Non-consolidated Financial Results
for the Three Months Ended June 30, 2022
(Under Japanese GAAP)
July 28, 2022
Company name:
Mito Securities Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
8622
URL:
https://www.mito.co.jp/
Representative:
Katsunori Kobayashi, President and Representative Director
Contact:
Masanobu Tamari, Manager, Finance Department
Phone:+81-3-6739-5403
Scheduled filing date of Quarterly Securities Report (Shihanki Hokokusho):August 12, 2022
Scheduled date of dividend payment:–
Preparation of supplementary briefing material on quarterly financial results:
None
Investors meeting presentation for quarterly financial results:
None(Note) Amounts less than one million yen have been omitted.
1. Non-consolidated financial results for the three months ended June 30, 2022
(from April 1, 2022 to June 30, 2022)(1) Operating results(Percentages indicate year-on-year changes.)
Operatingrevenue
Millions ofThree months ended yen

June 30, 2022
June 30, 2021

2,666
3,514

Net operating
Operating profit
Ordinary profit
Profitrevenue% Millions of% Millions of% Millions of% Millions of
yen
yen
yen
yen

(24.1)
1.2

2,653
3,500

Basic earnings
per share

Three months ended
June 30, 2022
June 30, 2021

(24.2)
1.2

(221)
376

–
(7.0)

–
2.5

(4)
581

42
447

%

(90.5)
14.3

Diluted earnings
per share
Yen

Yen

0.67
6.97

–
–

Total assets
Millions of yen

Net assets
Millions of yen

63,56764,511

38,57739,071(2) Non-consolidated financial position
As ofJune 30, 2022
March 31, 2022

Reference: Capital (Shareholders’ equity + Valuation and translation adjustments):
As of June 30, 2022:¥38,577 million
As of March 31, 2022:

Capital ratio%

Capital adequacy ratio
%

60.7
60.6

731.0
695.4

¥39,071 million

2. DividendsFirstquarter-end
Fiscal year
Ended March 31, 2022
Ending March 31, 2023
Ending March 31, 2023 (forecast)

Yen

–
–

Annual dividends per share
SecondThird
Fiscalquarter-end quarter-end
year-end
Yen

8.00

Yen

–

–

Total

Yen

Yen

6.00

14.00

–

–

(Note 1) Breakdown of second quarter-end dividends for the fiscal year ended March 31, 2022
Ordinary dividend: ¥6.00 per share
Commemorative dividend: ¥2.00 per share (to commemorate the 100th anniversary of the Company’s founding)(Note 2) We have yet to determine the year-end dividend forecast for the fiscal year ending March 31, 2023. You can find the reason andother information in “Explanation on appropriate use of earnings forecast and other special notes” on the second page of thisSummary Information.

3. Forecast of non-consolidated financial results for the fiscal year ending March 31, 2023
(from April 1, 2022 to March 31, 2023)
Our earnings could fluctuate greatly depending on the stock market trend and other factors. We therefore do notdisclose earnings forecast on concern that it could rather adversely affect the investment decision of ourshareholders and investors.
We will promptly disclose the preliminary results figures when the operating results will be substantially
finalized.

[Notes](1) Application of accounting methods used specifically for preparing the quarterly non-consolidated financial
statements:
None(2) Changes in accounting policies, changes in accounting estimates and restatements of prior period financial
statements(i) Changes in accounting policies due to application of new or revised accounting standards: Yes(ii) Changes in accounting policies due to reasons other than above (i):None(iii) Changes in accounting estimates:None(iv) Restatements of prior period financial statements:
None
Note: For more details, please see page 8 Changes in accounting policies of the Attached Materials.
(3) Number of shares issued (common stock)(i) Number of shares issued at the end of the period (including treasury shares)
As of June 30, 2022:
70,689,033 shares
As of March 31, 2022:
70,689,033 shares(ii) Number of treasury shares at the end of the period
As of June 30, 2022:
6,068,929 shares
As of March 31, 2022:
6,827,729 shares(iii) Average number of shares of common stock during the period
Three months ended June 30, 2022:
63,853,495 shares
Three months ended June 30, 2021:
64,222,650 shares
Note: The number of treasury shares at the end of the period includes the shares of the Company’s stock
held by Custody Bank of Japan, Ltd. (Trust Account E) as trust assets for Board Benefit Trust(BBT) and Employee Stock Ownership Plan (J-ESOP). In addition, the number of treasury shares,
which was to be deducted from the calculation of the average number of shares of common stockduring the period, includes the shares of the Company’s stock held by Custody Bank of Japan, Ltd.
(Trust Account E) as trust assets for BBT and J-ESOP.
* This financial results report is not subject to quarterly review procedures to be performed by certified public
accountants or an audit firm.
* Explanation on appropriate use of earnings forecast and other special notes(Reason for not disclosing dividend forecast, etc.)
We have adopted a basic policy of approximately maintaining a 50 percent dividend payout ratio by taking into
account payout consistency, net asset position, and other managerial judgments based on our corporate
philosophy of striving to act in the best interest of our shareholders.
As described in “3. Forecast of non-consolidated financial results for the fiscal year ending March 31, 2023 (from
April 1, 2022 to March 31, 2023),” we have yet to determine the year-end dividend forecast for the fiscal year
ending March 31, 2023 due to difficulty in forecasting earnings. We will promptly disclose the forecast amount at
the timing when the second quarter-end and the fiscal year-end approach (during September 2022 and March
2023).

