Non-consolidated Financial Results
for the Nine Months Ended December 31, 2020
(Under Japanese GAAP)
January 28, 2021
Mito Securities Co., Ltd.
Listing:
Tokyo Stock Exchange
Company name:
8622
URL:
https://www.mito.co.jp/
Securities code:
Katsunori Kobayashi, President and Representative Director
Representative:
Masanobu Tamari, Manager, Finance Department
Contact:
Phone:+81-3-6739-5403
Scheduled filing date of Quarterly Securities Report (Shihanki Hokokusho):February 12, 2021
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 nine months ended December 31, 2020
(from April 1, 2020 to December 31, 2020)(1) Operating results(Percentage indicates year-on-year changes.)
Operating
Net operating
Operating profit Ordinary profit
Profitrevenuerevenue(loss)
Nine months ended

Millions ofyen

December 31, 2020
December 31, 201911,364
8,699% Millions of
yen

30.6
(5.0)

11,3098,644

Basic earnings
per share
Nine months ended
December 31, 2020
December 31, 2019

30.8
(5.1)

2,018
(160)

% Millions of
yen

–
–

2,370
229

% Millions of
yen

930.8
(44.0)%

1,622 606.7
229 (20.8)

Diluted earnings
per share
Yen

Yen

25.24
3.41

–
–

(2) Non-consolidated financial position
Total assets
As ofDecember 31, 2020
March 31, 2020

% Millions ofyen

Net assets

Capital ratio

Capital adequacy ratio

Millions of yen

Millions of yen%%

74,44960,94038,86636,535

52.2
60.0

685.3
712.5

Reference: Capital (Shareholders’ equity + Valuation and translation adjustments):
As of December 31, 2020:¥38,866 million
As of March 31, 2020:¥36,535 million

2. DividendsFirstquarter-end
Fiscal year
Ended March 31, 2020
Ending March 31, 2021
Ending March 31, 2021 (forecast)(Note)

Yen––

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

4.00
6.00

Yen

–
–

Total

Yen

Yen

4.00

8.00

–

–

We have yet to determine the year-end dividend forecast for the fiscal year ending March 31, 2021. You can find the reason
and other information in “Explanation on appropriate use of earnings forecast and other special notes” on the second pageof this Summary Information.

3. Forecast of non-consolidated financial results for the fiscal year ending March 31, 2021 (from April 1, 2020 toMarch 31, 2021)
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 forecast 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: None(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(3) Number of shares issued (common stock)(i) Number of shares issued at the end of the period (including treasury stock)
As of December 31, 2020:
70,689,033 shares
As of March 31, 2020:
70,689,033 shares(ii) Number of shares of treasury stock at the end of the period
As of December 31, 2020:
6,390,997 shares
As of March 31, 2020:
6,405,097 shares(iii) Average number of shares of common stock during the period
Nine months ended December 31, 2020: 64,292,103 shares
Nine months ended December 31, 2019: 67,416,388 shares
Notes: The number of shares of treasury stock at the end of the period includes the shares of the Company’s
stock held by Custody Bank of Japan, Ltd. (Trust Account E) (formerly known as Trust & Custody
Services Bank, Ltd. (Trust Account E)) as trust assets for Board Benefit Trust (BBT) and Employee
Stock Ownership Plan (J-ESOP). In addition, the number of shares of treasury stock, which was tobe deducted from the calculation of the average number of shares of common stock during the period,
includes the shares of the Company’s stock held by Custody Bank of Japan, Ltd. (Trust Account E)(formerly known as Trust & Custody Services Bank, 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, 2021 (from
April 1, 2020 to March 31, 2021),” we have yet to determine the year-end dividend forecast for the fiscal year
ending March 31, 2021 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 2020 and March
2021).

