Group Management System
As of June 20, 2025
Directors (Members of the Board)
Chairman of the Board

Seiji Nakata
Chairman of the Board
Chairman, Member of the Board,
Daiwa Securities Co. Ltd.
1983 Joined Daiwa Securities Co. Ltd.
He served successively as the Deputy Head of Corporate Planning and Human Resources of the Company, the Head of Corporate Institution and the Head of Sales of Daiwa Securities Co. Ltd., and COO and the Head of Retail of the Company. He served as the Representative Corporate Executive Officer, President and CEO of the Company from 2017 to 2024 and has broad experience and insights as a manager.
Director

Akihiko Ogino
President and CEO
President, Member of the Board,
Daiwa Securities Co. Ltd.
1989 Joined Daiwa Securities Co. Ltd.
He served successively as the Head of Legal, the Deputy Head of Overseas Operations, and the Head of Corporate Planning of the Company and the Executive Head of Human Resources and Corporate Planning of the Company. He serves as the Representative Corporate Executive Officer, President and CEO of the Company from 2024. He has expertise and experience to present a management strategy based on a wide vision and also to execute adequately the management and control of Daiwa Securities Group.
Director

Shinsuke Niizuma
Deputy President
COO and Head of Wealth Management
Deputy President, Member of the Board,
Daiwa Securities Co. Ltd.
1988 Joined Daiwa Securities Co. Ltd.
He served successively as the Head of Chiba Branch and Nagoya Branch of Daiwa Securities Co. Ltd. He became the Senior Managing Director of Daiwa Securities Co. Ltd. in 2015, and since then he has served successively as the Head of Retail Marketing Strategy, the Head of Sales, the Executive Head of Sales, and the Head of the Product Solution Division of Daiwa Securities Co. Ltd. He currently serves as the Representative Corporate Executive Officer, Deputy President and COO, and Head of Wealth Management of the Company. He has broad knowledge and experience in Wealth Management.
Director

Keiko Tashiro
Deputy President
Head of Asset Management,
Securities Asset Management,
Sustainability and Financial Education
1986 Joined Daiwa Securities Co. Ltd.
She served successively as the Head of Investor Relations Office of the Company and the Head of the Daiwa Direct Planning Dept. of Daiwa Securities Co. Ltd. She became a Senior Managing Director of the Company in 2009, and since then she has served successively as its Head of Daiwa Direct Business, the Head of Fixed Income, Currency, and Commodities and as the Head of Americas, the Head of Overseas Operations and the Executive Head of Overseas Operations. She currently serves as the Corporate Executive Officer, Deputy President, the Head of Asset Management, Securities Asset Management, Sustainability, and Financial Education of the Company. She has broad knowledge and experience in the Overseas and Corporate Planning.
Director

Eiji Sato
Senior Executive Managing Director
Head of Corporate Planning
and Deputy Head of Overseas Operations
Senior Executive Managing Director,
Member of the Board, Daiwa Securities Co. Ltd.
1991 Joined Daiwa Securities Co. Ltd.
He served as the Head of the Finance Dept. and the Head of the Corporate Planning Dept. of the Company. He became a Senior Managing Director of the Company in 2017, and since then he has served successively as CFO, the Deputy Head of Corporate Planning of the Company and currently serves as the Senior Executive Managing Director, Corporate Executive Officer, the Head of Corporate Planning and the Deputy Head of Overseas Operations of the Company. He has solid record and experience in Planning and Finance and also has experience in Investment Banking.
Director

Hiroko Sakurai
Senior Executive Managing Director
Head of Compliance
Representative Director/Senior Executive Managing Director, Member of the Board, Daiwa Securities Co. Ltd.
1988 Joined Daiwa Securities Co. Ltd.
She served as the Head of Investor Relations Office of the Company and the Head of Global Equity Sales Dept. (I) of Daiwa Securities Co. Ltd. She became a Senior Managing Director of Daiwa Securities Co. Ltd. in 2016, and since then she has served successively as the Head of Private Banking, the Head of Contact Center and the Head of Mass Affluent Marketing. She currently serves as the Senior Executive Managing Director, Corporate Executive Officer and Head of Compliance of the Company. She has broad experience and knowledge in broad areas such as Global Markets Division, Wealth Management Division, and Compliance Division.
Director

