【10 min FY2019 3rd Quarter Earnings】
FY20193rd Quarter Earnings Presentation
For the third quarter, our operating profit was up 21.9% year on year, and our base earnings, which represents our company's stable earnings foundation, was also up by 6.7% year on year.
The biggest factors supporting this growth is due to an increase in our performance fees as well as management fees.
Our assets under management, or AUM, for funds that earn a management fee higher than our average overall fee rate, such as our Japanese public investment trusts and the Mirai Creation funds, have grown since last fiscal year.
As a result, our management fees less commissions rose from 6.1 billion yen last year to 6.6 billion yen this year, contributing to the growth in both our base earnings and operating profit.
Sharing a common investment philosophy, we invest in Japanese and Asian equities, as well as renewable energy projects and venture startup companies.
As a result, we are building a diversified business portfolio that offers stable growth even if stock markets become more volatile.
In other words, even if stock markets enter a protracted downturn, the negative impact on our business as a whole will be less compared to the past.
We are pleased that the firm's foundation to generate stable base earnings is continuing to become stronger.