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 ·····························································································
7(2) Quarterly non-consolidated statements of income ····················································································
7
For the nine months ended December 31, 2019 and 2020 ······································································
7(3) Notes to quarterly non-consolidated financial statements ············································································
8(Going concern assumption) ·············································································································
8(Significant changes in shareholders’ equity) ··························································································
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 nine months ended December 31, 2020 (hereinafter the “period under review”), Japan’s economy
remained in the doldrums as the government implemented various measures against infection with the novel
coronavirus, including urging people to refrain from going out and requesting retailers, restaurants and otherbusinesses to shorten their operating hours. However, after the Declaration of the State of Emergency was lifted
on May 25 last year, the economy was on the recovery, with economic activities gradually being resumed.
During April through June, Japan’s Gross Domestic Product in Constant Prices (real GDP) declined by anannualized 29.2% rate, the largest drop since the end of World War II, having recorded negative growth for threeconsecutive quarters. From July through September, however, the real GDP soared by an annualized 22.9% rate,
supported in part by a sign that economic activities were returning to normal. In line with these trends, theComposite Index (CI) and the consumption expenditures in the Family Income and Expenditure Survey showeda recovery trend.
In the U.S., real GDP plunged by an annualized rate of 31.4% during April through June, having recorded
negative growth for two consecutive quarters, but bounced back at an annualized 33.4% during July throughSeptember. According to the Current Employment Statistics, Nonfarm Payrolls plummeted by 20.78 million in
April but then continued to climb for seven consecutive months until November when the revised data wasreleased, implying that the worst of the economic downturn was over.
During the period under review, the domestic stock markets recouped some of their losses from the sell-off amid
the COVID-19 pandemic during mid-February through mid-March last year. In fact, on November 5 in 2020, theNikkei Average rallied and topped the pre-coronavirus all-time high, recorded on January 20 last year, backed by
growing expectations that the economy would reopen, as the European Central Bank (ECB) released a commentin favor of additional easing at the end of October, and the development of COVID-19 vaccines had progressed.
In November last year, the Nikkei Average marked the largest gain since October 1990 and the largest
percentage rise since January 1994. As a result, the Nikkei Average at the end of the period under review was
27,444.17 yen, up 45.1% from the end of March 2020. In 2020, the Nikkei Average hit its record high at
27,602.52 yen, marking a new high in 30 years and four months since August 1990.
Under these circumstances, we reported increases in both operating revenue and net operating revenue during
the period under review, with operating revenue of 11,364 million yen (up 30.6% year-on-year) and net
operating revenue of 11,309 million yen (up 30.8% year-on-year), which is the amount of operating revenue lessfinancial expenses of 55 million yen (up 2.4% year-on-year). Selling, general and administrative expenses were
9,290 million yen (up 5.5% year-on-year). As a result, we reported operating profit of 2,018 million yen(compared to operating loss of 160 million yen for the same period a year earlier), ordinary profit of 2,370
million yen (up 930.8% year-on-year), and profit of 1,622 million yen (606.7% year-on-year).
Overview of the operating results are as shown below.
(i) Commission received
During the period under review, total “Commission received” was ¥10,225 million (up 48.1% year-on-year).
(a) Brokerage commission“Brokerage commission” was ¥5,817 million (up 85.7% year-on-year). This was mainly due to anincrease of ¥870.8 billion (up 60.9% year-on-year) in the volume of stock brokered, resulting inbrokerage commission on stocks of ¥5,741 million (up 85.4% year-on-year). Meanwhile, brokeragecommission of beneficiary certificates was ¥76 million (up 111.6% 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 ¥35 million (down 32.1% year-on-year).
(c) Fees for offering, secondary distribution and solicitation for selling and others for professional investors“Fees for offering, secondary distribution and solicitation for selling and others for professional
investors,” which mainly consist of investment trust sales commissions, was ¥2,224 million (up 46.6%
year-on-year). This was due to strong sales of investment trusts that invest in stocks of AI-relatedcompanies across the world, sustainable growth companies in the United States, and high-quality
growth companies over the long term. In addition, “Other fees received” was ¥2,148 million (down-2-2.3% year-on-year) mainly due to decreases in agency commission for investment trusts andcommission for mutual fund wraps.
(ii) Net trading income
During the period under review, “Net trading income” was ¥964 million (down 40.7% year-on-year)
consisting for net trading income for stocks of ¥784 million (down 19.7% year-on-year) due to a decrease in
the trading volume US stocks and that for bonds and foreign exchanges of ¥180 million (down 72.3% yearon-year).
(iii) Financial revenue and expenses
During the period under review, “Financial revenue” was ¥147 million (up 4.5% year-on-year) due to anincrease in income from margin transactions, and “Financial expenses” was ¥55 million (up 2.4% year-onyear) due to an increase in cost of margin transactions, resulting in a net profit of ¥91 million (up 5.8% yearon-year).
(iv) Selling, general and administrative expenses
During the period under review, “Selling, general and administrative expenses” was ¥9,290 million (up5.5% year-on-year). This was mainly attributable to an increase in “Personnel expenses,” notably an
increase in bonuses as a result of an increase in “Operating revenue,” which was partially offset by adecrease in “Office expenses.”(v) Extraordinary income and losses“Extraordinary losses” for the period under review costs of “Impairment loss” of ¥5 million (compared to¥39 million for the same period a year earlier), “Loss on valuation of investment securities” of 2 million yen(compared to nil for the same period a year earlier), “Provision of reserve for financial instruments
transaction liabilities” of ¥1 million (compared to nil for the same period a year earlier), and “Loss on salesof investment securities” of ¥1 million (compared to nil for the same period a year earlier).
(2) Quarterly overview of financial position(i) Current assets
At the end of the period under review, “Current assets” amounted to ¥58,044 million, an increase of ¥11,699
million from the end of the previous fiscal year. This was mainly attributable to increases of ¥4,205 million
in “Cash and deposits,” ¥3,806 million in “Cash segregated as deposits,” ¥3,227 million in “Margintransaction assets,” and ¥872 million in “Trading products,” which were partially offset by a decrease of¥1,234 million in “Cash paid for offering.”(ii) Non-current assets
At the end of the period under review, “Non-current assets” amounted to ¥16,404 million, an increase of¥1,808 million from the end of the previous fiscal year. This was mainly attributable to an increase of¥1,951 million in investment securities.
(iii) Current liabilities
At the end of the period under review, “Current liabilities” amounted to ¥30,147 million, an increase of¥10,332 million from the end of the previous fiscal year. This was mainly attributable to increases of ¥8,935
million in “Deposits received,” ¥650 million in “Borrowings secured by securities,” ¥645 million in“Margin transaction liabilities,” and ¥278 million in “Income taxes payable,” which were partially offset bya decrease of ¥181 million in “Provision for bonuses.”(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 ¥5,435 million, an increase of ¥844 million from the end of the previous fiscal
year. This was mainly attributable to increases of ¥717 million in “Deferred tax liabilities,” ¥98 million in“Provision for share-based remuneration for employees,” and ¥11 million in “Asset retirement obligations.”(v) Net assets
At the end of the period under review, “Net assets” amounted to ¥38,866 million, an increase of ¥2,331
million from the end of the previous fiscal year. This was mainly attributable to the recording of “Profit” of¥1,622 million, as well as an increase of ¥1,355 million in “Valuation difference on available-for-sale-3-

