SBI Holdings (8473) Q2 2026 earnings summary

Executive summary

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

• Annualized ROE reached 22.5%, surpassing the FY2028 target of 15% and exceeding most Japanese financial institutions.

• Customer base reached 78.36 million globally, with a target of 100 million by 2028.

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

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

Financial highlights

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

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

• Banking business net profit attributable to owners was JPY 69.3 billion, up 56% IFRS basis, driven by increased operating assets and gains on securities sales.

• Asset management revenue and pre-tax income up 9.2% and 7.8% year-over-year, respectively.

• Crypto asset business revenue grew 8.9% year-over-year, despite a JPY 2.5 billion loss from unauthorized outflow.

Outlook and guidance

• Full-year profit before tax expected to reach JPY 383.7 billion, with financial services business alone contributing JPY 100 billion.

• Consolidated profit before income tax expense of JPY 500 billion for FY2025 is considered achievable, supported by gains from affiliate sales and acquisitions.

• Medium-term vision targets JPY 500 billion profit by March 2029 and 30% of consolidated pre-tax profit from overseas businesses by 2028.

• AUM target set at JPY 20 trillion by 2027.

• Customer base target of 100 million by 2028.