Matsui Securities Co., Ltd...Annual Results for 3Q FY2013 1 Table of Contents Section 1 Financial...
Transcript of Matsui Securities Co., Ltd...Annual Results for 3Q FY2013 1 Table of Contents Section 1 Financial...
January 2014
Matsui Securities Co., Ltd. (First Section of TSE: 8628)
Annual Results for 3Q FY2013
1
Table of Contents
Section 1 Financial Summary 5
Section 2 Results of Operation 14
Section 3 Recent Developments 23
3.3% 3.4%3.6% 3.6% 3.7%
0.0%
1.0%
2.0%
3.0%
4.0%
3QFY12
4Q 1QFY13
2Q 3Q
168
293
318309
327
9.9% 10.3%10.7%
9.2%9.5%
0%
2%
4%
6%
8%
10%
12%
0
100
200
300
3QFY12
4Q 1QFY13
2Q 3Q
(JPY bn)
10.6
7.8
6.66.2
6.0
10.0
9.1
9.7 9.9
4
6
8
10
12
3QFY12
4Q 1QFY13
2Q 3Q
2.4
7.0
13.3
8.5
8.7
1.6
3.7 3.2
3.5
7.5%
9.3%
10.4% 10.7%
9.8%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
0
2
4
6
8
10
12
14
3QFY12
4Q 1QFY13
2Q 3Q
(JPY tn) Margin Account for day-trades
2
Results of Operation ◆ Equity commission rate
◆ Net interest income ratio
(bp)
(Excluding “Margin
Account for day-trades”)
◆ Equity trading value / Market share
◆ Margin balance / Market share
44%
65%
73%67% 67%
0%
20%
40%
60%
80%
3QFY12
4Q 1QFY13
2Q 3Q
1,221
3,416
5,802
3,633 3,682
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
3QFY12
4Q 1QFY13
2Q 3Q
(JPY mn)
2,011
5,511
9,625
6,041 6,106
0
2,000
4,000
6,000
8,000
10,000
12,000
3QFY12
4Q 1QFY13
2Q 3Q
(JPY mn)
4,519
8,469
13,152
9,037 9,173
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
3QFY12
4Q 1QFY13
2Q 3Q
(JPY mn)
3
Financial Results ◆ Operating revenues ◆ Ordinary income
◆ Net income ◆ Ordinary income ratio
112
156
336
291244
165154
129110
152
370
55
93
193189 173
128121
107 93
129
320
49%
60%57%
65%71%
78%79%83% 84% 84% 86%
0%
20%
40%
60%
80%
100%
0
50
100
150
200
250
300
350
400
FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13(Annualize)
(JPY tn)
Equity trading value of individuals
Equity trading value of 7 on-line brokers
Proportion of trading value of 7 on-line brokers
8184
118109
77
54
68 63 63
7684
4.4 6.311.4 10.6 9.0 7.4
9.8 10.3 10.7 14.016.0
5.5%
7.4%
9.6%9.8%
11.7%
13.6%
14.3%
16.3%17.0%
18.3%19.0%
0%
5%
10%
15%
20%
0
50
100
150
FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY132Q
(JPY tn)
Equity holdings by individuals
Equity holdings by 5 on-line brokers
Proportion of equity holdings by 5 on-line brokers
4
Overview of Retail Equity Trading Market
◆Equity trading value of individuals1
(FLOW)
◆ Equity holdings by individuals1
(STOCK)
Super active
traders2
JPY 230 tn
(Estimate)
Source : TSE, BOJ, Company data, Company Website
Note 1 : 5 on-line brokers are Matsui, SBI, Rakuten, Monex and Kabu.com
Note 1: 7 on-line brokers include the 5 brokers and GMO Click and Okasan Online
Note 2 : Super active traders : number of trades per month is over 100 times
Financial Summary
Section 1
(JPY mn)
Operating Revenues 31,363 12,330 2.5×
Commissions 21,954 7,776 2.8×
Interest & dividend income 9,396 4,550 2.1×
864 656 1.3×
Net operating revenues 30,499 11,674 2.6×
8,809 6,977 1.3×
21,690 4,697 4.6×
21,772 4,734 4.6×
13,117 3,010 4.4×
69% 38% -
30.4 5.6 5.4×
2.9 1.2 2.4× Daily average trading
value on TSE (JPY tn)
Net income
Ordinary income ratio
Matsui's trading value (JPY tn)
SG&A
Operating income
Ordinary income
Interest expenses
YoY3Q(Apr.-Dec.)