securities” and a decrease (or disposal) of ¥3 million in “Treasury shares,” which were partially offset by adecrease of ¥651 million due to the payment of dividends of surplus.
(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
To protect against the COVID-19 infection, we have encouraged its employees to work at office in rotation orwork from home so that it operates business with as few people as possible. Also, we may suspend operations at
its branch offices in accordance with the policies/requests of the national government, municipal governments,
financial authorities, etc., but will continue serving customers through telephone calls or other communication
methods. Should the infection spread further, however, decreased interactions with customers could adversely
affect our operating results.

-4-

2. Quarterly non-consolidated financial statements and significant notes(1) Quarterly non-consolidated balance sheets
Previous fiscal year
(As of March 31, 2020)
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
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-(Millions of yen)
Current quarter(As of December 31, 2020)

23,434
13,040
525
522
2
–
4,996
4,775

27,64016,847
1,398
1,397
1
8
8,224
7,569

220

654

2,881
673
792
46,345

1,646
648
1,631
58,044

3,664
1,836
1,828
283
10,647
9,866
747
52
(17)
14,59560,940

3,504
1,765
1,739
309
12,59011,817742
48(17)
16,40474,449

Liabilities
Current liabilities:
Trade date accrual
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 bonuses for directors (and other officers)
Provision for share-based remuneration for directors(and other officers)
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-based remuneration for employees
Provision for share-based remuneration for directors(and other officers)
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-

