Ichiyoshi Securities Co., Ltd. · TSE:8624
Ichiyoshi Securities — Q1 FY2010 Earnings Presentation
19 slides from Ichiyoshi Securities's earnings presentation, August 2009
Slide 1: IR Presentation for First quarter, year ending March 2010
Stock Code:8624 IR Presentation for First quarter, year ending March 2010 August 2009 Ichiyoshi Securities Co., Ltd.
Slide 2: Ⅰ. Business Results (Consolidated)
Ⅰ．Business Results (Consolidated) 1
Slide 3: 1. Profit & Loss
1. Profit & Loss （¥ million） 2009／3 2010/3 Quarter-on- Year-on-Year 1Q 2Q 3Q 4Q 1Q Quarter Operating revenue 5,042 3,598 2,849 2,766 4,150 50.0% △17.7% Operating costs & expenses 4,676 4,406 4,215 4,045 4,036 △0.2% △13.7% Current income 405 △886 △1,361 △1,418 127 － △68.7% Extraordinary income 145 18
Slide 4: 2. Financial Results
2. Financial Results 2009／3 2010/3 Quarter-on- Year-on-Year Quarter 1Q 2Q 3Q 4Q 1Q Total assets (¥mil.) 48,645 47,868 39,398 36,596 39,287 7.4% △19.2% Total net worth (¥mil.) 35,266 34,006 29,715 28,156 27,911 △0.9% △20.9% Equity ratio (％) 72.4 70.9 75.2 76.7 70.8 △7.7% △2.2% Net worth per share ( ¥
Slide 5: 3. Balance Sheets
3. Balance Sheets （¥ million） 2009／3 2010/3 Quarter-on- Year-on-Year 1Q 2Q 3Q 4Q 1Q Quarter Assets Current assets 37,039 37,891 28,853 27,448 30,203 10.0% △18.5% Fixed assets 11,606 9,976 10,545 9,147 9,084 △0.7% △21.7% Total assets 48,645 47,868 39,398 36,596 39,287 7.4% △19.2% Liabilities Current
Slide 6: 4. Breakdown of Net Operating Revenue
4. Breakdown of Net Operating Revenue （¥ million） 2009／3 2010/3 Quarter-on- Year-on-Year 1Q 2Q 3Q 4Q 1Q Quarter Commission revenue 4,446 3,103 2,556 2,451 3,671 50.0% △17.4% Gains on trading 292 267 97 101 258 153.8% △11.6% Interest and dividend income 107 102 66 56 61 9.4% △42.8% Other operating re
Slide 7: 5. Breakdown of Gains on Trading
5. Breakdown of Gains on Trading （¥ million） 2009／3 2010/3 Quarter-on- Year-on-Year 1Q 2Q 3Q 4Q 1Q Quarter Stocks 145 115 77 86 171 98.3% 18.1% Bonds・Forex 147 152 19 15 86 470.0% △41.0% （Bonds） （145） （153） （15） （20） （92） 358.6% （△36.5%） （Forex） （1） （△0） （4） （△4） （△5） － （－） Total 292 267 97 101 258
Slide 8: 6. Breakdown of Commission Revenue
6. Breakdown of Commission Revenue （¥ million） 2009／3 2010/3 Quarter-on- Year-on-Year 1Q 2Q 3Q 4Q 1Q Quarter Brokerage Stocks 1,776 875 1,033 858 1,623 89.2% △8.6% Distribution Investment trust 853 497 279 434 754 73.5% △11.6% Underwriting IPO 1 1 3 1 0 △96.9% △97.2% PO － 0 － 30 － － － Total 1 1 3 31
Slide 9: 7. Operating Cost and Expenses
7. Operating Cost and Expenses （¥ million） 2009／3 2010/3 Quarter-on- Year-on- 1Q 2Q 3Q 4Q 1Q Quarter Year Transaction related expenses 531 620 497 489 408 △16.6% △23.2% Personnel expenses 2,469 2,218 2,127 2,083 2,248 7.9% △8.9% Property related expenses 488 482 484 469 444 △5.4% △9.1% Clerical expe
Slide 10: Ⅱ. Business Circumstances
Ⅱ．Business Circumstances 9
Slide 11: 1. Customer Assets under Custody