Sachiko Hanaoka
Audit&Supervisory Board Member,
Daiwa Securities Co. Ltd.
1990 Joined Daiwa Securities Co. Ltd.
After serving in the Research and Product Divisions, she served successively as the Head of the Products Planning Dept., the Education and Training Dept., and the Investment Strategy Dept. of Daiwa Securities Co. Ltd. Throughout her broad accumulated experience in the Research Division, she has developed a strong analytical ability and broad knowledge in business accounting and broad accumulated experience in management.
Outside Director

Eriko Kawai
She has held positions such as the Pension Fund Administrator of BIS and OECD, etc. The Company has drawn on her ample expertise and insight related to corporate management accumulated throughout her career. She has been a director for seven years.
1981 | Entered Nomura Research Institute, Ltd. |
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1985 | Management Consultant of McKinsey & Company, Inc. |
1986 | Fund Manager of Mercury Asset Management/SG Warburg plc |
1995 | CIO of Yamaichi Regent ABC Polska, Head of Investment |
1998 | Pension Funds Administrator of Bank for International Settlements (BIS) |
2004 | Senior Pension Funds Administrator of Organization for Economic Cooperation and Development (OECD) |
2008 | Representative of Kawai Global Intelligence |
2012 | Professor of Institute for the Promotion of Excellence in Higher Education, Kyoto University |
2013 | Professor of Institute for Liberal Arts and Sciences, Kyoto University |
2014 | Professor of Graduate School of Advanced Integrated Studies in Human Survivability, Kyoto University |
2018 | Outside Director (Member of the Board), Daiwa Securities Group Inc. (to date) |
2021 | Emeritus Professor of Kyoto University (to date) |
Outside Director

Katsuyuki Nishikawa
He served successively as the Vice-Minister of Justice, the Superintending Prosecutor of the Tokyo High Public Prosecutors Office and the Prosecutor General and is currently an attorney at law. The Company has drawn on his significant experience and professional knowledge related to law and compliance accumulated throughout his career. He has been a director for six years.
1979 | Prosecutor of Osaka District Public Prosecutors Office |
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2008 | Director-General of the Rehabilitation Bureau of the Ministry of Justice Director-General of the Immigration Bureau of the Ministry of Justice |
2009 | Director-General of the Criminal Affairs Bureau of the Ministry of Justice |
2011 | Vice-Minister of the Ministry of Justice |
2014 | Superintending Prosecutor of the Sapporo High Public Prosecutors Office |
2015 | Superintending Prosecutor of the Tokyo High Public Prosecutors Office |
2016 | Prosecutor General |
2018 | Retired as Prosecutor General Attorney at law (to date) |
2019 | Outside Director (Member of the Board), Daiwa Securities Group Inc. (to date) |
Outside Director

Toshio Iwamoto
He held positions such as the President of NTT DATA Corporation. The Company has drawn on his significant accumulated experience in management of global companies and experience and extensive knowledge about IT nurtured throughout his career. He has been a director for five years.
1976 | Joined Nippon Telegraph and Telephone Public Corporation |
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2004 | Member of the Board of NTT DATA Corporation (currently known as NTT DATA Group Corporation) |
2005 | Senior Managing Director of NTT DATA Corporation |
2007 | Executive Managing Director of NTT DATA Corporation |
2009 | Deputy President of NTT DATA Corporation |
2012 | President of NTT DATA Corporation |
2018 | Senior Corporate Advisor of the above company |
2020 | Outside Director (Member of the Board), Daiwa Securities Group Inc. (to date) |
Outside Director

Yumiko Murakami
She worked for the United Nations, Goldman Sachs Japan Co., Ltd. and Credit Suisse Securities (Japan) Limited, and served as Head of Organisation for Economic Co-operation and Development (OECD) Tokyo Centre. The Company has drawn on her significant international experience as well as experience on corporate management and understanding of the securities business accumulated throughout her career. She has been a director for four years.
1989 | United Nations Development Programme (Barbados) |
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1991 | United Nations Secretariat (New York) |
1991 | United Nations Transitional Authority in Cambodia (Phnom Penh) |
1994 | Goldman Sachs International (London) |
1997 | Goldman Sachs and Co. (New York) |
2004 | Managing Director of Goldman Sachs and Co. (New York) |
2008 | Managing Director of Goldman Sachs Japan Co. Ltd. (Tokyo) |
2009 | Managing Director of Credit Suisse Securities (Japan) Limited (Tokyo) |
2013 | Head of Organization for Economic Cooperation and Development (OECD) Tokyo Centre |
2021 | Outside Director (Member of the Board), Daiwa Securities Group Inc. (to date) |
Outside Director

