Japan · Delayed Price · Currency is JPY Daiwa Securities Group Earnings Call Transcripts
Fiscal Year 2026
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Q4 FY2025 delivered record profits and strong growth in Wealth Management and Asset Management, with annualized ROE at 11.5%. The acquisition of ORIX Bank is set to boost stable revenues and enhance synergies, while capital adequacy remains robust.
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Q3 FY2025 saw record net operating revenues and strong growth across Wealth Management, Asset Management, and Global Markets, with robust M&A and Fund Wrap inflows. Annualized ROE reached 11%, and the outlook remains positive with continued momentum into Q4.
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Q2 FY2025 saw double-digit growth in revenues and profits, with record results in wealth management and M&A. Asset management AUM grew, though alternative assets faced impairments. Strong equity markets and client flows continue into Q3, supporting a positive outlook.
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Q1 FY2025 saw a decline in revenues and profits due to fewer large deals and market volatility, but base income remained strong and asset management segments achieved record AUM. System improvements followed a major unauthorized access incident, and July showed signs of recovery in market activity.
Fiscal Year 2025
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Q4 FY2024 saw net operating revenues rise 7.9% sequentially, but ordinary income fell 19.1% due to fewer deal exits. Wealth Management and Investment Banking posted strong inflows and record revenues, while market volatility and impairments impacted alternatives and FICC.
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Q3 FY2024 saw modest revenue growth and strong base income, with record cumulative ordinary income and robust performance across wealth management, asset management, and investment banking. Management remains confident in exceeding midterm targets, prioritizing growth investments and financial soundness.
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Q2 FY2024 saw strong sequential growth in revenues and profits, with record half-year income and robust asset inflows, especially from existing clients. Wealth management and asset management segments showed resilience despite market volatility, while M&A and alternative assets contributed to earnings.
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Q1 FY2024 saw net operating revenues fall 9.4% and ordinary income drop 33.5% sequentially, with strong asset inflows in wealth management and record AUM in securities asset management. Despite lower profits in some segments, base income rose 20% year-over-year, and management remains focused on stable, customer-centric growth.