SBI Holdings (8473) Q1 2026 earnings summary

Executive summary

• Q1 FY2025 revenue reached JPY 443.2 billion, up 34.1% year-over-year, with profit before tax at JPY 90.4 billion and net profit attributable to owners at JPY 84.6 billion, all record highs.

• Net profit attributable to owners surged 295.9% year-over-year, ranking second among major securities groups.

• Financial Services Business maintained strong momentum, while PE Investment Business reversed prior year losses to a JPY 30.7 billion profit due to valuation gains on listed equities.

• Next Gen Business returned to profitability, aided by Mynavi's contribution.

• Annualized ROE for Q1 reached 24%, exceeding the 15% medium-term target.

Financial highlights

• Revenue: JPY 443.2 billion (+34.1% YoY); Profit before tax: JPY 90.4 billion (+74.6% YoY); Net profit attributable to owners: JPY 84.6 billion (+295.9% YoY), all record highs.

• SBI SAVINGS BANK posted a 21% year-on-year profit increase, with capital adequacy ratio at a record 17.95% and non-performing loan ratio reduced to 4.1%.

• Special gain of JPY 19.9 billion from Shinsei Bank's subsidiary liquidation contributed to banking profits.

• Total assets increased to JPY 32,996,473 million, and cash and cash equivalents rose to JPY 6,318,384 million.

• Basic earnings per share increased to JPY 279.20 from JPY 70.79 year-over-year.

Outlook and guidance

• Gains from the sale of SBI Sumishin Net Bank shares to NTT DOCOMO (approx. JPY 142.4 billion) to be recorded in Q3.

• Anticipated negative goodwill gain of JPY 30 billion from Kyobo Life Insurance becoming an equity-method affiliate, with annual equity-method income of JPY 12–13 billion.

• Medium-term vision targets JPY 500 billion consolidated profit before tax by FY2028, potentially achievable by FY2025.

• Dividend per share for FY2025 was JPY 140.00, with a full-year forecast of JPY 170.00 for FY2026 (forecast to be determined).