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Daiwa Securities Group H1 FY2026 Earnings Presentation

36 Folien

Teil von Investorenpräsentationen als Beispiel · Beispiele für japanische Investorenpräsentationen

Daiwa Securities Group H1 FY2026 Earnings Presentation (fiscal Q2, April–September 2026): a 36-page Japanese-language results deck (2026年度 第2四半期 決算説明資料) dated October 30, 2026 and published on TDnet, the Tokyo Stock Exchange's Timely Disclosure network. It reports record first-half ordinary income of ¥166.3 billion (+69.9% YoY) and net income attributable to owners of ¥107.8 billion (+36.6%), net operating revenues of ¥444.3 billion (+35.5%), base profit of ¥125.2 billion against a ¥150 billion medium-term target, an annualized ROE of 12.0%, a record interim dividend of ¥39, and the first quarter of consolidating ORIX Bank into the Wealth Management division.

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Daiwa Securities Group
Daiwa Securities
8601
Earnings presentation
H1 FY2026

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Beschreibung

Hauptthema

Daiwa Securities Group H1 FY2026 Earnings Presentation (fiscal Q2, April–September 2026): a 36-page Japanese-language results deck (2026年度 第2四半期 決算説明資料) dated October 30, 2026 and published on TDnet, the Tokyo Stock Exchange's Timely Disclosure network. It reports record first-half ordinary income of ¥166.3 billion (+69.9% YoY) and net income attributable to owners of ¥107.8 billion (+36.6%), net operating revenues of ¥444.3 billion (+35.5%), base profit of ¥125.2 billion against a ¥150 billion medium-term target, an annualized ROE of 12.0%, a record interim dividend of ¥39, and the first quarter of consolidating ORIX Bank into the Wealth Management division.

Hauptvorteile

  • •Complete Japanese broker-dealer results pack: highlights, consolidated summary, segment tables, balance sheet, Basel III capital and liquidity ratios, P&L, SG&A and cost structure, overseas earnings, and segment deep dives
  • •Shows how a Japanese securities group reports in ¥100 million (億円) and ¥ billion (十億円) units, with quarter-on-quarter and year-on-year change columns on every table
  • •Documents the shift toward recurring revenue: base profit, stock-based (残高ベース) revenue, fixed-cost coverage ratio of 128.4%, wrap account and equity investment trust net inflows
  • •Covers a bank acquisition in its first consolidated quarter (ORIX Bank inside Daiwa Next Bank), including goodwill-adjusted contribution and loan book composition
  • •Appendix includes league tables, client assets of ¥118.7 trillion, account counts, net asset inflows, VaR, headcount and the standalone Daiwa Securities P&L

Zielgruppe

  • •Equity analysts and investors covering Japanese brokers and financial groups
  • •Investor relations teams at Japanese and Asian financial institutions benchmarking results-deck structure
  • •Finance students and researchers studying wealth management, asset management and investment banking economics in Japan
  • •Consultants and strategists tracking the shift from brokerage commissions to recurring asset-based revenue
  • •Presentation designers building data-dense, table-heavy earnings decks

Anwendungsfälle

  • •Reference model for a quarterly or half-year earnings presentation of a diversified securities group
  • •Template for segment reporting across wealth management, asset management, and global markets & investment banking
  • •Benchmark data for Japanese brokerage peers (Nomura, SMBC Nikko, Mizuho Securities) on ROE, base profit and league-table share
  • •Example of disclosing an acquisition's first-quarter consolidation impact on revenue, SG&A and headcount
  • •Training material for reading Japanese financial statements and Basel III capital and liquidity disclosures

Einzigartige Wertversprechen

  • •English page-by-page breakdown of a Japanese-only TDnet filing, with key yen figures translated and units preserved
  • •Every one of the 36 pages summarized with its actual metrics, from the H1 record results to VaR and staff numbers
  • •Clean corporate design: white background, navy table headers, light-blue highlighted current-quarter columns and Daiwa's red PASSION FOR THE BEST badge
  • •Available as both the original PDF and an editable PPTX conversion

Folien-Seiten (36)

Detaillierte Ansicht jeder Folien-Seite, einschließlich Layout, wichtigem Inhalt und visuellen Elementen.

Seite 1
Title slide

Cover: FY2026 Q2 Earnings Presentation (2026年度 第2四半期 決算説明資料)

Inhalt

Title slide for Daiwa Securities Group Inc.'s fiscal 2026 second-quarter results materials, dated Friday, October 30, 2026, with a Japanese disclaimer that the document is for information on results through Q2 and management vision, not a solicitation to invest, and reflects information available as of October 30, 2026.

Layout-Struktur

Large Japanese title left-aligned in the middle, date and company name below, small-print disclaimer at the bottom, sweeping blue ribbon graphic on the right edge, Daiwa wordmark top right and red PASSION FOR THE BEST badge bottom right.

