GMO Financial Holdings (7177) Q3 2025 earnings summary

Executive summary

• Operating revenue for Q3 YTD decreased 5% year-over-year to ¥38,413 million, with all profit stages reaching record highs for the nine-month period.

• Operating profit surged 57.7% to ¥13,691 million, and net profit attributable to shareholders rose 153.9% to ¥8,910 million, both record highs for a third quarter cumulative period.

• FX business maintained steady growth in trading accounts and margin deposits; crypto asset business continued to strengthen stock-type services.

• Shareholder returns enhanced with a target payout ratio of 65%+; Q3 dividend per share was ¥14.87.

• The previous year included a one-time provision for bad debts related to the Thailand securities business, impacting year-over-year profit comparisons.

Financial highlights

• Operating revenue for Q3 YTD: ¥38,413 million, down 5% year-over-year; net operating revenue: ¥35,546 million, down 4.8%.

• Operating profit: ¥13,691 million, up 57.7% year-over-year (record high for nine months); ordinary profit: ¥12,855 million, up 61.1% year-over-year.

• Net profit attributable to shareholders: ¥8,910 million, up 153.9% year-over-year; EPS: ¥75.52.

• Total assets: ¥1,486,530 million; net assets: ¥52,600 million.

• Q3 (July–September) saw sequential declines in revenue and profit due to lower FX/CFD income.

Outlook and guidance

• Focus on maximizing core business earnings and diversifying the business portfolio.

• No consolidated earnings forecast disclosed due to high sensitivity to economic and market conditions in the securities, FX, and crypto asset businesses.

• Key monthly business indicators such as FX trading volume, stock brokerage commissions, CFD trading, crypto trading, and customer accounts are disclosed instead.

• Strengthening FX service convenience and marketing to expand customer base.

• Enhancing cross-selling between securities and FX, and reinforcing stock-type crypto products for stable income.