Noriko Iki
She has held positions such as the Director-General of Equal Employment, Children and Families Bureau, Ministry of Health, Labour and Welfare, the Director-General of Tokyo Labor Bureau, Ministry of Health, Labour and Welfare, and Ambassador Extraordinary and Plenipotentiary to Brunei.
The Company has drawn on her expert knowledge and experience related labor administration and diversity and significant global experience cultivated through that experience. She has been a director for two years.
1979 | Entered Ministry of Labour |
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2009 | Director-General of Equal Employment, Children and Families Bureau, Ministry of Health, Labour and Welfare |
2010 | Research Director of Japan Institute for Labour Policy and Training |
2012 | Director-General of Tokyo Labour Bureau, Ministry of Health, Labour and Welfare |
2014 | Ambassador Extraordinary and Plenipotentiary to Brunei |
2018 | President of Japan Institute for Women's Empowerment & Diversity Management |
2023 | Special Adviser of Japan Institute for Women's Empowerment & Diversity Management (to date) Outside Director (Member of the Board), Daiwa Securities Group Inc. (to date) |
Outside Director

Mami Yunoki
She has been involved in auditing many listed companies as a certified public accountant for many years at PricewaterhouseCoopers Aarata LLC (currently known as PricewaterhouseCoopers Japan LLC). The Company has drawn on her expert knowledge and experience related to financial accounting. She has been a director for one year.
1985 | Joined Aoyama Audit Corporation |
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2006 | Joined PricewaterhouseCoopers Aarata (currently known as PricewaterhouseCoopers Japan LLC) |
2008 | Partner of the above corporation |
2016 | Member of the Firm Management Committee and Executive Officer in charge of the Manufacturing, Distribution, and Services Divisions of PricewaterhouseCoopers Aarata LLC (currently known as PricewaterhouseCoopers Japan LLC) |
2023 | Representative of Mami Yunoki Certified Public Accountant Office (to date) |
2024 | Outside Director (Member of the Board), Daiwa Securities Group Inc. (to date) |
Outside Director

