Half-year report · HY

Period2025-04-01 → 2025-09-30

Filed2025-11-28

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Key figures · 124

Metric	Value	Period	Scope	Source row
Ordinary income	¥1.75T	2025-04-01 → 2025-09-30	Cons.	Ordinary income
Ordinary income	¥2.67T	2024-04-01 → 2025-03-31	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥1.76T	2024-04-01 → 2024-09-30	Cons.	Ordinary income
Ordinary income	¥2.13T	2023-04-01 → 2024-03-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥1.28T	2023-04-01 → 2023-09-30^d	Cons.	Ordinary income loss (5-year summary)
Profit before tax	¥1.77T	2025-04-01 → 2025-09-30	Cons.	Income before income taxes
Profit before tax	¥1.74T	2024-04-01 → 2024-09-30	Cons.	Income before income taxes
Net income (owners)	¥1.29T	2025-04-01 → 2025-09-30	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥1.86T	2024-04-01 → 2025-03-31	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥1.26T	2024-04-01 → 2024-09-30	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥1.49T	2023-04-01 → 2024-03-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥927.3bn	2023-04-01 → 2023-09-30^d	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	¥1.36T	2025-04-01 → 2025-09-30	Cons.	Profit loss
Net income	¥1.31T	2024-04-01 → 2024-09-30	Cons.	Profit loss
Total assets	¥404.32T	at 2025-09-30	Cons.	Assets
Total assets	¥413.11T	at 2025-03-31	Cons.	Assets
Total assets	¥399.06T	at 2024-09-30	Cons.	Total assets (5-year summary)
Total assets	¥403.70T	at 2024-03-31^v	Cons.	Total assets (5-year summary)
Total assets	¥398.18T	at 2023-09-30^d	Cons.	Total assets (5-year summary)
Total liabilities	¥382.08T	at 2025-09-30	Cons.	Liabilities
Total liabilities	¥391.39T	at 2025-03-31	Cons.	Liabilities
Net assets / equity	¥22.24T	at 2025-09-30	Cons.	Net assets
Net assets / equity	¥21.73T	at 2025-03-31	Cons.	Net assets
Net assets / equity	¥21.68T	at 2024-09-30	Cons.	Net assets
Net assets / equity	¥20.75T	at 2024-03-31^v	Cons.	Net assets
Net assets / equity	¥19.62T	at 2023-09-30^d	Cons.	Net assets (5-year summary)
Cash & equivalents	¥94.09T	at 2025-09-30	Cons.	Cash and cash equivalents
Cash & equivalents	¥109.10T	at 2025-03-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥108.00T	at 2024-09-30	Cons.	Cash and cash equivalents
Cash & equivalents	¥109.88T	at 2024-03-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥108.63T	at 2023-09-30^d	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	−¥15.37T	2025-04-01 → 2025-09-30	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥6.4bn	2024-04-01 → 2025-03-31	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥5.96T	2024-04-01 → 2024-09-30	Cons.	Net cash provided by used in operating activities
Operating cash flow	−¥9.84T	2023-04-01 → 2024-03-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥12.54T	2023-04-01 → 2023-09-30^d	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	¥760.9bn	2025-04-01 → 2025-09-30	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥186.9bn	2024-04-01 → 2025-03-31	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	¥4.10T	2024-04-01 → 2024-09-30	Cons.	Net cash provided by used in investment activities
Investing cash flow	¥3.99T	2023-04-01 → 2024-03-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	¥5.19T	2023-04-01 → 2023-09-30^d	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	−¥152.5bn	2025-04-01 → 2025-09-30	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥861.1bn	2024-04-01 → 2025-03-31	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	−¥121.1bn	2024-04-01 → 2024-09-30	Cons.	Net cash provided by used in financing activities
Financing cash flow	¥8.3bn	2023-04-01 → 2024-03-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥372.3bn	2023-04-01 → 2023-09-30^d	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥113.06	2025-04-01 → 2025-09-30	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥160.01	2024-04-01 → 2025-03-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥107.69	2024-04-01 → 2024-09-30	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥124.64	2023-04-01 → 2024-03-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥77.11	2023-04-01 → 2023-09-30^d	Cons.	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥112.77	2025-04-01 → 2025-09-30	Cons.	Diluted earnings per share (5-year summary)
EPS (diluted)	¥159.47	2024-04-01 → 2025-03-31	Cons.	Diluted earnings per share (5-year summary)
EPS (diluted)	¥107.57	2024-04-01 → 2024-09-30	Cons.	Diluted earnings per share (5-year summary)
EPS (diluted)	¥124.32	2023-04-01 → 2024-03-31^v	Cons.	Diluted earnings per share (5-year summary)
EPS (diluted)	¥76.89	2023-04-01 → 2023-09-30^d	Cons.	Diluted earnings per share (5-year summary)
Net assets per share	¥1,834.27	at 2025-09-30	Cons.	Net assets per share (5-year summary)
Net assets per share	¥1,783.36	at 2025-03-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥1,754.77	at 2024-09-30	Cons.	Net assets per share (5-year summary)