Wichtige visuelle Elemente

  • •Blue curved ribbon graphic
  • •Daiwa Securities Group Inc. wordmark
  • •Red PASSION FOR THE BEST badge
  • •Disclaimer paragraph
Seite 2
Agenda

Contents and Definitions

Inhalt

Agenda listing results summary (p.3-4), performance overview (5-8), balance sheet and financial base (9-10), income statement (11), SG&A (12-13), overseas business (14), segment information (15-23) and appendix (24-36). A glossary defines WM (Wealth Management), AM (Asset Management), GM&IB (Global Markets & Investment Banking), GM, GIB, base profit (ordinary income of WM, securities AM and real estate AM), stock-based revenue (fund agency fees, advisory/account management fees, bank agency fees, etc.) and FICC.

Layout-Struktur

Bulleted table of contents with dotted leaders and page ranges in the upper half; two-column definitions table in the lower half.

Wichtige visuelle Elemente

  • •Dotted-leader contents list
  • •Abbreviation definitions table
  • •Navy title underline bar
Seite 3
Executive summary / key highlights

H1 FY2026 Highlights (Year-on-Year)

Inhalt

Headline: ordinary income and net income are first-half records and every division grew profit; earnings power has stepped up and ORIX Bank consolidation adds stability. H1 net operating revenues ¥444.3 billion (4,443億円, +35.5%), ordinary income ¥166.3 billion (+69.9%), net income attributable to owners ¥107.8 billion (+36.6%). Base profit ¥125.2 billion (+60.2%), already over 80% of the ¥150 billion medium-term plan target. WM ordinary income ¥77.0 billion (+56.2%, half-year record) with record stock-based revenue of ¥74.2 billion; Daiwa Next Bank ordinary income ¥21.9 billion (+117.8%) with ORIX Bank consolidated from Q2 (July–September). AM ordinary income ¥54.2 billion (+102.1%), with securities AM AUM and profit at records. GM&IB ordinary income ¥38.4 billion (+93.8%). H1 ROE 12.0%. Record interim dividend of ¥39 (payout ratio 50.3%).

Layout-Struktur

Underlined two-line headline, a three-row comparison table (H1 FY2026 vs H1 FY2025 vs YoY change) on navy headers, then square-bulleted divisional highlights and an underlined dividend callout at the bottom, all on a light grey-blue panel.

Wichtige visuelle Elemente

  • •YoY comparison table
  • •Square bullet points with sub-arrows
  • •Underlined headline and dividend callout
  • •Footnote references
Seite 4
Quarterly summary with trend charts

Q2 FY2026 Summary (Quarter-on-Quarter)

Inhalt

Despite market conditions, recurring profits from wrap accounts and equity investment trusts kept building; annualized Q2 ROE 11.3%. Q2 net operating revenues ¥223.9 billion (2,239億円, +1.6% QoQ), ordinary income ¥78.2 billion (-11.2%), net income ¥51.4 billion (-8.8%). WM (Daiwa Securities) profit fell on market correction but stock-based revenue hit a record; AM AUM reached a record while alternative AM capital gains fell; GM was down on weaker overseas FICC while GIB grew on debt underwriting and domestic M&A; ORIX Bank's three months were consolidated from Q2. Three bar charts show nine quarters (FY2024 Q2 to FY2026 Q2) of net operating revenues (161.0 to 223.9), ordinary income (72.8 to 88.0 peak in Q1 then 78.2) and net income (53.7 to 56.4 in Q1 then 51.4), in ¥ billion.

Layout-Struktur

Headline and QoQ table with four bullets in a top panel; three equal-width light-blue bar charts across the bottom with navy title bars.

Wichtige visuelle Elemente

  • •QoQ results table
  • •Three nine-quarter bar charts
  • •Data labels on every bar
Seite 5
Financial summary table

Consolidated Results Overview

Inhalt

Quarterly table in ¥ million: Q2 operating revenues 431,090; net operating revenues 223,902; SG&A 152,986; ordinary income 78,262; net income 51,431. H1 totals: operating revenues 865,454 (+23.3%), net operating revenues 444,301 (+35.5%), SG&A 295,873 (+22.3%), ordinary income 166,352 (+69.9%), net income 107,846 (+36.6%). Total assets ¥40.41 trillion, net assets ¥2.12 trillion, shareholders' equity ¥1.84 trillion. Q2 EPS ¥36.90 (H1 ¥77.57), BPS ¥1,318.82, annualized ROE 11.3% (H1 12.0%). Boxes show the FY2026 interim dividend of ¥39 and, for reference, the FY2024–2026 minimum annual dividend of ¥44.