2

Contents of Attached Materials
1. Overview of operating results, etc. ···················································································

2(1) Quarterly overview of operating results ·········································································

2(2) Quarterly overview of financial position ········································································

3(3) Outlook ···············································································································

4(4) Risk information on COVID-19 infection ·······································································

4

2. Quarterly non-consolidated financial statements and significant notes··········································

5(1) Quarterly non-consolidated balance sheets ······································································

5(2) Quarterly non-consolidated statements of income ·····························································

7

For the three months ended June 30, 2021 and 2022 ·····················································

7(3) Notes to quarterly non-consolidated financial statements ·····················································

8

Going concern assumption ························································································

8

Significant changes in shareholders’ equity ·····································································

8

Changes in accounting policies ···················································································

8

3. Supplemental information ······························································································

9(1) Commission received ·······························································································

9(2) Net trading income··································································································

9(3) Stock trading volume (excluding futures trading) ······························································ 10(4) Dealing volume of underwriting, offering and secondary distribution ······································ 10(5) Capital adequacy ratio ······························································································ 10(6) Quarterly trends of operating results ············································································· 11-1-1. Overview of operating results, etc.
(1) Quarterly overview of operating results
During the first three months ended June 30, 2022 (hereinafter the “period under review”), Japan’s economy began
to improve, but concerns about rising prices grew as demand in major countries rebounded due to the normalizationof economic activity and as worries mounted about shortages of supplies of energy and agricultural produce inconnection with Russia’s invasion of Ukraine. Regarding domestic economic indicators, the ratio of job openings
to job seekers maintained its upward trajectory, the unemployment rate remained low, and the Economy Watchers
Survey DIs for both current and future economic conditions suggested that the economy is being viewed morepositively. However, despite the appearance of smooth sailing, the rising trend in the consumer price index (CPI),
which began in the spring, became more marked, though the Bank of Japan, at its mid-June policy meeting, decided
to stick with monetary easing, demonstrating that its stance is to place priority on supporting the economy. The
U.S. economic situation was similar. While the employment environment and production activity remained
favorable, the CPI continued its ascent, and the Fed (Federal Reserve Board) quickened the pace of interest rateincreases, with hikes in March, May, and June. However, housing starts and retail sales turned downward in May
and June, respectively, as adverse effects from the steep rate rises became apparent.
During the period under review, the domestic stock markets were greatly impacted by the monetary policies of theworld’s major economies. Reflecting fears that monetary tightening would accelerate in the U.S., the Nikkei Stock
Average sagged to its lowest level in about two months on May 12, though by June 8 it had recovered to the¥28,000 range, its highest level since March 30, as pent-up demand was released on the back of expectations thatthe yen’s slide and U.S. inflation would subside. In mid-June, however, the U.S., U.K., and Switzerland all raisedinterest rates, leading to a resurgence in jitters about worldwide monetary tightening and the downward pressure
this would exert on the economy. These worries triggered a sharp drop in stock prices, with the Nikkei plunging
8.8% in eight trading days. Toward the end of the month, the market picked up again, but the Nikkei still ended
the period under review at ¥26,393.04, down 5.1% from the end of March 2022.
Under these circumstances, we reported decreases in both operating revenue and net operating revenue during
the period under review, with operating revenue of ¥2,666 million (down 24.1% year-on-year) and net operating
revenue of ¥2,653 million (down 24.2% year-on-year), which is the amount of operating revenue less financial
expenses of ¥12 million (down 8.3% year-on-year). Furthermore, selling, general and administrative expenses
were ¥2,874 (down 8.0% year-on-year). As a result, we reported an operating loss of ¥221 million (compared toan operating profit of ¥376 million for the same period a year earlier), an ordinary loss of ¥4 million (compared
to an ordinary profit of ¥581 million for the same period a year earlier), and because tax expenses were -¥47
million (compared to +¥128 million for the same period a year earlier), profit of ¥42 million (down 90.5% yearon-year).
Overview of the operating results are as shown below.
(i) Commission received
During the period under review, total “Commission received” was ¥2,322 million (down 26.9% year-onyear).
(a) Brokerage commission“Brokerage commission” was ¥899 million (down 39.6% year-on-year). This was mainly due to adecrease to ¥175.5 billion (down 24.9% year-on-year) in the volume of stock brokered, resulting inbrokerage commission on stocks of ¥888 million (down 39.8% year-on-year). Meanwhile, brokeragecommission of beneficiary certificates was ¥10 million (down 13.7% year-on-year).
(b) Commission for underwriting, secondary distribution and solicitation for selling and others for
professional investors“Commission for underwriting, secondary distribution and solicitation for selling and others for
professional investors” was ¥2 million (down 69.9% year-on-year).

