Q3 2025 Daiwa Securities Group Inc Earnings Call Transcript

Jan 31, 2025 / 06:30 AM GMT

Release Date Price: $7.24 (+4.90%)

Transcript

Key Points

Positve

Daiwa Securities Group Inc (DSECF) reported a 0.3% increase in net operating revenues for Q3, indicating growth in their financial performance.
The wealth management division showed a real increase in both revenue and profit, driven by increased sales of equity investment trusts and wrap account service contracts.
The asset management division achieved a record profit, with gains in real estate and alternative asset management.
Global markets and investment banking divisions saw significant profit increases, particularly in the ECM business and domestic M&A.
Overseas operations reported a 72.6% increase in ordinary income, with strong performance in Europe, Asia, and Oceania.

Negative

Ordinary income decreased by 13.5% compared to the previous quarter, excluding certain gains.
Profit attributable to owners of the parent company decreased by 13.3%.
SG&A expenses increased by 4.2%, driven by higher personnel expenses and trading-related costs.
Daiwa Next Bank's ordinary income declined by 22.5% due to factors like spread compression.
Real estate asset management saw a 21.3% decrease in net operating revenues.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

8601.T - Daiwa Securities Group Inc
Q3 2025 Daiwa Securities Group Inc Earnings Call
Jan 31, 2025 / 06:30AM GMT

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Presentation
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Unidentified_1 [1]
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I am Yoshida from Driver Securities Group. Thank you for taking the time out of your busy schedule to join our telephone conference today.

I will now explain the financial results for the third quarter of fiscal 2024 announced today. In accordance with the explanatory materials posted on our website, please turn to page 4.

First, I will explain the summary of the consolidated financial results.

Percentage figures represent changes from the second quarter of fiscal 2024 net operating revenues for Q3 were JPY161.5 billion. An increase of 0.3% and ordinary income was JPY63 billion. A decrease of 13.5% excluding the gain on negative goodwill arising from acquisition of a ZA bank shares and the

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