MATSUI SECURITIES : Financial summary for the FY2015 is updated(198KB)

Non-Consolidated Financial Summary under Japanese GAAP For the Year Ended March 31, 2016

Non-Consolidated Financial Summary under Japanese GAAP For the Year Ended March 31, 2016

Date: April 27, 2016

Company name (Stock code): Matsui Securities Co., Ltd. (8628) Stock exchange listing: Tokyo

（URLhttp://www.matsui.co.jp/ir/en/index.html）

Representative: Michio Matsui: President and Chief Executive Officer Planned date of ordinary general meeting of shareholders: June 26, 2016 Planned date of dividends payment: June 27, 2016

Planed date of filing of the annual securities report: June 20, 2016

Note: All figures in the financial statements are rounded off to the nearest millionth.

1．Non-consolidated financial summary for the year ended March 31, 2016

1. Operating results

   	Operating revenues	Net operating revenues	Operating income	Ordinary income
   Year ended March 31, 2016 Year ended March 31, 2015	Millions Yr/Yr ( ) ( ) of Yen % change 34,435 0.4 34,306 (14.0)	Millions Yr/Yr ( ) ( ) of Yen % change 33,003 0.3 32,893 (15.1)	Millions Yr/Yr ( ) ( ) of Yen % change 21,745 (1.5) 22,087 (18.5)	Millions Yr/Yr ( ) ( ) of Yen % change 21,833 (1.7) 22,202 (18.3)

   	Net income	Earnings/ Share	Fully diluted earnings/ Share	Return on equity	Ordinary income/ Total assets	Operating income/ Operating revenues
   Year ended March 31, 2016	Millions Yr/Yr ( ) ( ) of Yen % change 14,763 (5.2) 15,571 (4.5)	(Yen)	(Yen)	(%)	(%)	(%)
   		57.50	57.49	16.2	2.9	63.1
   Year ended March 31, 2015		60.65	60.64	17.8	2.9	64.4

   Investment gain and loss on equity method: Year ended March 31, 2016 None Year ended March 31, 2015 None

   	Total assets	Net assets	Equity ratio	Net assets / Share
   As of March 31, 2016	(Millions of Yen)	(Millions of Yen)	(%)	(Yen)
   	663,425	92,718	14.0	361.01
   As of March 31, 2015	817,183	90,029	11.0	350.63

2. Financial position

   Net assets - Stock acquisition rights:

   As of March 31, 2016 92,681 million yen As of March 31, 2015 90,018 million yen

3. Cash flows

	Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalent at the end of period
Year ended March 31, 2016	(Millions of Yen)	(Millions of Yen)	(Millions of Yen)	(Millions of Yen)
	43,431	(824)	(48,147)	29,865
Year ended March 31, 2015	21,871	2,068	(21,867)	35,406

2．Dividends

	Dividends per share					Annual total	Dividends payout ratio	Dividends per net assets
First quarter	Second quarter	Third quarter	Forth quarter	Fiscal
Year ended March 31, 2015	(Yen)	(Yen)	(Yen)	(Yen)	(Yen)	(Millions of Yen) 10,269 11,553	(%)	(%)
	－	20.00	－	20.00	40.00		66.0	11.7
Year ended March 31, 2016	－	25.00	－	20.00	45.00		78.3	12.6
Year ends March 31, 2017 (estimation)	－	－	－	－	－		－

3．Forecast of business results

The business results of securities brokerage companies depend on the market situation considerably, which makes it difficult to forecast the future business results. Accordingly, the Company does not issue such forecast while it discloses its monthly business information instead of such forecasts.

4．Other information

1. Changes in accounting policies, accounting estimates and restatement of corrections for the consolidated financial statements

2. Changes due to amendment of accounting standards: None

3. Changes due to other changes than above: None

4. Changes in accounting estimates: None

5. Restatement of corrections: None

6. Number of shares outstanding (common stock)

7. Number of shares outstanding including treasury stock As of March 31, 2016 259,264,702 shares

   As of March 31, 2015 269,264,702 shares

8. Number of treasury stock

   As of March 31, 2016 2,533,314 shares

   As of March 31, 2015 12,533,245 shares

9. Average number of shares outstanding

   For the year ended March 31, 2016 256,731,423 shares

   For the year ended March 31, 2015 256,731,565 shares

   Note: Audit procedure on the annual financial results by the Independent Auditor has not been completed.