-2-(c) Fees for offering, secondary distribution and solicitation for selling and others for professional investors;
and other fees received“Fees for offering, secondary distribution and solicitation for selling and others for professional investors,”
which mainly consist of investment trust sales commissions, were ¥555 million (down 28.7% year-onyear). This was due to the fact that despite focusing on sales of investment trusts that invest in stocks ofsustainable growth companies in the U.S. and cybersecurity-related companies across the world, e.g.,
global USD-denominated equity and debt securities, the investment environment deteriorated and sales
dropped. In addition, “Other fees received” were ¥864 million (down 4.0% year-on-year) mainly due todecreases in agency commission for investment trusts and commission for mutual fund wraps.
(ii) Net trading income
During the period under review, “Net trading income” was ¥292 million (up 4.7% year-on-year) consisting of
net trading income for stocks of ¥188 million (down 0.3% year-on-year) due to a decrease in the trading
volume of US stocks and that for bonds and foreign exchange of ¥103 million (up 15.4% year-on-year).
(iii) Financial revenue and expenses
During the period under review, “Financial revenue” was ¥44 million (down 14.3% year-on-year) due to adecrease in income from margin transactions, and “Financial expenses” were ¥12 million (down 8.3% yearon-year) due to an increase in the cost of margin transactions, resulting in a net profit of ¥31 million (down
16.5% year-on-year).
(iv) Selling, general and administrative expenses
During the period under review, “Selling, general and administrative expenses” were ¥2,874 million (down
8.0% year-on-year). This was mainly attributable to an increase in “Depreciation expense” due to the usefullife of noncurrent assets that are unlikely to be used after the relocation of the head office being shortened
during the previous business year, and a decrease in “Personnel expenses” such as addition to provision forbonuses due to lower operating revenue.
(2) Quarterly overview of financial position(i) Current assets
At the end of the period under review, “Current assets” amounted to ¥48,283 million, a decrease of ¥483
million from the end of the previous fiscal year. This was mainly attributable to an increase of ¥1,748 million
in “Cash and deposits,” and decreases of ¥1,515 million in “Deposits paid” and ¥655 million in “Margin
trading assets.”(ii) Non-current assets
At the end of the period under review, “Non-current assets” amounted to ¥15,284 million, a decrease of ¥469
million from the end of the previous fiscal year. This was mainly attributable to a decrease of ¥450 million in“Investment securities.”(iii) Current liabilities
At the end of the period under review, “Current liabilities” amounted to ¥20,313 million, a decrease of ¥76
million from the end of the previous fiscal year. This was mainly attributable to an increase of ¥459 million
in “Deposits received,” and decreases of ¥172 million in “Margin trading liabilities,” ¥336 million in“Provision for bonuses,” ¥284 in “Provision for share awards for employees,” and ¥111 million in “Income
taxes payable.”-3-