Previous fiscal year
(As of March 31, 2020)(Millions of yen)
Current quarter(As of December 31, 2020)

34
808
420

–
1,454
661

388

792

482
482
14,064
671
1,950
229
522
–

1,133
1,133
23,000
729
1,950
508
340
50

4

–

28
1,018
19,814–980
30,147

800
1,015
2,267
37

800
1,733
2,266
136

6

9

326
38
4,492

338
51
5,335

98
98
24,40599
99
35,583

12,272

12,272

4,294
1,969
6,264

4,294
1,969
6,264

16,344
7,247
9,096
16,344(1,503)33,377

17,316
7,247
10,06817,316(1,500)34,352

3,157
3,157
36,53560,9404,513
4,513
38,86674,449(2) Quarterly non-consolidated statements of income
For the nine months ended December 31, 2020
For the nine months ended
December 31, 2019
(From April 1, 2019
to December 31, 2019)
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
Extraordinary income:Reversal of reserve for financial instruments transaction
liabilities
Total extraordinary income
Extraordinary losses:
Provision of reserve for financial instruments transaction
liabilities
Loss on sales of investment securities
Loss on valuation of investment securities(Millions of yen)
For the nine months ended
December 31, 2020
(From April 1, 2020
to December 31, 2020)

6,902
3,132

10,225
5,817

52

35

1,517

2,224

2,199
1,627
141
28
8,699
54
8,644

2,148
964
147
27
11,36455
11,309

865
4,663
1,104
1,578
250
155
186
8,805
(160)

931
5,236
1,101
1,413
282
181
143
9,290
2,018

280
119
399

226
127
353

8
8
229

1
1
2,370

47

–

47

–

–

1

–
–

1
2

Impairment loss

39

5

Total extraordinary losses

39

11

Profit before income taxes

237

2,359

Income taxes - current

25

585

Income taxes - deferred

(17)

150

8

736

229

1,622

Total income taxes
Profit-7-

(3) Notes to quarterly non-consolidated financial statements(Going concern assumption)
Not applicable.
(Significant changes in shareholders’ equity)
Not applicable.

-8-3. Supplemental information(1) Commission received(i) Commission by line item
(Millions of yen)

Brokerage commission:
Stocks
Bonds
Beneficiary 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 nine months ended
December 31, 2019
(From April 1, 2019
to December 31, 2019)
3,132[3,096][–][36]

For the nine months ended
December 31, 2020
(From April 1, 2020
to December 31, 2020)
5,817[5,741]
[0]
[76]

52

35

67.9

[7]
[44]

[35]
[0]

485.6
0.7

1,517

2,224

146.6

2,199
6,902

2,148
10,225

97.7
148.1

Year-on-yearchange (%)
185.7
185.4
–
211.6

(ii) Commission by product(Millions of yen)

Stocks
Bonds
Beneficiary certificates
Other
Total

For the nine months ended
December 31, 2019
(From April 1, 2019
to December 31, 2019)
3,111
45
3,731
13
6,902

For the nine months ended
December 31, 2020
(From April 1, 2020
to December 31, 2020)
5,783
1
4,413
27
10,225For the nine months ended
December 31, 2019
(From April 1, 2019
to December 31, 2019)
976
651
[577]
[73]
1,627

For the nine months ended
December 31, 2020
(From April 1, 2020
to December 31, 2020)
784
180
[98]
[81]
964

Year-on-yearchange (%)
185.8
2.4
118.3
205.3
148.1

(2) Net trading income(Millions of yen)

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

-9-

Year-on-yearchange (%)
80.3
27.7
17.1
111.0
59.3

(3) Stock trading volume (excluding futures trading)

Total:
Brokerage
Dealing
Brokerage %Exchange participation share (%)
Brokerage commission per stock on clienttransaction

For the nine months ended
December 31, 2019
(From April 1, 2019
to December 31, 2019)
NumberAmountof shares
349
620,250[342][541,334][7][78,915]
97.8
87.3
0.06
0.05
9.04

