At Daiwa Securities Group, one of our Corporate Principles is "Placing importance on personnel," and we are actively working on "diversity and inclusion" as one of our material issues toward realizing our "Vision 2030". From a variety of perspectives, including gender, age, disabilities, LGBTQ+, human rights, and recruitment routes, we strive to remain a growing-oriented organization by promoting the maintenance of environment in which each and every employee can draw on their strengths, individuality, and expertise and perform to the best of their ability. We have established the Diversity and Inclusion Promotion Committee and the Sustainability Promotion Committee, both of which are chaired by President and CEO Akihiko Ogino and have a wide range of discussions.
Discussions at the Sustainability Promotion Committee are reported to the Executive Committee for deliberation and decision-making as appropriate. In order to monitor the degree of penetration and make improvements according to the progress of initiatives, evaluation items related to the promotion of diversity, such as on "respecting both visible diversity and diversity of perspectives and experiences and encouraging subordinates to maximize their individuality and abilities" and "listening to the opinions and ideas of subordinates in a fair manner and ensuring their psychological safety in managing the organization" are introduced into multifaceted manager evaluations. In addition, we are checking the numerical value for the "Diversity and Respect for Individuals" category in engagement survey results.

Under a corporate culture in which colleagues encourage one another to grow, Daiwa Securities Group has introduced employee-focused human resources measures and systems, flexible work styles, and a range of employee benefits. In 2026, we began publishing the Daiwa Human Capital Report to help employees better understand the rationale behind the introduction of these systems and the situations in which they can be utilized. The report introduces various human resources systems and employee benefits, including a special incentive contribution program through the Group Employee Stock Ownership Association, a student loan repayment support program, and extensive support provided by the Health Insurance Society, together with interviews with employees who have used the systems.

Our in-house newsletter introduces the Group's systems and domestic and overseas initiatives for diversity and inclusion, as well as role models that are active in various careers. In addition, the Group facilitates the sharing of best practices in each department via Group in-house broadcasting.

The top management continuously communicate the initiatives and objectives of diversity and inclusion, including women's success, at meetings attended by all executives and managers, while training for managers, including all line section managers, is conducted to deepen understanding and instill the concept of a support system for a better work-life balance. In addition, a "multifaceted evaluation" is conducted for all management levels, including directors, department managers, and section managers, with the aim of improving their management skills and the productivity of the entire group by having subordinates evaluate their superiors' daily work activities and providing feedback to the managers. Efforts for diversity are also included as evaluation items, and the results are incorporated into manager evaluations.

Daiwa Securities Group proactively appoints talented human resources regardless of gender. In particular, since the percentage of female employees is 40.5% (as of the end of FY2025 at the submitting company and all domestic consolidated subsidiaries), we regard the promotion of women's advancement as the most important issue in the promotion of diversity. In order to further incorporate more diverse perspectives into group management, four female executives were simultaneously appointed in 2009. Currently, Daiwa Securities Group Inc. has six female directors (42.9%), and the Group as a whole has 25 female executives.
Although the business characteristics and personnel composition of each company differ, in order to promote initiatives groupwide, a "D&I Promotion Meeting" (formerly the Women's Advancement Meeting) has been held every six months since FY2014, where human resource officers from each company gather to strengthen cooperation by sharing information on progress and best practices regarding the goals of each company, set in accordance with their respective situations. The increase in the number of role models at each company has made it easier for female employees to envision their career paths. In recent years, the number of employees seeking career advancement by switching to career-track, broad regional career-track, and regional career-track positions has increased significantly. We have also implemented various systems and measures that are beyond the legal requirements to help women continue to work energetically even after going through life events such as marriage and childbirth.

Daiwa Securities Group promotes diversity and inclusion initiatives within the company, while top management makes a commitment by endorsing social organizations and activities.

2015: We support the Declaration on Action by "the Group of Male Leaders Who Will Create A Society in which Women Shine^*1" spearheaded by the Gender Equality Bureau of the Cabinet Office.^*2

• *1Effective March 1, 2026, the name was changed to "the Group of Leaders Who Will Create A Society in which Women Shine"
• *2This is an initiative in which male leaders of leading companies that are actively engaged in promoting women's advancement share the Declaration of Action and expand the network of support in order for women to maximize their potential.