FY2013
3Q(Apr.-Dec.)
FY2012
6
Source: TSE
Summary of Financial Results (3Q FY13)
(JPY mn)
Commissions 21,954 7,776 2.8×
21,111 7,046 3.0×
Equity 19,320 6,156 3.1×
Futures & Options 1,193 677 1.8×
838 725 1.2×
Net gain (loss) on trading 10 0 -
Interest & dividend income (1) 9,396 4,550 2.1×
Total operating revenues 31,363 12,330 2.5×
Interest expenses (2) 864 656 1.3×
Net operating revenues 30,499 11,674 2.6×
Net interest income (1) - (2) 8,532 3,894 2.2×
Average margin balance (JPY bn) 312 157 2.0×
3Q(Apr.-Dec.)
FY2012YoY
Brokerage
Others
3Q(Apr.-Dec.)
FY2013
7
Breakdown of Net Operating Revenues (3Q FY13)
(JPY mn)
Transaction related expenses 3,717 2,243 66%
411 342 20%
1,607 1,366 18%
Occupancy & rental 685 696 -1%
1,325 1,229 8%
Depreciation 1,227 1,336 -8%
186 76 146%
-63 -56 -
Others 125 88 41%
Total SG&A 8,809 6,977 26%
Advertisement
Employees'
compensation & benefits
Data processing
& office supplies
Duties & taxes
other than income taxes
Provision of allowance
for doubtful accounts
3Q(Apr.-Dec.)
FY2013
3Q(Apr.-Dec.)
FY2012YoY
8
Breakdown of SG&A (3Q FY13)
(JPY mn)
Operating Revenues 9,173 9,037 2% 13,152 8,469 4,519 2.0× 20,799
Commissions 5,977 6,052 -1% 9,925 6,389 3,057 2.0× 14,165
3,192 2,983 7% 3,220 2,105 1,461 2.2× 6,654
274 239 15% 352 228 203 1.3× 884
Net operating revenues 8,900 8,799 1% 12,800 8,241 4,316 2.1× 19,915
2,825 2,771 2% 3,213 2,742 2,307 1.2× 9,719
6,075 6,028 1% 9,587 5,499 2,009 3.0× 10,195
6,106 6,041 1% 9,625 5,511 2,011 3.0× 10,245
3,682 3,633 1% 5,802 3,416 1,221 3.0× 6,427
67% 67% - 73% 65% 44% - 49%
8.7 8.5 2% 13.3 7.0 2.4 3.7× 12.6
2.7 2.4 12% 3.5 2.5 1.3 2.0× 1.5
FY12
TOTALYoY
3Q 2Q 1Q 4Q 3Q
FY13
Ordinary income ratio
Matsui's trading value (JPY tn)
QoQ
SG&A
Operating income
Ordinary income
Interest & dividend income
Net income
Daily average trading
value on TSE (JPY tn)
Interest expenses
FY13 FY12FY13
9
Summary of Financial Results (Quarterly)
Source: TSE
(JPY mn)
Commissions 5,977 6,052 -1% 9,925 6,389 3,057 2.0× 14,165
Brokerage 5,728 5,749 -0% 9,634 6,026 2,833 2.0× 13,072
Equity 5,238 5,276 -1% 8,807 5,479 2,501 2.1× 11,635
Futures & Options 302 306 -1% 585 396 251 1.2× 1,074
Others 249 298 -16% 291 363 223 1.1× 1,088
Net gain (loss) on trading 3 1 109% 6 -26 0 9.2× -26