Akira Ichikawa
He held positions such as President of Sumitomo Forestry Co., Ltd. and is currently Chairman of the company. The Company expects that, based on his extensive experience in management of a global company and wealth of knowledge on sustainability-oriented management cultivated through his career, he will be able to advise on the management of the Company and supervise the execution of duties by Corporate Executive Officers, and at the Company's 2025 General Meeting of Shareholders he was newly appointed as an outside director.
1978 | Joined Sumitomo Forestry Co., Ltd. |
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2007 | Executive Officer of Sumitomo Forestry Co., Ltd. |
2008 | Director and Managing Executive Officer of Sumitomo Forestry Co., Ltd. |
2010 | President and Representative Director of Sumitomo Forestry Co., Ltd. |
2020 | Chairman of the Board and Representative Director of Sumitomo Forestry Co., Ltd. (to date) |
2025 | Outside Director (Member of the Board), Daiwa Securities Group Inc. (to date) |
Committee Members
Nominating Committee (7), Audit Committee (5) and Compensation Committee (7)
Nominating Committee | Chairman | Toshio Iwamoto |
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Seiji Nakata | ||
Akihiko Ogino | ||
Eriko Kawai | ||
Katsuyuki Nishikawa | ||
Noriko Iki | ||
Akira Ichikawa | ||
Audit Committee | Chairman | Katsuyuki Nishikawa |
Sachiko Hanaoka | ||
Yumiko Murakami | ||
Noriko Iki | ||
Mami Yunoki | ||
Compensation Committee | Chairman | Eriko Kawai |
Seiji Nakata | ||
Akihiko Ogino | ||
Toshio Iwamoto | ||
Yumiko Murakami | ||
Mami Yunoki | ||
Akira Ichikawa |
Corporate Executive Officers (11)
Name | Concurrent post | |
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President and CEO/Representative Corporate Executive Officer | Akihiko Ogino | Member of the Board, Daiwa Securities Group Inc. Representative Director/President, Member of the Board, Daiwa Securities Co. Ltd. |
Deputy President and COO/Representative Corporate Executive Officer | Shinsuke Niizuma | Member of the Board, Daiwa Securities Group Inc. Representative Director/Deputy President, Member of the Board, Daiwa Securities Co. Ltd. |
Deputy President | Keiko Tashiro | Member of the Board, Daiwa Securities Group Inc. |
Deputy President, CIO and CDO | Tomoyuki Murase | Representative Director/Deputy President, Member of the Board, Daiwa Securities Co. Ltd. |
Senior Executive Managing Director | Eiji Sato | Member of the Board, Daiwa Securities Group Inc. Senior Executive Managing Director, Member of the Board, Daiwa Securities Co. Ltd. |
Senior Executive Managing Director | Hiroko Sakurai | Member of the Board, Daiwa Securities Group Inc. Representative Director/Senior Executive Managing Director, Member of the Board, Daiwa Securities Co. Ltd. |
Senior Executive Managing Director | Junichi Serizawa | Senior Executive Managing Director, Member of the Board, Daiwa Securities Co. Ltd. |
Senior Executive Managing Director and CRO | Tsutomu Kobayashi | Senior Executive Managing Director, Member of the Board, Daiwa Securities Co. Ltd. |
Executive Managing Director and CFO | Kotaro Yoshida | Executive Managing Director, Daiwa Securities Co. Ltd. |
Senior Managing Director | Keiichi Ishikawa | Senior Managing Director, Daiwa Securities Co. Ltd. |
Senior Managing Director | Seiji Nakata | Chairman of the Board, Member of the Board, Daiwa Securities Group Inc. Chairman of the Board, Member of the Board, Daiwa Securities Co. Ltd. |
Executive Officers (18)
Name | Concurrent post | |
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Senior Managing Director | Toshihiro Matsui | Vice Chairman, Member of the Board, Daiwa Securities Co. Ltd. |
Senior Managing Director | Masahiro Kobayashi | President, Member of the Board, Daiwa Investment Management Inc. Chairman of the Board, Daiwa Corporate Investment Co., Ltd. Chairman of the Board, Daiwa PI Partners Co. Ltd. Chairman of the Board, Daiwa Energy & Infrastructure Co. Ltd. |
Senior Managing Director | Hironori Oka | Deputy President, Daiwa Securities Co. Ltd. President, Member of the Board, Daiwa International Holdings Inc. |
Senior Managing Director | Tomonori Tsuji | Chairman of the Board, Daiwa Real Estate Asset Management Co. Ltd. Chairman of the Board, Daiwa Securities Realty Co. Ltd. |
Senior Managing Director | Toru Yamamoto | Senior Executive Managing Director, Member of the Board, Daiwa Securities Co. Ltd. |
Senior Managing Director | Naoki Suzuki | Senior Executive Managing Director, Member of the Board, Daiwa Securities Co. Ltd. Chairman, Daiwa Capital Markets America Holdings Inc. Member of the Board, Daiwa Capital Markets Europe Limited |
Senior Managing Director | Atsushi Itaya | Executive Managing Director, Member of the Board, Daiwa Securities Co. Ltd. |
Senior Managing Director | Katsuyasu Murata | Executive Managing Director, Member of the Board, Daiwa Securities Co. Ltd. |
Senior Managing Director | Kenichi Tazawa | Executive Managing Director, Member of the Board, Daiwa Securities Co. Ltd. |
Senior Managing Director and CHO | Hiromasa Kawashima | Executive Managing Director, Daiwa Securities Co. Ltd. |
Senior Managing Director | Yuki Hayakawa | Member of the Board, Daiwa Investment Management Inc., President, Member of the Board, Daiwa PI Partners Co. Ltd. |
Senior Managing Director | Kosuke Mizuno | Executive Managing Director, Daiwa Securities Co. Ltd. Chairman, Daiwa Capital Markets Singapore Limited Chairman, Daiwa Capital Markets Hong Kong Limited |
Senior Managing Director | Keiji Machida | Executive Managing Director, Daiwa Securities Co. Ltd. President and CEO, Daiwa Capital Markets America Holdings Inc. |
Senior Managing Director | Takashi Yamaguchi | Senior Managing Director, Daiwa Securities Co. Ltd. |
Senior Managing Director | Kazunori Fujii | Senior Managing Director, Daiwa Securities Co. Ltd. |
Senior Managing Director | Tsutomu Hiramatsu | Senior Managing Director, Daiwa Securities Co. Ltd. President and CEO, Daiwa Capital Markets Singapore Limited |
Senior Managing Director | Nobuyuki Sawa | Senior Managing Director, Daiwa Securities Co. Ltd. |
Senior Managing Director | Yuji Masuki | Senior Managing Director, Daiwa Securities Co. Ltd. |