Mirae Asset Securities reports cumulative net profit of 2.5 trillion won, plans to retire treasury shares worth 1.4 trillion won

[Financial News] Mirae Asset Securities posted strong cumulative profit growth through the third quarter this year and is moving to deliver substantial returns to shareholders. The company plans to enhance shareholder value by retiring treasury shares and implementing a mid- to long-term shareholder return policy.
According to Mirae Asset Securities on the 12th, its consolidated net profit for the first three quarters of this year totaled 2.5016 trillion won, up 148% from the same period last year. Pretax profit for the same period rose 156% to 3.3657 trillion won. Its annualized return on equity (ROE), based on net profit, was 24%, up 13 percentage points from a year earlier.
Overseas subsidiaries also saw their results grow. Their cumulative pretax profit reached 713 billion won, up 138% year on year and a record high for the first three quarters.
Alongside its earnings growth, the company is also moving to retire treasury shares worth about 1.4 trillion won. Mirae Asset Securities plans to retire 65 million of the 108,338,501 treasury common shares it holds—about 60% of the total—immediately after next year’s annual shareholders’ meeting. The plan will take into account the relevant systems and procedures, and the shares to be retired are worth about 1.4 trillion won based on the closing price on the 11th. The company will consider further retirements or using the remaining treasury shares to fund shareholder returns.
A Mirae Asset Securities representative explained, “We have been reviewing various ways to use the treasury shares we have held since the merger, in a manner consistent with the purpose of the Commercial Act and that enhances shareholder value.”
Mirae Asset Securities has implemented shareholder return policies in three-year cycles since 2018 to improve the predictability and sustainability of its shareholder returns. Since 2021, it has returned at least 2.2 trillion won to shareholders through dividends and treasury-share retirements, recording a shareholder return ratio of about 40% over the past two years. It also announced a new shareholder return policy for 2027–2029. As under the existing policy, the company plans to return at least 35% of its consolidated adjusted net profit to shareholders through dividends, treasury-share purchases and other means.
However, standalone results for the third quarter were in the red, reflecting a slowdown in market trading activity and valuation losses on investment assets. The company posted a consolidated pretax loss of 520.6 billion won and a net loss of 405.6 billion won. The company said, “Recurring profit excluding third-quarter PI investment losses was about 380 billion won.”
A company representative said, “Building on the know-how and experience we have gained as we expanded overseas, we will step up our efforts to bring forward the time to profitability in developed markets as well and turn that into tangible results. We will return profits generated through local investments and business at our overseas subsidiaries to our domestic headquarters as dividends and actively use them to fund shareholder returns.”

[email protected] Choi Doo-seon Reporter