Ichiyoshi Securities Co., Ltd. · TSE:8624
Ichiyoshi Securities — Q1 FY2018 Earnings Presentation
26 slides from Ichiyoshi Securities's earnings presentation, July 2018
Slide 1: IR Presentation for First quarter, year ending March 2019
Stock Code：8624 IR Presentation for First quarter, year ending March 2019 Ichiyoshi Securities Co., Ltd. July, 2018
Slide 2: Ⅰ: Business Results (Consolidated)
Ⅰ: Business Results (Consolidated) * Effective as from the first quarter of fiscal 2018, the “Partial Amendment to Accounting Standards Relating to Tax Effect Accounting” (Corporate Accounting Standards No. 28 dated February 16, 2018) and others have been applied. Assets and liabilities as of March
Slide 3: 1. Profit and Loss
1. Profit and Loss ◆ Operating revenue amounted to 5,932 million yen, an increase of 66 million yen (up 1.1%) from the year-earlier period. ◆ Current income amounted to 1,067 million yen, a decrease of 98 million yen (down 8.4%) from the year-earlier period. ◆ Net income attributable to shareholders
Slide 4: 2. Breakdown of Net Operating Revenue
2. Breakdown of Net Operating Revenue ◆ Commission revenue amounted to 5,389 million yen, an increase of 13 million yen (up 0.3%) from the year-earlier period, as commissions from other sources (trailer fees and others) grew and etc. ◆ Gains on trading amounted to 32 million yen, an increase of 1.1%
Slide 5: 3. Breakdown of Commission Revenue
3. Breakdown of Commission Revenue ◆ Commissions from brokerage of stocks amounted to 2,167 million yen, an increase of 29 million yen (up 1.4%) from the year-earlier period. Investment trusts sales charge amounted to 1,136 million yen, a decrease of 463 million yen (down 28.9%) from the year-earlie
Slide 6: 4. Breakdown of Gains on Trading
4. Breakdown of Gains on Trading ◆ Gains on trading amounted to 32 million yen, an increase of 1.1% from the year-earlier period. (JPY mil.) (JPY mil.) Year-on- Year-on- FY 2017 1Q FY 2018 1Q year (%) year 40 Forex, etc. Bonds, etc. Stocks, etc. Stocks, etc. 11 12 5.9% 0 32 32 30 3 7 Bonds・Forex, 20
Slide 7: 5. Operating Cost and Expenses
5. Operating Cost and Expenses ◆ Operating cost and expenses amounted to 4,568 million yen, an increase of 221 million yen (up 5.1%) from the year-earlier period, as personnel expenses, property related expenses and transaction related expenses, etc. swelled. (JPY mil.) (JPY mil.) 5,000 Year-on- Yea
Slide 8: 6. Balance Sheets/Financial Results
6. Balance Sheets/Financial Results Balance sheet Financial results (JPY mil.) Total assets 70,000 Fixed assets 58,590 Current assets FY 2018 1Q Year –on-year 60,000 54,365 50,000 Equity ratio 65.1 3.1 Decrease of cash and (%) 40,000 deposits, and margin transaction assets 52,034 30,000 48,108 Net w
Slide 9: Ⅱ: Business Circumstances
Ⅱ: Business Circumstances 8
Slide 10: 1. Commission revenue
1. Commission revenue (JPY mil.) 6,883 7,000 Investment trusts (trailer fees and others) Distribution Brokerage Underwriting and others 518 6,259 6,096 6,000 469 439 5,376 5,389 5,104 183 325 5,000 4,808 2,784 313 4,590 457 4,354 2,230 2,477 291 237 2,137 4,000 2,167 1,841 1,787 1,330 1,852 3,000 1,
Slide 11: 2. Customer Assets under Custody
2. Customer Assets under Custody (JPY 100 mil.) Investment trusts Stocks Others 22,000 20,329 20,000 556 19,400 19,395 18,897 18,150 538 539 17,754 17,479 634 18,000 533 16,412 16,532 464 565 16,000 441 451 10,748 14,000 10,175 10,195 9,773 9,362 9,470 8,974 12,000 8,442 8,575 10,000 8,000 6,000 8,4
Slide 12: 3. Cash and Securities Receipts/Withdrawals/Net Increase (Retail)
3. Cash and Securities Receipts/Cash and Securities Withdrawals/Net Increase (Monthly Average) 【Retail】 (JPY 100 mil.) 200 Cash & securities receipts Cash & securities withdrawals Net increase (decrease) 183 162 150 118 123 100 116 101 101 104 28 0 -41 -9 -16 -31 -36 -46 -41 -69 -100 -132 -132 -150
Slide 13: 4. Top Best Selling Investment Trusts
4. Top 5 Best Selling Investment Trusts (Total Amounts of 3 Months) (JPY 100 mil.) FY 2016 FY2017 FY2018 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q Ichiyoshi Mid-Small Cap Growth Equity Fund 90 107 149 116 199 230 181 Shinko J-REIT Open 74 64 31 45 38 56 79 BNYM Japan Recover Growth Equity Fund 21 Pictet Global Inc
Slide 14: 5. Trend of Investment Trust Trailer Fee and its Cost Coverage