Layout-Struktur

Wide financial table with quarterly columns, QoQ and YoY change columns, H1 comparison and FY2025 full-year column; current quarter and H1 shaded light blue; two dividend boxes underneath.

Wichtige visuelle Elemente

  • •Multi-period financial table
  • •Highlighted current-period columns
  • •Dividend callout boxes
Seite 6
Segment data table

Segment Results Overview (Tables)

Inhalt

Net operating revenues and ordinary income by segment in ¥ million. Q2 net operating revenues: WM 99,259 (WM HQ/Daiwa Securities 72,662; Daiwa Next Bank 24,940, +151.3% QoQ), AM 38,013 (securities AM 22,941, real estate AM 12,035, alternative AM 3,036), GM&IB 69,137 (GM 45,712, GIB 23,424). Q2 ordinary income: WM 39,737, AM 23,879, GM&IB 15,786, consolidated 78,262; base profit 62,384 (-0.7% QoQ, +41.9% YoY). H1 base profit 125,205 (+60.2%). Footnote: from Q2 Daiwa Next Bank figures include ORIX Bank, with ordinary income after goodwill amortization.

Layout-Struktur

Two stacked segment tables (net operating revenues above, ordinary income below) with the same column structure as the consolidated overview; sub-segments indented.

Wichtige visuelle Elemente

  • •Two stacked segment tables
  • •Indented sub-segment rows
  • •Base profit summary row
Seite 7
Data visualization / segment dashboard

Segment Results Overview (Charts)

Inhalt

Four combo charts in ¥ billion for FY2025 Q1 to FY2026 Q2. WM net operating revenues rose steadily from 62.9 to 99.2, with ordinary income from 19.7 to 39.7. AM net operating revenues 38.0 in Q2 (40.9 in Q1) with ordinary income 23.8 (30.3 in Q1). GM&IB revenues 69.1 (76.5 in Q1) with ordinary income 15.7 (22.7 in Q1). Consolidated ordinary income 78.2 versus 88.0 in Q1, with base profit 62.3 versus 62.8.

Layout-Struktur

2x2 grid of stacked bar charts with red line overlays for ordinary income; each quadrant has a navy title bar, the consolidated chart has a grey title bar.

Wichtige visuelle Elemente

  • •Stacked bar charts
  • •Red diamond line for ordinary income
  • •2x2 chart grid
  • •Six-quarter axes
Seite 8
Trend analysis chart

Consolidated Ordinary Income and Base Profit Trend

Inhalt

Q2 base profit was ¥62.3 billion (+41.9% YoY, -0.7% QoQ) and the H1 total of ¥125.2 billion exceeds 80% of the ¥150 billion medium-term plan target. Annual chart in ¥ billion: consolidated ordinary income 135.8 (FY2021), 86.9 (FY2022), 174.5 (FY2023), 224.7 (FY2024), 234.5 (FY2025) and 166.3 for H1 FY2026; base profit 87.8, 73.1, 114.2, 137.5, 182.7 and 125.2. A quarterly chart from FY2021 Q1 shows Q2 FY2026 ordinary income of 78.2, made up of WM 39.7, securities AM 12.8 and real estate AM 9.8 for base profit of 62.3.

Layout-Struktur

Two bold bullet headlines on top; side-by-side annual and quarterly stacked bar charts with a red base-profit line; dashed divider separating the H1 FY2026 bar.

Wichtige visuelle Elemente

  • •Annual stacked bars with base profit line
  • •Quarterly stacked bars since FY2021
  • •Highlighted latest values
Seite 9
Balance sheet

Consolidated Balance Sheet (End of September 2026)

Inhalt

Balance sheet in ¥ billion: total assets 40,407 (+2,329 vs March end), current assets 38,349 including cash and deposits 4,720, trading products 13,589, operating loans 5,536 (+1,926) and cash collateral for borrowed securities 9,927. Liabilities 38,287 including trading products 10,508, collateralized borrowings 11,600 and banking-business deposits 7,502 (+2,460). Net assets 2,119; shareholders' equity 1,841, up ¥77.4 billion from the prior year-end. Side panel: total assets ¥40.4071 trillion, net assets ¥2.1195 trillion; 75.4% of assets are highly liquid.

Layout-Struktur

Two-column balance sheet table (assets left, liabilities and net assets right) with September-end and change-vs-March columns; summary figures and bullet notes on the right.