Interest & dividend income (1) 3,192 2,983 7% 3,220 2,105 1,461 2.2× 6,654
Total operating revenues 9,173 9,037 2% 13,152 8,469 4,519 2.0× 20,799
Interest expenses (2) 274 239 15% 352 228 203 1.3× 884
Net operating revenues 8,900 8,799 1% 12,800 8,241 4,316 2.1× 19,915
0
Net interest income (1) - (2) 2,919 2,745 6% 2,868 1,877 1,257 2.3× 5,770
315 302 4% 318 224 151 2.1× 173
TOTAL
FY13FY13
3Q
FY12
2Q 1Q 4QYoY
3QQoQ
Average margin balance (JPY bn)
FY13 FY12
10
Breakdown of Net Operating Revenues (Quarterly)
(JPY mn)
Transaction related expenses 1,158 1,154 0% 1,406 1,113 770 50% 3,356
Advertisement 126 139 -10% 146 196 108 16% 538
616 485 27% 506 466 455 35% 1,832
Occupancy & rental 235 222 6% 228 229 230 2% 925
449 438 3% 438 396 406 11% 1,625
Depreciation 400 399 0% 428 452 441 -9% 1,788
45 68 -34% 74 40 22 108% 116
-115 -32 - 84 20 -40 - -36
Others 38 39 -1% 48 26 24 57% 114
Total SG&A 2,825 2,771 2% 3,213 2,742 2,307 22% 9,719
FY12
3Q 2Q 1Q 4Q 3Q TOTAL
FY13 FY13QoQ YoY
Provision of allowance
for doubtful accounts
Employees'
compensation & benefits
Data processing
& office supplies
Duties & taxes
other than income taxes
FY13 FY12
11
Breakdown of SG&A (Quarterly)
(JPY mn)
Tier 1 (A) 78,921
Tier 2 Net unrealized gain on investment 3,863
Statutory reserves 1,735
Allowance for doubtful accounts 11
Sub total (B) 5,610
Assets to be deducted from equity capital (C) 4,788
(A) + (B) - (C) (D) 79,743
Total risk Market risk 965
Counterparty risk 6,795
Basic risk 2,536
Total (E) 10,297
Capital adequacy ratio (D)/(E) 774.3%
Net Capital168
293
318309
327
1,288%
847% 817% 791% 774%
0%
200%
400%
600%
800%
1,000%
1,200%
1,400%
0
100
200
300
400
3QFY12
4Q 1QFY13
2Q 3Q
(JPY bn)
Margin trading balance Capital adequacy ratio
12
Capital Adequacy Ratio
◆ Capital adequacy ratio
(As of 31 December 2013)
◆ Margin trading balance and capital
adequacy ratio
15 15 15 20 20
3050%
71%
90%
80%
0%
20%
40%
60%
80%
100%
0
10
20
30
40
50
60
FY09 FY10 FY11 FY12 FY13(Plan)
(Yen)
Year-end dividend Interim dividend
Payout ratio
13
◆ Matsui’s dividend per share and payout ratio
In accordance with the booming market conditions, we paid interim dividend
of 30 yen per share for FY13.
We plan to pay year-end dividend of 20 yen per share for FY13.
