Mirae Asset Securities (006800) Q3 2026 earnings summary

Executive summary

• Q3 consolidated pretax loss was KRW 520.6bn and net loss KRW 405.6bn, driven by SpaceX and private investment valuation losses and weaker trading; pretax profit excluding those losses was ~KRW 380bn.

• Through Q3, consolidated pretax profit reached KRW 3.3657tn and net profit KRW 2.5016tn, up 156% and 148% YoY; cumulative annualized ROE was 24%.

Financial highlights

• Consolidated net operating revenue was KRW 600.8bn in Q3 and KRW 3,027.3bn YTD; operating profit was KRW 178.8bn for Q3 and KRW 1,437.0bn YTD.

• Q3 SpaceX-related pretax loss was KRW 514bn and separate-basis private investment pretax loss was ~KRW 380bn; cumulative gains were KRW 2.0309tn from SpaceX and KRW 212bn from separate-basis private investments.

• Consolidated net loss attributable to controlling interests was KRW 394.1bn in Q3; consolidated private investment portfolio losses were ~KRW 520bn.

• Separate-basis pretax income was KRW 131.1bn in Q3 and KRW 1,318.1bn YTD.

Outlook and guidance

• 2027–2029 policy targets total shareholder returns of at least 35% of consolidated adjusted net income; SpaceX unrealized gains and losses are excluded from the calculation.

• Realized SpaceX gains may fund additional shareholder returns, subject to legal, financial soundness and investment capital considerations.

• Online WM expansion is planned across developed markets; Japan MTS launch is targeted 1.5–2 years after completion of the Sanko Securities acquisition.