XML 78 R39.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
SEGMENT REPORTING
 12 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The following tables summarize the Group's Statement of Operations by its reportable segments. There are no revenues from transactions between the segments and intercompany balances have been eliminated for separate disclosure:
Year ended March 31, 2024
STATEMENTS OF OPERATIONS
Brokerage
Banking
Insurance
Other
Total
Fee and commission income
$352,481 $26,236 $296 $61,320 $440,333 
Net gain/(loss) on trading securities33,483 87,459 14,114 (1,202)133,854 
Interest income233,858 524,596 63,676 6,094 828,224 
Insurance underwriting income— — 264,218 — 264,218 
Net (loss)/gain on foreign exchange operations
(852)78,174 (1,306)(3,771)72,245 
Net (loss)/gain on derivative
(2,019)(101,805)— 30 (103,794)
TOTAL REVENUE, NET616,951 614,660 340,998 62,471 1,635,080 
Fee and commission expense$24,740 $13,219 $103,346 $13,046 $154,351 
Interest expense89,732 368,286 29,965 13,128 501,111 
Insurance claims incurred, net of reinsurance— — 139,561 — 139,561 
Payroll and bonuses71,077 48,953 18,796 42,197 181,023 
Professional services6,977 527 561 26,173 34,238 
Stock compensation expense11,352 6,124 2,755 2,488 22,719 
Advertising expense25,353 4,828 789 7,357 38,327 
General and administrative expense40,847 30,804 5,413 43,824 120,888 
Allowance for expected credit losses
2,962 16,399 942 922 21,225 
Other income, net
(5,003)(1,210)(3,603)(3,918)(13,734)
TOTAL EXPENSE268,037 487,930 298,525 145,217 1,199,709 
INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS$348,914 $126,730 $42,473 $(82,746)$435,371 
Income tax expense(51,158)(15,857)(8,662)15,258 (60,419)
NET INCOME/(LOSS) FROM CONTINUING OPERATIONS$297,756 $110,873 $33,811 $(67,488)$374,952 
Year ended March 31, 2023
STATEMENTS OF OPERATIONS
Brokerage
Banking
Insurance
Other
Total
Fee and commission income
$299,070 $18,208 $128 $9,809 $327,215 
Net gain/(loss) on trading securities
20,736 55,437 16,063 (21,152)71,084 
Interest income64,654 177,561 41,007 11,473 294,695 
Insurance underwriting income— — 115,371 — 115,371 
Net (loss)/gain on foreign exchange operations
(347)59,190 (1,846)(4,843)52,154 
Net gain/(loss) on derivative
463 (65,291)— 2 (64,826)
TOTAL REVENUE, NET384,576 245,105 170,723 (4,711)795,693 
Fee and commission expense33,126 9,097 22,824 613 65,660 
Interest expense43,089 130,693 18,492 16,673 208,947 
Insurance claims incurred, net of reinsurance1 — 77,328 — 77,329 
Payroll and bonuses37,583 21,749 11,733 10,754 81,819 
Professional services4,978 466 580 10,982 17,006 
Stock compensation expense5,648 372 279 2,994 9,293 
Advertising expense9,063 3,251 1,191 554 14,059 
General and administrative expense32,906 13,671 5,024 8,370 59,971 
Allowance for expected credit losses
16,911 8,773 1,071 2,364 29,119 
Other (income)/expense, net
(904)(230)(2,346)32 (3,448)
TOTAL EXPENSE182,401 187,842 136,176 53,336 559,755 
INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS$202,175 $57,263 $34,547 $(58,047)$235,938 
Income tax (expense)/benefit
(32,632)(7,832)(5,106)2,794 (42,776)
INCOME/(LOSS) FROM CONTINUING OPERATIONS
$169,543 $49,431 $29,441 $(55,253)$193,162 
Year ended March 31, 2022
STATEMENTS OF OPERATIONS
Brokerage
Banking
InsuranceOtherTotal
Fee and commission income
$327,052 $7,000 $83 $1,076 $335,211 
Net gain/(loss) on trading securities
32,376 19,204 (1,093)104,765 155,252 
Interest income35,204 54,438 31,455 512 121,609 
Insurance underwriting income— — 72,981 — 72,981 
Net gain/(loss) on foreign exchange operations1,249 2,439 1,812 (1,709)3,791 
Net (loss)/gain on derivative
(319)1,265 — — 946 
TOTAL REVENUE, NET395,562 84,346 105,238 104,644 689,790 
Fee and commission expense67,005 5,849 12,666 389 85,909 
Interest expense20,934 42,429 11,498 2,086 76,947 
