Financial Highlights
FY2025 3rd Quarter Financial Highlights
- Net revenue
- 73.0
billion yen
(10.3 billion yen increase year-on-year, progress rate: 77%)
- Business-related
profit* - 27.4
billion yen
(6.4 billion yen increase year-on-year, progress rate: 78%)
- Profit attributable to
owners
of parent - 21.8
billion yen
(5.5 billion yen increase year-on-year, progress rate: 99%)
- 3Q dividend
- 22
yen / share
(+3 yen yoy)
(Full-year dividend forecast: 88 yen / share)
- The three growth drivers (Strategic Investments Business, alliance with Daiwa Securities Group, and GMO Aozora Net Bank) set out in the Mid-term Plan “Aozora 2027” were major contributors to net revenue. Non-interest income significantly increased primarily due to the strong M&A market, driven by LBO financing transactions and returns on fund investments
Strategic Investments Business
- In addition to strong non-interest income, domestic net interest income also expanded due to growth in domestic earning assets, including corporate loans and LBO finance
Alliance with Daiwa Securities Group
- Business profit reached approximately 3.1 billion yen (contract basis) as of January 31, 2026 against the full-year plan of 3.3 billion yen, with the financing amount totaling approximately 210 billion yen
- Sale of Daiwa’s fund wrap product launched last October exceeded 49 billion yen as of January 31, 2026, far surpassing the FY2025 full-year plan of 15 billion yen
GMO Aozora Net Bank
- Net income was 0.8 billion yen (including 0.6 billion yen recorded in 3Q) due to an increase in fee income as well as growth in net interest income from higher deposit balances
- In light of the strong business results, we implemented loss cuts on a portion of our legacy securities, with a view to improving future profitability
- Profit attributable to owners of parent represented 99% of the full-year forecast, reflecting a reduced tax burden due to progress on the workout of U.S. office loans
- Business profit + Gains/losses on stock transactions, etc. (Gains/losses on stock transactions, etc. = Gains/losses on stock transactions + Gains/losses on equity derivatives, etc.)
Financial highlights
Net revenue
Negative figures are not displayed in this graph. For actual figures, please refer to the table below.
(billion yen)
|
FY2021 |
FY2022 |
FY2023 |
FY2024 |
FY2025 |
|
|---|---|---|---|---|---|
|
1Q |
26.7 |
21.4 |
17.7 |
20.7 |
23.8 |
|
2Q |
52.4 |
43.3 |
44.5 |
41.4 |
52.1 |
|
3Q |
79.3 |
55.2 |
60.6 |
62.7 |
73.0 |
|
Full-year |
103.0 |
59.5 |
50.9 |
85.6 |
- |
Business profit
- Negative figures are not displayed in this graph. For actual figures, please refer to the table below.
(billion yen)
|
FY2021 |
FY2022 |
FY2023 |
FY2024 |
FY2025 |
|
|---|---|---|---|---|---|
|
1Q |
13.4 |
7.3 |
3.1 |
6.4 |
8.6 |
|
2Q |
25.7 |
15.0 |
15.6 |
12.3 |
21.0 |
|
3Q |
38.8 |
12.9 |
17.2 |
17.9 |
26.5 |
|
Full-year |
47.8 |
2.5 |
-8.5 |
25.0 |
- |
Ordinary profit
- Negative figures are not displayed in this graph. For actual figures, please refer to the table below.
(billion yen)
|
FY2021 |
FY2022 |
FY2023 |
FY2024 |
FY2025 |
|
|---|---|---|---|---|---|
|
1Q |
15.6 |
11.3 |
7.3 |
5.8 |
8.0 |
|
2Q |
26.4 |
20.4 |
14.3 |
9.9 |
15.3 |
|
3Q |
38.7 |
18.4 |
-24.8 |
13.2 |
23.6 |
|
Full-year |
46.2 |
7.3 |
-54.8 |
17.5 |
- |
Profit attributable to owners of parent
- Negative figures are not displayed in this graph. For actual figures, please refer to the table below.
(billion yen)
|
FY2021 |
FY2022 |
FY2023 |
FY2024 |
FY2025 |
|
|---|---|---|---|---|---|
|
1Q |
11.5 |
8.3 |
6.7 |
7.5 |
6.3 |
|
2Q |
19.4 |
15.3 |
12.0 |
11.9 |
13.6 |
|
3Q |
28.5 |
15.7 |
-14.7 |
16.2 |
21.8 |
|
Full-year |
35.0 |
8.7 |
-49.9 |
20.5 |
- |
Total assets, loans, deposits
(billion yen)
|
Mar. 2022 |
Mar. 2023 |
Mar. 2024 |
Mar. 2025 |
Dec. 2025 |
|
|---|---|---|---|---|---|
|
Deposits / |
4,871.5 |
5,497.3 |
5,776.3 |
5,672.9 |
5,989.4 |
|
Loans and bills discounted |
3,317.1 |
3,881.3 |
4,071.2 |
4,206.5 |
4,400.0 |
|
Total assets |
6,728.6 |
7,184.0 |
7,603.0 |
7,762.4 |
8,419.3 |
- The point of time (month-year) in the table represents the end of each month.
