Interim report
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Note : This document has been translated from the Japanese original for reference purposes only . In the event of any discrepancy between this translated document and the Japanese original , the original shall prevail . Consolidated Financial Results for the Six Months Ended June 30 , 2026 ( Under Japanese GAAP ) Company name : GMO Financial Holdings , Inc. Listing : Tokyo Stock Exchange Securities code : 7177 URL : https://www.gmofh.com/ Representative : Hideyuki Takashima , Representative Executive Officer , Chairman , President and CEO Inquiries : Tatsuki Yamamoto , Senior Executive Officer , CFO Telephone : + 81-3-6221-0183 Scheduled date to file semi - annual securities report : August 5 , 2026 Scheduled date to commence dividend payments : September 18 , 2026 Preparation of supplementary material on financial results : Yes Holding of financial results briefing : Yes ( For analysts and institutional investors only / webcast only ) August 5 , 2026 FASE ( Yen amounts are rounded down to millions , unless otherwise noted . ) 1. Consolidated financial results for the six months ended June 30 , 2026 ( from January 1 , 2026 to June 30 , 2026 ) ( 1 ) Consolidated operating results ( cumulative ) ( Percentages indicate year - on - year changes . ) Net operating Operating revenue Operating profit Ordinary profit revenue Profit attributable to owners of parent | Millions of Six months ended % June 30 , 2026 yen 29,544 26,893 Millions of yen Millions of 9.9 2.9 27,095 25,026 % 8.3 3.6 yen 10,350 % 5.9 Millions of yen Millions of 9,776 97.7 10,261 9,054 % 13.3 yen 6,524 % 5.0 104.4 6,211 298.6 ¥ 6,125 million [ 2.0 % ] ¥ 6,002 million [ 160.4 % ] Diluted earnings per share June 30 , 2025 Note : Comprehensive income Six months ended June 30 , 2026 June 30 , 2025 For the six months ended June 30 , 2026 : For the six months ended June 30 , 2025 : Basic earnings per share Yen 55.30 52.65 Yen Note : Diluted net income per share for the six months ended June 30 , 2026 is not presented because there were no dilutive potential shares . Diluted net income per share for the six months ended June 30 , 2025 is not presented because there were no potential shares outstanding . ( 2 ) Consolidated financial position As of June 30 , 2026 December 31 , 2025 Reference : Equity As of June 30 , 2026 : Total assets Net assets Equity - to - asset ratio Millions of yen 1,315,649 1,406,809 Millions of yen 56,677 53,017 % 4.3 3.8 ¥ 56,622 million ¥ 52,846 million As of December 31 , 2025 :
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22222..... CCCCCaaaaassssshhhhh dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss Annual dividends per share First quarter-end Second quarter-end Third quarter-end Fiscal year-end Total Yen Yen Yen Yen Yen Fiscal year ended 13.80 20.43 14.87 8.48 57.58December 31, 2025 Fiscal year ending 13.69 14.45December 31, 2026 Fiscal year ending December 31, 2026 (Forecast) 14.45 14.45 57.04 Note: Revisions to the forecast of cash dividends most recently announced: None 33333..... CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd fffffiiiiinnnnnaaaaannnnnccccciiiiiaaaaalllll rrrrreeeeesssssuuuuulllllttttt fffffooooorrrrreeeeecccccaaaaassssstttttsssss fffffooooorrrrr ttttthhhhheeeee fffffiiiiissssscccccaaaaalllll yyyyyeeeeeaaaaarrrrr eeeeennnnndddddiiiiinnnnnggggg DDDDDeeeeeccccceeeeemmmmmbbbbbeeeeerrrrr 3333311111,,,,, 22222000002222266666 (((((fffffrrrrrooooommmmm JJJJJaaaaannnnnuuuuuaaaaarrrrryyyyy 11111,,,,, 22222000002222266666 tttttooooo DDDDDeeeeeccccceeeeemmmmmbbbbbeeeeerrrrr 3333311111,,,,, 22222000002222266666))))) The principal businesses of the Company and its consolidated subsidiaries, namely the Securities & FX business and the Crypto Asset business, are significantly affected by economic and market conditions. Therefore, it is difficult to prepare consolidated financial forecasts. Accordingly, the Company does not disclose consolidated financial forecasts. To provide investors with supplementary information, the Company discloses on a monthly basis key operating indicators that have a significant impact on its financial results, including FX trading volume, equity trading value, CFD trading value, crypto asset trading value, and the number of customer accounts, as well as operating revenue. ***** NNNNNooooottttteeeeesssss (1) Significant changes in the scope of consolidation during the period: Yes Newly included: 1 company( GMO Small Amount and Short Term Insurance Company, Inc. ) Excluded: - companies( ) Note: GMO Small Amount and Short Term Insurance Company, Inc. was renamed from LASHIC Small Amount and Short Term Insurance Company, Inc. on March 27, 2026. (2) Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements: None (3) Changes in accounting policies, changes in accounting estimates, and restatement (i) Changes in accounting policies due to revisions to accounting standards and other regulations: None (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates: None (iv) Restatement: None (4) Number of issued shares (common shares) (i) Total number of issued shares at the end of the period (including treasury shares) As of June 30, 2026 122,091,903 shares As of December 31, 2025 122,091,903 shares (ii) Number of treasury shares at the end of the period As of June 30, 2026 4,102,599 shares As of December 31, 2025 4,102,585 shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) Six months ended June 30, 2026 117,989,309 shares Six months ended June 30, 2025 117,989,360 shares * Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm. * Proper use of earnings forecasts, and other special matters The Company’s basic policy is to provide continuous and stable quarterly dividend payments. Under this policy, the Company has set a dividend payout ratio of at least 65% of profit attributable to owners of parent and, in addition, has set a consolidated dividend on equity ratio (DOE) floor of 10%. Based on this policy, the Company plans to pay an annual dividend of ¥57.04 per share for the fiscal year ending December 31, 2026, payable in quarterly installments. For further details, please refer to the “Notice Regarding Preliminary Consolidated Financial Results for the Second Quarter of the Fiscal Year Ending December 31, 2026 and Revision to Dividend Forecast (Dividend Increase)” disclosed on July 27, 2026. The Company plans to hold a live-streamed financial results briefing on August 5, 2026. A video recording of the briefing will be made available on the Company’s website promptly after the event.