5. Trend of Investment Trust Trailer Fee and its Cost Coverage Investment trust trailer fee ＋ Wrap-account fee Note: Cost coverage ratio = X 100 (%) Cost (operating cost & expenses) (JPY mil.) Cost (left axis)） Investment trust trailer fee ＋ Wrap-account fee (left axis) Cost coverage retio (right ax
Slide 15: 6. Number of Customer Accounts (Retail)
6. Number of Customer Accounts 【Retail】 (Accounts) (Accounts) Total No. of accounts of assets under custody (left-hand scale) 200,000 50,000 No. of accounts with more than JPY 10 mil. (right-hand scale) 180,000 166,049 165,228 164,870 163,383 161,983 161,645 161,431 160,491 159,172 160,000 40,000 14
Slide 16: 7. Number of New Customer Accounts and Ratio of Referrals (Retail)
7. Number of New Customer Accounts and Ratio of Referrals 【Retail】 New customer accounts (Accounts) Through referral 2,000 Ratio of referrals 1,800 1,762 1,681 1,600 1,400 1,336 1,364 1,200 1,105 1,000 848 863 837 800 772 725 664 658 619 30.3% 31.3% 600 544 495 25.2% 26.3% 26.2% 24.3% 21.0% 21.6% 21
Slide 17: 8. Accumulated Companies Lead- and Co-managed
8. Accumulated Companies Lead- and Co-managed (Companies) (Companies) 1,200 Accumulated companies lead-and co-managed (Left-hand scale) 60 Of which, number of accumulated companies lead-managed (Right-hand scale) 1,040 1,044 1,053 1,013 1,017 1,027 993 1,002 984 1,000 50 51 50 49 46 45 45 44 44 44 8
Slide 18: Ⅲ: Quarterly Transition
Ⅲ: Quarterly Transition * Effective as from the first quarter of fiscal 2018, the “Partial Amendment to Accounting Standards Relating to Tax Effect Accounting” (Corporate Accounting Standards No. 28 dated February 16, 2018) and others have been applied. Assets and liabilities as of March 31, 2018 in
Slide 19: 1. Profit and Loss
1. Profit and Loss (JPY mil.) FY 2017 FY 2018 Quarter-on- Year-on-year quarter 1Q 2Q 3Q 4Q 1Q Operating revenue 5,866 6,535 7,348 6,752 5,932 -12.1% 1.1% Operating cost & 4,347 4,361 4,746 4,473 4,568 2.1% 5.1% expenses Current income 1,165 1,872 2,296 1,895 1,067 -43.7% -8.4% Extraordinary income 6
Slide 20: 2. Breakdown of Net Operating Revenue
2. Breakdown of Net Operating Revenue (JPY mil.) FY 2017 FY 2018 Quarter-on- Year-on- 1Q 2Q 3Q 4Q 1Q quarter year Commission revenue 5,376 6,096 6,883 6,259 5,389 -13.9% 0.3% Gains on trading 32 36 34 21 32 49.0% 1.1% Interest and dividend 67 71 88 83 91 9.9% 35.3% income Other operating 390 331 342
Slide 21: 3. Breakdown of Commission Revenue
3. Breakdown of Commission Revenue (JPY mil.) FY 2017 FY 2018 Quarter-on- Year-on-year 1Q 2Q 3Q 4Q 1Q quarter Brokerage (Major item) Stocks 2,137 2,230 2,784 2,477 2,167 -12.5% 1.4% Distribution (Major item) Investment trusts sales charge 1,600 1,784 1,795 1,523 1,136 -25.4% -28.9% Underwriting (Maj
Slide 22: 4. Breakdown of Gains on Trading
4. Breakdown of Gains on Trading (JPY mil.) FY 2017 FY 2018 Quarter-on- Year-on-year quarter 1Q 2Q 3Q 4Q 1Q Stocks, etc. 11 12 14 9 12 33.8% 5.9% Bonds・Forex, etc. 20 23 19 12 20 60.0% -1.6% (Bonds, etc.) (16) (19) (15) (10) (13) 22.7% -22.8% (Forex, etc.) (3) (4) (3) (1) (7) 259.7% 96.9% Total 32 3
Slide 23: 5. Operating Cost and Expenses
5. Operating Cost and Expenses (JPY mil.) FY2017 FY 2018 Quarter-on- Year-on-year 1Q 2Q 3Q 4Q 1Q quarter Transaction related 430 448 528 446 460 3.2% 7.2% expenses Personnel expenses 2,470 2,516 2,758 2,551 2,615 2.5% 5.9% Property related 484 472 500 496 530 6.7% 9.4% expenses Clerical expenses 601
Slide 24: 6. Balance Sheets
6. Balance Sheets (JPY mil.) FY 2017 FY 2018 Year-on-year 1Q 2Q 3Q 4Q * 1Q Assets 52,034 Current assets 44,471 60,376 52,921 48,108 -7.5% (52,582) 6,555 Fixed assets 6,075 6,109 6,087 6,256 -4.6% (6,089) 58,590 Total assets 50,546 66,485 59,008 54,365 -7.2% (8,671) Liabilities Current liabilities 16
Slide 25: 7. Financial Results
7. Financial Results (JPY mil.) FY 2017 FY 2018 Year-on-year 1Q 2Q 3Q 4Q * 1Q 58,590 Total assets (JPY mil.) 50,546 66,485 59,008 54,365 -7.2% (58,671) Net worth (JPY mil.) 33,226 34,627 35,249 36,641 35,713 -2.5% 62.0 Equity ratio (%) 65.1 51.6 59.2 65.1 － (61.9) Net worth per share (JPY) 771.83 80
Slide 26: Disclaimer
Disclaimer ・This document is produced by Ichiyoshi Securities Co., Ltd. (the “Company”), and nothing in this document shall be considered as an offer to sell or solicit an offer to buy any security, or other instrument, including securities issued by the Company. ・This document is based on Japanese
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