External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives.

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

Equity Bottom-Up

<ul><li>Three reasons guidance appears conservative Offline: Product portfolio/channel expansion APR delivered a 4Q25 earnings surprise, yet its shares have experienced heightened volatility</li><li>We attribute this to the company’s cautious guidance relative to elevated market expectations</li><li>Investor questions during the company’s recent NDR centered on future growth potential and strategic direction, and based on management’s responses, we view the guidance as conservative and readily achievable</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Three reasons guidance appears conservative Offline: Product portfolio/channel expansion APR delivered a 4Q25 earnings surprise, yet its shares have experienced heightened volatilityWe attribute this to the company’s cautious guidance relative to elevated market expectationsInvestor questions during the company’s recent NDR centered on future growth potential and strategic direction, and based on management’s responses, we view the guidance as conservative and readily achievableContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

APR (278470 KS/買い)ガイダンスが保守的であると思われる3つの理由