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    8601   JP3502200003

DAIWA SECURITIES GROUP INC.

(8601)
  Report
Delayed Japan Exchange  -  01:00:00 2023-02-03 am EST
610.00 JPY   +0.83%
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Daiwa Securities : Presentation for 2Q FY2022

10/31/2022 | 02:00am EST

Daiwa Securities Group Inc.

2Q FY2022 Earnings Announcement

October 31, 2022

This presentation may contain forward-looking statements about the Daiwa Securities Group. You can identify these statements by the fact that they do not relate strictly to historic or current facts. These statements discuss future expectations, identify strategies, contain projections of results of operations or of financial condition or state other "forward-looking" information. These statements are based on currently available information and represent the beliefs of the management of the Daiwa Securities Group. These statements are subject to numerous risks and uncertainties that could cause the Daiwa Securities Groupʼs actual results, performance, achievements or financial condition to differ materially from those described or implied in the forward-looking statements. The Daiwa Securities Group undertakes no obligation to publicly update any forward-looking statements after the date of this presentation. These potential risks and uncertainties include, but are not limited to: competition within the financial services industries in Japan and overseas, our ability to adjust our business focus and to maintain profitable strategic alliances, volatile and sudden movements in the international securities markets, foreign exchange and global economic situations affecting the Daiwa Securities Group.

Table of Contents

Highlights

3-4

Financial Summary

5-7

B/S & Financial Management Summary

8-9

P/L Summary

10

Breakdown of SG&A

11-12

Overseas Operations

13

Segment Information

14-21

Reference

22-35

2

Highlights (2Q/FY2022, YoY)

Both net operating revenues and ordinary income decreased YoY.

Consolidated earnings results

FY2022 1H

FY2021 1H

% Changes vs

1H/FY2021

Net operating revenues

¥217.0 bn

¥255.9 bn

-15.2%

Ordinary income

¥32.9 bn

¥71.9 bn

-54.2%

Profit attributable to owners of parent

¥31.4 bn

¥50.2 bn

-37.3%

  • Retail Division decreased in both operating revenues and ordinary income due to a decrease in revenues from customer order flow, but maintained ordinary income of ¥12.4 bn led by steady progress in shifting to wealth management business model and cost reduction.
    • Contract amount of wrap account service* is ¥297.3 bn and net inflow expanded to ¥165.9 bn.
  • For Wholesale Division, ordinary income for Global Markets and Global Investment Banking deteriorated due to a decrease in client activities.
  • Asset Management Division increased net operating revenues but decreased ordinary income.
    • In securities asset management, net inflow of publicly offered stock investment trusts (excluding ETF) was ¥269.3 bn, the highest level in seven years.
    • Real estate asset management reached a record high in net operating revenue and ordinary income. **
  • In Investment Division, ordinary income jumped 3.8 times led by revenue expansion from private equity investment.
  • Overseas operations doubled in ordinary income YoY.

FY2022 interim dividend per share is 11 yen ( Dividend payout ratio : 51.8%)

* Includes Wholesale Division ** Since disclosures of segment information started in FY2010

3

Summary (2Q/FY2022, QoQ)

Ordinary Income is ¥14.8 bn, decrease of 17.9% QoQ .

Consolidated earnings results

FY2022 2Q

FY2022 1Q

% Changes vs

1Q/FY2022

Net operating revenues

¥110.9 bn

¥106.1 bn

+4.5%

Ordinary income

¥14.8 bn

¥18.0 bn

-17.9%

Profit attributable to owners of parent

¥19.5 bn

¥11.8 bn

+64.8%

  • For Retail Division, secured ordinary income of ¥6.1 bn with steady progress in shifting to wealth management business model and cost reduction.
  • For Wholesale Division, Global Markets slowed whilst Global Investment Banking improved.
  • Recorded a gain of ¥11.2 bn on the sale of a portion of the stake in Tokiwabashi Tower in order to expand assets under management in the real estate asset management business.
  • Annualized ROE: 5.5%

Ordinary Income

Profit Attributable to

Net Operating Revenues

Owners of Parent

(¥ Billions)

(¥ Billions)

(¥ Billions)

4

Consolidated

Financial Summary

FY2021

FY2022

% Change

% Change

FY2021

FY2022

% Change

(¥ Millions)

vs

vs

vs

FY2021

2Q

3Q

4Q

1Q

2Q

1H

1H

1Q/FY22

2Q/FY21

1H/FY21

Operating revenues

154,702

166,599

148,333

146,640

192,552

31.3%

24.5%

304,538

339,193

11.4%

619,471

Net operating revenues

129,222

134,374

111,776

106,122

110,933

4.5%

-14.2%

255,943

217,055

-15.2%

502,093

SG&A

98,544

98,323

94,817

97,274

98,942

1.7%

0.4%

193,417

196,216

1.4%

386,559

Ordinary income

36,997

40,561

23,340

18,085

14,855

-17.9%

-59.8%

71,919

32,941

-54.2%

135,821

Profit (loss) attributable to

26,642

26,698

17,989

11,878

19,576

64.8%

-26.5%

50,203

31,455

-37.3%

94,891

owners of parent

Total assets

25,510,806

26,415,274

27,531,089

28,747,174

31,461,475

25,510,806

31,461,475

27,531,089

Net assets

1,612,395

1,600,496

1,639,888

1,668,661

1,697,428

1,612,395

1,697,428

1,639,888

Shareholders' equity*

1,344,702

1,331,188

1,373,282

1,400,590

1,428,464

1,344,702

1,428,464

1,373,282

EPS (¥)

17.54

17.90

12.13

8.01

13.24

32.99

21.24

63.06

BPS (¥)

889.70

897.76

925.81

943.71

971.62

889.70

971.62

925.81

ROE (Annualized)

8.0%

8.0%

5.3%

3.4%

5.5%

7.5%

4.5%

7.0%

FY2022 Interim Dividend

* Shareholders' equity = Owners' equity + Accumulated other comprehensive income

11 yen

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Daiwa Securities Group Inc. published this content on 31 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2022 06:59:05 UTC.


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Net income 2023 68 417 M 523 M 523 M
Net Debt 2023 - - -
P/E ratio 2023 12,8x
Yield 2023 3,91%
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