   Notice to readers:

   The accompanying non-consolidated financial statements of the Company are prepared on the basis of accounting principles generally accepted in Japan, which are different in certain respects as to application and disclosure requirements of International Financial Reporting Standards.

   Non-Consolidated Financial Statements‌

10. Non-Consolidated Balance Sheets

    (Millions of Yen)

    Assets

    Current assets

    March 31, 2015 March 31, 2016

    Cash and bank deposits	15,717	26,569
    Cash segregated as deposits	462,912	375,812
    Cash in trust	20,889	4,596
    Trading assets:	1,538	1,817
    Trading securities and others	0	0
    Derivatives	1,538	1,817
    Net receivables arising from pre-settlement date trades	185	17
    Margin account assets:	284,207	232,043
    Loans receivable from customers	277,246	228,152
    Cash deposited as collateral for securities borrowed from securities	6,961	3,890
    finance companies

    Receivables on collateralized securities

    transactions: 12,0807,869

    Cash deposits collateral for securities

    borrowed 12,080 7,869

    Receivables:	27	23
    Receivables from customers	27	23
    Receivables from others	0	0
    Short-term guarantee deposits	5,736	2,166
    Advances paid	2	1
    Prepaid expenses	195	189
    Accounts receivable	1	1
    Accrued income	4,569	3,807
    Deferred income taxes	481	314
    Others	1	―
    Allowance for doubtful accounts	(11)	(7)
    Total current assets	808,528	655,217
    Fixed assets Tangible fixed assets:	1,039	953
    Buildings	211	197
    Equipment and instruments	394	321
    Land	434	434
    Intangible assets:	2,850	2,999
    Software	2,850	2,999
    Others	0	0
    Investments and others:	4,765	4,256
    Investment securities	3,975	3,119
    Investment in partnership	8	8
    Long-term loans receivable	534	507
    Long-term guarantee deposits	258	261
    Long-term prepaid expenses	7	7
    Deferred income taxes	16	587
    Long-term receivables	1,038	1,021
    Others	95	95
    Allowance for doubtful accounts	(1,165)	(1,348)
    Total fixed assets	8,655	8,208
    Total assets	817,183	663,425

    ent liabilities Trading liabilities:	1,379	458
    Trading securities and others	7	―
    Derivatives	1,371	458
    Margin account liabilities:	56,398	35,793
    Loans from securities finance
    companies	3,774	5,452
    Proceeds of securities sold on customers' account	52,624	30,341
    Payables on collateralized securities transactions:	25,558	14,838
    Cash deposits as collateral for securities loaned	25,558	14,838
    Deposits received:	261,516	200,271
    Deposits received from customers	254,377	197,048
    Others	7,138	3,222
    Guarantee money received	207,098	182,641
    Suspense account for undelivered securities	12	44
    Short-term borrowings	164,600	128,050
    Advances received	0	0
    Deferred revenue	37	35
    Accounts payable	973	379
    Accrued expenses	947	844
    Accrued income taxes	5,442	3,551
    Accrued bonuses	277	248
    Total current liabilities	724,237	567,151

    Liabilities Curr

    Long-term liabilities

    Long-term borrowings 50 ―

    Reserve for retirement bonuses for

    directors and auditors Others	3	3
    Total long-term liabilities	257	208

    204 204

    Statutory reserves

    Reserve for financial products

    transaction liabilities 2,660 3,349

    Total statutory reserves	2,660	3,349
    Total liabilities	727,155	570,707

    Net assets

    Shareholders' equity Common stock	11,945	11,945
    Capital surplus
    Additional paid-in capital	9,793	9,793
    Total capital surplus	9,793	9,793
    Earned surplus
    Earned surplus reserves Other earned surplus	159	159
    Special purpose reserves	4,250	4,250
    Earned surplus carried forward	70,734	66,384
    Total earned surplus	75,143	70,793
    Treasury stock	(9,475)	(1,915)
    Total shareholders' equity	87,406	90,616
    Valuation and translation adjustments

    Net unrealized gain (loss) on investment

    securities, net of taxes 2,613 2,066

    Total valuation and translation

    adjustments 2,613 2,066

    Stock acquisition rights	10	37
    Total net assets	90,029	92,718
    Total liabilities and net assets	817,183	663,425

