Mirae Asset Securities (006800) Q4 2025 earnings summary

Executive summary

• Achieved record consolidated pre-tax income of KRW 2,080 billion and net income of KRW 1,593.6 billion in 2025, up 70% and 72% year-over-year, with consolidated ROE at 12.4%.

• Shareholders' equity rose to KRW 13.5 trillion, with ROE improving to 12.4%.

• Brokerage and wealth management revenues reached all-time highs, with brokerage fees exceeding KRW 1 trillion and WM fees at KRW 342.1 billion.

• Overseas subsidiaries contributed 24% of total pre-tax income, achieving 200% YOY growth, with developed markets contributing 67% and emerging markets 33%.

• Investment asset portfolio posted value gains of KRW 645 billion, driven by higher valuations of innovative companies.

Financial highlights

• Brokerage revenue reached KRW 1,011 billion, up 43% YOY; domestic brokerage revenue up 35% YOY, overseas up 57% YOY.

• WM revenue was KRW 342.1 billion, up 21% YOY; WM AUM increased 11% YOY to KRW 211.1 trillion.

• Trading and financial income totaled KRW 1,265.7 billion, up 14% YOY; trading financial income reached KRW 882.1 billion, up 19% YOY.

• PI investment asset gain was KRW 645 billion for the year.

• IB revenue decreased 10% YOY to KRW 167.4 billion; underwriting fees up 29%, PF/advisory fees down 31%.

Outlook and guidance

• Targeting client assets of KRW 700 trillion in 2026, a 17% increase YOY.

• Plans to expand investments in AI, aerospace, and other innovative sectors globally.

• Will continue to increase overseas earnings contribution and strengthen global investment capabilities.

• Intends to expand digital asset business, including tokenization and digital wallet offerings.

• 2026 strategies focus on sustainable earnings, innovation in traditional and digital assets, and enhanced customer protection.