YUTAKA TRUSTY SECURITIES CO., LTD.
8747・Standard Market・Securities & Commodity Futures
YUTAKA TRUSTY SECURITIES CO., LTD.
8747・Standard Market・Securities & Commodity Futures
Business
YUTAKA TRUSTY SECURITIES CO., LTD. is a securities company founded in 1957 specializing in commodity derivatives trading (listed on the TSE Standard Market, securities code: 8747). Its core business centers on commodity futures trading in precious metals, energy, and agricultural products on the Osaka Exchange, Tokyo Commodity Exchange, and Dojima Exchange, alongside Exchange Stock Index Margin Trading "Yutaka CFD", Exchange Foreign Exchange Margin Trading "Yutaka24", and Stock Index Futures Trading (Nikkei 225 futures). The company serves both individual investors and corporate industry participants as clients, operating brokerage and proprietary trading businesses in an integrated manner. It operates as a three-company group, with subsidiary Yutaka Asset Trading Co., Ltd. handling proprietary trading operations and Yutaka Estate Co., Ltd. managing real estate such as training facilities.
Business Model
The primary revenue source is commissions received from customers, which accounted for ¥12,510 million (96.3% of operating revenue) in FY2026 (ending March 2026). The commodity derivatives trading business constitutes approximately 87% of commission income, while the financial instruments trading business constitutes approximately 13%. In addition, trading gains/losses from proprietary trading (¥198 million) function as a supplementary revenue source. The structure is such that trading volume increases as market volatility rises, expanding commission income.
Company Strengths
In FY2026 (ending March 2026), precious metals market receiving commissions totaled ¥10,782 million (up 84.2% year on year), accounting for approximately 99% of domestic commodity derivatives trading commission income of ¥10,888 million. Gold (standard trading) brokerage trading volume stood out at 724,211 lots (53.0% of total brokerage trading volume), with the specialized expertise, sales capability, and information provision capability in the precious metals field cultivated since the company's founding in 1957 underpinning its customer base.
In addition to commodity futures on the Osaka Exchange, Tokyo Commodity Exchange, and Dojima Exchange, the company holds a wide range of trading qualifications, including Exchange Foreign Exchange Margin Trading and Exchange Stock Index Margin Trading on the Tokyo Financial Exchange, and Stock Index Futures Trading on the Osaka Exchange (commenced January 2022). This product lineup, which does not depend on a single market environment, contributes to revenue diversification.
In FY2026 (ending March 2026), the company achieved operating income of ¥6,284 million (48.5% of net operating revenue) and profit attributable to owners of parent of ¥4,424 million (return on equity of 27.7%). With selling, general and administrative expenses of ¥6,684 million against net operating revenue of ¥12,969 million, the cost-to-revenue leverage is high, demonstrating a proven ability to expand profits during periods of rising volatility.
ENVALITH's Perspective
Performance Trend
Operating revenue continued a moderate growth trend, rising from ¥6,716 million in FY2022 to ¥6,875 million in FY2023, ¥7,402 million in FY2024, and ¥7,662 million in FY2025, before sharply accelerating to ¥12,991 million in FY2026, up 69.6% year on year. Operating income also surged to ¥6,285 million (up 203.0% year on year), and net income attributable to owners of the parent reached ¥4,424 million (up 131.0% year on year), substantially exceeding previous record highs. External performance drivers included gold prices reaching a record high (NY market at $5,586.2), a sharp surge in crude oil (NY crude at $119.48), and significant fluctuations in the yen/dollar rate (from below the ¥140 level to the ¥160 level), which pushed up brokerage commissions received to ¥12,511 million (up 66.0% year on year). Net income per share improved to ¥779.11 (from ¥343.86 in the previous fiscal year), and net assets per share improved to ¥3,196.05 (from ¥2,440.62 in the previous fiscal year). Dividends were substantially increased to ¥210 (from ¥86 in the previous fiscal year), maintaining a dividend payout ratio of 27.0%.
Growth Strategy
Strengthening the product lineup and maintaining/expanding the customer base based on the medium-term vision
As a pillar of the new medium-term vision, the company aims to acquire trading qualification on the Tokyo Stock Exchange and enter the cash securities market for stocks, ETFs, and similar products. This is expected to enable a shift away from reliance on commodity derivatives as a single revenue pillar and to diversify earnings, though the specific timing of qualification acquisition has not been disclosed.
The company positions Exchange Stock Index Margin Trading "Yutaka CFD" and Exchange Foreign Exchange Margin Trading "Yutaka24" as its core revenue base, and is working to maintain and strengthen its customer base. Deposited margin at the end of FY2026 (ending March 2026) expanded to ¥171,623 million, approximately 2.9 times the level at the end of the previous fiscal year, indicating progress in asset acquisition.
As indicated by the litigation loss provision balance of ¥129 million, responding to commodity trading accident risk remains an ongoing challenge. The medium-term vision explicitly calls for further strengthening of compliance and risk management, aiming to balance the maintenance of customer trust with regulatory compliance.
The company continues to actively invest in human resources, with personnel expenses of ¥4,501 million (compared to ¥3,581 million in the previous fiscal year). The significant increase in the bonus provision to ¥392 million (from ¥175 million in the previous fiscal year) reflects the expansion of performance-linked compensation, aiming to strengthen sales capabilities through the recruitment and retention of talented personnel.
Last updated: July 19, 2026