Securities Companies Ranked by Operating Margin (FY2026, 11 companies)

11 companies · FY2026 results (earnings releases, consolidated)

JPX ranks first for operating margin in the Securities industry at 58.5%. The top three are JPX (58.5%), Matsui Securities (44.6%) and IwaiCosmo (40.3%).

Across the 11 companies the average is 27.5% and the median 24.7%. Nomura comes last at 11.3%, a gap of 47.2 percentage points to the leader.

4 of 11 companies are above the average.

Share prices, forecasts and results for Securities Industry

Securities Industry TOP3

1
JPXSecurities Industry58.5%
2
Matsui SecuritiesSecurities Industry44.6%
3
IwaiCosmoSecurities Industry40.3%

Companies: 11
Average: 27.5%
Median: 24.7%
All-industry average: 11.1%16.4pt difference
Above average: 4of 11

Operating margin ranking: Securities Industry

11 companies

RankCompanyAverage 27.5%Operating marginRevenueShares 1Y

1
JPX869758.5%58.5%¥198.7B+22.4%
2
Matsui Securities862844.6%44.6%¥52.7B+32.2%
3
IwaiCosmo870740.3%40.3%¥32.3B+34.4%
4
K
Kyokuto870636.5%36.5%¥8.3B−1.8%
5
JAFCO859525.9%25.9%¥21.6B−10.4%
6
Marusan Securities861324.7%24.7%¥21.7B+25.2%
7
Okasan860919.6%19.6%¥95.6B+46.1%
8
Tokai Tokyo861615.2%15.2%¥97.7B+38.3%
9
Daiwa860114.1%14.1%¥1.5T+42.8%
10
JSF851112.3%12.3%¥114.2B+18.4%
11
Nomura860411.3%11.3%¥4.8T+35.8%

Shares 1Y is a closing-price reference (vs. about a year earlier).

Financials and pay compared

The same companies on other measures

Rank	Company	Operating margin	Average salary	Revenue	Operating profit
1	JPX8697	58.5%	¥11.1M	¥198.7B	¥116.3B
2	Matsui Securities8628	44.6%	¥11.5M	¥52.7B	¥23.5B
3	IwaiCosmo8707	40.3%	-	¥32.3B	¥13.0B
4	Kyokuto8706	36.5%	¥8.38M	¥8.3B	¥3.0B
5	JAFCO8595	25.9%	¥13.7M	¥21.6B	¥5.6B
6	Marusan Securities8613	24.7%	¥7.73M	¥21.7B	¥5.4B
7	Okasan8609	19.6%	¥11.3M	¥95.6B	¥18.7B
8	Tokai Tokyo8616	15.2%	¥7.90M	¥97.7B	¥14.8B
9	Daiwa8601	14.1%	¥16.3M	¥1.5T	¥207.3B
10	JSF8511	12.3%	¥10.2M	¥114.2B	¥14.0B
11	Nomura8604	11.3%	¥14.2M	¥4.8T	¥539.8B

Revenue and operating profit are from the latest full-year consolidated results. Average salary is for the reporting entity per its annual securities report; pure holding companies with fewer than 50 staff are excluded.