11. Non-Consolidated Statements of Income

    Operating revenues

    Year ended March 31, 2015

    (Millions of Yen) Year ended March 31,

    2016

    Commissions 21,167 21,742

    Brokerage commissions 20,025 20,414 Commission for underwriting, secondary distribution and

    solicitation for selling and others for professional

    investors

    selling and others for professional investors Others	3 1,139	0 1,278
    Net gain (loss) on trading	8	6
    Interest and dividend income	13,126	12,682
    Other operating revenues	5	5
    Total operating revenues	34,306	34,435
    Interest expenses	1,413	1,431
    Net operating revenues	32,893	33,003
    Selling, general and administrative expenses Transaction related expenses	4,719	4,674
    Employees' compensation and benefits	2,030	2,178
    Occupancy and rental	878	890
    Data processing and office supplies	1,677	1,713
    Depreciation	1,246	1,175
    Duties and taxes other than income taxes	194	288
    Provision of allowance for doubtful accounts	(77)	216
    Others	138	123
    Total selling, general and administrative expenses	10,806	11,258
    Operating income	22,087	21,745
    Non-operating income Dividend income	94	76
    Others	24	14
    Total non-operating income	118	90
    Non-operating expenses Others	3	2
    Total non-operating expenses	3	2
    Ordinary income	22,202	21,833
    Special profits Gain on sales of investment securities	2,912	1,012
    Total special profits	2,912	1,012
    Special losses Provision for statutory reserves	738	689
    Loss on sales and disposals of property and equipment	48	6
    Total special losses	786	695
    Income before income taxes	24,327	22,151
    Income taxes - current	8,615	7,455
    Income taxes - deferred	142	(67)
    Income taxes	8,757	7,388
    Net income	15,571	14,763

    Fee for offering, secondary distribution and solicitation for

    ― 50

12. Non-Consolidated Statements of Changes in Net Assets

    Year ended March 31, 2015

    (Millions of Yen)

    Shareholders' equity
    Common stock	Capital surplus		Earned surplus
    	Additional paid-in capital	Total capital surplus	Earned surplus reserves	Other earned surplus		Total earned surplus
    				Special purpose reserves	Earned surplus carried forward
    Balance at the beginning of current period	11,945	9,793	9,793	159	4,250	65,433	69,841
    Changes in the current term
    Dividends from capital and earned surplus	(10,269)	(10,269)
    Net income	15,571	15,571
    Purchase of treasury stock
    Net change of items other than shareholders' equity
    Total changes of items in the current term	―	―	―	―	―	5,301	5,301
    Balance at the end of current period	11,945	9,793	9,793	159	4,250	70,734	75,143

    Shareholders' equity		Valuation and translation adjustments		Stock acquisition rights	Total net assets
    Treasury stock	Total shareholders' equity	Net unrealized gain (loss) on investment securities, net of taxes	Total valuation and translation adjustments
    Balance at the beginning of current period	(9,475)	82,104	3,260	3,260	―	85,365
    Changes in the current term
    Dividends from capital and earned surplus	(10,269)	(10,269)
    Net income	15,571	15,571
    Purchase of treasury stock	(0)	(0)	(0)
    Net change of items other than shareholders' equity	(648)	(648)	10	(637)
    Total changes of items in the current term	(0)	5,301	(648)	(648)	10	4,664
    Balance at the end of current period	(9,475)	87,406	2,613	2,613	10	90,029

    Year ended March 31, 2016

    (Millions of Yen)

    Shareholders' equity
    Common stock	Capital surplus		Earned surplus
    	Additional paid-in capital	Total capital surplus	Earned surplus reserves	Other earned surplus		Total earned surplus
    				Special purpose reserves	Earned surplus carried forward
    Balance at the beginning of current period	11,945	9,793	9,793	159	4,250	70,734	75,143
    Changes in the current term
    Dividends from capital and earned surplus	(11,553)	(11,553)
    Net income	14,763	14,763
    Purchase of treasury stock
    Cancellation of treasury stock	(7,560)	(7,560)
    Net change of items other than shareholders' equity
    Total changes of items in the current term	―	―	―	―	―	(4,350)	(4,350)
    Balance at the end of current period	11,945	9,793	9,793	159	4,250	66,384	70,793

