Investor Alert

Nov. 30, 2004, 1:39 a.m. EST

E-Trade Securities makes strong debut

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By Osamu Tsukimori, CBS MarketWatch.com

TOKYO (CBS.MW) - E-Trade Securities, Japan's largest online broker by accounts and assets under management, on Tuesday made a strong debut on the Jasdaq market for start-ups.

The brokerage first traded at 500,000 yen a share and ended at that price, higher than its initial offering price of 400,000 yen. The Nikkei Average fell 0.7 percent.

E-Trade Securities ( JP:8701 : news , chart , profile ), which became a subsidiary of Softbank Investment Corp. /zigman2/quotes/200067066/delayed JP:8473 -0.23% last year, has a licensing agreement with U.S.-based E Trade Financial Corp. /zigman2/quotes/210213433/composite ET +1.14%

For the fiscal first half ended Sept. 30, the company reported parent net income of 2.45 billion yen, up 225.9 percent from 750 million yen a year a year earlier. It expects to post parent net profit of 5.4 billion yen for the year ending next March.

The company said Tuesday after the market closed it will conduct a 3-for-1 stock split next year and changed its dividend forecast to 1,200 yen a share from 3,500 yen a share due partly to the stock split.

JP : Japan: Tokyo
¥ 2,591.00
-6.00 -0.23%
Volume: 2.85M
May 27, 2022 11:30a
P/E Ratio
Dividend Yield
Market Cap
¥643.91 billion
Rev. per Employee
$ 11.57
+0.13 +1.14%
Volume: 16.41M
May 26, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$35.30 billion
Rev. per Employee

Osamu Tsukimori is a reporter for CBS MarketWatch.com based in Tokyo.

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