Capital adequacy ratio*
(billion yen)
|
Mar. 2022 |
Mar. 2023 |
Mar. 2024 |
Mar. 2025 |
Dec. 2025 |
|
|---|---|---|---|---|---|
|
Capital |
10.37% |
9.43% |
9.23% |
10.72% |
10.47% |
|
Regulatory |
500.3 |
490.0 |
429.0 |
488.2 |
490.2 |
- * Basel 3, Domestic standard
- The point of time (month-year) in the table represents the end of each month.
PL summary
(billion yen)
|
FY2021 |
FY2022 |
FY2023 |
FY2024 |
FY2025 |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
1Q |
Interim |
3Q |
|||||||
|
Net revenue |
103.0 |
59.5 |
50.9 |
85.6 |
23.8 |
52.1 |
73.0 |
||
|
Net interest income |
51.6 |
51.0 |
42.0 |
48.7 |
11.6 |
24.3 |
37.2 |
||
|
Non-interest income |
51.3 |
8.4 |
8.8 |
36.9 |
12.1 |
27.8 |
35.7 |
||
|
Net fees and commissions |
14.0 |
13.3 |
20.4 |
24.6 |
6.6 |
15.7 |
23.5 |
||
|
Net trading revenues |
16.6 |
4.1 |
1.6 |
3.1 |
0.2 |
1.5 |
2.7 |
||
|
Net other ordinary income |
20.7 |
-9.0 |
-13.2 |
9.1 |
5.3 |
10.5 |
9.5 |
||
|
General & administrative expenses |
-57.7 |
-59.3 |
-61.8 |
-62.8 |
-15.7 |
-32.1 |
-48.4 |
||
|
Gains/losses on equity |
2.6 |
2.3 |
2.3 |
2.2 |
0.5 |
1.0 |
1.9 |
||
|
Business profit |
47.8 |
2.5 |
-8.5 |
25.0 |
8.6 |
21.0 |
26.5 |
||
|
Credit-related expenses |
-3.7 |
-1.7 |
-46.9 |
-9.4 |
-1.1 |
-6.0 |
-3.9 |
||
|
Gains/losses on stock transactions |
2.0 |
8.4 |
1.6 |
3.2 |
0.6 |
0.5 |
1.1 |
||
|
Ordinary profit |
46.2 |
7.3 |
-54.8 |
17.5 |
8.0 |
15.3 |
23.6 |
||
|
Extraordinary profit/loss |
-0.3 |
-0.0 |
1.6 |
1.8 |
-0.0 |
-0.0 |
-0.0 |
||
|
Profit before income taxes |
45.9 |
7.3 |
-53.1 |
19.3 |
8.0 |
15.3 |
23.6 |
||
|
Taxes |
-12.9 |
-0.6 |
1.4 |
0.2 |
-1.6 |
-1.6 |
-1.3 |
||
|
Profit/loss attributable to non-controlling interests |
1.9 |
2.0 |
1.8 |
0.8 |
-0.0 |
-0.1 |
-0.4 |
||
|
Profit attributable to owners of parent |
35.0 |
8.7 |
-49.9 |
20.5 |
6.3 |
13.6 |
21.8 |
||
Balance sheet summary
(billion yen)
|
Mar. 2022 |
Mar. 2023 |
Mar. 2024 |
Mar. 2025 |
Dec. 2025 |
||
|---|---|---|---|---|---|---|
|
Total assets |
6,728.6 |
7,184.0 |
7,603.0 |
7,762.4 |
8,419.3 |
|
|
Including Loans and bills discounted |
3,317.1 |
3,881.3 |
4,071.2 |
4,206.5 |
4,400.0 |
|
|
Including Securities |
1,478.1 |
1,278.7 |
1,186.5 |
1,355.4 |
1,407.6 |
|
|
Including Cash and due from banks |
1,141.9 |
1,275.0 |
1,579.7 |
1,409.3 |
1,581.9 |
|
|
Including Trading assets |
133.0 |
151.2 |
173.7 |
262.8 |
408.8 |
|
|
Total liabilities |
6,241.3 |
6,752.9 |
7,211.9 |
7,302.7 |
7,936.2 |
|
|
Including
Deposits / |
4,871.5 |
5,497.3 |
5,776.3 |
5,672.9 |
5,989.4 |
|
|
Including Bonds payable |
168.9 |
147.7 |
181.3 |
124.6 |
119.5 |
|
|
Including Borrowed money |
432.3 |
525.6 |
563.3 |
726.3 |
757.5 |
|
|
Including Cash collateral received for securities lent |
356.9 |
215.9 |
260.6 |
345.7 |
386.8 |
|
|
Including Trading account liabilities |
129.2 |
121.8 |
165.0 |
209.1 |
393.5 |
|
|
Total net assets |
487.2 |
431.1 |
391.0 |
459.6 |
483.1 |
|
|
Total liabilities and net assets |
6,728.6 |
7,184.0 |
7,603.0 |
7,762.4 |
8,419.3 |
|
- The point of time (month-year) in the table represents the end of each month.
Results by business segment*
- Business revenue (total of consolidated net revenue, gains/losses on equity method investments and stock transactions, etc.; management accounting basis)
- Figures for 2Q include all results starting from 1Q up through 2Q, and figures for 3Q include all results starting from 1Q up through 3Q.
- Figures are rounded down to the nearest specified unit and ratios are rounded off to two decimal places.