Earnings call transcript: Mirae Asset Securities posts q3 loss as stock falls 4.5%

Mirae Asset Securities reported a Q3 2026 loss of KRW 520.6 billion and a net loss of KRW 405.6 billion, following a strong year-to-date performance. The company's stock dropped 4.54% to $21,050 after closing the previous day at $22,050, near its 52-week range of $19,706-$87,800. The loss was driven by a KRW 514 billion valuation loss on SpaceX and other investments.

Despite the decline, cumulative profits for the nine months were record highs, with a pre-tax profit of KRW 3.3657 trillion and net profit of KRW 2.5016 trillion, representing 156% and 148% year-over-year growth, respectively. Core businesses remained profitable even after excluding valuation losses. The company outlined plans for overseas expansion, including Japan, Singapore, the U.S. and Australia, along with digital asset initiatives.

Management highlighted strong underlying operations and rising client assets under management, though domestic brokerage and investment banking revenue fell sharply due to weak market activity.