2019: Daiwa Securities Group Inc. has supported the activities of 30% Club Japan^* since its establishment and the President and CEO has participated as a member.

• *An initiative aimed at increasing the proportion of women in the top management of Japanese companies, setting up the target of boosting the percentage of female members in the Board of Directors of TOPIX 100 companies to 30% by 2030.

2021: We support the "Challenge Initiative for 30% of Executives to be Women by 2030 #HereWeGo203030" proposed by the Japan Business Federation (Keidanren).

Targets Related to Initiatives for Empowering Women

Daiwa Securities Group has aimed to raise the ratio of women in director's positions to at least 30% by 2030, and we have set specific targets for the years through the end of FY2026. In this manner, positive steps are being taken to provide an environment in which employees with diverse values can maximize their capabilities.

Targets for Years through the end of FY2026 (Daiwa Securities)

• Women account for at least 25% of managerial positions, with the aim of reaching 30% during the 2020s
• 100% or greater rate of childcare leave use by male employees and a childcare leave duration of 14 days or more

Support for Female Employees' Career Development

Since female employees are relatively more susceptible to the impact of life events on their careers, we provide various career development support programs focused on female employees. First, we have encouraged female employees to apply for the career track change system to assume broader job functions and responsibilities so that they can develop their careers more autonomously. As a result, the number of female employees seeking career advancement has increased significantly, with a cumulative total of 1,211 employees switching to career-track positions (including regional career-track positions) since FY2009. The Professional Return Plan, which rehires employees who left the company for reasons such as childcare or nursing care, has a certain number of users on a continuous basis, while the number of female employees right before being promoted to managerial positions has increased significantly.
We also launched a career support training initiative for female employees (Daiwa Woman's Forum) in FY2014, and from 2018, we have expanded the scope of this training to include managers. These programs have helped female employees to autonomously envision their career paths and contributed to building networks among them.

Appointment of Female Executives and Women in Managerial Positions

Daiwa Securities Group has a total of 25 female executives. We include seven female executives serving as directors and corporate executive officers at Daiwa Securities Group Inc. The number of women in managerial positions is increasing year by year, with the Group's total number standing at 1,066 as of the end of March 2026. The ratio of women in managerial positions has risen from 2.2% at the end of FY2004 to 22.0% at the end of FY2025 on a group-wide basis (up from 2.3% to 24.9% at Daiwa Securities).

Formulation of an action plan based on the Act on the Promotion of Women's Active Engagement in Professional Life

Since each company in Daiwa Securities Group has its own business operations and personnel structure, each company formulates and publishes its own action plan. To promote the initiative, we hold a "D&I Promotion Meeting" (formerly the Women's Advancement Meeting) on a semiannual basis, where human resource executives from each group company gather to engage in discussion. We are further accelerating our efforts to provide an environment in which employees with diverse values can fulfill their full potential.

[A general business owner action plan was formulated and submitted on April 1, 2026]

• Daiwa Securities Action Plan [PDF:135KB] ⟨ Japanese only ⟩
• Daiwa Asset Management Action Plan [PDF:152KB] ⟨ Japanese only ⟩
• Daiwa Institute of Research Action Plan [PDF:137KB] ⟨ Japanese only ⟩
• Daiwa Securities Business Center [PDF:88.4KB] ⟨ Japanese only ⟩

As the careers of employees grow longer, we aim to provide our employees, who have a wealth of experience, with the new skills they need to stay at the forefront of our times, and to create environments in which they can continue to thrive, thereby contributing to the sustained growth of our company.

Daiwa Securities Group has in place a Senior Advisor System that enables employees with a wealth of experience to play an active role in the workplace. Senior advisors are dispatched to locations of their choice and engage in community-based consulting and sales from a long-term perspective. In FY2017, we eliminated employment age limits for senior advisors, enabling them to continue working regardless of their age. For employees in other positions as well, we have raised the retirement age to 70, provided that certain conditions are met.