Wichtige visuelle Elemente

  • •T-account style balance sheet
  • •Navy section header rows
  • •Key totals panel
  • •Liquidity ratio bullet
Seite 10
Capital adequacy / regulatory metrics

Financial Base: Capital and Liquidity Regulation (Basel III)

Inhalt

As of June 30, 2026: consolidated total capital ratio 21.04%, Tier 1 ratio 20.95%, CET1 ratio 18.63% and leverage ratio 5.03%. Liquidity coverage ratio for July–September 2026 (daily average) 139.6%. Charts track total capital (¥1,719 billion in FY2026 Q1) and CET1 capital (¥1,522 billion) since FY2024 Q1, total exposure (¥33,977 billion), and high-quality liquid assets (¥3,777 billion) versus net cash outflows (¥2,705 billion).

Layout-Struktur

Wide capital ratio chart across the top, leverage ratio and LCR charts side by side below, with a text panel on the right listing the period-end ratios.

Wichtige visuelle Elemente

  • •Clustered bars with ratio lines
  • •Three-chart layout
  • •Ratio summary panel
Seite 11
Income statement

Income Statement Overview

Inhalt

Consolidated P&L in ¥ million. Q2 commissions 137,735 (-4.0% QoQ), trading gains 28,910 (-13.0%), financial revenue 206,313 (+17.5%), net operating revenues 223,902, SG&A 152,986, operating income 70,915, ordinary income 78,262, extraordinary gains 3,954, pre-tax income 82,217, net income 51,431. H1 operating income 148,427 (+72.5%). Side notes: brokerage commissions ¥26.4 billion (-24.4%), underwriting ¥11.7 billion (-31.2%), distribution fees ¥7.7 billion (-16.4%), M&A-related fees ¥15.1 billion (+20.5%). From this page, comparisons are QoQ unless stated.

Layout-Struktur

Full income statement table with quarterly, QoQ, YoY, H1 and FY2025 columns; current quarter shaded; commission bullet notes on the right.

Wichtige visuelle Elemente

  • •Detailed P&L table
  • •Shaded current-quarter column
  • •Commentary bullets
Seite 12
Cost analysis table

SG&A Breakdown

Inhalt

Q2 SG&A ¥152,986 million (+7.1% QoQ; H1 295,873, +22.3%): trading-related 30,824 (+6.8%), personnel 73,445 (+2.6%), real estate 12,788, office costs 11,458 (+16.4%), depreciation 10,430 (+9.8%), taxes and dues 5,465, other 8,572. The increase was mainly driven by consolidating ORIX Bank from Q2.

Layout-Struktur

SG&A line-item table with the standard multi-period columns and a two-bullet explanation on the right.

Wichtige visuelle Elemente

  • •Expense breakdown table
  • •Shaded current-period columns
  • •Explanatory bullets
Seite 13
Cost structure table

Cost Structure

Inhalt

SG&A split into variable and fixed costs in ¥ billion from FY2024 Q2. Q2 FY2026 total 152.9: variable costs 64.8 (trading-related 30.8 including advertising 2.3, bonuses 24.2, overtime and part-time 2.4) and fixed costs 88.1 (personnel 46.6, real estate 12.7, depreciation 10.4, outsourcing 11.1, taxes and dues 5.4). FY2025 full-year SG&A was 513.0 (variable 217.0, fixed 296.0).

Layout-Struktur

Single wide table with grey full-year subtotal columns for FY2024 and FY2025 and shaded FY2026 Q2 column; variable and fixed cost blocks outlined.

Wichtige visuelle Elemente

  • •Variable vs fixed cost blocks
  • •Full-year subtotal columns
  • •Highlighted current quarter
Seite 14
Regional performance

Overseas Business Ordinary Income

Inhalt

Overseas ordinary income was ¥7,276 million in Q2 (-44.6% QoQ) and a record ¥20.4 billion for H1 (+78.6% YoY). Europe turned profitable in Q2 (¥1,119 million); Asia & Oceania fell to ¥2,242 million as strong Q1 equity revenue and equity-method income declined; the Americas fell to ¥3,914 million on lower FICC revenue. A stacked bar chart shows regional contributions since FY2024 Q2.

Layout-Struktur

Regional results table at top, stacked bar chart with total line below, three bullets on the right.

Wichtige visuelle Elemente

  • •Regional table
  • •Stacked bars by region with total line
  • •Commentary bullets
Seite 15
Segment deep dive

Wealth Management (WM) Division

Inhalt

Q2 WM net operating revenues ¥99,259 million (+12.5% QoQ; H1 +36.3%) and ordinary income ¥39,737 million (+6.6%). Equity revenue fell ¥6.2 billion (-26.1%) from a high Q1 but demand for AI, semiconductors and new growth themes continued. Bond revenue rose ¥0.3 billion (+4.7%), led by SoftBank Group bonds. Fund agency fees hit a record (+6.1%). Wrap-related revenue rose 8.8% to a record ¥20.8 billion. Stock-based revenue reached a record ¥38.3 billion, covering 128.4% of fixed costs and 82.1% of total costs. Net asset inflow of ¥312.6 billion, with 11 consecutive quarters of individual net inflows. Revenue table by product, with Daiwa Next Bank contributing ¥24.9 billion.