Insurance claims incurred, net of reinsurance— — 54,447 — 54,447 
Payroll and bonuses25,838 9,387 6,510 4,553 46,288 
Professional services2,885 749 558 8,490 12,682 
Stock compensation expense4,190 314 236 3,119 7,859 
Advertising expense9,647 378 1,857 34 11,916 
General and administrative expense11,970 4,840 4,788 1,935 23,533 
Allowance for expected credit losses89 2,120 293 — 2,502 
Other (income)/expense, net
(110)539 2,702 883 4,014 
TOTAL EXPENSE142,448 66,605 95,555 21,489 326,097 
INCOME BEFORE INCOME TAX FROM CONTINUING OPERATIONS
$253,114 $17,741 $9,683 $83,155 $363,693 
Income tax expense
(27,810)(655)(41)(10,064)(38,570)
INCOME FROM CONTINUING OPERATIONS
$225,304 $17,086 $9,642 $73,091 $325,123 
The following tables summarize the Company's total assets and total liabilities by its business segments. Intercompany balances have been eliminated for separate disclosure:
March 31, 2024
Brokerage
Banking
Insurance
Other
Total
Total assets$2,586,803 $4,939,626 $529,517 $245,984 $8,301,930 
Total liabilities1,973,887 4,389,745 402,865 368,475 7,134,972 
Net assets$612,916 $549,881 $126,652 $(122,491)$1,166,958 
March 31, 2023
Brokerage
Banking
Insurance
Other
Total
Total assets$1,212,163 $3,248,245 $470,337 $153,813 $5,084,558 
Total liabilities1,024,888 2,769,981 385,952 133,001 4,313,822 
Net assets$187,275 $478,264 $84,385 $20,812 $770,736 
Brokerage
Companies in the Brokerage segment offer securities brokerage, securities dealing for customers and for our own account, market making activities, investment research, investment counseling, underwriting and market-making services to a global client base of corporations, investors, financial institutions, merchants, government and municipal entities. Companies in the Brokerage segment also conduct proprietary securities trading.

The Group's services in this segment include providing clients with access to the world's largest stock exchanges and a gateway to global investment opportunities. Additionally, the Group's offerings in this segment include professional securities analytics, empowering clients with valuable insights and market intelligence to make informed investment decisions. To ensure a seamless experience, the Group provides user-friendly trading applications that offer convenience and flexibility.
Banking
Company in the Banking segment generates banking service fees by providing services that include lending, deposit services, payment card services, money transfers, correspondent accounts, supporting both individual and corporate clients with innovative digital financial solutions. To ensure a seamless experience, it provides user-friendly trading applications that offer convenience and flexibility. Companies in the Banking segment also conduct proprietary securities trading activities.
Insurance
Companies in the Insurance segment offer products including life insurance, obligatory insurance, tourist medical health insurance and auto insurance. These insurance products are designed to offer comprehensive coverage and tailored solutions to protect individuals, property, auto and businesses in the event of unforeseen events or risks. Companies in the Insurance segment also conduct proprietary securities trading activities.
Other

Activities of companies in the Other segment include provision of payment processing services, financial educational center services, financial intermediary center services, financial consulting services, administrative management services, telecommunication services information processing services, entertainment ticketing sales, online air and railway ticket purchase aggregation and an online retail trade and e-commerce application.. The Other segment also includes transactions conducted by the Company in connection with repurchase agreements.