SBI Holdings (8473) Q2 2026 earnings summary

Executive summary

• Revenue for 1H FY2025 rose 33.5% year-over-year to JPY 902.6bn, with profit before income tax up 168.9% to JPY 212.1bn and profit attributable to owners up 270.7% to JPY 165.8bn, all record highs for a first half.

• Annualized ROE reached 22.5%, surpassing the FY2028 target of 15% and significantly above industry peers.

• Total comprehensive income reached ¥180,907 million, a significant turnaround from a loss of ¥506 million in the prior year period.

• Interim dividend set at JPY 40 per share, up JPY 10 from the previous year.

• A stock split (2-for-1) is scheduled for December 1, 2025.

Financial highlights

• Basic earnings per share increased to ¥527.54 from ¥148.07 year-over-year, and diluted EPS to ¥494.02 from ¥144.58.

• Total assets grew to ¥35,304,456 million from ¥32,113,430 million as of March 31, 2025.

• Financial Services revenue up 13.8% to JPY 707.4bn; profit before tax up 13.0% to JPY 118.0bn.

• Asset Management revenue up 9.2% to JPY 18.6bn; profit before tax up 7.8% to JPY 3.5bn.

• PE Investment revenue surged to JPY 141.1bn, profit before tax at JPY 110.5bn, a turnaround from a prior year loss.

Outlook and guidance

• Full-year profit before tax expected to include JPY 141.6bn from affiliate sales and around JPY 30bn from Kyobo Life Insurance acquisition.

• Mid-term vision targets for FY2028: consolidated profit before tax of JPY 500bn, customer base of 100m, overseas business share of 30%, and ROE of 15%.

• Aims to increase overseas business share of consolidated pre-tax profit from 17% in FY2024 to 30% by FY2028.

• Customer base target set at 100 million, up from current 78.4 million.

• Full-year dividend forecast is yet to be determined.