SBI Holdings (8473) Q2 2025 earnings summary

Executive summary

• Revenue for the six months ended September 30, 2024, reached JPY 676 billion, up 17.6% year-over-year, with profit before tax at JPY 78.9 billion (+12.3%) and profit attributable to owners at JPY 44.7 billion (+20.6%).

• Interim dividend maintained at JPY 30 per share, with a full-year forecast of JPY 130 per share and potential for increase depending on performance.

• Annualized ROE improved to 7.0% in 1H FY2024, with a target of 10%.

• Total comprehensive income turned negative at JPY (506) million, mainly due to large currency translation losses.

Financial highlights

• Financial services revenue rose 20.2% to JPY 621.7 billion, with profit before tax up 40.3% to JPY 104.4 billion.

• Asset management revenue increased 21.4% to JPY 17.1 billion, profit before tax up 49.2% to JPY 3.2 billion.

• Crypto asset business revenue rose 88.7% to JPY 30.3 billion, profit before tax surged 111.4% to JPY 1.45 billion.

• Investment business posted a loss before tax of JPY 8.5 billion due to mark-to-market valuation declines.

• Next-generation business reported a loss of JPY 9.26 billion, mainly from digital investments.

Outlook and guidance

• Management aims to increase overseas business revenue share from 12% to 20–30% within three years.

• Focus remains on expanding banking, asset management, and overseas operations, with a target of JPY 20 trillion in AUM by FY2027.

• Plans to repay public funds of about JPY 100 billion by March 2025, aiming for exponential growth in banking post-repayment.

• Targeting early achievement of 10% ROE.

• Continued focus on digital assets and regional revitalization.