Daiwa Securities Co. Ltd was established in 1943, by the merger of Fujimoto Securities Co. Ltd. and Nippon Trust Bank. It transformed into a holding company structure in April 1999 by separating the retail business division and the wholesale business division. Daiwa Securities Group Inc. has become a holding company. Daiwa Securities Co., Ltd. a 100% subsidiary of Daiwa Securities Group Inc., has succeeded the retail business, and the wholesale business has been succeeded by Daiwa Securities SB Capital Markets Co. Ltd. (the current Daiwa Securities Capital Markets Co. Ltd.), also succeeding part of the investment banking division of Sumitomo Bank.

"Holding company" owns shares issued by group companies to control their business activities. A holding company engaging in no other businesses than holding shares is called "pure holding company". Daiwa Securities Group Inc. is a pure holding company and its shares are listed on stock exchanges.

The subsidiaries and the affiliate companies of Daiwa Securities Group Inc. conduct main businesses. Core businesses of the Group are financial and investment services centered on securities business, which include trading and brokerage of securities and derivative products, securities underwriting and offering, agency of public offering, secondary offering, and private offering, and other financial operations. The Daiwa Securities Group's business activities cover not only major financial markets in Japan, but also those in America, Europe, Asia, and Oceania. Daiwa Securities Group provides a wide range of services matching both financing and investment needs of clients over the world through its global network.

Ticker code of Daiwa Securities Group Inc. is 8601.

In Japan, the Company is listed on the Tokyo Stock Exchange (First Section), the Osaka Securities Exchange (First Section), and the Nagoya Stock Exchange (First Section).

The company was listed in 1961 on Tokyo, Osaka, and Nagoya Stock Exchanges.

15,750 employees are working at the Group as of March 31^st, 2010

"Committee System" is a superior form of corporate governance because of the separation of supervisory function from management. It consists of three committees such as nominating committee, audit committee, and compensation committee. More than half of directors in each committee must be outside director and not executive officer of the company. In addition, board of directors delegates wide range of authorities and responsibilities to executive officers, which accelerates management decision-making process.

Transition to a "Committee System"
Group Management System

Fair, timely, and appropriate disclosure is essential for the Daiwa Securities Group to promote more understanding and fair expectations on the Group among shareholders, investors and other stakeholders. In March 2004, the Daiwa Securities Group established and publicized its new Disclosure Policy clarifying its basic stance on information disclosure. At the same time, Daiwa Securities Group Inc. established Disclosure Regulations to enhance effectiveness of the policy, thereby making definitions of management-related information, disclosure procedures and other matters. In addition, the Company submitted "Pledge regarding timely disclosure" to Tokyo Stock Exchange in January 2005, in response to the revision of its regulation.

Daiwa Securities Group Inc. Disclosure Policy

Please refer to Daiwa Securities Group CSR website

Please refer to this site (written in only Japanese)