Maruhachi SecuritiesMaruhachi Securities Co.,Ltd.8700東証スタンダード証券、商品先物取引業FY ending Mar 2026, non-consolidated, J-GAAP

Maruhachi Securities revenue and profit

Out of every ¥100 of sales, about ¥21 is left as operating profit. Revenue changed +16.0% from the prior year, operating profit +67.5%.

Five-year trend

Revenue¥3.58B
FY ending Mar 2022: ¥2.86B¥2.86BFY ending Mar 2023: ¥2.5B¥2.5BFY ending Mar 2024: ¥3.26B¥3.26BFY ending Mar 2025: ¥3.08B¥3.08BFY ending Mar 2026: ¥3.58B¥3.58BFY22FY23FY24FY25FY26
Operating income¥739.5M
FY ending Mar 2022: ¥403M¥403MFY ending Mar 2023: ¥127.5M¥127.5MFY ending Mar 2024: ¥663.7M¥663.7MFY ending Mar 2025: ¥441.4M¥441.4MFY ending Mar 2026: ¥739.5M¥739.5MFY22FY23FY24FY25FY26
Operating margin20.7%
FY ending Mar 2022: 14.1%14.1%FY ending Mar 2023: 5.1%5.1%FY ending Mar 2024: 20.3%20.3%FY ending Mar 2025: 14.3%14.3%FY ending Mar 2026: 20.7%20.7%FY22FY23FY24FY25FY26

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin19.1%
Asset turnover0.32×
ROA6.1%
ROA6.1%
Financial leverage1.39×
ROE8.5%

Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin19.1%
2022: 10.1%10.1%2023: 2.5%2.5%2024: 15.9%15.9%2025: 12.7%12.7%2026: 19.1%19.1%2223242526
Asset turnover0.32×
2022: 0.30×0.30×2023: 0.26×0.26×2024: 0.32×0.32×2025: 0.29×0.29×2026: 0.32×0.32×2223242526
ROA6.1%
2022: 3.0%3.0%2023: 0.7%0.7%2024: 5.0%5.0%2025: 3.7%3.7%2026: 6.1%6.1%2223242526
Financial leverage1.39×
2022: 1.30×1.30×2023: 1.28×1.28×2024: 1.36×1.36×2025: 1.36×1.36×2026: 1.39×1.39×2223242526
ROE8.5%
2022: 3.9%3.9%2023: 0.8%0.8%2024: 6.8%6.8%2025: 5.0%5.0%2026: 8.5%8.5%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
202210.1%0.30×3.0%1.30×3.9%
20232.5%0.26×0.7%1.28×0.8%
202415.9%0.32×5.0%1.36×6.8%
202512.7%0.29×3.7%1.36×5.0%
202619.1%0.32×6.1%1.39×8.5%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue5.4%
2021: 2.9%2.9%2022: 5.5%5.5%2023: 9.8%9.8%2024: 7.6%7.6%2025: 7.1%7.1%2026: 5.4%5.4%212223242526
PPE ÷ total assets1.6%
2021: 0.9%0.9%2022: 1.6%1.6%2023: 2.6%2.6%2024: 2.2%2.2%2025: 2.2%2.2%2026: 1.6%1.6%212223242526

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Income statement (JPY millions)

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue2,8642,5023,2623,0823,576
Cost of revenue—————
Gross profit—————
SG&A2,4452,3702,5952,6362,821
Operating income403127664441739
Pretax income4491177666031,002
Income tax16155248211318
Net income attributable to owners28963518392684
Operating margin14.1%5.1%20.3%14.3%20.7%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

Cash 29%
2%
0%
Investment securities 17%
Other assets 52%

Funding

Other liabilities 34%
Equity 66%
0%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Cash and equivalents¥3.86B¥2.74B¥3.73B¥2.88B¥3.67B
Total assets¥9.7B¥9.29B¥11.3B¥9.92B¥12.4B
Net assets¥7.45B¥7.35B¥7.83B¥7.59B¥8.21B
Share capital¥3.75B¥3.75B¥3.75B¥3.75B¥3.75B
Property, plant and equipment¥158.3M¥245.2M¥246.6M¥219.4M¥194.5M
Intangible assets excluding goodwill¥3.2M¥3M¥5.7M¥11.1M¥8M
Investment securities¥69M¥923.6M¥1.34B¥1.72B¥2.12B
Current assets¥9.04B¥7.69B¥9.31B¥7.52B¥9.59B
Current liabilities¥2.16B¥1.83B¥3.39B¥2.22B¥4.13B
Total liabilities¥2.25B¥1.93B¥3.49B¥2.32B¥4.24B
Equity attributable to owners of parent¥7.46B¥7.36B¥7.76B¥7.83B¥8.28B
Retained earnings¥3.49B¥3.39B¥3.79B¥3.86B¥4.3B
Treasury stock-¥113.8M-¥113.8M-¥113.8M-¥113.8M-¥113.8M

Sources

Show source documents (6)
  • EDINET (FSA Japan)

    有価証券報告書-第84期(2025/04/01-2026/03/31)

    ID S100YEDZ2026-06-19Open
  • EDINET (FSA Japan)

    有価証券報告書-第83期(2024/04/01-2025/03/31)

    ID S100W0FU2025-06-20Open
  • EDINET (FSA Japan)

    有価証券報告書-第82期(2023/04/01-2024/03/31)

    ID S100TSS32024-06-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第81期(2022/04/01-2023/03/31)

    ID S100R71C2023-06-28Open
  • EDINET (FSA Japan)

    有価証券報告書-第80期(令和3年4月1日-令和4年3月31日)

    ID S100OEPA2022-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第79期(令和2年4月1日-令和3年3月31日)

    ID S100LRMV2021-06-28Open

Extracted from XBRL: 43 / Derived from other figures: 1

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