Layout-Struktur

Summary table and bracketed topic bullets (Equity, Bonds, Equity Investment Trusts, Wrap, Stock-based Revenue, Asset Inflow) on the left; stacked bar and line chart with product revenue table on the right.

Wichtige visuelle Elemente

  • •Stacked revenue-by-product chart
  • •Ordinary income line
  • •Product revenue table
  • •Bracketed topic headers
Seite 16
Sales and flows analysis

WM Division: WM Headquarters (Daiwa Securities)

Inhalt

Wrap account contracts of ¥418.2 billion and net increase of ¥294.6 billion were quarterly records; wrap contract assets reached a record ¥6.9469 trillion. Equity investment trust sales were ¥502.7 billion, with net increase of ¥165.0 billion as cancellations fell, led by the Global Select Equity Open (World's Best), Growth Opportunity Fund and a physical AI equity fund. Combined wrap and equity trust net increase of ¥459.6 billion was a quarterly record. Product sales table in ¥ billion: equity offerings 63.9, wrap 418.2, insurance 46.3, domestic bonds 311.8, foreign bonds 233.8, equity investment trusts 502.7.

Layout-Struktur

Text bullets top left, net increase stacked bar chart bottom left, product sales stacked bar chart with data table on the right.

Wichtige visuelle Elemente

  • •Net increase stacked bars
  • •Product sales stacked bars
  • •Sales data table with footnotes
Seite 17
Subsidiary performance

WM Division: Daiwa Next Bank

Inhalt

Q2 ordinary revenues ¥35,452 million, net interest and similar income ¥13,439 million (+3.0%), and ordinary income ¥7,876 million, a record (+8.5% QoQ; H1 +50.5%). Deposits fell from the prior quarter-end to ¥5,055 billion as time-deposit campaign inflows were outweighed by transfers into securities investments and maturities; foreign-currency deposits ¥721 billion; deposit accounts rose to 2.412 million. Charts track net interest income (¥42.1 billion in FY2025) and deposit balances since FY2021.

Layout-Struktur

Summary table and bullets top left, income combo chart with table bottom left, deposit balance and account count combo chart with table on the right.

Wichtige visuelle Elemente

  • •Bar and line combo charts
  • •Deposit balance table
  • •Dual-axis account count line
Seite 18
Acquisition / new subsidiary update

WM Division: ORIX Bank

Inhalt

Consolidation began in July–September 2026; contribution to WM ordinary income was ¥6.7 billion after goodwill amortization. ORIX Bank standalone Q2 ordinary revenues ¥24,146 million (+8.5% QoQ) and ordinary income ¥8,392 million (+20.5%). Loan balance flat QoQ at ¥2,767 billion as investment property loans rose to ¥2,005 billion while corporate loans eased to ¥651 billion. Historical charts from FY2021 are standalone reference figures not included in prior consolidated results.

Layout-Struktur

Compact summary table and two bullets top left, income combo chart bottom left, loan balance stacked bar chart and table on the right.

Wichtige visuelle Elemente

  • •Loan balance stacked bars
  • •Income trend chart
  • •Loan composition table
Seite 19
Segment deep dive

AM Division: Securities Asset Management

Inhalt

Q2 net operating revenues ¥22,941 million (+7.9% QoQ) but ordinary income ¥12,836 million (-18.3%) due partly to valuation losses. Daiwa Asset Management attracted ¥479.1 billion of net inflows into public equity investment trusts excluding ETFs, and public investment trust AUM topped ¥44 trillion, a record. Total AUM ¥50,495 billion (public equity trusts 42,613, of which ETFs 25,644; public bond trusts 1,463; private trusts 3,028; advisory 3,390). H1 ordinary income ¥28.5 billion versus ¥37.6 billion for all of FY2025.

Layout-Struktur

Summary table and bullets top left, annual ordinary income bar chart bottom left, AUM stacked bar chart with detailed table on the right.

Wichtige visuelle Elemente

  • •AUM stacked bars since FY2021
  • •Annual profit bars
  • •AUM breakdown table
Seite 20
Segment deep dive

AM Division: Real Estate Asset Management

Inhalt

Q2 net operating revenues ¥12,035 million (-9.7%) and ordinary income ¥9,810 million (-0.3%), roughly flat as stable AUM-linked income plus property sale gains at Daiwa Securities Realty and Samty contributed. AUM hit a record ¥1,826 billion including sub-sponsored Samty Residential, led by Daiwa Office Investment (¥487 billion), Daiwa Securities Living (¥399 billion) and Daiwa Securities Residential Private (¥259 billion). H1 ordinary income ¥19.6 billion versus ¥33.0 billion for FY2025.

