Business Description
The group reports its top line as commissions, trading gains, net financial income and principal-investment results rather than as product divisions, but the operating shape is clear enough. Daiwa Securities serves retail investors through a nationwide branch network and institutions through equity and bond underwriting, M&A advisory and trading. Around it sit Daiwa Asset Management, one of Japan's larger fund houses; Daiwa Next Bank, an online bank that funds the group cheaply; a real-estate asset-management arm; and Daiwa Energy & Infrastructure, which invests the firm's own capital in power and infrastructure assets.
Retail brokerage earnings rise and fall with Japanese equity turnover and with household risk appetite, so a flat market compresses commissions quickly; management's answer has been to grow recurring asset-management fees, banking income and principal investment returns, which now carry a large share of profit. Interest rates matter in both directions — they lift net financial income but also mark the group's bond inventory. Daiwa was established in December 1943 through a wartime merger of two Osaka securities houses, adopted a holding-company structure in 1999 — the first in the Japanese securities industry — and is listed on both the Tokyo and Nagoya exchanges. The fiscal year ends in March.
Corporate Data
| Ticker | 8601 |
|---|---|
| Exchange | Tokyo Stock Exchange |
| Size Category | TOPIX Mid400 |
| Market Segment | Prime Market |
| Sector | Securities & Commodity Futures |
| Head Office | Gran Tokyo North Tower, 1-9-1 Marunouchi, Chiyoda-ku, Tokyo 100-6751, Japan |
| Founded | December 27, 1943 |
| Fiscal Year End | March 31 |
| Website | Official website |