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Semi-annual Consolidated Financial Statements and Primary Notes Semi-annual Consolidated Balance Sheet (Millions of yen) As of December 31, 2025 As of June 30, 2026 Assets Current assets Cash and deposits 138,894 112,143 Segregated deposits 537,644 545,410 Crypto asset under custody 360,426 248,760 Margin transaction assets 94,810 129,640 Loans secured by securities 12,940 5,627 Short-term guarantee deposits 69,294 81,415 Variation margin paid 115,378 128,040 Other 43,598 30,240 Allowance for doubtful accounts (355) (220) Total current assets 1,372,631 1,281,058 Non-current assets Property, plant and equipment 1,300 1,335 Intangible assets Goodwill 8,133 7,674 Other 6,476 5,996 Total intangible assets 14,609 13,670 Investments and other assets Deferred tax assets 2,924 3,436 Other 34,716 35,271 Allowance for doubtful accounts (19,372) (19,122) Total investments and other assets 18,267 19,584 Total non-current assets 34,177 34,591 Total assets 1,406,809 1,315,649 Liabilities Current liabilities Margin transaction liabilities 28,349 28,792 Borrowings secured by securities 9,602 11,973 Deposits received 71,934 63,481 Deposits received for crypto asset 360,426 248,760 Guarantee deposits received 584,409 608,821 Variation margin received 24,819 26,608 Short-term borrowings 138,900 137,200 Current portion of bonds payable 9,826 11,026 Current portion of long-term borrowings 12,785 18,730 Income taxes payable 2,681 4,105 Provision for bonuses 220 311 Provision for bonuses for directors (and other officers) - 343 Other 28,513 27,756 Total current liabilities 1,272,470 1,187,911
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(Millions of yen) As of December 31, 2025 As of June 30, 2026 Non-current liabilities Bonds payable 26,036 15,023 Long-term borrowings 53,780 54,223 Deferred tax liabilities 200 111 Retirement benefit liability 144 128 Reserve for contract of insurance - 7 Provision for loss on liquidation of subsidiaries and associates - 205 Other 276 279 Total non-current liabilities 80,437 69,978 Reserves under special laws Reserve for financial instruments transaction liabilities 884 1,081 Total reserves under special laws 884 1,081 Total liabilities 1,353,792 1,258,972 Net assets Shareholders' equity Share capital 705 705 Capital surplus 2,253 2,361 Retained earnings 48,977 52,885 Treasury shares (2,297) (2,297) Total shareholders' equity 49,638 53,655 Accumulated other comprehensive income Valuation difference on available-for-sale securities 495 336 Deferred gains or losses on hedges 157 138 Foreign currency translation adjustment 2,554 2,491 Total accumulated other comprehensive income 3,207 2,966 Share acquisition rights - 17 Non-controlling interests 170 37 Total net assets 53,017 56,677 Total liabilities and net assets 1,406,809 1,315,649
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Semi-annual Consolidated Statements of Income and Comprehensive Income Semi-annual Consolidated Statement of Income (Millions of yen) For the six months ended June 30, 2025 For the six months ended June 30, 2026 Operating revenue Commission received 2,346 1,433 Net trading income 20,244 22,362 Financial revenue 2,921 4,228 Other operating revenue 74 20 Other sales 1,307 1,498 Total operating revenue 26,893 29,544 Financial expenses 1,433 1,981 Cost of sales 434 466 Net operating revenue 25,026 27,095 Selling, general and administrative expenses Trading related expenses 6,244 6,623 Personnel expenses 2,600 3,291 Real estate expenses 1,999 2,078 Office expenses 1,570 2,066 Depreciation 982 984 Taxes and dues 762 1,001 Provision of allowance for doubtful accounts 390 (11) Amortization of goodwill 535 547 Other 162 163 Total selling, general and administrative expenses 15,249 16,745 Operating profit 9,776 10,350 Non-operating income Derivative income 115 92 Dividend income 50 56 Gain on investments in investment partnerships 10 56 Other 51 119 Total non-operating income 227 324 Non-operating expenses Foreign exchange losses 813 338 Loss on investments in investment partnerships 109 69 Bond issuance costs 24 - Other 2 5 Total non-operating expenses 950 413 Ordinary profit 9,054 10,261
