GMO Financial Holdings (7177) Q2 2025 earnings summary

Executive summary

• Operating revenue for the first half of FY2025 rose 2.9% YoY to ¥26,893 million, with net operating revenue up 3.6% to ¥25,026 million.

• Operating profit surged 97.7% YoY to ¥9,776 million, and net profit attributable to shareholders jumped 298.6% YoY to ¥6,211 million, both record highs for the half-year.

• Strong FX business and growing crypto assets drove overall revenue and profitability.

• The significant profit increase was partly due to the absence of a large provision for doubtful accounts recorded in the prior year.

• Dividend payout ratio target raised to 65%+; Q2'25 per-share dividend at a record 20.43 yen.

Financial highlights

• Trading profit increased 8.0% YoY, while financial income declined 21.3%.

• Selling, general, and administrative expenses fell 20.6% YoY.

• Comprehensive income for the period was ¥6,002 million, up 160.4% YoY.

• EPS for the half-year was ¥52.65, up from ¥13.21 in the prior year.

• Sequentially, Q2'25 operating revenue increased 7.2% and operating income rose 31.6% from Q1'25.

Outlook and guidance

• Focus on maximizing core business profitability and diversifying the business portfolio.

• Continued investment in technology and high-growth areas to drive sustainable growth.

• No consolidated earnings forecast was provided due to high sensitivity to market conditions in securities, FX, and crypto businesses.

• Key operating indicators such as FX trading volume, stock brokerage commissions, and crypto trading value are disclosed monthly.