◆ Dividends for FY13
• Maintain the performance based return to the
shareholders
• Target of payout ratio is “30% and above”
• Interim : Pay 30 yen per share
• Year-end : Plan to pay 20 yen per share
◆ Dividend policy
Shareholders Return
Results of Operation
Section 2
28
42
27 2823
3224 22
31
75
127
79
8817%
19%
17%17%18%
19%
16%17%
19%
27%
29%28%
27%
0%
10%
20%
30%
0
20
40
60
80
100
120
140
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
(JPY tn)
Retail equity trading value
Proportion to total equity trading value
2.3
3.3
2.0 2.0 1.72.4
1.7 1.6
2.4
7.0
13.3
8.58.7
8% 8%
7% 7% 7% 7%7% 7%
8%
9%
10% 11%
10%
0%
2%
4%
6%
8%
10%
12%
0
2
4
6
8
10
12
14
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
(JPY tn)
Matsui's trading value Matsui's share
15
Equity Trading Value
◆ Matsui’s equity trading value and
its market share1
◆ Retail equity trading value1 and
proportion to total equity trading value
Source: TSE
Note 1: Sum of the equity trading value on 2 major stock exchanges
FY13 FY10 FY13 FY10 FY11 FY11 FY12 FY12
17
24
16 1614
19
14 14
18
46
78
5051
58%
56%58%
59%60%
58%
61% 61%58%
61% 61%63%
58%
30%
40%
50%
60%
70%
0
20
40
60
80
100
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
(JPY tn)
Retail margin trading value
Proportion to retail equity trading value
1.52.0
1.2 1.21.0
1.51.1 1.0
1.4
4.9
9.7
6.4 6.4
9%9%
7% 7% 8%8%
7%7%
8%
11%
12%13%13%
0%
5%
10%
15%
0
2
4
6
8
10
12
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
(JPY tn)
Matsui's margin trading value Matsui's share
16
Margin Trading Value
◆ Matsui’s margin trading value and
its market share1
◆ Retail margin trading value1 and
proportion to total retail equity trading value
FY10 FY10
Source: TSE
Note 1: Sum of the equity trading value on 2 major stock exchanges
FY13 FY13 FY11 FY11 FY12 FY12
1.41.5 1.6
1.4 1.4 1.41.5
1.3 1.3
2.4 2.8 3.0 3.1
22%
19%18%
20%21%
22%
20%
23%
24%
20%
18%18%18%
0%
5%
10%
15%
20%
25%
0
1
2
3
4
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
(JPY tn)
Total shares bought on margin trading
Proportion of general margin trading
13
6
13
8 15
0
13
4
13
1
12
6 14
4
12
3
13
2
24
8
29
8
27
4 29
1
51
45 47
44
44
43
43
43 47
75 8
3
76 80
10%9% 10% 9% 9%
9%10% 9%
10%10%
11%
9% 9%
0%
2%
4%
6%
8%
10%
12%
0
100
200
300
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
(JPY bn)
Shares bought on margin Unlimited Matsui's share
17
Margin Trading Balance
◆ Matsui’s shares bought on margin1
and its market share2
◆Total shares bought on margin1 and
proportion of general margin trading
Source: TSE
Notes 1: Balance as of the end of each quarter
Notes 2: Total market share in 2 major stock exchanges
FY10 FY13 FY10 FY13 FY11 FY11 FY12 FY12
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
-60%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
Oct-05 Jun-06 Feb-07 Oct-07 Jun-08 Feb-09 Oct-09 Jun-10 Feb-11 Oct-11 Jun-12 Feb-13 Oct-13
(JPY tn)
Matsui's shares bought on margin (right axis) Average (left axis)
Institutional (left axis) Unlimited (left axis)
Shares listed on the emerging markets (left axis)
18
Unrealized Losses on Matsui’s Margin Balance
As of 24 January 2014
Average -3.9%
Institutional margin balance -2.6%
Unlimited margin balance -7.8%