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(Millions of yen) For the six months ended June 30, 2025 For the six months ended June 30, 2026 Extraordinary income Reversal of reserve for financial instruments transaction liabilities 10 - Other 0 - Total extraordinary income 11 - Extraordinary losses Provision of reserve for financial instruments transaction liabilities - 197 Loss on valuation of investment securities - 71 Loss on retirement of non-current assets 4 10 Loss on compensation for customer 36 - Impairment losses 0 - Other - 2 Total extraordinary losses 41 282 Profit before income taxes 9,023 9,978 Income taxes - current 3,439 4,109 Income taxes - deferred (524) (496) Total income taxes 2,914 3,613 Profit 6,109 6,365 Loss attributable to non-controlling interests (102) (158) Profit attributable to owners of parent 6,211 6,524
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Semi-annual Consolidated Statement of Comprehensive Income (Millions of yen) For the six months ended June 30, 2025 For the six months ended June 30, 2026 Profit 6,109 6,365 Other comprehensive income Valuation difference on available-for-sale securities 34 (158) Deferred gains or losses on hedges 23 (18) Foreign currency translation adjustment (164) (63) Total other comprehensive income (107) (240) Comprehensive income 6,002 6,125 Comprehensive income attributable to Comprehensive income attributable to owners of parent 6,104 6,283 Comprehensive income attributable to non-controlling interests (102) (158)
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Semi-annual Consolidated Statement of Cash Flows (Millions of yen) For the six months ended June 30, 2025 For the six months ended June 30, 2026 Cash flows from operating activities Profit before income taxes 9,023 9,978 Depreciation 982 984 Impairment losses 0 - Amortization of long-term prepaid expenses 92 96 Amortization of goodwill 535 547 Increase (decrease) in allowance for doubtful accounts 225 (57) Increase (decrease) in provision for bonuses (273) 90 Increase (decrease) in provision for bonuses for directors (and other officers) (43) 343 Increase (decrease) in provision for loss on liquidation of subsidiaries and associates - 205 Increase (decrease) in reserve for financial instruments transaction liabilities (10) 197 Interest and dividend income (506) (513) Interest expenses on borrowings and bonds 1,109 1,541 Loss on retirement of non-current assets 4 10 Loss (gain) on valuation of investment securities - 71 Loss (gain) on investments in investment partnerships 99 13 Decrease (increase) in segregated deposits 14,829 (7,726) Decrease (increase) in crypto asset under custody 5,217 111,666 Decrease (increase) in margin transaction assets 13,995 (34,830) Decrease (increase) in loans secured by securities 1,034 7,313 Decrease (increase) in short-term guarantee deposits 7,216 (12,114) Decrease (increase) in variation margin paid (17,363) (12,647) Increase (decrease) in margin transaction liabilities (1,707) 443 Increase (decrease) in borrowings secured by securities (2,947) 2,370 Increase (decrease) in deposits received 1,634 (8,452) Increase (decrease) in deposits received for crypto asset (5,217) (111,666) Increase (decrease) in guarantee deposits received 3,070 24,357 Increase (decrease) in variation margin received (6,300) 1,787 Other, net (605) 12,670 Subtotal 24,098 (13,317) Interest and dividends received 549 512 Interest paid (1,096) (1,517) Income taxes paid (2,888) (2,735) Income taxes refund 33 40 Net cash provided by (used in) operating activities 20,696 (17,017) Cash flows from investing activities Payments into time deposits (5) (126) Proceeds from withdrawal of time deposits 1,641 6 Purchase of property, plant and equipment (175) (227) Purchase of intangible assets (388) (333) Purchase of investment securities (200) (1,950) Purchase of shares of subsidiaries resulting in change in scope of consolidation - (87) Other, net 4 380 Net cash provided by (used in) investing activities 877 (2,338)
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(Millions of yen) For the six months ended June 30, 2025 For the six months ended June 30, 2026 Cash flows from financing activities Net increase (decrease) in short-term borrowings (25,327) (1,700) Proceeds from long-term borrowings 19,300 10,600 Repayments of long-term borrowings (17,657) (4,211) Proceeds from issuance of bonds 4,975 - Redemption of bonds (13) (9,813) Purchase of treasury shares (0) (0) Dividends paid (2,237) (2,618) Proceeds from share issuance to non-controlling shareholders 149 133 Repayments of lease liabilities (0) (0) Net cash provided by (used in) financing activities (20,810) (7,609) Effect of exchange rate change on cash and cash equivalents (276) 93 Net increase (decrease) in cash and cash equivalents 486 (26,871) Cash and cash equivalents at beginning of period 115,753 138,821 Cash and cash equivalents at end of period 116,240 111,949