Non-consolidated Financial Results
for the Nine Months Ended December 31, 2021
(Under Japanese GAAP)
January 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):February 10, 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 nine months ended December 31, 2021
(from April 1, 2021 to December 31, 2021)(1) Operating results(Percentages indicate year-on-year changes.)

Nine months ended
December 31, 2021
December 31, 2020

Operatingrevenue
Millions ofyen

10,936
11,364

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

(3.8)
30.6

10,896
11,309Basic earnings
per share

Nine months ended
December 31, 2021
December 31, 2020

(3.6)
30.8

1,688
2,018

(16.3)
–

2,072
2,370

(12.6)
930.8%

1,448 (10.7)
1,622 606.7

Diluted earnings
per share
Yen

Yen

22.64
25.24

–
–

(2) Non-consolidated financial position
As ofTotal assets
Millions of yen

Net assets
Millions of yen

75,926
71,912

39,41439,709December 31, 2021
March 31, 2021

Reference: Capital (Shareholders’ equity + Valuation and translation adjustments):
As of December 31, 2021:¥39,414 million
As of March 31, 2021:

Capital ratio%

Capital adequacy ratio
%

51.9
55.2

660.2
697.1

¥39,709 million

2. DividendsFirstquarter-end
Fiscal year
Ended March 31, 2021
Ending March 31, 2022
Ending March 31, 2022 (forecast)

Yen

–
–

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

6.00
8.00

Yen

–

–

Total

Yen

Yen

10.00

16.00

–

–

(Note 1) Breakdown of fiscal year-end dividends for the fiscal year ended March 31, 2021
Ordinary dividend: ¥8.00 per share
Commemorative dividend: ¥2.00 per share (to commemorate the 100th anniversary of the Company’s founding)(Note 2) Breakdown of second quarter-end dividends for the fiscal year ending 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 3) We have yet to determine the year-end dividend forecast for the fiscal year ending March 31, 2022. 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, 2022
(from April 1, 2021 to March 31, 2022)
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:Yes(iv) Restatements of prior period financial statements:
None
Note: For more details, please see page 8 Changes in accounting policies and Changes in accounting
estimates 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 December 31, 2021:
70,689,033 shares
As of March 31, 2021:
70,689,033 shares(ii) Number of treasury shares at the end of the period
As of December 31, 2021:
6,829,526 shares
As of March 31, 2021:
6,390,853 shares(iii) Average number of shares of common stock during the period
Nine months ended December 31, 2021: 63,976,878 shares
Nine months ended December 31, 2020: 64,292,103 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, 2022 (from
April 1, 2021 to March 31, 2022),” we have yet to determine the year-end dividend forecast for the fiscal year
ending March 31, 2022 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 2021 and March
2022).

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 nine months ended December 31, 2020 and 2021 ···············································

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

Changes in accounting estimates ·················································································

