FY 2025 Financial Results Presentation Japan Securities Finance Co., Ltd. May 14, 2026
This document has been translated from the Japanese original for reference purposes only. Although Japan Securities Finance intends this to serve as a faithful translation of the Japanese original, we do not guarantee the accuracy and correctness of the translation and encourage you to refer to the Japanese original.
Overview of Financial Results for FY 2025 | P 3 - 9 |
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2
Executive Summary (Consolidated)
The consolidated financial results show that both ordinary profit and profit
attributable to owners of parent have reached record highs.
(¥ mn)
FY 2025
Full Year
YoY Chg.
% YoY Chg.
Highlights
Operating profit
14,016
+2,686
+23.7%
Ordinary
profit
14,996
+2,489
+19.9%
Profit attributable to owners of parent
10,611
+235
+2.3%
Loans for margin transactions and equity repo transactions continued to show steady performance.
The extraordinary gain recorded in the same period of the previous year was eliminated.
Summary Financial Results for FY 2025
(¥ mn)
Consolidated
Non-consolidated
FY 2025
Full Year
YoY Chg.
% YoY Chg.
JSF
JSF Trust Bank
Nihon Building
YoY Chg.
YoY Chg.
YoY Chg.
Operating revenues
(Except premium charges)
105,300
+49,966
(+90.3%)
94,174
+45,154
10,567
+4,829
1,138
-70
Including premium charges
114,211
+54,724
(+92.0%)
103,085
+49,913
Operating expenses
(Except premium charges)
83,463
+46,857
(+128.0%)
77,326
+43,193
6,272
+3,577
28
+4
Including premium
charges
92,354
+51,614
(+126.7%)
86,217
+47,951
General & administrative expenses
7,840
+423
(+5.7%)
6,099
+225
1,511
+222
647
-13
Operating profit
14,016
+2,686
(+23.7%)
10,768
+1,736
2,783
+1,028
462
-61
Ordinary profit
14,996
+2,489
(+19.9%)
13,833
+3,224
2,783
+1,028
745
+30
Gain or loss in equity-method
354
-420
(-54.3%)
Extraordinary
profit or loss
-
-1,828
(-100.0%)
-
-664
-
(―)
-
-1,163
Profit attributable to owners of parent /Net income
10,611
+235
(+2.3%)
10,559
+2,071
1,924
＋697
495
-742
Gross profit
Profits from loans for margin transactions maintained strong performance.
Profits from securities financing showed steady performance in equity repo transactions, despite the narrowing interest margins for bond repo and gensaki transactions.
In securities investment, we have implemented portfolio rebalancing.
As a result, the gross profit increased by 13.2% over the previous year.
Ordinary profit
Dividends received from consolidated subsidiaries increased (due to adjustments in the dividend payment method for JSF Trust and Banking, and higher profits from real estate sales in the previous fiscal year for Nihon Building). Both had no impact on consolidated results due to elimination of intercompany transactions.
Summary of Financial Results for FY 2025 (Non-Consolidated)
Key Points
Japan Securities Finance
（Non-consolidated）
(¥ mn)
FY 2025
Full Year
YoY Chg.
% YoY Chg.
Operating revenues *1
94,174
+45,154
(+92.1%)
Operating expenses *1
77,326
+43,193
(+126.5%)
Gross profit
16,867
+1,962
(+13.2%)
Margin loan business *1
6,977
+2,591
(+59.1%)
Securities financing *2
7,095
-248
(-3.4%)
Securities investment, etc.
2,794
-381
(-12.0%)
General & administrative expenses
6,099
+225
(+3.8%)
Operating profit
10,768
+1,736
(+19.2%)
Ordinary profit
13,833
+3,224
(+30.4%)
Extraordinary
profit or loss
-
-664
(-100.0%)
Net income
10,559
+2,071
(+24.4%)
*1 Excluding premium charge
*2 Equity repo, Bond repo and gensaki transactions, Loans for negotiable margin transactions, General stock lending, Retail loans
-
Gross Profit by Business (Non-Consolidated)
Type of transaction
FY 2025
Full Year
YoY Chg.
% YoY
Chg.
Key Points
Loans for margin transactions
(Margin loan/Stock loan)
6,977
＋2,591
（+59.1％)
Securities financing
Equity repo transactions
2,166
+406
(+23.1%)
Bond repo and gensaki transactions
3,085
-972
(-24.0%)
Loans for negotiable margin transactions
426
+68
(+19.0%)
General stock lending
833
+170
(+25.7%)
Loans to retail
583
+78
(+15.6%)
Total
7,095
-248
(-3.4%)
Securities investment, etc.
2,794
-381
(-12.0%)
Increased in profit due to the steady stock market performance and changes in interest rate conditions.
Increased in profit due to enhanced demand for funds from securities companies in response to changes in interest rate conditions.
Balances were maintained slightly above the previous year amid steady demand for collateral use and compliance with international financial regulations, however interest margins narrowed due to interest rates fluctuating within a narrow range in short-term markets.
Increased in profit driven by enhanced demand for funds amid steady stock market performance.
Increased in profit due to demand for fail-cover purposes.
Increased in profit due to steady stock market performance.
Implemented portfolio rebalancing.
(¥ mn)
Key Points
Ordinary profit
Increased in profit due to steady performance in trust fees from services such as custodial trust services and the rise in interest income resulting from changes in the interest rate conditions.
Summary of Financial Results for FY 2025 (JSF Trust Bank）
JSF Trust Bank
(Non-consolidated)
(¥ mn)
FY 2025
Full Year
YoY Chg.
% YoY Chg.
Ordinary revenues
10,568
+4,829
（+84.1%）
Trust fees
1,807
+116
（＋6.8%）
Ordinary expenses
7,784
+3,800
（+95.4%）
Ordinary profit
2,783
+1,028
（+58.5%）
Net income
1,924
+697
（+56.8%）
-
Performance Forecasts for FY 2026
（¥ mn）
FY 2026
Performance Forecasts
Y o Y
Consolidated
Operating profit
14,400
+383
Ordinary profit
15,800
+803
Profit attributable to owners of parent
11,000
+388
JSF
Operating profit
10,525
-243
Ordinary profit
13,402
-431
Net income
10,230
-329
JSF Trust and Banking
Ordinary profit
3,448
+664
Net income
2,362
+437
Nihon Building
Operating profit
455
-7
Ordinary profit
700
-45
Net income
585
+89
- Shareholder Returns
Shareholder Return Policy
To enhance shareholder returns, JSF will aim for a total payout ratio of 100% until it
achieves an ROE of 8%, by paying dividends and flexibly repurchasing shares.
Dividends per share and Share Buy-Back amount
Share buy-back (maximum):
¥3.4 bn, 1.8 mn shares
* In the above chart, dividends per share in FY 2026 are forecasts and share buy-back amount is maximum amount of repurchase.
Dividend forecast: ¥94
Total payout ratio:
99.8％
*based on performance
forecasts
This document includes statements relating to business forecasts. These statements do not guarantee future business performance; they contain risks and uncertainties. Future business performance may vary significantly depending on the stock market and financial conditions or other factors.