Net assets per share	¥1,670.44	at 2024-03-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥1,540.07	at 2023-09-30^d	Cons.	Net assets per share (5-year summary)
Equity ratio	5.2%	at 2025-09-30	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	5.0%	at 2025-03-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	5.1%	at 2024-09-30	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	4.9%	at 2024-03-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	4.7%	at 2023-09-30^d	Cons.	Equity to asset ratio (5-year summary)
Employees	167,176	at 2025-09-30	Cons.	Number of employees
Employees	156,253	at 2025-03-31	Cons.	Number of employees
Employees	158,132	at 2024-09-30	Cons.	Number of employees
Employees	145,412	at 2024-03-31^v	Cons.	Number of employees
Employees	142,056	at 2023-09-30^d	Cons.	Number of employees
Revenue	¥751.5bn	2025-04-01 → 2025-09-30	Standalone	Operating revenue1
Revenue	¥1.34T	2024-04-01 → 2025-03-31	Standalone	Operating revenue1 (5-year summary)
Revenue	¥707.0bn	2024-04-01 → 2024-09-30	Standalone	Operating revenue1
Revenue	¥809.8bn	2023-04-01 → 2024-03-31^v	Standalone	Operating revenue1 (5-year summary)
Revenue	¥198.4bn	2023-04-01 → 2023-09-30^d	Standalone	Operating revenue1 (5-year summary)
Operating income	¥724.2bn	2025-04-01 → 2025-09-30	Standalone	Operating income
Operating income	¥681.5bn	2024-04-01 → 2024-09-30	Standalone	Operating income
Ordinary income	¥712.6bn	2025-04-01 → 2025-09-30	Standalone	Ordinary income
Ordinary income	¥1.29T	2024-04-01 → 2025-03-31	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥679.2bn	2024-04-01 → 2024-09-30	Standalone	Ordinary income
Ordinary income	¥756.3bn	2023-04-01 → 2024-03-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥170.5bn	2023-04-01 → 2023-09-30^d	Standalone	Ordinary income loss (5-year summary)
Profit before tax	¥712.5bn	2025-04-01 → 2025-09-30	Standalone	Income before income taxes
Profit before tax	¥679.2bn	2024-04-01 → 2024-09-30	Standalone	Income before income taxes
Net income	¥712.7bn	2025-04-01 → 2025-09-30	Standalone	Profit loss
Net income	¥1.28T	2024-04-01 → 2025-03-31	Standalone	Net income loss (5-year summary)
Net income	¥675.2bn	2024-04-01 → 2024-09-30	Standalone	Profit loss
Net income	¥749.4bn	2023-04-01 → 2024-03-31^v	Standalone	Net income loss (5-year summary)
Net income	¥168.5bn	2023-04-01 → 2023-09-30^d	Standalone	Net income loss (5-year summary)
Total assets	¥23.43T	at 2025-09-30	Standalone	Assets
Total assets	¥22.12T	at 2025-03-31	Standalone	Assets
Total assets	¥22.50T	at 2024-09-30	Standalone	Total assets (5-year summary)
Total assets	¥23.92T	at 2024-03-31^v	Standalone	Total assets (5-year summary)
Total assets	¥23.97T	at 2023-09-30^d	Standalone	Total assets (5-year summary)
Total liabilities	¥14.76T	at 2025-09-30	Standalone	Liabilities
Total liabilities	¥13.46T	at 2025-03-31	Standalone	Liabilities
Net assets / equity	¥8.67T	at 2025-09-30	Standalone	Net assets
Net assets / equity	¥8.66T	at 2025-03-31	Standalone	Net assets
Net assets / equity	¥8.65T	at 2024-09-30	Standalone	Net assets
Net assets / equity	¥8.32T	at 2024-03-31^v	Standalone	Net assets
Net assets / equity	¥8.39T	at 2023-09-30^d	Standalone	Net assets (5-year summary)
Cash and deposits	¥356.4bn	at 2025-09-30	Standalone	Cash and deposits
Cash and deposits	¥353.1bn	at 2025-03-31	Standalone	Cash and deposits
Dividend per share	¥35	2025-04-01 → 2025-09-30	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥64	2024-04-01 → 2025-03-31	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥25	2024-04-01 → 2024-09-30	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥41	2023-04-01 → 2024-03-31^v	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥20.5	2023-04-01 → 2023-09-30^d	Standalone	Dividend paid per share (5-year summary)
Equity ratio	37.0%	at 2025-09-30	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	39.1%	at 2025-03-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	38.4%	at 2024-09-30	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	34.8%	at 2024-03-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	35.0%	at 2023-09-30^d	Standalone	Equity to asset ratio (5-year summary)
Shares issued	12,067,710,920	at 2025-09-30	Standalone	Total number of issued shares (5-year summary)
Shares issued	12,067,710,920	at 2025-03-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	12,337,710,920	at 2024-09-30	Standalone	Total number of issued shares (5-year summary)
Shares issued	12,337,710,920	at 2024-03-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	12,687,710,920	at 2023-09-30^d	Standalone	Total number of issued shares (5-year summary)
Employees	3,532	at 2025-09-30	Standalone	Number of employees
Employees	3,463	at 2025-03-31	Standalone	Number of employees
Employees	3,410	at 2024-09-30	Standalone	Number of employees
Employees	3,321	at 2024-03-31^v	Standalone	Number of employees
Employees	3,170	at 2023-09-30^d	Standalone	Number of employees