Layout-Struktur

Summary table and bullets top left, stacked annual profit chart (AUM-linked vs other) bottom left, AUM by vehicle stacked bars and table on the right.

Wichtige visuelle Elemente

  • •AUM-by-REIT stacked bars
  • •Profit composition bars
  • •Vehicle-level AUM table
Seite 21
Segment deep dive

AM Division: Alternative Asset Management

Inhalt

Q2 net operating revenues ¥3,036 million (-52.0%) and ordinary income ¥1,232 million (-74.4%) as capital gains from portfolio exits fell and Daiwa Energy & Infrastructure booked losses on renewable-energy investments. H1 ordinary income ¥6.0 billion after a ¥5.2 billion loss in FY2025. Principal investment balance ¥261 billion: Daiwa PI Partners private equity 18, monetary claims 71, real estate 6, Daiwa Energy & Infrastructure 164 (¥ billion).

Layout-Struktur

Summary table and two bullets top left, annual ordinary income bar chart with negative bar bottom left, principal investment stacked bars and table on the right.

Wichtige visuelle Elemente

  • •Principal investment stacked bars
  • •Annual profit bars including a loss year
  • •Investment balance table
Seite 22
Segment deep dive

GM&IB Division: Global Markets (GM)

Inhalt

Q2 net operating revenues ¥45,712 million (-15.1% QoQ) and ordinary income ¥11,168 million (-38.6%); H1 ordinary income ¥29.4 billion (+165.7% YoY). Equities stayed firm by capturing institutional flows despite lower global turnover, and equity derivatives saw more new trades despite lower volatility. Domestic FICC was steady on JGB and derivatives client flows, but overseas FICC struggled with lower flows and position management as US rates rose. Q2 revenue mix in ¥ billion: equity 23.5, FICC 21.1, other 1.0.

Layout-Struktur

Summary table and bracketed Equity and FICC bullets on the left; stacked revenue bars with ordinary income line and data table on the right.

Wichtige visuelle Elemente

  • •Equity vs FICC stacked bars
  • •Ordinary income line
  • •Nine-quarter data table
Seite 23
Deal highlights / segment deep dive

GM&IB Division: Global Investment Banking (GIB)

Inhalt

Q2 net operating revenues ¥23,424 million (+3.4%) and ordinary income ¥4,017 million (+22.7%). Equity deals include Japan Airport Terminal PO (¥64.3 billion), Oliver IPO (¥26.0 billion), Nichicon euro-yen CB (¥22.0 billion) and a Mitsui & Co. digital real estate STO. Debt deals include a ¥1 trillion SoftBank Group retail bond, Sumitomo Forestry subordinated bonds (¥243.5 billion) and Mexico Samurai bonds (¥282.8 billion). M&A mandates include the SoftBank and Seven & i Holdings capital and business alliance and the Saddora Holdings MBO by Marunouchi Capital. Revenue mix in ¥ billion: equity underwriting 2.6, debt underwriting 4.5, M&A and other 16.2; group M&A-related revenue 17.5.

Layout-Struktur

Summary table and three deal lists (equity, debt, M&A) with offering sizes on the left; stacked revenue bars with profit line and table on the right.

Wichtige visuelle Elemente

  • •Deal tombstone lists
  • •Sustainability-deal diamond markers
  • •Stacked revenue bars
  • •Ordinary income line
Seite 24
Section divider

Appendix Divider (参考資料)

Inhalt

Section divider introducing the reference materials that follow on pages 25-36.

Layout-Struktur

Mostly white slide with the word Appendix (参考資料) at left-centre and a pale blue ribbon graphic in the lower right.

Wichtige visuelle Elemente

  • •Pale blue ribbon graphic
  • •Single section title
Seite 25
Revenue breakdown table

Commission Breakdown

Inhalt

Q2 commissions ¥137,735 million (-4.0% QoQ; H1 281,158, +28.6%): brokerage 26,440 (-24.4%), underwriting and secondary offerings 11,750 (-31.2%), subscription and distribution 7,758 (-16.4%), other commissions 91,785 (+11.8%) including agency fees 9,889, investment advisory and account management fees 20,650, insurance sales 1,390, M&A-related fees 15,114 (+20.5%) and consignment fees 33,824.

Layout-Struktur

Single commission table with nested sub-rows under other commissions and the standard multi-period columns.

Wichtige visuelle Elemente

  • •Nested commission table
  • •Shaded current-period columns
Seite 26
Data visualization

Client Assets

Inhalt

Daiwa Securities client assets reached ¥118.7 trillion at the end of Q2 (from ¥90.3 trillion in FY2024 Q2): equities 82.8, domestic bonds 15.0, foreign bonds 4.4, equity investment trusts 12.8, bond trusts 0.8, foreign trusts 0.8, other 1.8 (¥ trillion). Daiwa Next Bank deposits including ORIX Bank were ¥7.6 trillion.

