Goldman Sachs Records 125.5 Billion Yen Revenue in Japan, Up 10% and Highest in 15 Years

According to regulatory filings, Goldman Sachs' Japanese securities subsidiary recorded net revenue of 125.5 billion yen (approximately $800 million) for the 12 months ended December 31, 2025, up 10% and marking the highest in 15 years, driven primarily by securities trading operations.

Global banks are capitalizing on Japan's financial market recovery. M&A transaction volumes in Japan surged 60% year-to-date after reaching record levels in 2025. Citigroup's Japan securities business recorded its highest revenue in at least a decade, while UBS and Bank of America also posted their strongest annual performances in Japan since 2021 and March 2014 fiscal year, respectively.