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 nine months ended December 31, 2021 (hereinafter the “period under review”), Japan’s economy
was on a gradual recovery trend. Japan’s GDP shrank for the July to September period in both nominal and realterms due to sluggish personal consumption resulting from the COVID-19 pandemic as well as weakening exports
mainly owing to vehicle output cuts resulting from a shortage of parts. In addition, cautious outlook was presented
by statistical measures such as the business conditions DI (Diffusion Index) of large enterprises in the Tankan(Short-term Economic Survey of Enterprises in Japan) by the Bank of Japan and the BSI (Business Survey Index)
on general domestic economic conditions in the Business Outlook Survey by the Cabinet Office. However, the DI
for future economic conditions in the Economy Watchers Survey by the Cabinet Office topped 50 for the first timesince September, and disposable income of working households exceeded that of the same period a year earlier
since August, showing that the current economic conditions are favorable. On the other hand, consumer prices areon an upward trend centered in energy prices, and this may discourage the recovery of personal consumption.
In the United States, there was upward pressure on prices due to a combination of factors—rising energy prices
and supply bottlenecks mainly caused by supply-chain disruptions—in addition to steady economic recovery. This
prompted the Federal Reserve Board (FRB) to start tapering asset buys at the meeting of the Federal Open Market
Committee (FOMC) held in November. At the meeting of the FOMC held in December, the FRB decided toaccelerate tapering, revised its view on temporary inflation, and made a dramatic change in monetary policy,
pivoting toward tackling inflation.
During the period under review, the domestic stock markets witnessed that the Nikkei Stock Average increased
and reached its highest level in nearly 31 years on September 14, then adjusted in the stratosphere in response toboth positive and negative factors. They include anticipation for economic activity to normalize because of the
precipitous drop in COVID-19 new cases at home, the ruling party’s victory in the general election, generally
favorable financial results for the April to September period, Chinese real estate developers facing financial
difficulties, rising U.S. long-term interest rates, and the discovery of a new variant, named Omicron. Ultimately,
the Nikkei Stock Average ended the third quarter at 28,791.71 yen, 1.3% lower from the end of March 2021.
Under these circumstances, we reported decreases in both operating revenue and net operating revenue during
the period under review, with operating revenue of ¥10,936 million (down 3.8% year-on-year) and net operating
revenue of ¥10,896 million (down 3.6% year-on-year), which is the amount of operating revenue less financial
expenses of ¥40 million (down 28.1% year-on-year). Selling, general and administrative expenses were ¥9,207
million (down 0.9% year-on-year). As a result, we reported operating profit of ¥1,688 million (down 16.3% yearon-year), ordinary profit of ¥2,072 million (down 12.6% year-on-year), and profit of ¥1,448 million (down
10.7% year-on-year). Note that due to the application of “Accounting Standard for Revenue Recognition” (ASBJ
Statement No. 29, March 31, 2020; hereinafter the “Revenue Recognition Accounting Standard”), etc., operating
revenue, net operating revenue, and selling, general and administrative expenses each decreased by ¥60 million.
Nevertheless, there was no impact of the application on operating profit, ordinary profit, and profit.
Overview of the operating results are as shown below.
(i) Commission received
During the period under review, total “Commission received” was ¥9,674 million (down 5.4% year-onyear). Note that due to the application of the Revenue Recognition Accounting Standard, etc., “Commission
received” decreased by ¥60 million.
(a) Brokerage commission“Brokerage commission” was ¥4,529 million (down 22.1% year-on-year). This was mainly due to adecrease to ¥726.8 billion (down 16.5% year-on-year) in the volume of stock brokered, resulting inbrokerage commission on stocks of ¥4,492 million (down 21.7% year-on-year). Meanwhile, brokeragecommission of beneficiary certificates was ¥36 million (down 51.6% year-on-year). Note that due to theapplication of the Revenue Recognition Accounting Standard, etc., “Brokerage commission” decreasedby ¥4 million.
(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 ¥64 million (up 83.2% year-on-year).