Layout-Struktur

Stacked bar chart across the top with legend on the left, data table across the bottom.

Wichtige visuelle Elemente

  • •Stacked client asset bars
  • •Asset class table
  • •Bank deposit row
Seite 27
KPI table

Accounts and Equity Trading Trends

Inhalt

Daiwa Securities data: 3.347 million client accounts with balances, 1.502 million equity-holding accounts, 3.915 million online trading accounts, 49 thousand new accounts in Q2 and 727 thousand NISA accounts. Wrap account assets ¥6,946 billion across 248 thousand contracts. Individual domestic equity trading: 2.773 million executions and ¥3,996 billion traded (down from ¥5,161 billion in Q1); foreign equity trading ¥507 billion.

Layout-Struktur

Single multi-section KPI table spanning nine quarters.

Wichtige visuelle Elemente

  • •Sectioned KPI table
  • •Highlighted current-quarter column
Seite 28
Data visualization

Net Asset Inflows

Inhalt

WM Headquarters net asset inflow (cash plus securities) was ¥312.6 billion in Q2: corporate 177.3 and individual 135.3. Individual inflow comprised net cash deposits of ¥59.2 billion and net securities transfers of ¥76.0 billion; Q1 had been 491.5 in total.

Layout-Struktur

Two side-by-side stacked bar charts (total by client type, individual by cash vs securities) each with a data table below.

Wichtige visuelle Elemente

  • •Two stacked bar charts
  • •Negative-value bars
  • •Paired data tables
Seite 29
Recurring revenue analysis

Stock-Based Revenue

Inhalt

WM HQ (domestic) Q2 net operating revenues ¥71.7 billion: stock-based revenue 38.3 and flow revenue 33.3, lifting the stock-based ratio to 53.5%. Stock-based revenue covered 128.4% of fixed costs and 82.1% of total costs, up from 104.6% and 68.5% in FY2024 Q2. Balances in ¥ trillion: equity investment trusts 12.8, wrap contract assets 6.9, foreign-currency deposits 0.7.

Layout-Struktur

Stacked revenue composition chart with table and coverage ratios on the left; clustered balance bars with table on the right.

Wichtige visuelle Elemente

  • •Stock vs flow stacked bars
  • •Coverage ratio rows
  • •Balance trend bars
Seite 30
Competitive positioning / ranking table

Major League Tables (Q2 FY2026, April–September 2026)

Inhalt

Daiwa ranked No. 1 in straight bonds excluding own issues (22.4% share), No. 2 in municipal bonds (21.1%), No. 3 in equity offerings (14.3%) and FILP agency bonds (22.1%), No. 5 in IPOs (9.0%) and No. 5 in announced M&A by deal count. Nomura led equity offerings (30.2%), IPOs (33.8%), FILP agency and municipal bonds; Mizuho led M&A. Source: Daiwa Securities based on LSEG Data & Analytics.

Layout-Struktur

Ranking grid with six product columns and five rank rows; Daiwa's cells outlined and shaded red.

Wichtige visuelle Elemente

  • •League table grid
  • •Red-highlighted Daiwa cells
  • •Market share percentages
Seite 31
Risk metrics table

Value at Risk

Inhalt

Trading VaR (99% one-tailed, one-day holding period, correlations considered) was ¥1.09 billion at Q2 end, with a quarterly high of 1.72, low of 0.87 and average of 1.11. By risk factor: equities 0.97, interest rates 0.77, FX 0.57, commodities 0.00. Reference VaR at 95% confidence: ¥0.72 billion.

Layout-Struktur

Methodology box at top, VaR table with period-end, max/min/average and risk-factor rows, plus a 95% reference row.

Wichtige visuelle Elemente

  • •Methodology callout box
  • •VaR data table
Seite 32
Data table

Headcount Trend

Inhalt

Consolidated headcount (including temporary staff) rose to 16,755 at Q2 end from 15,803 in Q1, reflecting the newly consolidated bank; overseas staff 1,852.

Layout-Struktur

Simple two-row table across nine quarters on an otherwise white slide.

Wichtige visuelle Elemente

  • •Headcount table
  • •Highlighted current quarter
Seite 33
Balance sheet

Daiwa Securities Balance Sheet (End of September 2026)

Inhalt

Standalone Daiwa Securities balance sheet in ¥ billion: total assets 16,964 (-753 vs March), including trading products 8,941 and cash collateral for borrowed securities 4,002 (-2,001). Liabilities 16,396 including collateralized borrowings 3,497 (-2,100). Net assets 568, capital stock 100.

