Maruhachi Securities Co., Ltd.
8700・Standard Market・Securities & Commodity Futures
Investment & Financial Services (Maruhachi Securities single segment)
A face-to-face, community-based securities company rooted in Aichi Prefecture, providing asset management services
| Period | Current | Previous | Change |
|---|---|---|---|
| Operating Revenue | ¥3,576 million | ¥3,082 million | ↑ |
| Net Operating Revenue | ¥3,560 million | ¥3,077 million | ↑ |
| Operating Income | ¥739 million | ¥441 million | ↑ |
| Ordinary Income | ¥1,006 million | ¥599 million | ↑ |
| Net Income | ¥684 million | ¥392 million | ↑ |
| Commissions Received | ¥2,718 million | ¥2,248 million | ↑ |
| Net Income per Share | ¥171.40 | ¥98.28 | ↑ |
| Net Assets per Share | ¥2,056.71 | ¥1,902.64 | ↑ |
| Capital Adequacy Ratio (Regulatory) | 607.5% | 620.2% | ↓ |
| Equity Ratio | 65.9% | 76.6% | ↓ |
| Total Assets | ¥12,446 million | ¥9,917 million | ↑ |
| Net Assets | ¥8,208 million | ¥7,593 million | ↑ |
| Dividend per Share (Year-End) | ¥100.00 | ¥60.00 | ↑ |
| Dividend Payout Ratio | 58.3% | 61.1% | ↓ |
Business Details
Maruhachi Securities is a Tokyo Stock Exchange-listed regional securities company operating under a single segment, "Investment & Financial Services." Its principal sources of revenue are brokerage intermediation (commission income) in domestic and foreign stocks, investment trusts, bonds, and other securities, proprietary trading, and handling of investment trust offerings and sales. The company's core business pillar is community-based, face-to-face consultative sales, and it also offers services addressing an aging society, such as financial literacy seminars for local companies and municipalities and the "Family Support Securities Account." Tokai Tokyo Financial Holdings holds 43.6% of voting rights and is the parent company under the substantive control criterion.
Recent Overview
In FY2026 (ending March 2026), all profit items increased significantly, with net income up 74.4% year on year to ¥684 million
In FY2026 (ending March 2026) (April 2025 to March 2026), against a backdrop of market conditions in which the average daily trading value on the Tokyo Stock Exchange Prime Market expanded to ¥6,701.5 billion (versus ¥5,063.1 billion in the same period of the prior year), stock brokerage commissions increased significantly to ¥1,757 million (up 42.2% year on year). Total commissions received amounted to ¥2,718 million (up 20.9% year on year). On the other hand, commissions from handling investment trust offerings and sales decreased to ¥596 million (down 15.6% year on year). Selling, general and administrative expenses increased to ¥2,820 million (up 7.0% year on year), but the growth in operating revenue outpaced this increase, resulting in operating income of ¥739 million (up 67.5% year on year) and ordinary income of ¥1,006 million (up 68.0% year on year). The year-end dividend was increased to ¥100 per share (from ¥60 in the prior year). The company formulated a medium-term management plan covering April 2025 to March 2028, setting as key priorities the sophistication of asset management, strengthening of asset formation support, and facilitation of smooth intergenerational asset succession.
Key Products
Growth Drivers
- Significant increase in stock brokerage commissions (up 42.2% year on year) driven by buoyant conditions in the domestic stock market (average daily trading value on the Tokyo Stock Exchange Prime Market rose 32.4% year on year to ¥6,701.5 billion)
- Expansion of other commissions received (up 23.5% year on year) driven by increased trust fees (balance-linked revenue) from investment trusts
- Revenue diversification driven by increased trading gains and losses on stocks and related instruments (up 7.9% year on year)
- Rising demand for individual asset formation and asset management, driven by the spread and expansion of the new NISA system (individual financial assets totaled ¥2,351 trillion as of the end of December 2025)
- Addressing asset succession needs and expanding the customer base through the Family Support Securities Account and gift schemes utilizing securities
- Expansion of the sales base, strengthening of the promotional structure, and stabilization of the revenue structure based on the medium-term management plan covering April 2025 to March 2028
Risks
- Financial instruments business is significantly affected by fluctuations in economic conditions and the market environment, making it difficult to disclose earnings forecasts and resulting in low predictability of revenue
- Risk of volatility in domestic and overseas stock markets due to uncertainty surrounding U.S. trade policy (the market entered an adjustment phase toward the end of the fiscal year, with the Nikkei Average closing at around 51,000 yen)
- Commissions from handling investment trust offerings and sales are trending downward, at ¥596 million (down 15.6% year on year), reflecting instability in flow-based revenue
- Equity ratio declined from 76.6% to 65.9% (mainly due to expansion of total assets from increases in margin trading assets and deposits received)
- Capital adequacy ratio (regulatory) declined from 620.2% to 607.5% (although still well above the regulatory threshold, attention is needed to the increase in risk-equivalent amounts)
- Risk of impact on foreign exchange rates and the stock market from changes in the Bank of Japan's monetary policy (interest rate hikes)
- Risk of labor shortages and shrinkage of the regional customer base due to the declining birthrate and aging population
- Personnel expenses increased to ¥1,554 million (up 10.0% year on year), raising the risk of profit pressure from rising fixed costs
Last updated: June 19, 2026