1. Customer Assets under Custody (¥100 mil.) Others 20,286 Equity 21,000 Investment Trusts 1,051 19,313 1,080 18,602 19,000 1,054 16,579 17,000 15,902 1,114 1,076 14,466 15,000 1,152 9,613 13,590 8,673 1,080 8,007 12,338 13,000 11,775 1,068 6,906 1,065 6,567 11,000 5,839 6,024 9,000 5,149 4,666 7,00
Slide 12: 2. Cash and Securities Receipts/Withdrawals/Net Increase
2. Cash and Securities Receipts/ Cash and Securities Withdrawals/ Net Increase (Monthly Average) （¥100 mil.） Cash and securities receipts Cash and securities withdrawals Net increase (loss) 300 235 209 200 148 154 149 154 142 99 100 58 74 65 36 19 38 19 5 0 -10 -8 -100 -82 -94 -118 -123 -116 -130 -1
Slide 13: 3. Subscription/Redemption/Net Increase of Investment Trusts
3. Subscription/ Redemption/ Net Increase of Investment Trusts (Monthly Average) （¥100 mil.） 300 Amount of subscription Amount of redemption Net increase (loss) 250 200 200 171 170 147 150 124 111 116 95 100 78 63 57 50 29 16 32 10 0 -21 -16 -26 -50 -68 -100 -84 -83 -95 -108 -115 -111 -150 -132 -154
Slide 14: 4. Top Best Selling Investment Trusts
4. Top 5 Best Selling Investment Trusts (Total Amounts of 3 Months) （¥ 100 mil.） 2008/3 2009/3 2010/3 1Ｑ 2Ｑ 3Ｑ 4Ｑ 1Ｑ 2Ｑ 3Ｑ 4Q 1Q Global REIT Open 23 27 48 83 Global Sovereign Open 71 125 114 101 131 160 89 78 78 Ichiyoshi Mid/Small Recovery Fund 61 HSBC China Quality Stock Open 60 HSBC China Open 34
Slide 15: 5. Trend of Investment Trust Trailer Fee and its Cost Coverage
5. Trend of Investment Trust Trailer Fee and its Cost Coverage (Monthly Average/Parent Company Basis) （¥mil.） （%） 600 Investment trust trailer fee 50 Investment trust trailer fee (left axis) ※ Cost coverage ratio ＝ Operating expense Cost coverage ratio (right axis) （ ） : Wrap-account management fee
Slide 16: 6. Number of Customer Accounts (Retail)
6. Number of Customer Accounts (Retail) Total no. of accounts of assets under custody (left axis) （Accounts） （Accounts） No. of accounts with more than \10 mil. (right axis) 156,017 155,490 155,099 151,427 152,787 149,018 150,457 150,000 146,070 147,880 45,000 130,000 42,498 41,325 40,351 110,000 37,
Slide 17: 7. Number of New Customer Accounts and Ratio of Referrals
7. Number of New Customer Accounts and Ratio of Referrals （Accounts） 2,200 New customer accounts 2,000 Of which, through referrals ※ Ratio of referrals (%) 1,800 1,600 1,400 1,200 1,000 800 600 39.1 35.2 400 44.1 41.4 39.6 29.0 40.6 39.6 40.6 200 31.2 36.6 34.3% 37.1 36.3 29.5 0 Apr.08 May Jun. Jul.
Slide 18: 8. Accumulated Number of Companies Lead- and Co-managed
8. Accumulated Number of Companies Lead- and Co-managed (Companies) (Companies) 900 No. of companies lead- and co-managed (left axis) 40 Of which, no. of companies lead-managed (accumulative) (right axis) 850 812 813 815 820 821 821 808 35 792 799 800 750 30 700 27 27 650 26 26 26 26 26 26 26 25 600
Slide 19: Disclaimer
Disclaimer ・This document is produced by Ichiyoshi Securities Co., Ltd. ・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 Ichiyoshi Securities Co., Ltd. ・This presentation is based on Japanes
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