Q2 2023 Daiwa Securities Group Inc Earnings Call Transcript

Feb 13, 2024

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Oct 31, 2022 / 08:00AM GMT
Eiji Sato - Daiwa Securities Group Inc. - CFO, Exec. MD, Dep. Director of Planning, Managing Executive Officer & Dep. Head of Overseas

My name is Sato from Daiwa Securities Group. Thank you. Welcome, and thank you very much for attending our conference today. I will discuss our fiscal year '22 second quarter earnings results announced today using the presentation material posted on our website.

Please turn to Page 4. First, let me provide you with a summary of our consolidated results. The percentage change is based on the comparison with FY '22 first quarter. FY '22 second quarter net operating revenue was JPY 110.9 billion, up 4.5% Q-on-Q. Ordinary income was JPY 14.8 billion, down 17.9% Q-on-Q.

Retail division secured ordinary income of JPY 6.1 billion, thanks to the transition to wealth management type of business model as well as the progress in the cost structure reform.

For Wholesale division, while global markets are weak, global investment banking improved. In addition, we booked extraordinary profit of JPY 11.2 billion. We securitized a portion of ownership of

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