We have created a Senior Fellow System and have established a personnel system for senior employees with outstanding expertise and knowledge who have made remarkable achievements. We support both work and caregiving, and are creating an environment in which employees can thrive without worrying about their future lives.
We have introduced long service leave for employees in their 20th year and 30th year at the Group. The leave is designed with gratitude to provide employees who have contributed greatly to the Group's development with an opportunity to refresh themselves and spend time with their parents, spouse, and other people around them who always support them.

As of the end of FY2025, Daiwa Securities Group had more than 200 employees with disabilities handling a wide range of responsibilities in our head office, sales branches and contact centers. We started recruiting new graduates with disabilities as regular employees (general office staff) in FY2008, and in FY2011 broadened the scheme to career-track employees, regional career-track employees, and customer service employees. Once people with disabilities are hired, we provide support for their career advancement by, for example, creating opportunities for them to enter the career-track and regional career-track employment opportunities. To further strengthen our support to employees, we also introduced the Daiwa LEAP Plan in 2018. This provides comprehensive support including a leave program for outpatient treatment, subsidies for expenses incurred to start work, and the introduction of support tools according to the type of disability. The Plan is a measure for bringing out employees' talents while taking their respective circumstances into consideration, and developing a pleasant working environment.
We have vigorously increased recruitment opportunities by holding briefings about the company for new graduates, participating in career expos, and implementing job placement support programs for university students with disabilities.
Moreover, Daiwa Securities Group participates in the Accessibility Consortium of Enterprises (ACE), a general incorporated association, as a member. ACE was founded for the purpose of establishing a model for people with disabilities that contributes to corporate growth, and communicating information to society concerning human resources sought by businesses. As of March 2026, ACE has 31 corporate members, mostly large companies. Through the holding of seminars and workshops for human resources personnel and employees with disabilities, as well as issuance of educational brochures, ACE carries out awareness-raising activities for parties concerned, creates role models, and makes proposals to management and society. Our Group's "Daiwa LEAP Plan" initiative received a "Special Award" in the "Environment Creation Category" of the 2020 ACE Awards.

To deepen understanding of LGBTQ+ issues, we provide training for all employees every year. LGBTQ+ themes are also covered in Human Rights Awareness Workshops, in which employees at each department and office watch videos and participate in discussions.
To create a work environment where individuals can work in a way that is more true to themselves, we are solving and eliminating all forms of discrimination in recruitment and employment and at work, expanding personnel systems to accommodate partnerships, establishing the 'Daiwa ALLY Network', an employee-led community to exchange opinions and raise awareness on LGBTQ+, and providing both internal and external consultation services to create an environment where it is easy to seek advice. Additionally, we provide support tailored to the circumstances of each individual, such as allowing employees transitioning genders to take leave. Starting in 2024, we have sponsored Tokyo Pride (formerly Tokyo Rainbow Pride). More than 100 officers and employees participate together in the parade, helping to raise awareness of our initiatives both internally and externally. In 2026, we created the Daiwa Ally Charm, which can easily be attached to a lanyard to show support as an Ally, and distributed it to approximately 2,000 employees who identified themselves as Allies. While developing a workplace environment where all employees can work to their full potential, we aim to nurture an inclusive culture.

The PRIDE Index was established in 2016 by work with Pride to encourage the creation in Japan of workplaces where LGBTQ+ and other sexual minorities can work with comfort and became the first LGBTQ+-related evaluation index established for companies and other organizations in Japan.
Four Group companies, namely, Daiwa Securities Group Inc., Daiwa Securities, Daiwa Asset Management and Daiwa Institute of Research have received Gold evaluation for the second consecutive year in the PRIDE Index, in recognition of their workplace initiatives for LGBTQ+ and other sexual minorities.

Daiwa Securities Group is endorsing Business Support for LGBT Equality in Japan and declares that it will prohibit any discrimination based on sexual orientation or gender identity and will work for the creation of an inclusive workplace and society where everyone is treated equally.