OKASAN SECURITIES GROUP INC.
8609・Prime Market・Securities & Commodity Futures
Investment & Financial Services (Okasan Securities Group, Single Segment)
A single segment providing asset management services centered on the Securities Business
| Period | Current | Previous | Change |
|---|---|---|---|
| Operating revenue | ¥95,595 million | ¥81,936 million | ↑ |
| Net operating revenue | ¥91,835 million | ¥79,849 million | ↑ |
| Operating income | ¥18,730 million | ¥12,838 million | ↑ |
| Ordinary income | ¥22,867 million | ¥15,577 million | ↑ |
| Net income attributable to owners of parent | ¥21,360 million | ¥11,652 million | ↑ |
| Total commissions received | ¥63,341 million | ¥50,201 million | ↑ |
| Total trading gains and losses | ¥21,721 million | ¥24,572 million | ↓ |
| Net financial income (financial income minus financial expenses) | ¥4,853 million | ¥3,216 million | ↑ |
| Selling, general and administrative expenses | ¥73,105 million | ¥67,010 million | ↑ |
| Return on equity (ROE) | 9.7% | 5.7% | ↑ |
| Equity ratio | 16.5% | 15.1% | ↑ |
| Net assets per share | ¥1,153.57 | ¥1,031.99 | ↑ |
| Net income per share | ¥106.72 | ¥57.62 | ↑ |
| Total assets | ¥1,401,090 million | ¥1,379,738 million | ↑ |
| Net assets | ¥230,972 million | ¥208,232 million | ↑ |
| Dividend per share | ¥50.00 (ordinary dividend ¥40, special dividend ¥10) | ¥30.00 | ↑ |
Business Details
The core business is financial instruments business including trading and brokerage of securities, underwriting and secondary distribution, and handling of public offerings and secondary distributions, with related businesses including management and operation of investment business partnerships, information processing services, administrative outsourcing, and real estate management also being conducted. Centered on the core subsidiary Okasan Securities Co., Ltd., the group provides securities and asset management services to individual and corporate clients through domestic and overseas consolidated subsidiaries and equity-method affiliates. Net income attributable to owners of parent for the full year of FY2026 (ending March 2026) reached a record high.
Recent Overview
Net income attributable to owners of parent reached a record high for the full year of FY2026 (ending March 2026), with ROE also improving significantly to 9.7%
For the full year of FY2026 (ending March 2026), operating revenue was ¥95,595 million (up 16.7% year on year), ordinary income was ¥22,867 million (up 46.8% year on year), and net income attributable to owners of parent was ¥21,360 million (up 83.3% year on year), achieving a record high. Commissions received increased significantly to ¥63,341 million (up 26.2% year on year), while trading gains and losses decreased to ¥21,721 million (down 11.6% year on year). A gain on sale of investment securities of ¥6,450 million was recorded as an extraordinary gain. The dividend was increased to ¥50 per share (ordinary dividend ¥40, special dividend ¥10), with a payout ratio of 46.9%. The company announced a policy of implementing special dividends totaling ¥10 billion or more in each fiscal year from FY2026 (ending March 2026) through FY2028 (ending March 2028). Three consolidated subsidiaries (including Okasan Capital Partners) were excluded from the scope of consolidation.
Key Products
Growth Drivers
- Increase in brokerage trading value against a backdrop of firm domestic stock market conditions (Tokyo Stock Exchange average daily trading volume up 24.9% year on year, brokerage commissions up 28.3%)
- Expansion of commissions received due to strong sales of investment trusts related to AI, electric power, and next-generation industries (up 26.2% year on year)
- Significant improvement in net financial income due to rising domestic interest rates (net financial income of ¥4,853 million, up 50.9% year on year)
- Expansion of the Securities Platform Business (San-en Securities Wealth Management's transition into the largest domestic financial instruments intermediary business operator, launch of Okasan Business & Technology)
- Expansion of regional operations in the Tohoku region and strengthening of the group's revenue base through the consolidation of Yamagata Securities as a subsidiary
- Expansion of recurring revenue through asset management-type businesses utilizing Okasan BANK and the Okasan-UBS fund wrap
- Increase in underwriting commissions due to contributions from large-scale lead-managed IPO and PO deals (up 27.9% year on year)
Risks
- Risk of significant fluctuations in business performance due to changes in market conditions for stocks, bonds, interest rates, and foreign exchange (volatility is high enough that disclosure of earnings forecasts is difficult)
- Deterioration in trading gains and losses on bonds and other securities due to rising domestic interest rates (down 39.3% year on year in FY2026, ending March 2026)
- Downward pressure on trading revenue due to a decrease in trading value of foreign equities on the domestic OTC market (trading gains and losses on stocks and other securities down 5.7% year on year)
- Increase in selling, general and administrative expenses (up 9.1% year on year to ¥73,105 million due to increases in personnel expenses and transaction-related expenses)
- Risk of sudden market fluctuations due to geopolitical risks such as US reciprocal tariff policy and deteriorating conditions in the Middle East
- Pressure to secure earnings in order to maintain the target of a total payout ratio of 50% or more, including special dividends of ¥20 per share in each of FY2027 (ending March 2027) and FY2028 (ending March 2028)
- Changes in the revenue structure due to reorganization of consolidated subsidiaries (exclusion of three companies including Okasan Capital Partners from consolidation)
Last updated: June 19, 2026