(iv) Non-current liabilities and reserves under special laws
At the end of the period under review, “Non-current liabilities” and “Reserves under special laws” collectively
amounted to ¥4,676 million, a decrease of ¥372 million from the end of the previous fiscal year. This was
mainly attributable to decreases of ¥268 million in “Deferred tax liabilities” and ¥155 million in “Assetretirement obligations.”(v) Net assets
At the end of the period under review, “Net assets” amounted to ¥38,577 million, a decrease of ¥494 million
from the end of the previous fiscal year. This was mainly attributable to increases of ¥260 million in “Disposalof treasury shares” and ¥42 million in “Profit,” and decreases of ¥390 million in “Dividends of surplus,” ¥337
million in “Valuation difference on available-for-sale securities,” and ¥69 million in “Acquisition of treasury
shares.”(3) Outlook
We are engaged in the financial instruments business, and thus, its earnings could fluctuate greatly depending on
the stock market performance and other factors. We therefore do not disclose earnings forecasts on concern thatthey could rather adversely affect the investment decision of our shareholders and investors.
Instead, every quarter, we will disclose preliminary forecast figures as soon as the operating results are finalized.
The disclosure of such preliminary figures is scheduled at the end of each quarter or the middle of the month
immediately following the end of each fiscal year.
(4) Risk information on COVID-19 infection
If large-scale COVID-19 outbreaks were to occur at numerous branch offices or the head office, severely restricting
sales operations and head office operations, it could have an impact on operating results.
However, we believe that the possibility of this risk materializing is low. Widespread vaccination has been achieved
despite concerns about variants, and branch offices are able to conduct sales work from home using cell phones
and tablets. The Customer Center has established a system that enables it to cover duties of offices where clustersof COVID-19 infections have been confirmed. In addition, at the head office, we have taken measures to preventthe suspension of critical operations by assigning personnel who perform the same work to different floors.

-4-2. Quarterly non-consolidated financial statements and significant notes(1) Quarterly non-consolidated balance sheets(Millions of yen)
Current quarter(As of June 30, 2022)

Previous fiscal year
(As of March 31, 2022)
AssetsCurrent assets:
Cash and deposits
Cash segregated as deposits
Trading products:
Trading securities and other
Derivatives
Trade date accrual
Margin transaction assets:
Loans on margin transactions
Cash collateral pledged for securities borrowing on
margin transactions
Cash paid for offering
Short-term guarantee deposits
Income taxes refund receivable
Other current assets
Total current assets
Non-current assets:
Property, plant and equipment:
Buildings
Other, net
Intangible assets
Investments and other assets:
Investment securities
Long-term guarantee deposits
Other
Allowance for doubtful accounts
Total non-current assets
Total assets-5-

22,723
13,445
625
623
2
31
8,409
8,291

24,471
11,930
652
650
1
11
7,754
7,552

118

201

1,736
689
–
1,104
48,766

1,710
976
27
748
48,283

3,339
1,680
1,658
320
12,084
11,196845
60(17)15,74564,511

3,492
1,627
1,864
336
11,455
10,746668
59(17)
15,28463,567

(Millions of yen)
Current quarter(As of June 30, 2022)

Previous fiscal year
(As of March 31, 2022)
Liabilities
Current liabilities:
Margin transaction liabilities:
Borrowings on margin transactions
Cash received for securities lending on margintransactions
Borrowings secured by securities:
Cash received on debt credit transaction of securities
Deposits received
Guarantee deposits received
Short-term borrowings
Income taxes payable
Provision for bonuses
Provision for share awards for employees
Provision for share awards for directors (and otherofficers)
Asset retirement obligations
Other current liabilities
Total current liabilities
Non-current liabilities:
Long-term borrowings
Deferred tax liabilities
Provision for retirement benefits
Provision for share awards for employees
Provision for share awards for directors (and otherofficers)
Asset retirement obligations
Other non-current liabilities
Total non-current liabilities
Reserves under special laws:
Reserve for financial instruments transaction liabilities
Total reserves under special laws
Total liabilities
Net assets
Shareholders’ equity:
Share capital
Capital surplus:
Legal capital surplus
Other capital surplus
Total capital surplus
Retained earnings:
Other retained earnings:
General reserve
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders’ equity
Valuation and translation adjustments:
Valuation difference on available-for-sale securities
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets

-6-

747
428

919
398

318

521

1,090
1,090
14,383
626
1,950
149
536
284

1,052
1,052
14,843
499
1,950
38
200
–

2

2

13
605
20,390157
649
20,313

800
1,485
2,202
–

800
1,217
2,223
20

9

10

397
52
4,947

242
60
4,575

101

101

101
25,439101
24,99012,272

12,272

4,294
1,969
6,264

4,294
1,969
6,264

17,778
7,247
10,531
17,778(1,635)34,68017,430
7,247
10,183
17,430(1,444)34,523

4,391
4,391
39,07164,511

4,053
4,053
38,57763,567

(2) Quarterly non-consolidated statements of income
For the three months ended June 30, 2022
For the three months ended
June 30, 2021
(From April 1, 2021
to June 30, 2021)
Operating revenue
Commission received:
Brokerage commission
Commission for underwriting, secondary distribution
and solicitation for selling and others for professional
investors
Fee for offering, secondary distribution and solicitation
for selling and others for professional investors
Other fees received
Net trading income
Financial revenue
Other
Total operating revenue
Financial expenses
Net operating revenue
Selling, general and administrative expenses:
Trading related expenses
Personnel expenses
Real estate expenses
Office expenses
Depreciation
Taxes and dues
Other
Total selling, general and administrative expenses
Operating profit (loss)
Non-operating income:
Dividend income
Miscellaneous income
Total non-operating income
Non-operating expenses:
Miscellaneous loss
Total non-operating expenses
Ordinary profit (loss)
Extraordinary losses:
Provision of reserve for financial instruments transaction
liabilities
Impairment loss
Total extraordinary losses
Profit (loss) before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit-7-(Millions of yen)
For the three months ended
June 30, 2022
(From April 1, 2022
to June 30, 2022)

3,177
1,488

2,322
899

9

2

778

555

901
279
52
6
3,514
14
3,500

864
292
44
6
2,666
12
2,653

287
1,754
412
455
86
77
49
3,124
376

228
1,549
407
462
112
66
46
2,874
(221)

163
41
205

179
39
219

0
0
581

2
2
(4)

–

0

5
5
576
3
125
128
447

–
0
(4)
6
(53)
(47)
42

(3) Notes to quarterly non-consolidated financial statements
Going concern assumption
Not applicable.
Significant changes in shareholders’ equity
Not applicable.
Changes in accounting policies
We have applied the Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ
Guidance No. 31; June 17, 2021; hereinafter the “Implementation Guidance on Accounting Standard for Fair
Value Measurement”) from the beginning of the first quarter of the fiscal year ending March 31, 2023. In
accordance with the transitional treatment set forth in Paragraph 27-2 of the Implementation Guidance on
Accounting Standard for Fair Value Measurement, we apply the new accounting policy set forth in the
Implementation Guidance on Accounting Standard for Fair Value Measurement for future periods. This has no
impact on the consolidated financial statements.

-8-

3. Supplemental information(1) Commission received(i) Commission by line item
(Millions of yen)

Brokerage commission:
StocksBeneficiary certificates
Commission for underwriting, secondary
distribution and solicitation for sellingand others for professional investors:
Stocks
Bonds
Fee for offering, secondary distribution
and solicitation for selling and others for
professional investors
Other fees received
Total

For the three months ended
June 30, 2021
(From April 1, 2021
to June 30, 2021)
1,488[1,475][12]

For the three months ended
June 30, 2022
(From April 1, 2022
to June 30, 2022)
899
[888]
[10]

9

2

30.1

[9]
[–]

[2]
[0]

26.7
–

778

555

71.3

901
3,177

864
2,322

96.0
73.1

For the three months ended
June 30, 2021
(From April 1, 2021
to June 30, 2021)
1,487
0
1,683
5
3,177

For the three months ended
June 30, 2022
(From April 1, 2022
to June 30, 2022)
893
0
1,419
9
2,322

For the three months ended
June 30, 2021
(From April 1, 2021
to June 30, 2021)
189
89
[55]
[34]
279

For the three months ended
June 30, 2022
(From April 1, 2022
to June 30, 2022)
188
103
[51]
[51]
292

(ii) Commission by product

Stocks
Bonds
Beneficiary certificates
Other
Total

60.4
60.2
86.3

(Millions of yen)

(2) Net trading income

Stocks, etc.
Bonds, foreign exchange, etc.:
Bonds, etc.
Foreign exchange, etc.
Total

Year-on-yearchange (%)

Year-on-yearchange (%)
60.0
712.0
84.3
160.0
73.1
(Millions of yen)

-9-Year-on-yearchange (%)
99.7
115.4
94.4
148.7
104.7

(3) Stock trading volume (excluding futures trading)

Total:
Brokerage
Dealing
Brokerage (%)
Exchange participation share (%)
Brokerage commission per stock on clienttransaction (yen)For the three months ended
June 30, 2021
(From April 1, 2021
to June 30, 2021)
NumberAmountof shares
129
249,054[128][233,729][0][15,324]
99.3
93.8
0.06
0.05