-2-(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 ¥2,278 million (up 2.4%
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 growth companies
in Japan. In addition, “Other fees received” was ¥2,801 million (up 30.4% year-on-year) mainly due toincreases in agency commission for investment trusts and commission for mutual fund wraps. Note that
due to the application of the Revenue Recognition Accounting Standard, etc., “Fees for offering,
secondary distribution and solicitation for selling and others for professional investors” decreased by ¥7
million and “Other fees received” decreased by ¥48 million.
(ii) Net trading income
During the period under review, “Net trading income” was ¥1,083 million (up 12.4% year-on-year)
consisting of net trading income for stocks of ¥826 million (up 5.4% year-on-year) due to an increase in the
trading volume US stocks and that for bonds and foreign exchanges of ¥257 million (up 42.9% year-onyear).
(iii) Financial revenue and expenses
During the period under review, “Financial revenue” was ¥159 million (up 8.2% year-on-year) due to anincrease in income from margin transactions, and “Financial expenses” was ¥40 million (down 28.1% yearon-year) due to a decrease in cost of margin transactions, resulting in a net profit of ¥119 million (up 30.3%
year-on-year).
(iv) Selling, general and administrative expenses
During the period under review, “Selling, general and administrative expenses” were ¥9,207 million (down
0.9% year-on-year). This was mainly attributable to a decrease in “Trading related expenses,” which waspartially offset by an increase in “Real estate expenses.” Note that due to the application of the Revenue
Recognition Accounting Standard, etc., “Selling, general and administrative expenses” decreased by ¥60
million.
(v) Extraordinary income and losses“Extraordinary losses” for the period under review totaled ¥5 million (¥5 million for the same period a year
earlier), and consisted solely of “Impairment loss.”(2) Quarterly overview of financial position(i) Current assets
At the end of the period under review, “Current assets” amounted to ¥59,698 million, an increase of ¥4,454
million from the end of the previous fiscal year. This was mainly attributable to increases of ¥5,471 million
in “Cash and deposits,” ¥727 million in “Cash paid for offering,” ¥314 million in “Margin transaction
assets,” and ¥116 million in “Trading products,” which were partially offset by a decrease of ¥3,192 million
in “Cash segregated as deposits.”(ii) Non-current assets
At the end of the period under review, “Non-current assets” amounted to ¥16,228 million, a decrease of¥440 million from the end of the previous fiscal year. This was mainly attributable to decreases of ¥426
million in “Investment securities” and ¥96 million in “Property, plant and equipment,” which were partially
offset by an increase of ¥105 million in “Long-term guarantee deposits.”(iii) Current liabilities
At the end of the period under review, “Current liabilities” amounted to ¥31,214 million, an increase of¥4,489 million from the end of the previous fiscal year. This was mainly attributable to an increase of ¥6,228
million in “Deposits received,” which was partially offset by decreases of ¥874 million in “Income taxes
payable,” ¥594 million in “Margin transaction liabilities,” and ¥348 million in “Provision for bonuses.”-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 ¥5,297 million, a decrease of ¥180 million from the end of the previous fiscal year.
This was mainly attributable to a decrease of ¥166 million in “Provision for share awards for employees”
due to the reclassification to current liabilities and a decrease of ¥42 million in “Provision for retirement
benefits,” which were partially offset by an increase of ¥49 million of “Asset retirement obligations.”(v) Net assets
At the end of the period under review, “Net assets” amounted to ¥39,414 million, a decrease of ¥295 million
from the end of the previous fiscal year. This was mainly attributable to decreases of ¥1,172 million due tothe payment of “Dividends of surplus,” ¥436 million in “Valuation difference on available-for-salesecurities,” and ¥138 million in “Purchase of treasury shares,” which were partially offset by the recordingof “Profit” of ¥1,448 million.
(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 beenachieved 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 whereclusters of COVID-19 infections have been confirmed. In addition, at the head office, we have taken measures toprevent the 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
Previous fiscal year
(As of March 31, 2021)
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, 2021)

25,125
16,942
460
460
0
–
9,685
9,097

30,596
13,749577
573
45
10,000
9,794

588

206

1,490
648
890
55,243

2,218
689
1,860
59,698

3,508
1,746
1,762
321
12,83912,065739
52(17)
16,66971,912

3,411
1,715
1,695
298
12,518
11,638845
52(17)
16,22875,926

(Millions of yen)
Current quarter(As of December 31, 2021)

Previous fiscal year
(As of March 31, 2021)
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 awards for employees
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-

7
1,248
426

–
654
320

822

334

1,027
1,027
18,856
733
1,950
932
681
–
–
–
1,287
26,725

1,520
1,520
25,085
593
1,950
58
332
45
272
13
688
31,214

800
1,760
2,232
166

800
1,745
2,189
–

9

12

340
66
5,376

389
58
5,196

101

101

101
32,203101
36,512

12,272

12,272

4,294
1,969
6,264

4,294
1,969
6,264

17,561
7,247
10,313
17,561(1,500)34,597

17,837
7,247
10,59017,837(1,636)
34,7385,111
5,111
39,70971,912

4,675
4,675
39,41475,926

(2) Quarterly non-consolidated statements of income
For the nine months ended December 31, 2021
(Millions of yen)
For the nine months ended
December 31, 2021
(From April 1, 2021
to December 31, 2021)