    Shareholders' equity		Valuation and translation adjustments		Stock acquisition rights	Total net assets
    Treasury stock	Total shareholders' equity	Net unrealized gain (loss) on investment securities, net of taxes	Total valuation and translation adjustments
    Balance at the beginning of current period	(9,475)	87,406	2,613	2,613	10	90,029
    Changes in the current term
    Dividends from capital and earned surplus	(11,553)	(11,553)
    Net income	14,763	14,763
    Purchase of treasury stock	(0)	(0)	(0)
    Cancellation of treasury stock	7,560	―	―
    Net change of items other than shareholders' equity	(547)	(547)	27	(520)
    Total changes of items in the current term	7,560	3,210	(547)	(547)	27	2,690
    Balance at the end of current period	(1,915)	90,616	2,066	2,066	37	92,718

13. Non-Consolidated Statements of Cash Flows

    (Millions of Yen)

    Cash flows from operating activities

    Year ended march 31, 2015

    Year ended march 31, 2016

    Income before income taxes 24,327 22,151

    Depreciation and amortization 1,246 1,175

    Net change in allowance for doubtful accounts (209) 179

    Net change in accrued bonuses (27) (29)

    Net change in reserve for financial products

    transaction liabilities 738689

    Interest and dividend income	(12,797)	(12,269)
    Interest expenses	992	997
    Gain or loss on sales and disposals of fixed assets	48	6
    Gain or loss on sales of investment securities	(2,912)	(1,012)
    Net change in cash segregated as deposits	(121,100)	87,100
    Net change in cash in trust	(500)	(100)
    Net change in trading assets and liabilities	449	(1,200)

    Net change in net receivables and payables arising from

    pre-settlement date trades (46)167

    Net change in margin assets and liabilities 22,390 31,560 Net change in receivables on collateralized securities

    transactions (2,444) 4,211

    Net change in deposits received and receivables from customers

    and others 83,503 (61,241)

    Net change in payables on collateralized securities transactions	61	(10,721)
    Net change in guarantee money received	30,480	(24,457)
    Net change in short-term guarantee deposits	(1,615)	3,570
    Others	(105)	247
    Sub total	22,480	41,022
    Interest and dividend received	12,525	12,846
    Interest paid	(961)	(1,030)
    Income taxes paid	(12,173)	(9,407)
    Net cash flows from operating activities	21,871	43,431

    Cash flows from investing activities

    Payments for purchases of property and equipment	(9)	(169)
    Payments for purchases of intangible assets	(865)	(1,635)
    Payments for purchases of investment securities	―	(40)
    Proceeds from sales of investment securities	2,925	1,016
    Others	17	4
    Net cash flows from investing activities	2,068	(824)
    Cash flows from financing activities Net change in short-term borrowings	(11,500)	(36,500)
    Repayments of long-term borrowings	(100)	(100)
    Payments for purchase of treasury stock	(0)	(0)
    Dividends paid	(10,266)	(11,547)
    Net cash flows from financing activities	(21,867)	(48,147)
    Translation difference of cash and cash equivalent	0	(0)
    Net change in cash and cash equivalent	2,073	(5,540)
    Cash and cash equivalents at beginning of period	33,333	35,406
    Cash and cash equivalents at end of period	35,406	29,865

14. Notes on Non-Consolidated Financial Statements

15. (Notes on Going-Concern Uncertainties) No relevant items.

    (Segment Information)

    (Year ended March 31, 2016)

    Disclosures on segment information have been omitted, as the business of the Company consists of only a single segment of online brokerage service.

    (Equity in Net Income of Affiliates) No relevant items.

    (Per Share Information)

    Year ended March 31, 2016

    Net assets per share 361.01 Yen

    Earnings per share 57.50 Yen

    Fully diluted earnings per share 57.49 Yen

    Items	Year ended March 31,2016
    Net income per share
    Net income (Millions of Yen)	14,763
    Net income not attributed to common stock (Millions of Yen)	ー
    Net income attributed to common stock (Millions of Yen)	14,763
    Average number of common stock outstanding (Shares)	256,731,423
    Fully diluted earnings per share
    Increase of common stock (Shares)	64,922
    (Stock acquisition rights (Shares))	(64,922)
    The residual securities which are not considered in the calculation of fully diluted earnings per share	ー

    Note: Calculation basis of net income per share information Net income and fully diluted earnings per share

    (Subsequent Events) No relevant items.