SBI Holdings (8473) Q4 2025 earnings summary

Executive summary

• FY 2024 consolidated revenue reached JPY 1,443.7 billion, up 19.3% year-on-year, with profit before tax up 99.4% to JPY 282.3 billion and profit attributable to owners up 85.8% to JPY 162.13 billion, driven by strong Financial Services, Asset Management, PE Investment, and Crypto Asset segments.

• ROE improved to 12.8%, exceeding the 10% target and up from 7.7% year-on-year; annual dividend increased to JPY 170 per share, payout ratio 31.7%.

• All major business segments posted record or strong results, with PE Investment and Crypto Asset businesses showing the highest growth rates.

• The Group targets 100 million customers, JPY 500 billion pre-tax profit, and 15% ROE by FY2028, focusing on global expansion and digital finance.

• Growth was led by increased income from financial assets at amortized cost in Financial Services and from FVTPL in Investment Business.

Financial highlights

• Revenue: JPY 1,443.7 billion (+19.3% YoY); profit before tax: JPY 282.3 billion (+99.4% YoY); profit attributable to owners: JPY 162.1 billion (+85.8% YoY); basic EPS increased to JPY 536.09.

• Financial Services revenue up 9.9% to JPY 1,202.2 billion, profit before tax up 30.3% to JPY 225.4 billion; banking business grew 34.6%.

• Asset Management revenue up 14.8% to JPY 33.8 billion, profit before tax up 12.5% to JPY 5.4 billion; AUM reached JPY 10.6 trillion.

• PE Investment revenue up 341.5% to JPY 112.7 billion, profit before tax JPY 67.2 billion (from loss prior year), driven by unlisted securities.

• Crypto asset business revenue JPY 80.8 billion (+41.4% YoY), profit before tax up 151.8% to JPY 21.2 billion.

Outlook and guidance

• FY2028 targets: 100 million customers, JPY 500 billion pre-tax profit, 30% overseas profit share, and 15% ROE.

• AUM target of JPY 20 trillion by end of fiscal 2027 through organic growth and M&A.

• Focus on expanding alliances, M&A, and digital finance, including global corridor for digital assets and stablecoins.

• Continued investment in talent, technology, and overseas business portfolio reorganization to drive sustainable growth.

• Dividend forecast for the fiscal year ending March 31, 2026, is to be determined.