Layout-Struktur

Two-column balance sheet table with September-end and change-vs-March columns.

Wichtige visuelle Elemente

  • •T-account style table
  • •Navy section rows
Seite 34
Subsidiary financial table

Daiwa Securities Results Overview (1/2)

Inhalt

Standalone Daiwa Securities Q2 operating revenues ¥157,953 million and commissions ¥87,365 million (-7.3%): brokerage 18,072 (-23.4%), underwriting 10,360 (-27.4%), distribution 7,667, other commissions 51,264 (+8.7%). Trading gains 31,242, financial revenue 39,345, net operating revenues 122,333 (-4.2% QoQ). H1 net operating revenues 250,024 (+29.8% YoY).

Layout-Struktur

Detailed revenue table with nested commission sub-rows and the standard multi-period columns.

Wichtige visuelle Elemente

  • •Nested revenue table
  • •Shaded current-period columns
Seite 35
Subsidiary financial table

Daiwa Securities Results Overview (2/2)

Inhalt

Standalone Daiwa Securities Q2 SG&A ¥82,043 million (personnel 34,057, office costs 18,019, trading-related 14,665), ordinary income ¥40,748 million (-11.0% QoQ; H1 86,545, +57.7%) and net income ¥27,306 million (H1 58,259, +56.0%). Annualized ROE 19.7% in Q2 and 19.8% for H1; capital adequacy ratio 325.5%.

Layout-Struktur

Continuation table with SG&A line items, profit rows, ROE and capital adequacy ratio.

Wichtige visuelle Elemente

  • •SG&A and profit table
  • •ROE and capital ratio rows
Seite 36
Closing / contact slide

Contact

Inhalt

Investor relations contact: Daiwa Securities Group Inc., Corporate Planning Department, IR Office, with an email address and the IR website https://www.daiwa-grp.jp/ir/.

Layout-Struktur

Mostly white closing slide with a navy contact label and three lines of contact text in the lower right.

Wichtige visuelle Elemente

  • •Navy contact label
  • •IR email and URL

Häufig gestellte Fragen

Häufige Fragen zu dieser Folie und dem zugrunde liegenden Präsentationsinhalt.

What does the Daiwa Securities Group H1 FY2026 earnings presentation cover?

It covers Daiwa's first half of fiscal 2026 (April–September 2026), with a focus on the second quarter (July–September). It reports record H1 ordinary income of ¥166.3 billion (+69.9% YoY), net income of ¥107.8 billion (+36.6%), net operating revenues of ¥444.3 billion, base profit of ¥125.2 billion, a 12.0% ROE and a record ¥39 interim dividend, followed by segment detail, capital ratios and an appendix.

Is this deck in English or Japanese, and where was it published?

The original deck is in Japanese, titled 2026年度 第2四半期 決算説明資料 (FY2026 Q2 earnings presentation), and was published on TDnet, the Tokyo Stock Exchange's Timely Disclosure network, on October 30, 2026 (ticker 8601). The page-by-page summary on this page is in English, with yen figures kept in Daiwa's own units.

How should I read the yen units such as 億円 and 十億円?

億円 is ¥100 million, so 4,443億円 equals ¥444.3 billion. Charts labelled 十億円 are in ¥ billion, and detailed tables labelled 百万円 are in ¥ million. Daiwa's fiscal year runs from April to March, so FY2026 Q2 is July–September 2026.

What is base profit and why does Daiwa highlight it?

Base profit is the combined ordinary income of the Wealth Management division, securities asset management and real estate asset management, the businesses with more stable recurring revenue. H1 FY2026 base profit of ¥125.2 billion already exceeds 80% of the ¥150 billion target in Daiwa's medium-term management plan.

How did the ORIX Bank acquisition affect the results?

ORIX Bank was consolidated from Q2 (July–September 2026) inside Daiwa Next Bank. It contributed ¥6.7 billion to WM ordinary income after goodwill amortization, lifted Daiwa Next Bank's H1 ordinary income by 117.8%, raised SG&A by 7.1% QoQ and increased consolidated headcount to 16,755.

Can I download this presentation as an editable PowerPoint?

Yes. Both the original PDF and an editable PPTX converted from it are available on this page. Text, tables and many charts can be edited in PowerPoint, though converted Japanese layouts may need some font and spacing cleanup.

Who is this deck useful for?

It suits analysts and investors covering Japanese brokers, IR teams benchmarking a results deck for a diversified financial group, and designers who need examples of dense but readable financial tables, segment dashboards and league-table slides.

Where can I find Daiwa's other investor materials?

Daiwa Securities Group publishes results materials, including English versions of many documents, on its IR website at daiwa-grp.jp/ir. Japanese timely disclosures such as this deck also appear on TDnet on the day of release.

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