Mirae Asset Securities (006800) Q1 2026 earnings summary

Executive summary

• Achieved record-high consolidated pre-tax income of KRW 1,357.6 billion and net income of KRW 1,001.9 billion in Q1 2026, up over 228% year-over-year, with consolidated ROE reaching 29.1%.

• Growth was driven by wealth management, pension, overseas subsidiaries, and principal investment gains, notably KRW 804 billion from SpaceX and other innovative companies.

• Brokerage and WM revenues hit all-time highs, supported by strong domestic market activity and increased client assets.

• Maintained robust capital adequacy, with a net capital ratio of 3,524.2% and equity of KRW 14.3 trillion.

• Expanded global business operations, including the acquisition and integration of Sharekhan Limited in India.

Financial highlights

• Total client assets rose from KRW 602 trillion at end-2025 to KRW 660 trillion at Q1-end, now at KRW 776 trillion.

• Brokerage fee revenue reached KRW 459.4 billion, up 38% QoQ; WM fee revenue was KRW 112.5 billion (+17% QoQ).

• Pension assets grew to KRW 64.3 trillion at Q1-end, now over KRW 74 trillion.

• Operating income reached KRW 1,375.0 billion, up from KRW 346.2 billion in the prior year.

• Overseas subsidiaries' pre-tax income was KRW 243.2 billion, up 22% QoQ, accounting for 18% of consolidated pre-tax income.

Outlook and guidance

• WM and pension net operating revenue expected to reach KRW 8.2 trillion by 2030 if current growth continues.

• Plans to launch global MTS in Hong Kong in June 2026 and pursue U.S. brokerage acquisition.

• Ongoing digital transformation and AI-driven wealth management initiatives expected to drive future growth.

• Strategic focus includes expanding investments in innovative and venture companies and enhancing global investment platform capabilities.

• The company aims to maintain a stable dividend policy and strong capital position, with a focus on sustainable growth.