Financial Highlights
FY2024 Financial Highlights
V-shaped recovery with earnings exceeding forecast with higher dividend compared to forecast
- Net revenue
- 85.6
billion yen
(34.7 billion yen increase year-on-year 102% of forecast)
- Business-related
profit* - 27.1
billion yen
(34.5 billion yen increase year-on-year 110% of forecast)
- Profit attributable to
owners
of parent - 20.5
billion yen
(70.4 billion yen increase year-on-year 114% of forecast)
■ Business overview
- Net interest income increased due to the normalization of yen interest rates as well as an increase in domestic lending
- Non-interest income, especially fee income from LBO financing, increased mainly due to growing M&A needs in response to corporate governance reformations
- GMO Aozora Net Bank (GANB) has achieved profitability and is expected to remain profitable as a contributor to our earnings
■ Balance sheet repositioning (addressing legacy assets)
- With regard to U.S. office loans, exposure to “In Danger of Bankruptcy” borrowers decreased by approximately 40% in line with plan. Additional credit expenses were limited
- The net risk balance of the foreign currency securities portfolio was maintained at zero, and the unrealized losses decreased due to scheduled maturities
■ Progress on the capital and business alliance with Daiwa Securities Group
- The planning phase for the collaboration was completed, and Aozora is now transitioning to the revenue generation phase
- Progress on the alliance in respective business areas will be disclosed beginning in FY2025
■ Full-year dividend per common share: 76 yen (Forecast) → 79 yen (4Q dividend: 19 yen (Forecast) → 22 yen)
- The full-year dividend payout ratio was 51%
- Business profit + Gains/losses on stock transactions, etc.
(Gains/losses on stock transactions, etc. = Gains/losses on stock transactions + Provisions of allowance for investment loss + Gains/losses on equity derivatives)
Financial highlights
Net revenue
Negative figures are not displayed in this graph. For actual figures, please refer to the table below.
(billion yen)
|
FY2020 |
FY2021 |
FY2022 |
FY2023 |
FY2024 |
|
|---|---|---|---|---|---|
|
1Q |
21.3 |
26.7 |
21.4 |
17.7 |
20.7 |
|
2Q |
45.0 |
52.4 |
43.3 |
44.5 |
41.4 |
|
3Q |
69.1 |
79.3 |
55.2 |
60.6 |
62.7 |
|
Full-year |
96.5 |
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)
|
FY2020 |
FY2021 |
FY2022 |
FY2023 |
FY2024 |
|
|---|---|---|---|---|---|
|
1Q |
8.5 |
13.4 |
7.3 |
3.1 |
6.4 |
|
2Q |
19.0 |
25.7 |
15.0 |
15.6 |
12.3 |
|
3Q |
29.7 |
38.8 |
12.9 |
17.2 |
17.9 |
|
Full-year |
42.6 |
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)
|
FY2020 |
FY2021 |
FY2022 |
FY2023 |
FY2024 |
|
|---|---|---|---|---|---|
|
1Q |
8.7 |
15.6 |
11.3 |
7.3 |
5.8 |
|
2Q |
18.9 |
26.4 |
20.4 |
14.3 |
9.9 |
|
3Q |
28.8 |
38.7 |
18.4 |
-24.8 |
13.2 |
|
Full-year |
38.9 |
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)
|
FY2020 |
FY2021 |
FY2022 |
FY2023 |
FY2024 |
|
|---|---|---|---|---|---|
|
1Q |
7.4 |
11.5 |
8.3 |
6.7 |
7.5 |
|
2Q |
15.1 |
19.4 |
15.3 |
12.0 |
11.9 |
|
3Q |
22.0 |
28.5 |
15.7 |
-14.7 |
16.2 |
|
Full-year |
28.9 |
35.0 |
8.7 |
-49.9 |
20.5 |
Total assets, loans, deposits
(billion yen)
|
Mar. 2021 |
Mar. 2022 |
Mar. 2023 |
Mar. 2024 |
Mar. 2025 |
|
|---|---|---|---|---|---|
|
Deposits / |
4,012.5 |
4,871.5 |
5,497.3 |
5,776.3 |
5,672.9 |
|
Loans and bills discounted |
2,948.8 |
3,317.1 |
3,881.3 |
4,071.2 |
4,206.5 |
|
Total assets |
5,916.8 |
6,728.6 |
7,184.0 |
7,603.0 |
7,762.4 |
- The point of time (month-year) in the table represents the end of each month.
