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Daiwa Securities Group (8601) investor relations material
Daiwa Securities Group Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary4 Nov, 2025
Executive summary
Net operating revenues for 1H FY2025 rose 5.7% year-over-year to ¥327.8 billion, with Q2 FY2025 up 11.2% sequentially to ¥172.6 billion; ordinary income for Q2 was ¥54.1 billion, up 24% quarter-over-quarter.
Profit attributable to owners of parent reached ¥78.96 billion for 1H FY2025, a 12-year high, with Q2 profit at ¥47.7 billion, up 52.8% sequentially.
Interim dividend set at a record ¥29 per share, payout ratio 51.4%, with full-year minimum guidance of ¥44 per share through FY2027.
Wealth Management, Asset Management, and Global Investment Banking divisions posted strong revenue and income growth, with record asset under custody and wrap account AUM.
Comprehensive income for 1H FY2025 surged 58.3% year-over-year to ¥105.87 billion.
Financial highlights
Commission received totaled ¥218.7 billion for 1H FY2025, up from ¥191.8 billion year-over-year; brokerage commission ¥26.9 billion (+27.5% QoQ), underwriting commission ¥10.8 billion (+21.7% QoQ), M&A fees ¥13.8 billion (+23.5% QoQ).
SG&A expenses were ¥122.7 billion in Q2, up 3.1% quarter-over-quarter.
Base profit reached ¥78.1 billion, up 23.7% year-over-year, outpacing the midterm plan's final year target.
Total assets as of September 30, 2025, were ¥36.91 trillion; net assets ¥1.94 trillion; shareholders' equity ¥1.66 trillion.
Diluted net income per share for 1H FY2025 was ¥55.68; BPS at period end was ¥1,201.74.
Outlook and guidance
Base profit annualized is on track to exceed the ¥150 billion midterm plan target a year ahead if current trends continue.
Management expects continued strong client flows and active transactions in wealth management and market divisions into Q3.
M&A pipeline remains robust, with domestic M&A up 30% year-over-year and Americas up 15%.
IPO pipeline is slightly down, but market conditions and TSE policy changes may provide tailwinds.
No earnings forecasts disclosed for FY2026 due to market uncertainties.
Detail the impact of renewable energy revaluations
Explain Asia/Oceania profit decrease drivers
Outlook for Wealth Management balance-based revenue
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Next Daiwa Securities Group earnings date
Q3 202630 Jan, 2026
Next Daiwa Securities Group earnings date
Q3 202630 Jan, 2026
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Frequently asked questions
Daiwa Securities Group Inc. is a Japanese financial services company that provides a broad range of investment and financial solutions. Its offerings include securities brokerage, investment banking, asset management, and research services. The company serves individual and institutional clients, offering products such as equities, bonds, mutual funds, and structured financial instruments. The company is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.
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