Daiwa Securities Group Income Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Interest and Dividend Income	676,390	681,952	607,590	332,548	75,978	93,188
Net Interest Income	81,197	681,952	607,590	332,548	75,978	93,188
Brokerage Commission	416,150	368,560	320,045	251,828	274,843	248,739
Trading & Principal Transactions	-1,267	107,373	98,160	70,253	101,522	118,895
Underwriting & Investment Banking Fee	46,026	47,930	38,490	28,165	39,210	38,098
Gain on Sale of Investments (Rev)	13,045	12,360	14,381	3,692	6,048	4,808
Other Revenue	172,508	153,839	198,816	179,604	121,870	72,444
Revenue Before Loan Losses	727,659	1,372,014	1,277,482	866,090	619,471	576,172
Provision for Loan Losses	-	-	15	49	32	281
Revenue	727,659	1,372,014	1,277,467	866,041	619,439	575,891
Revenue Growth (YoY)	-7.47%	7.40%	47.51%	39.81%	7.56%	-14.32%
Salaries & Employee Benefits	247,474	245,001	222,532	199,790	198,790	193,002
Cost of Services Provided	101,054	185,676	166,636	153,425	142,248	135,104
Other Operating Expenses	148,566	14,257	12,881	10,191	10,678	11,493
Total Operating Expenses	530,702	479,247	437,190	397,903	386,527	373,519
Operating Income	196,957	892,767	840,277	468,138	232,912	202,372
Other Non-Operating Income (Expenses)	6,584	-715,334	-670,518	-390,162	-105,195	-99,566
EBT Excluding Unusual Items	212,565	224,715	174,587	86,930	135,821	115,175
Gain (Loss) on Sale of Investments	9,639	3,869	6,245	5,282	6,784	51,193
Other Unusual Items	-1,558	-9,559	-11,867	-7,682	-985	-21,859
Pretax Income	237,185	219,025	179,996	96,765	141,665	144,566
Income Tax Expense	66,999	53,932	49,561	23,082	37,521	34,915
Earnings From Continuing Ops.	170,186	165,093	130,435	73,683	104,144	109,651
Minority Interest in Earnings	-14,805	-10,725	-8,878	-9,808	-9,253	-1,255
Net Income	155,381	154,368	121,557	63,875	94,891	108,396
Net Income to Common	155,381	154,368	121,557	63,875	94,891	108,396
Net Income Growth	-5.26%	26.99%	90.31%	-32.69%	-12.46%	79.62%
Shares Outstanding (Basic)	1,398	1,409	1,431	1,467	1,505	1,522
Shares Outstanding (Diluted)	1,418	1,434	1,450	1,475	1,513	1,529
Shares Change (YoY)	-1.03%	-1.07%	-1.71%	-2.53%	-1.03%	-1.39%
EPS (Basic)	111.14	109.53	84.94	43.53	63.06	71.20
EPS (Diluted)	109.54	107.64	83.86	43.31	62.72	70.90
EPS Growth	-4.28%	28.36%	93.63%	-30.95%	-11.54%	82.17%
Free Cash Flow	-	-500,889	677,343	-231,447	-416,031	361,650
Free Cash Flow Per Share	-	-349.28	467.26	-156.93	-274.96	236.55
Dividend Per Share	57.000	56.000	44.000	23.000	33.000	36.000
Dividend Growth	7.55%	27.27%	91.30%	-30.30%	-8.33%	80.00%
Operating Margin	27.07%	65.07%	65.78%	54.05%	37.60%	35.14%
Profit Margin	21.35%	11.25%	9.52%	7.38%	15.32%	18.82%
Free Cash Flow Margin	-	-36.51%	53.02%	-26.72%	-67.16%	62.80%
Effective Tax Rate	28.25%	24.62%	27.53%	23.85%	26.49%	24.15%

Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.