Margin balance of shares listed on the emerging
markets -4.3%
0.63
0.91
0.55
0.57
0.50
0.69
0.48 0.46
0.65
1.63
2.73
1.64
1.59
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
(X)
1
51
15 40
16
10 29
17
11 26
25
-2 -12
1,3
17
1,2
80
1,2
55
1,1
66
1,1
42
1,3
17
1,2
28
1,1
92 1,4
11
1,7
16
1,8
04 1,9
34
2,0
64
0
4,000
8,000
12,000
16,000
20,000
0
500
1,000
1,500
2,000
2,500
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
(JPY yen)(JPY bn)
Assets under Matsui's customers' accounts
Net inflow in cash and stocks
Nikkei 225
19
Assets under Customers’ Accounts / Trading Turnover
◆ Assets under Matsui’s customers’ accounts
◆ Equity trading turnover1 of Matsui’s
customers
Note 1: Equity trading turnover = (monthly average trading value) / (quarterly average assets
under customers’ accounts*)
* assets under customers’ accounts of Matsui’s related persons are excluded
Note 2: Nikkei 225 is the closed price at the end of each quarter
FY12 FY10 FY13 FY10 FY13 FY11 FY11 FY12
0%
20%
40%
60%
80%
100%
FY06 FY07 FY08 FY09 FY10 FY11 FY12 3QFY13
Before FY99 FY00 FY01 FY02 FY03
FY04 FY05 FY06 FY07 FY08
FY09 FY10 FY11 FY12 FY13
Dec.201347%
0%
20%
40%
60%
80%
700,000
740,000
780,000
820,000
860,000
900,000
940,000
Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13
# of accounts # of new accounts Proportion of beginner
20
Number of Accounts / Breakdown of Trading Value
◆ Breakdown of trading value by customers
opening the accounts in each fiscal year
Note 1: Number of accounts as of the end of each month. Dormant accounts were closed down 5,009 in Sep.2012
◆ Number of accounts at Matsui1
# of accounts 920,698
# of margin accounts 144,303
(as of 31 Dec. 2013)
3.84.3
2.02.9 2.7
4.1 4.0 3.94.7
9.0
15.5
8.49.2
1.5 1.60.8 1.2 1.2 1.9 2.1 1.9
2.5
4.8
9.2
5.3 5.5
17%16%
15%15%15%
19%18%
20%21%
20%20%20%20%
0%
5%
10%
15%
20%
25%
0.0
4.0
8.0
12.0
16.0
20.0
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
(JPY tn)
Futures trading value"Nikkei 225 mini"Futures trading valueMatsui's share
87
134 130
84
50
2738
29 35
148
375
231
291
0
100
200
300
400
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
(JPY bn)
Overseas Futures trading value
21
Futures trading value
◆ Matsui’s OSE Nikkei 225 Futures
trading value and its market share
FY10
◆ Matsui’s Overseas Futures
trading value (CME)
Source: OSE (Osaka Securities Exchange)
FY13 FY11 FY11 FY10 FY13
19 Jul. 2011
Extension of
trading hours
FY12 FY12
25 Nov. 2011
Lower commissions
for Nikkei 225
Futures trading
18 Feb. 2013
Add new products such as equity
and commodity indices
65
3 7
48
86
9
81
3
55
9 6
57
27
1
18
9 27
0
50
0
65
7
33
7
29
9
122
137
148
128
8896
54
3847
83
104
53
43
0
40
80
120
160
0
300
600
900
1,200
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
(JPY mn)(JPY bn)
The OSE's FX trading value The OSE's FX commission
0.7 0.7
1.21.4
1.1
1.4
1.20.8
1.3
4.3
5.0
3.02.9
163170
85
124119
136
8776
81
160
135
74 73
0
100
200
300
0.0
1.0
2.0
3.0
4.0
5.0
6.0
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
(JPY mn)(JPY tn)
NetFx trading value NetFx commission
22
FX Margin Trading
◆Matsui’s OTC FX trading value and
commission
◆The OSE’s FX trading value in Matsui
and commission
4 Apr. 2011
No commission charge
and spread tightening