Periods use the dates stated in the filing. ^d = earlier-year period dated by calendar; ^v = that date confirmed by the company's own earlier filing.

Segments · 2

Segment	Item	Period	Value
Japanese Corporate And Investment Banking Business Groupgeography candidate	depreciation	2025-04-01 → 2025-09-30	¥19.4bn
Japanese Corporate And Investment Banking Business Groupgeography candidate	depreciation	2024-04-01 → 2024-09-30	¥20.4bn

Segment names come from EDINET member IDs; not yet mapped to a common taxonomy.

All source rows · 1,370

Item	Context	Value	Unit
Current portion of long term loans receivable from subsidiaries and affiliates	InterimInstant_NonConsolidatedMember	674560000000	JPY
Other ca	Prior1YearInstant_NonConsolidatedMember	91558000000	JPY
Other ca	InterimInstant_NonConsolidatedMember	98875000000	JPY
Allowance for doubtful accounts ca	Prior1YearInstant_NonConsolidatedMember	-98000000	JPY
Allowance for doubtful accounts ca	InterimInstant_NonConsolidatedMember	-83000000	JPY
Current assets	Prior1YearInstant_NonConsolidatedMember	1359600000000	JPY
Current assets	InterimInstant_NonConsolidatedMember	1143073000000	JPY
Property plant and equipment	Prior1YearInstant_NonConsolidatedMember	5194000000	JPY
Property plant and equipment	InterimInstant_NonConsolidatedMember	6850000000	JPY
Intangible assets	Prior1YearInstant_NonConsolidatedMember	28523000000	JPY
Intangible assets	InterimInstant_NonConsolidatedMember	31237000000	JPY
Investments and other assets	Prior1YearInstant_NonConsolidatedMember	20721724000000	JPY
Investments and other assets	InterimInstant_NonConsolidatedMember	22250195000000	JPY
Stocks of subsidiaries and affiliates	Prior1YearInstant_NonConsolidatedMember	9398426000000	JPY
Stocks of subsidiaries and affiliates	InterimInstant_NonConsolidatedMember	9398426000000	JPY
Long term loans receivable from subsidiaries and affiliates	Prior1YearInstant_NonConsolidatedMember	11299533000000	JPY
Long term loans receivable from subsidiaries and affiliates	InterimInstant_NonConsolidatedMember	12829058000000	JPY
Deferred tax assets	Prior1YearInstant_NonConsolidatedMember	24894000000	JPY
Deferred tax assets	InterimInstant_NonConsolidatedMember	24153000000	JPY
Other ioa	Prior1YearInstant_NonConsolidatedMember	0	JPY
Other ioa	InterimInstant_NonConsolidatedMember	0	JPY
Allowance for doubtful accounts ioa by group	Prior1YearInstant_NonConsolidatedMember	-1129000000	JPY
Allowance for doubtful accounts ioa by group	InterimInstant_NonConsolidatedMember	-1443000000	JPY
Noncurrent assets	Prior1YearInstant_NonConsolidatedMember	20755442000000	JPY
Noncurrent assets	InterimInstant_NonConsolidatedMember	22288283000000	JPY
Assets	Prior1YearInstant_NonConsolidatedMember	22115043000000	JPY
Assets	InterimInstant_NonConsolidatedMember	23431356000000	JPY
Short term loans payable	Prior1YearInstant_NonConsolidatedMember	1127981000000	JPY
Short term loans payable	InterimInstant_NonConsolidatedMember	1123866000000	JPY
Current portion of bonds	Prior1YearInstant_NonConsolidatedMember	884633000000	JPY
Current portion of bonds	InterimInstant_NonConsolidatedMember	643665000000	JPY
Current portion of long term loans payable	Prior1YearInstant_NonConsolidatedMember	22000000000	JPY
