SBI Holdings’ crypto asset revenue falls 30.1%… Group-wide revenue rises 17.2%

SBI Holdings (TSE: 8473) reported that revenue from its virtual currency business fell 30.1% year-on-year to ¥23.083 billion in the April–September 2026 first half, according to its interim earnings disclosure released Tuesday, while group-wide revenue rose 17.2% to a first-half record of ¥1,057.515 billion. The crypto segment's pre-tax loss widened to ¥1.595 billion from ¥147 million a year earlier, even as group pre-tax profit jumped 52.9% to ¥324.306 billion. Financial services revenue—spanning securities, banking, and insurance—grew 17.3% to ¥829.746 billion, underscoring that the group's growth is being driven by traditional finance rather than digital assets. The divergence highlights persistent pressure on Japanese crypto operations amid the broader market slowdown. Investors will watch whether SBI's crypto unit, which spans exchanges and asset management ventures, can return to profitability in the second half or whether losses deepen further.