Daiwa Securities Group Inc.
FY2026 2nd Quarter Earnings Presentation
Revenue, ordinary income and net income reached record highs for the first half. The primary drivers were accumulation of balance-based revenue and fund inflows into wrap accounts and equity investment trusts. Consolidation of ORIX Bank expanded contributions in some divisions, and ROE was high at 12.0% (first half). Progress toward the medium-term plan exceeded 80%.
Key Figures
- Net Operating Revenue 2,223,902 million yen (Year-over-Year +1.6%)
- Ordinary Income 7,826 million yen (Year-over-Year +41.9%)
- ROE 12.0% (first half)
AI要約
Overview of Results
For the FY2026 2nd quarter consolidated results, net operating revenue was 223,902 million yen (Year-over-Year +1.6%) and ordinary income was 7,826 million yen (Year-over-Year +41.9%), marking a significant increase. Each segment, including Daiwa Securities Headquarters, Asset Management (AM) and GM&IB, maintained solid performance. With the consolidation of ORIX Bank, the revenue structure has been enhanced across WM, AM and GIB. The interim dividend is 39 yen, and ROE remains high at 12.0% versus the initial forecast. Capital adequacy-related health indicators are also favorable.
Outlook and Key Drivers
Progress toward the medium-term plan has surpassed 80%. As long as accumulation of balance-based revenue continues, stable profits centered on wrap accounts and equity investment trusts are expected. The consolidation effects of ORIX Bank are expected to continue contributing, and GM&IB is expected to sustain profit growth among segments. While FICC impacts overseas business, overall performance remains solid.
Revenue Trend
Operating Profit Trend
Revenue by Segment
Margin Analysis
Guidance vs Actual Comparison
Daiwa Securities Group Inc.
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