year), while offering and secondary distribution handling fees grew to ¥16,743 million (up 23.7% year on year). Through asset management-type businesses leveraging Okasan Bank and the Okasan-UBS Fund Wrap, the company has built a track record of accumulating a stock-type revenue base that moves away from dependence on flow commissions.
Net income attributable to owners of the parent for FY2026 (ending March 2026) reached a record high of ¥21,360 million, with ROE rising to 9.7% (up 4.0 percentage points year on year), exceeding the mid-term management plan target of 8%. Operating revenue reached ¥95,595 million (up 16.7% year on year) and ordinary profit reached ¥22,867 million (up 46.8% year on year), marking high levels for both revenue and profit.
ENVALITH's Perspective
Performance Trend
Operating revenue reached ¥95,595 million (up 16.7% year on year), operating profit reached ¥18,730 million (up 45.9%), and profit attributable to owners of the parent reached ¥21,360 million (up 83.3%), all renewing record highs. As an external factor, the average daily trading volume on the Tokyo Stock Exchange rose 24.9% year on year amid favorable stock market conditions, pushing brokerage commissions up 28.3%, while rising domestic interest rates expanded the financial balance to ¥4,853 million (up 50.9%). Overall commission income also grew steadily by 26.2%. Following an operating loss of ¥1,034 million in FY2023, performance has continued to improve for three consecutive fiscal years, with the operating margin for FY2026 rising to 19.6% (from 15.7% in the previous fiscal year). Comprehensive income expanded significantly to ¥30,004 million from ¥8,532 million in the previous fiscal year, and net assets also increased to ¥230,972 million (from ¥208,232 million in the previous fiscal year).
Growth Strategy
Three pillars: advancing the Securities Platform Business, expanding asset-management-based businesses, and strengthening digital strategy
Building a platform that provides all functions necessary for the Securities Business. The conversion of San-en Securities Wealth Management into the largest domestic financial instruments intermediary and the launch of Okasan Business & Technology (through integration of two subsidiaries) have consolidated functions within the group and strengthened the platform offered externally.
Utilizing various solutions such as Okasan BANK and Okasan-UBS Fund Wrap to build up stable, balance-linked revenue. Other fees received (trust fees, etc.) increased 24.7% year on year to ¥15,352 million, contributing to improved revenue stability.
Okasan Securities is introducing a newly self-developed sales support and customer management system and launching the smartphone app "OKASAN Plus." By integrating digital and face-to-face channels, the company aims to strengthen customer touchpoints and improve sales efficiency and customer satisfaction.
Shoken Japan's acquisition of Yamagata Securities as a subsidiary expands regional operations in the Tohoku region. The aim is to expand the customer base through a regionally rooted, wide-area network and to contribute to earnings through group synergies.
The policy is to pay total special dividends of ¥10 billion or more in each fiscal year from FY2026 (ending March 2026) through FY2028 (ending March 2028). For FY2026 (ending March 2026), the dividend per share is ¥50 (ordinary dividend of ¥40 plus special dividend of ¥10), with total dividends of ¥10,003 million. Share buybacks will also continue, with a total payout ratio of 50% or more set as the target metric.
Last updated: July 19, 2026