For the nine months ended
December 31, 2020
(From April 1, 2020
to December 31, 2020)
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
Non-operating income:
Dividend income
Miscellaneous income
Total non-operating income
Non-operating expenses:
Miscellaneous loss
Total non-operating expenses
Ordinary profit
Extraordinary losses:
Provision of reserve for financial instruments transaction
liabilities
Loss on sale of investment securities
Loss on valuation of investment securities
Impairment loss
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit-7-

10,225
5,817

9,674
4,529

35

64

2,224

2,278

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

2,801
1,083
159
18
10,93640
10,896

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

830
5,230
1,167
1,352
303
175
147
9,207
1,688

226
127
353

266
128
395

1
1
2,370

12
12
2,072

1

–

1
2
5
11
2,359
585
150
736
1,622

–
–
5
5
2,066
519
98
617
1,448

(4) Notes to quarterly non-consolidated financial statements
Going concern assumption
Not applicable.
Significant changes in shareholders’ equity
Not applicable.
Changes in accounting policies
1) Application of the Accounting Standard for Revenue Recognition, etc.
We have applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29; March 31,
2020; hereinafter the “Accounting Standard for Revenue Recognition”), etc. from the beginning of the firstquarter of the fiscal year ending March 31, 2022. When control of a promised good or service is transferred
to a customer, we recognize revenue at the amount expected to be received in exchange for the good orservice. As a result, rebates and other consideration to be paid to a customer were previously accounted foras selling, general and administrative expenses, but the accounting method has been changed to the one that
deducts them from the transaction price.
The application of the Accounting Standard for Revenue Recognition, etc. is pursuant to the transitional
treatment set forth in the proviso of Paragraph 84 of the Accounting Standard for Revenue Recognition.
The cumulative effect of the retroactive application, assuming the new accounting policy had been applied
to periods prior to the beginning of the first quarter of the fiscal year ending March 31, 2022, was added toor subtracted from the beginning balance of retained earnings of the first quarter of the fiscal year ending
March 31, 2022, and thus the new accounting policy was applied from such beginning balance.
As a result, operating revenue, net operating revenue, and selling, general and administrative expenses eachdecreased by ¥60 million. There was no impact of the change on operating profit, ordinary profit, profit
before income taxes, or the beginning balance of retained earnings of the fiscal year ending March 31, 2022.
2) Application of the Accounting Standard for Fair Value Measurement, etc.
We have applied the Accounting Standard for Fair Value Measurement (ASBJ Statement No. 30; July 4,
2019; hereinafter the “Accounting Standard for Fair Value Measurement”), etc. from the beginning of thefirst quarter of the fiscal year ending March 31, 2022. In accordance with the transitional treatment set forthin Paragraph 19 of the Accounting Standard for Fair Value Measurement and Paragraph 44-2 of the
Accounting Standard for Financial Instruments (ASBJ Statement No. 10; July 4, 2019), we apply the new
accounting policy set forth in the Accounting Standard for Fair Value Measurement, etc. for future periods.
This has no impact on the consolidated financial statements.
Changes in accounting policies
During the period under review, we have decided to relocate the head office primarily for the purposes of
expanding and improving its functions, streamlining operations, and cutting expenses. Accordingly, we haveshortened the useful lives of non-current assets that are unlikely to be used after the relocation, and changed theestimates of asset retirement obligations for restoring the assets to their original state.
As a result of this change, operating profit, ordinary profit, and profit before income taxes for the period underreview each decreased by ¥23 million compared with those calculated under the previous method.

-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, 2020
(From April 1, 2020
to December 31, 2020)
5,817[5,741][0][76]

For the nine months ended
December 31, 2021
(From April 1, 2021
to December 31, 2021)
4,529[4,492]
[–]
[36]

35

64

183.2

[35]
[0]

[37]
[27]

106.5
9,166.7

2,224

2,278

102.4

2,148
10,225

2,801
9,674

130.4
94.6

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, 2021
(From April 1, 2021
to December 31, 2021)
4,538
28
5,087
20
9,674

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

For the nine months ended
December 31, 2021
(From April 1, 2021
to December 31, 2021)
826
257
[149]
[107]
1,083

(ii) Commission by product

Stocks
Bonds
Beneficiary certificates
Other
Total

77.9
78.3
–
48.4

(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 (%)
78.5
2,569.7
115.3
73.7
94.6
(Millions of yen)

