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Daiwa Securities Group Inc.FinancialsSummary of Business Results
Financial Overview
Financial Summary Operating Reveunes by Business Sector


Highlights of 3Q FY2009 Earnings Results

  • Consolidated annualized ROE for
    3Q : 11.0% ( Retail : 6.6%, Wholesale : 18.9% )
    1-3Q : 7.5% ( Retail : 9.3%, Wholesale : 9.2% )
  • Due to the dissolution of the wholesale business joint venture with SMFG, Daiwa Securities Group acquired all shares of Daiwa Securities SMBC (present: Daiwa Securities Capital Markets) held by SMFG.
  • Due to the TOB of SANYO Electric shares, the net gain on private equity and other securities significantly increased. As a result, 3Q consolidated ordinary income was Y67.8bil, and 3Q net income was Y26.3bil.
  • Due to the significant increase of investment banking commissions, 3Q total commission of Y67.2bil, up 16% q/q.
  • 3Q trading income decreased to Y7.7bil, down 73% q/q due to the decline in bond trading revenues.


Financial Summary (Consolidated)
(millions of yen)
FY2009 FY2008
4Q
(1-3)		 3Q
(10-12)		 2Q
(7-9)		 1Q
(4-6)		 4Q
(1-3)		 3Q
(10-12)		 2Q
(7-9)		 1Q
(4-6)
Operating revenues   183,615 105,631 132,119 78,436 38,564 131,559 165,376
Commissions
   67,256 58,008 70,514 43,658 49,383 54,045 61,792
Net gain/loss on trading
   7,754 28,536 34,712 31,606 -22,849 10,864 21,300
Net gain/loss on private equity and other securities
   86,532 -4,463 -1,567 -25,785 -37,478 -15,206 -1,007
Interest and dividend income
   12,344 13,792 16,815 16,259 37,525 69,129 69,748
Other revenues
   9,726 9,756 11,644 12,696 11,983 12,726 13,541
Interest expenses
   10,982 11,340 15,508 14,754 34,774 64,161 62,343
Cost of sales
   7,122 7,152 9,247 9,677 9,372 9,301 10,006
Net operating revenues   165,509 87,137 107,364 54,003 -5,582 58,096 93,026
SG&A   99,775 85,569 86,552 81,923 83,606 89,293 88,446
Operating income   65,733 1,567 20,812 -27,919 -89,189 -31,196 4,580
Non-operating income
   2,134 1,335 2,814 1,654 1,256 907 4,143
Non-operating expenses
   -22 866 798 1,658 2,089 1,235 402
Ordinary income   67,891 2,037 22,827 -27,923 -90,022 -31,525 8,321
Net income   26,366 1,991 17,870 -17,363 -53,039 -20,522 5,885


Trends in Net Operating
Revenues and SG&A

Trends in Net Operating Revenues and SG&A
Trends in Ordinary Income and Net Income

Trends in Ordinary Income and Net Income
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Operating Revenues by Business Sector (Consolidated)

(millions of yen)
FY2009 FY2008
4Q
(1-3)		 3Q
(10-12)		 2Q
(7-9)		 1Q
(4-6)		 4Q
(1-3)		 3Q
(10-12)		 2Q
(7-9)		 1Q
(4-6)
Total commission   67,256 58,008 70,514 43,658 49,383 54,045 61,792
Equity
   12,713 14,524 15,467 11,147 14,508 13,424 17,321
Fixed income
   186 167 160 104 148 340 398
Investment trust
   29,462 27,123 24,120 18,361 19,367 28,314 30,956
Investment banking
   20,433 11,886 26,612 10,205 10,753 6,456 7,499
Others (life insurance sales commission etc)
   4,459 4,306 4,153 3,840 4,605 5,508 5,616
Total gain/loss on trading   7,754 28,536 34,712 31,606 -22,849 10,864 21,300
Gain/loss on trading (Equity)
   688 2,184 14,685 9,895 -48,076 -8,590 21,033
Gain/loss on trading
(Bond and forex)
   7,066 26,351 20,026 21,710 25,226 19,454 266
Net gain/loss on private equity and other securities   86,532 -4,463 -1,567 -25,785 -37,478 -15,206 -1,007

<<Reference>>
Equity & Bond Division Revenues (Trading gain/loss + net financial income)*
(billions of yen)
FY2009 FY2008
4Q
(1-3)		 3Q
(10-12)		 2Q
(7-9)		 1Q
(4-6)		 4Q
(1-3)		 3Q
(10-12)		 2Q
(7-9)		 1Q
(4-6)
Total revenues in equity & bond division   10.5 32.0 37.5 35.5 -20.5 15.5 29.0
Equity
   10.0 6.0 16.5 4.5 10.5 2.0 4.0
Bond
   0.5 26.0 21.0 31.0 -31.0 13.5 25.0
* Managerial accounting basis

Trends in Operating Revenues
by Business Sector

Trends in Operating Revenues by Business Sector
Trends in Gain/loss on Trading

Trends in Gain/loss on Trading
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