Q1 2025 Daiwa Securities Group Inc Earnings Call Transcript
Key Points
- Wrap account service contracts reached a record high on a quarterly basis in the wealth management division.
- Net inflow of investment trusts remained high, with asset-based revenues steadily increasing to a record high.
- Securities Asset Management achieved record high AUM and increased revenues and profits.
- Fixed income revenues increased due to large-sized bond sales in the wealth management division.
- Base income, comprised of ordinary income from wealth management and securities asset management divisions, was up by around 20% year on year.
- Net operating revenues for Q1 were JPY149.1 billion, down 9.4% from Q4 of FY 2023.
- Ordinary income dropped by 33.5% to JPY37.7 billion.
- Profit attributable to owners of the parent company was down 39.4% to JPY23.9 billion.
- Global markets saw a decline in revenues and equities due to lower activity from individual investors.
- Ordinary income for overseas operations totaled JPY2.2 billion, down 50.5% Q-on-Q.
I am Kotaro Yoshida from Daiwa Securities Group. Thank you for taking time out of your busy schedule today to attend our telephone conference. I will now explain the financial results for Q1 of FY 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 consolidated financial results presented figures represent changes from Q4 of FY 2023. Net operating revenues for Q1 was JPY149.1 billion, down 9.4%. Ordinary income was JPY37.7 billion, dropped by 33.5%.
In the wealth management division, despite lower revenues and profits the wrap account service contracts reached a record high on a quarterly basis. Net purchases, net inflow of investment trusts also remain high, with asset-based revenues steadily increasing to a record high.
In the asset management division, securities Asset Management achieved record high AUM and increase revenues and profits, while real estate asset management and
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