Current portion of long term loans payable	InterimInstant_NonConsolidatedMember	31000000000	JPY
Lease obligations cl	Prior1YearInstant_NonConsolidatedMember	185000000	JPY
Lease obligations cl	InterimInstant_NonConsolidatedMember	499000000	JPY
Income taxes payable	Prior1YearInstant_NonConsolidatedMember	262000000	JPY
Income taxes payable	InterimInstant_NonConsolidatedMember	2257000000	JPY
Provision cl	Prior1YearInstant_NonConsolidatedMember	1451000000	JPY
Provision cl	InterimInstant_NonConsolidatedMember	801000000	JPY
Other cl	Prior1YearInstant_NonConsolidatedMember	116228000000	JPY
Other cl	InterimInstant_NonConsolidatedMember	123577000000	JPY
Current liabilities	Prior1YearInstant_NonConsolidatedMember	2152741000000	JPY
Current liabilities	InterimInstant_NonConsolidatedMember	1925667000000	JPY
Bonds payable	Prior1YearInstant_NonConsolidatedMember	10728256000000	JPY
Bonds payable	InterimInstant_NonConsolidatedMember	12218829000000	JPY
Long term loans payable	Prior1YearInstant_NonConsolidatedMember	571000000000	JPY
Long term loans payable	InterimInstant_NonConsolidatedMember	610000000000	JPY
Lease obligations ncl	Prior1YearInstant_NonConsolidatedMember	540000000	JPY
Lease obligations ncl	InterimInstant_NonConsolidatedMember	1745000000	JPY
Long term income taxes payable	Prior1YearInstant_NonConsolidatedMember	2249000000	JPY

Every row of the EDINET CSV. Item names are the XBRL element names; filed text is kept in its original Japanese. Filed text is available on Plus and Pro.

Data checks · 24 of 24 passed

balance sheet identity	consolidated 2025-03-31	pass rounding
balance sheet identity	consolidated 2025-09-30	pass
balance sheet identity	non_consolidated 2025-03-31	pass rounding
balance sheet identity	non_consolidated 2025-09-30	pass rounding
dei present		pass
period resolution		pass
statement vs summary · net assets	consolidated 2024-03-31	pass
statement vs summary · net assets	consolidated 2024-09-30	pass
statement vs summary · net assets	consolidated 2025-03-31	pass
statement vs summary · net assets	consolidated 2025-09-30	pass
statement vs summary · net assets	non_consolidated 2024-03-31	pass
statement vs summary · net assets	non_consolidated 2024-09-30	pass
statement vs summary · net assets	non_consolidated 2025-03-31	pass
statement vs summary · net assets	non_consolidated 2025-09-30	pass
statement vs summary · net income attributable to parent	consolidated 2024-04-01/2024-09-30	pass
statement vs summary · net income attributable to parent	consolidated 2025-04-01/2025-09-30	pass
statement vs summary · operating cash flow	consolidated 2024-04-01/2024-09-30	pass
statement vs summary · operating cash flow	consolidated 2025-04-01/2025-09-30	pass
statement vs summary · revenue	non_consolidated 2024-04-01/2024-09-30	pass
statement vs summary · revenue	non_consolidated 2025-04-01/2025-09-30	pass
statement vs summary · total assets	consolidated 2025-03-31	pass
statement vs summary · total assets	consolidated 2025-09-30	pass
statement vs summary · total assets	non_consolidated 2025-03-31	pass
statement vs summary · total assets	non_consolidated 2025-09-30	pass