were implemented
FY10 FY11 FY10 FY11 FY12 FY12 FY13 FY13
Recent Developments
Section 3
24
Corporate Strategy
◆ Pioneer in providing full-fledged online brokerage services in Japan
◆ Pioneer in providing online margin trading in Japan
◆ "Box Rate" fee structure
◆ Pioneer in developing unlimited margin trading
◆ Pioneering approach to "NetFx" "Nikkei 225 futures and
Nikkei 225 Options“
◆ Pioneer in providing specific application available for smartphone
◆ Introduced “Margin Account for Day-trades”
We will provide superior quality of trading platform for retail
investors based upon "customer-centered strategy"
Our Achievements
◆ Develop unique and innovative services
◆ Focus on brokerage business
◆ Pursue the services which expand brokerage (flow) business
rather than asset gathering related (stock) services
Our Direction
Our Purpose
0.4 0.5 0.6 1.1
1.5
1.1 1.2 1.0 0.9 1.2 1.0
1.2
29%
34% 35% 36% 36%
45%47%
54%50%
54% 53%55%
20%
30%
40%
50%
60%
70%
0
1
2
3
4
5
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
(JPY tn)
Margin trading(Margin Account for Day-trades) Margin trading
Proportion of Margin Account for Day-trades
24%
51%54% 53%
59%60%
68% 66%69%
65%68%65% 68%
31% 30%29%
37% 38%
43%
38%35%
32% 31%27%
30%
10%
20%
30%
40%
50%
60%
70%
80%
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Margin trading
Margin trading(Margin Account for Day-trades)
42%
52% 53% 51%55% 56% 57%
59% 60%
65% 65% 65%
20%
30%
40%
50%
60%
70%
80%
0
200
400
600
800
1,000
1,200
1,400
1,600
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
(JPY bn)
New customers Existing customers Proportion of new customers
Commisson 0Yen
Interest rate p.a.
Due date One day
Number of accounts 29,681(as of Dec. 30)
25
◆Outline of Margin Account for Day-trades
JPY3mn or above 0%
Under JPY3mn 2%
Trading value per an order rate
◆Margin Trading Results
◆Trading Results of Margin Account
for Day-trades(New VS Existing)
◆Proportion of “Day -trades”
Note 1: If the positions are not closed within a single day, the Company would close the positions the following day.
Note 2: The customers who have opened new account since Jan. 2013, or hadn’t traded in 2012.
Note 3: The customers who are not New customers identified as Note 2.
1
2 3
Margin Account for Day-trades I
2012 2013
2013
2012 2013
8.3%
11.5%
17.8%17.6%
8.3% 7.7%
9.4%
8.9%
10.2%9.5%
7.4%
3.3%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
Sep-1
2
Oct-
12
Nov-1
2
Dec-1
2
Jan-1
3
Feb-1
3
Mar-
13
Apr-
13
May-1
3
Jun-1
3
Jul-13
Aug-1
3
Sep-1
3
Oct-
13
Nov-1
3
Dec-1
3
Matsui SBI RakutenMonex Kabu.com GMO ClickOkasan Online
38.6%
41.5%
28%
30%
32%
34%
36%
38%
40%
42%
44%
46%
Matsui SBI RakutenMonex Kabu.com GMO ClickOkasan Online
26
◆Market share 1
Plan to implement continuous improvements of
the service, such as increase number of shares
eligible for short-position etc.
• Add 204 shares eligible for short-position
• Add the conditional orders such as “market-on-
close order”, “stop order”, etc.
• Add the trading function of “Margin Account for
Day-trades” to “KABU touch”, the trading
application for smartphone
◆Recent Developments
◆ Future Developments
(730 shares as of Jan. 14, 2014)
Note 1: Total market share of each company in 7 on-line brokers.
