Traders Holdings (8704) Q3 2025 earnings summary

Executive summary

• Cumulative 3Q results surpassed the previous year's full-year totals for operating revenue, operating profit, ordinary profit, and net profit, also exceeding initial annual forecasts.

• Operating revenue for the nine months ended December 31, 2024, rose 34.9% year-over-year to 10,561 million yen, driven by strong FX trading activity and increased customer assets under custody.

• Operating profit increased 48.9% year-over-year to 5,611 million yen, with profit attributable to owners of parent up 32.9% to 3,825 million yen.

• Strong performance led to an upward revision of the year-end earnings forecast.

• The Financial Instruments Trading Business saw significant growth, while the System Development and System Consulting Business experienced a decline in external sales.

Financial highlights

• Operating revenue for FY2025/3 3Q reached 10.56 billion yen, up 34.9% year-over-year.

• Operating profit was 5.61 billion yen, a 48.9% increase year-over-year.

• Ordinary profit was 5,617 million yen, a 49.6% increase compared to the same period last year.

• Assets under custody as of December 31, 2024, were 107.3 billion yen, up 6.3 billion yen from the previous fiscal year-end.

• Net assets rose to 16,891 million yen, with an equity-to-asset ratio of 13.4%.

Outlook and guidance

• Revised full-year forecast: operating revenue 13.2 billion yen (+11.9% vs. initial forecast), operating profit 6.3 billion yen (+26.0%), ordinary profit 6.3 billion yen (+26.0%), net profit 4.2 billion yen (+23.5%).

• Full-year operating revenue forecast revised upward to 13,200 million yen, a 30.6% increase year-over-year.

• Profit attributable to owners of parent projected at 4,200 million yen, with basic EPS of 152.89 yen.

• Dividend forecast for the fiscal year ending March 31, 2025, is 24 yen per share, with the year-end dividend yet to be determined.

• Forecast reflects higher marketing expenses and provisions for bonuses and taxes in 4Q.