New Medium-term Management Plan
New Medium-Term Management Plan “Attack 3”
We at Ichiyoshi Securities Co., Ltd. (the “Company”) have now formulated a new medium-term management plan “Attack 3” with its target date set for the end of March 2023 in order to expand horizontally the foundation of the Company so far built.
Under this management plan, we aim to expand customers’ assets in custody to 3 trillion yen during a 3-year period through March 2023. About 20 years ago, we changed our business model from “flow-based type” chiefly based on brokerage commissions to “asset-accumulation type” mainly based on trailer fees and wrap-account fees, for which the “cost-coverage ratio” is a main indicator of business operations. We have now set a new target for the “cost-coverage ratio.”
Set forth below are the outlines of numerical targets, period and strategies for the new medium-term management plan “Attack 3.”
1. Numerical targets for “Attack 3”:
Customers’ assets in custody: 3 trillion yen
ROE: Approximately 15%
Number of lead-managed companies: 80
Cost-coverage ratio: 60%*
*Ratio at which the sum of trailer fees and wrap-account fees covers operating cost and expenses.
2. Period for “Attack 3”: 3 years from April 2020 to March 2023.