Margin Account for Day-trades II
•Upgrade of ranking by trading value for day-trades
• Free of charge campaign for margin account for
day-trades(Jan. 6 to Mar. 31, 2014)
~No commission charge and no interest rate~
●Daily average (unit: # of trades)
Weekly 6-Jan 14-JanVS
6-Jan20-Jan
VS
6-Jan
Euity trading 279,771 308,768 1.1x 301,447 1.1x
44 stocks 10,327 16,417 1.6x 19,265 1.9x
Margin Account for
Day-trades94,249 109,979 1.2x 109,508 1.2x
44 stocks 2,667 6,975 2.6x 9,926 3.7x
●Daily average (unit: JPY bn)
Weekly 6-Jan 14-JanVS
6-Jan20-Jan
VS
6-Jan
Euity trading 170 188 1.1x 196 1.2x
44 stocks 20 30 1.4x 34 1.7x
Margin Account for
Day-trades70 79 1.1x 90 1.3x
44 stocks 6 13 2.0x 19 2.9x
●44 stocks(daily average) (unit: JPY bn、# of times)
Weekly 6-Jan 14-JanVS
6-Jan20-Jan
VS
6-Jan
Equity trading value 720 706 -2% 697 -3%
Tick 103,967 212,707 2.0x 207,874 2.0x
Up tick 13,408 51,747 3.9x 50,262 3.7x
Down tick 13,353 52,221 3.9x 50,931 3.8x
Trading value per
an order
Interest rate
p.a.
Interest rate
p.a.
JPY3mn or above 0%
Under JPY3mn 2% 0%1
27
◆Market trends for 44 stocks
TSE has applied small tick on 44 stocks among TOPIX100 since January
14, 2014. Trading value for the 44 stocks has been significantly increased.
◆Matsui’s trends①(trading value)
・The number of tick for 44 stocks has increased by 2-fold
(The number of up tick and down tick has increased by 4-fold each)
・Expand the trading opportunities by taking the margin easily
◆Free of charge campaign (Jan. to Mar. 2014)
◆ Matsui’s trends②(number of trades)
Note1 : Stock price is more than 3,000 yen as of Jan. 24, 2014.
Margin Account for Day-trades III
Small tick will be applied for all stocks of
TOPIX100 in July 2014
Details of Newly Offered Services
Campaign/Promotion Improvement in Quality of
Services to Customers
◆Cash back campaign for OSE FX trading
(2013/7/1-2014/1/1) Discount commission charge for the customers who
open new account
◆Campaign for ETF ・Cash back campaign for cash trading(2013/12/2-12/30)
・Starting campaign for trading ETF(2014/1/6-1/31)
◆Free of charge campaign for margin account
for day-trades (2014/1/6-3/31) No commission charge and no interest rate
◆Introduce the online cash transfer services
at Sony Bank (2013/11/15-)
◆Upgrade ranking by trading value for
day-trade in margin account for day-trades
(2013/12/19-)
◆Introduce the information for ETF
(2014/1/4-) Enable to search ETF shares easily and compare the
performance with similar mutual funds, etc
◆No commission charge of equity trading on
NISA* accounts (2014/1/6-) *NISA: Japanese version of Individual Savings Account
28
The material is intended to provide the financial results for the quarter ended 31 December 2013 and
the company‘s business strategy, and does not constitute a solicitation of an offer to buy the securities
issued by the company. The material is created based upon information as of January 2014. The
information herein identifies our views at the time of creation of the material, and the company does
not make any representation or warranty as to its accuracy or completeness, therefore, the information
may be changed without any notices. The company does not assume responsibility for any omissions
or errors of any data and descriptions in the material.
This presentation may contain forward looking information. Please keep in mind that they are based on
projections of the company and subject to changes depending on the situation. We will under no
circumstances assume the obligation to revise this presentation in case such situation occurs.
Matsui Securities Co., Ltd. URL: http://www.matsui.co.jp/ir/en/
Tel: +81-3-5216-0784 Fax: +81-3-5216-8638
Mail: [email protected]
Akira WARITA, Managing Director : [email protected]
Kumiko HAYASHI : [email protected]
Contact information