(Millions of shares, Millions of yen)
For the three months ended
June 30, 2022
Year-on-year change (%)(From April 1, 2022
to June 30, 2022)
NumberNumberAmountAmountof sharesof shares
89
189,244
69.1
76.0
[88]
[175,590][69.1][75.1][0][13,653][63.1][89.1]
99.3
92.8
0.04
0.04
–

11.51

10.03

(4) Dealing volume of underwriting, public offering and secondary distribution
For the three months ended
June 30, 2021
(From April 1, 2021
to June 30, 2021)(Thousands of shares, Millions of yen)
For the three months ended
June 30, 2022
Year-on-year change (%)(From April 1, 2022
to June 30, 2022)

Underwriting:Stock (Number of shares)
114
82
72.1
Stock (Amount)
289
45
15.6
Bond (Face value)–––
Beneficiary certificates (Amount)–––
Commercial paper & foreign–––
securities (Face value)
Offering and secondary distribution
Stock (Number of shares)
76
87
115.1
Stock (Amount)
158
46
29.4
Bond (Face value)
10
41
410.0
Beneficiary certificates (Amount)
103,063
75,124
72.9
Commercial paper & foreign–––
securities (Face value)
Note: The dealing volume of offering and secondary distribution includes the amount of secondary distribution and the dealing
volume of private offering.

(5) Capital adequacy ratio

Basic items

Complementary items

Deductible assets
Unfixed equity capital(A) + (B) – (C)(Millions of yen unless otherwise indicated)
Previous fiscal year
Current quarter(As of March 31, 2022)(As of June 30, 2022)
34,28934,523(A)
Valuation difference on available-forsale securities
Reserve for financial instruments
transaction liabilities
Total
(B)
(C)
(D)

4,391

4,053

101

101

4,493

4,155

5,375

5,348

33,40633,330Market risk
1,359
1,289
Counterparty risk
432
362
Risk items
Basic risk
3,011
2,907
Total
(E)
4,803
4,559
Capital adequacy ratio (%)(D) / (E) × 100
695.4
731.0
Note: The number of treasury shares, which was to be deducted from the calculation of basic items, includes the shares of theCompany’s stock held by Custody Bank of Japan, Ltd. (Trust Account E) as trust assets for BBT and J-ESOP.

- 10 -

(6) Quarterly trends of operating results
Previous fiscal year

(Millions of yen)
Current fiscal
year
4th quarter
1st quarter(Jan. 1, 2022 (Apr. 1, 2022 Mar. 31, 2022)
Jun. 30, 2022)

1st quarter(Apr. 1, 2021 Jun. 30, 2021)

2nd quarter(Jul. 1, 2021 Sep. 30, 2021)

3rd quarter(Oct. 1, 2021 Dec. 31, 2021)

Commission received

3,177

3,233

3,263

2,442

2,322

Net trading income

279

365

438

248

292

Financial revenue

52

55

52

48

44

Other

6

6

6

6

6

3,514

3,661

3,760

2,746

2,666

14

13

12

12

12

3,500

3,647

3,748

2,734

2,653

Operating revenue:

Total operating revenue
Financial expenses
Net operating revenue
Selling, general and administrative
expenses:
Trading related expenses

287

276

265

250

228

Personnel expenses

1,754

1,740

1,734

1,546

1,549

Real estate expenses

412

358

395

408

407

Office expenses

455

438

459

457

462

Depreciation

86

94

122

137

112

Taxes and dues

77

49

49

39

66

49

53

44

58

46

3,124

3,011

3,072

2,899

2,874

376

636

676

(165)

(221)

Non-operating income

205

43

146

56

219

Non-operating expenses

0

11

1

1

2

Ordinary profit (loss)

581

668

821

(110)

(4)

–

–

–

–

0

Other
Total selling, general and administrative
expenses
Operating profit (loss)

Extraordinary losses:
Provision of reserve for financial
instruments transaction liabilities
Impairment loss

5

–

–

–

–

Total extraordinary losses

5

–

–

–

0

Profit (loss) before income taxes

576

668

821

(110)

(4)

Income taxes - current

3

360

155

56

6

Income taxes - deferred

125

(155)

129

(108)

(53)

Total income taxes

128

204

284

(51)

(47)

Profit (loss)

447

463

537

(58)

42

- 11 -