-9-Year-on-yearchange (%)
105.4
142.9
151.7
132.3
112.4

(3) Stock trading volume (excluding futures trading)

Total:
Brokerage
Dealing
Brokerage (%)
Exchange participation share (%)
Brokerage commission per stock on clienttransaction (yen)For the nine months ended
December 31, 2020
(From April 1, 2020
to December 31, 2020)
NumberAmountof shares
473
935,688[468][870,820][5][64,867]
98.9
93.1
0.07
0.07
12.26

(Millions of shares, Millions of yen)
For the nine months ended
December 31, 2021
Year-on-year change (%)(From April 1, 2021
to December 31, 2021)
NumberNumberAmountAmountof sharesof shares
339
793,126
71.8
84.8
[336]
[726,892][71.9][83.5][3][66,234][62.5][102.1]
99.1
91.6
0.05
0.05
–
13.35

(4) Dealing volume of underwriting, public offering and secondary distribution
For the nine months ended
December 31, 2020
(From April 1, 2020
to December 31, 2020)(Thousands of shares, Millions of yen)
For the nine months ended
December 31, 2021
Year-on-year change (%)(From April 1, 2021
to December 31, 2021)

Underwriting:Stock (Number of shares)
1,599
1,884
117.8
Stock (Amount)
1,930
2,083
107.9
Bond (Face value)
150
2,150
1,433.3
Beneficiary certificates (Amount)–––
Commercial paper & foreign–––
securities (Face value)
Offering and secondary distribution
Stock (Number of shares)
1,835
1,754
95.6
Stock (Amount)
2,214
1,793
81.0
Bond (Face value)45
2,020
4,488.9
Beneficiary certificates (Amount)
314,613279,049
88.7
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, 2021)(As of December 31, 2021)
33,946
34,738(A)
Valuation difference on available-forsale securities
Reserve for financial instruments
transaction liabilities
Total
(B)
(C)
(D)

5,111

4,675

101

101

5,213

4,777

5,342

5,418

33,81734,097

Market risk
1,531
1,473
Counterparty risk
413
655
Risk items
Basic risk
2,905
3,035
Total
(E)
4,850
5,164
Capital adequacy ratio (%)(D) / (E) × 100
697.1
660.2
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(Millions of yen)Previous fiscal year

Current fiscal year

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

4th quarter(Jan. 1, 2021 Mar. 31, 2021)

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

3,603

3,666

3,177

3,233

3,263

Net trading income

214

275

279

365

438

Financial revenue

53

51

52

55

52

Other

9

9

6

6

6

3,880

4,001

3,514

3,661

3,760

Operating revenue:

Total operating revenue

20

15

14

13

12

3,860

3,985

3,500

3,647

3,748

346

399

287

276

265

Personnel expenses

1,746

1,720

1,754

1,740

1,734

Real estate expenses

367

369

412

358

395

Office expenses

466

492

455

438

459

Depreciation

95

97

86

94

122

Taxes and dues

50

48

77

49

49

45

60

49

53

44

3,116

3,187

3,124

3,011

3,072

743

798

376

636

676

148

50

205

43

146

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

Other
Total selling, general and administrative
expenses
Operating Profit
Non-operating income

1

12

0

11

1

891

836

581

668

821

Extraordinary income:Reversal of reserve for financial
instruments transaction liabilities
Total extraordinary income

(0)

–

–

–

–

(0)

–

–

–

–

Extraordinary losses:
Provision of reserve for financial
instruments transaction liabilities
Loss on sale of investment securities

1

1

–

–

–

1

72

–

–

–

Loss on valuation of investment securities

–

241

–

–

–

Impairment loss

–

–

5

–

–

Settlement package

–

32

–

–

–

Total extraordinary losses

2

348

5

–

–

Profit before income taxes

887

487

576

668

821

Income taxes - current

170

379

3

360

155

Income taxes - deferred

115

(136)

125

(155)

129

Total income taxes

285

242

128

204

284

Profit

602

245

447

463

537

Non-operating expenses
Ordinary profit- 11 -