Daiwa Securities Group formulated a new three-year medium-term management plan, "Passion for the Best" 2026, in April last year, adopting "Maximize Customer Asset Value" as our basic group management policy.

We have made a strong start in FY2024, the first year under this new plan. To maximize customer asset value, we have prioritized gaining a deep understanding of our customers’ needs and challenges across all business domains of the Group. We have established a framework that enables us to deliver optimal, high-quality solutions tailored to each customers’ unique circumstances and the prevailing economic environment. At the same time, we have steadily advanced our transformation toward a business model that is less susceptible to market fluctuations. As a result, our consolidated results for FY2024 reached ¥645.9 bn in net operating revenues, ¥224.7 bn in ordinary income, and ¥154.3 bn in profit attributable to owners of parent. Base income^*, one of our key earnings KPIs, reached ¥137.5 bn, progressing at a pace exceeding expectations toward our FY2026 target of ¥150 bn.

Regarding the return of profits to our shareholders, the annual dividend for the year was set at ¥56 per share (an interim dividend of ¥28 and a year-end dividend of ¥28), exceeding the minimum annual dividend of ¥44 per share that we have committed to during the current medium-term management plan. Furthermore, as an additional measure to enhance shareholder returns, we have established a share repurchase program with an upper limit of 50 million shares (3.53% of the total shares outstanding, excluding treasury shares) and a total acquisition value of up to ¥50 billion.

Maximizing the value of customer assets is an ongoing need. With this as our highest priority, we will continue to provide high-quality consulting and solutions based on accurate analysis of the environment and a deep understanding of customer needs. Through these efforts, we aim to support Japan in achieving its objective of becoming a leading asset management center and an investment powerhouse, and to contribute to the creation of a prosperous future through the financial and capital markets.

We would like to express our deepest appreciation to our shareholders for your continued support.