(Millions of shares, Millions of yen)
For the nine months ended
December 31, 2020
Year-on-year change (%)(From April 1, 2020
to December 31, 2020)
NumberNumber ofAmountAmountof shares
shares473
935,688
135.3
150.9
[468]
[870,820][136.8][160.9][5][64,867][67.6][82.2]
98.9
93.1
0.07
0.07
–
12.26

(4) Dealing volume of underwriting, public offering and secondary distribution
For the nine months ended
December 31, 2019
(From April 1, 2019
to December 31, 2019)(Thousands of shares, Millions of yen)
For the nine months ended
December 31, 2020
Year-on-year change (%)(From April 1, 2020
to December 31, 2020)

Underwriting:Stock (Number of shares)
72
1,599
2,204.7
Stock (Amount)
158
1,930
1,216.9
Bond (Face value)
4,740
150
3.2
Beneficiary certificates (Amount)–––
Commercial paper & foreign securities–––(Face value)
Offering and secondary distribution
Stock (Number of shares)
65
1,835
2,782.6
Stock (Amount)
142
2,214
1,552.4
Bond (Face value)
4,288
45
1.0
Beneficiary certificates (Amount)
268,404
314,613
117.2
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)(A)
Valuation difference on available-forsale securities
Reserve for financial instruments
transaction liabilities
Total (B)(C)
(D)

Previous fiscal year
(As of March 31, 2020)
33,117(Millions of yen)
Current quarter(As of December 31, 2020)
34,352

3,157

4,513

98

99

3,255
5,301

4,613
5,306

31,071

33,659Market risk
1,202
1,514
Counterparty risk
292
578
Risk items
Basic risk
2,865
2,818
Total
(E)
4,360
4,911
Capital adequacy ratio (%)(D) / (E) × 100
712.5
685.3
Note: The number of shares of treasury stock, which was to be deducted from the calculation of basic items, includes the sharesof the Company’s stock held by Custody Bank of Japan, Ltd. (Trust Account E) (formerly known as Trust & Custody
Services Bank, Ltd. (Trust Account E)) as trust assets for BBT and J-ESOP.

- 10 -

(6) Quarterly trends of operating results(Millions of yen)Previous fiscal year

Current fiscal year

3rd quarter(Oct. 1, 2019 Dec. 31, 2019)

4th quarter(Jan. 1, 2020 Mar. 31, 2020)

1st quarter(Apr. 1, 2020 Jun. 30, 2020)

2nd quarter(Jul. 1, 2020 Sep. 30, 2020)

3rd quarter(Oct. 1, 2020 Dec. 31, 2020)

Commission received

2,712

2,587

3,076

3,544

3,603

Net trading income

608

603

349

400

214

Financial revenue

46

46

39

55

53

Other

9

9

9

9

9

3,377

3,247

3,474

4,009

3,880

Operating revenue:

Total operating revenue

20

14

14

20

20

3,356

3,232

3,459

3,989

3,860

297

312

275

308

346

Personnel expenses

1,582

1,647

1,686

1,803

1,746

Real estate expenses

360

353

383

350

367

Office expenses

557

461

483

464

466

Depreciation

88

165

94

92

95

Taxes and dues

45

48

77

53

50

55

75

52

45

45

2,986

3,064

3,054

3,118

3,116

370

168

404

870

743

Non-operating income

145

46

162

41

148

Non-operating expenses

6

2

0

0

1

508

211

567

911

891

–

–

5

(4)

(0)

47

647

–

–

–

47

647

5

(4)

(0)

–

0

–

–

1

–

1

–

–

1

Loss on valuation of investment securities

–

138

2

–

–

Impairment loss

32

–

5

–

–

Total extraordinary losses

32

140

8

–

2

Profit before income taxes

524

718

564

907

887

Income taxes - current

13

167

81

334

170

Income taxes - deferred

29

(10)

91

(55)

115

Total income taxes

42

156

172

278

285

Profit

481

561

391

628

602

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

Other
Total selling, general and administrative
expenses
Operating Profit

Ordinary profit
Extraordinary income:Reversal of reserve for financial
instruments transaction liabilities
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses:
Provision of reserve for financial
instruments transaction liabilities
Loss on sales of investment securities- 11 -