Capital adequacy ratio*
(billion yen)
|
Mar. 2021 |
Mar. 2022 |
Mar. 2023 |
Mar. 2024 |
Mar. 2025 |
|
|---|---|---|---|---|---|
|
Capital |
11.03% |
10.37% |
9.43% |
9.23% |
10.72% |
|
Regulatory |
481.5 |
500.3 |
490.0 |
429.0 |
488.2 |
- * Basel 3, Domestic standard. Mar. 2025: Preliminary basis
- The point of time (month-year) in the table represents the end of each month.
PL summary
(billion yen)
|
FY2020 |
FY2021 |
FY2022 |
FY2023 |
FY2024 |
|||
|---|---|---|---|---|---|---|---|
|
Net revenue |
96.5 |
103.0 |
59.5 |
50.9 |
85.6 |
||
|
Net interest income |
50.0 |
51.6 |
51.0 |
42.0 |
48.7 |
||
|
Non-interest income |
46.4 |
51.3 |
8.4 |
8.8 |
36.9 |
||
|
Net fees and commissions |
12.4 |
14.0 |
13.3 |
20.4 |
24.6 |
||
|
Net trading revenues |
13.4 |
16.6 |
4.1 |
1.6 |
3.1 |
||
|
Net other ordinary income |
20.5 |
20.7 |
-9.0 |
-13.2 |
9.1 |
||
|
General & administrative expenses |
-54.9 |
-57.7 |
-59.3 |
-61.8 |
-62.8 |
||
|
Gains/losses on equity |
1.1 |
2.6 |
2.3 |
2.3 |
2.2 |
||
|
Business profit |
42.6 |
47.8 |
2.5 |
-8.5 |
25.0 |
||
|
Credit-related expenses |
-4.3 |
-3.7 |
-1.7 |
-46.9 |
-9.4 |
||
|
Gains/losses on stock transactions |
2.3 |
2.0 |
8.4 |
1.6 |
3.2 |
||
|
Ordinary profit |
38.9 |
46.2 |
7.3 |
-54.8 |
17.5 |
||
|
Profit before income taxes |
38.9 |
45.9 |
7.3 |
-53.1 |
19.3 |
||
|
Taxes |
-12.2 |
-12.9 |
-0.6 |
1.4 |
0.2 |
||
|
Gains/losses attributable to non-controlling interests |
2.2 |
1.9 |
2.0 |
1.8 |
0.8 |
||
|
Profit attributable to owners of parent |
28.9 |
35.0 |
8.7 |
-49.9 |
20.5 |
||
Balance sheet summary
(billion yen)
|
Mar. 2021 |
Mar. 2022 |
Mar. 2023 |
Mar. 2024 |
Mar. 2025 |
||
|---|---|---|---|---|---|---|
|
Loans and bills discounted |
2,948.8 |
3,317.1 |
3,881.3 |
4,071.2 |
4,206.5 |
|
|
Securities |
1,393.3 |
1,478.1 |
1,278.7 |
1,186.5 |
1,355.4 |
|
|
Cash and due from banks |
950.1 |
1,141.9 |
1,275.0 |
1,579.7 |
1,409.3 |
|
|
Trading assets |
154.6 |
133.0 |
151.2 |
173.7 |
262.8 |
|
|
Other |
469.9 |
658.3 |
597.6 |
591.6 |
528.2 |
|
|
Total assets |
5,916.8 |
6,728.6 |
7,184.0 |
7,603.0 |
7,762.4 |
|
|
Deposits / Negotiable certificates of |
4,012.5 |
4,871.5 |
5,497.3 |
5,776.3 |
5,672.9 |
|
|
Debentures / Bonds |
198.3 |
168.9 |
147.7 |
181.3 |
124.6 |
|
|
Borrowed money |
349.7 |
432.3 |
525.6 |
563.3 |
726.3 |
|
|
Cash collateral received for securities lent |
431.6 |
356.9 |
215.9 |
260.6 |
345.7 |
|
|
Trading liabilities |
140.4 |
129.2 |
121.8 |
165.0 |
209.1 |
|
|
Other |
294.0 |
282.3 |
244.3 |
265.0 |
224.0 |
|
|
Total liabilities |
5,426.8 |
6,241.3 |
6,752.9 |
7,211.9 |
7,302.7 |
|
|
Total net assets |
490.0 |
487.2 |
431.1 |
391.0 |
459.6 |
|
|
Total liabilities and net assets |
5,916.8 |
6,728.6 |
7,184.0 |
7,603.0 |
7,762.4 |
|
- The point of time (month-year) in the table represents the end of each month.
Results by business segment*
- Business revenue (total of 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.