1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. Daiwa Securities Group Inc.
  6. News
  7. Summary
    8601   JP3502200003

DAIWA SECURITIES GROUP INC.

(8601)
  Report
Delayed Japan Exchange  -  05/27 02:00:00 am EDT
623.90 JPY   +1.30%
05/25Japan's Daiwa eyes 40% growth in M&A advisory revenue in a few years - CEO
RE
05/25Japanese shares end lower on Wall Street weakness
RE
05/24Japanese shares inch lower on Wall Street weakness
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Daiwa has shaken off Japan taboo on advising hostile takeovers, CEO says

12/27/2021 | 02:58pm EDT
FILE PHOTO: Nakata, new President and CEO of Japan's second-largest brokerage Daiwa Securities Group Inc, speaks during an interview with Reuters at the company's headquarters in Tokyo

TOKYO (Reuters) - Daiwa Securities Group Inc, Japan's second-largest brokerage and investment bank, is no longer hesitant to advise a hostile acquirer if a deal would benefit the target company or its industry, its CEO told Reuters.

"The general consensus used to be that we shouldn't handle such deals," Chief Executive Seiji Nakata said in an interview. "We now take them on merit," he said, while stressing that non-hostile approaches usually work better.

His comments underline a sea change within Japan Inc, where hostile takeovers were viewed with such disdain that they were all but taboo.

They are, however, now on the rise. According to M&A advisory firm Recof, there have been at least nine this year, up from just two per year at most in the decade through 2018.

Nakata said whereas Japanese firms were once reluctant to take on the burden of merging corporate cultures, the coronavirus pandemic had forced many to re-evaluate their growth opportunities and M&A, including hostile bids, now looked much more attractive as a strategic option.

Daiwa reported 19.8 billion yen ($173 million) in M&A-related fees in April-September, a record for its first half, driven by a wave of deals in Europe and the United States.

It first formulated its on-merit stance when Daiwa advised optical products maker Hoya Corp in its 2019 unsolicited and ultimately unsuccessful bid for Toshiba Corp's chip equipment unit, Nakata said.

Daiwa also advised furniture chain operator Nitori Holdings in its unsolicited bid for home improvement retailer Shimachu last year. Shimachu later agreed to Nitori's buyout offer.

($1 = 114.4100 yen)

(Reporting by Makiko Yamazaki and Yuki Nitta; Editing by Edwina Gibbs)

By Makiko Yamazaki and Yuki Nitta


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DAIWA SECURITIES GROUP INC. 1.30% 623.9 Delayed Quote.-3.82%
HOYA CORPORATION 1.29% 13700 Delayed Quote.-19.93%
NITORI HOLDINGS CO., LTD. 0.16% 12750 Delayed Quote.-25.98%
NITTA CORPORATION 0.54% 2808 Delayed Quote.-4.72%
TOSHIBA CORPORATION 1.68% 5760 Delayed Quote.21.78%
All news about DAIWA SECURITIES GROUP INC.
05/25Japan's Daiwa eyes 40% growth in M&A advisory revenue in a few years - CEO
RE
05/25Japanese shares end lower on Wall Street weakness
RE
05/24Japanese shares inch lower on Wall Street weakness
RE
05/13Nikkei sees best day since late-March, led by SoftBank gains
RE
05/12Japanese shares rise on bargain hunting; SoftBank shines
RE
05/10Daiwa Securities' Investment Arm Injects Capital in Private Equity Fund, Launches Singa..
MT
05/02Japanese shares end lower as investors await FOMC outcome
RE
04/28Japanese Stocks Recover as Central Bank Keeps Monetary Settings Intact; Toyota Surpasse..
MT
04/28Daiwa Securities Books 13% Fall in FY21 Attributable Profit; Plans $193 Million Share B..
MT
04/27[UPDATED] NOTICE REGARDING FY2021 YE : 144kb]
PU
More news
Analyst Recommendations on DAIWA SECURITIES GROUP INC.
More recommendations
Financials
Sales 2022 603 B 4 747 M 4 747 M
Net income 2022 98 282 M 773 M 773 M
Net Debt 2022 - - -
P/E ratio 2022 9,52x
Yield 2022 5,35%
Capitalization 925 B 7 282 M 7 282 M
Capi. / Sales 2022 1,53x
Capi. / Sales 2023 1,66x
Nbr of Employees 15 096
Free-Float 82,2%
Chart DAIWA SECURITIES GROUP INC.
Duration : Period :
Daiwa Securities Group Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DAIWA SECURITIES GROUP INC.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Last Close Price 623,90 JPY
Average target price 649,56 JPY
Spread / Average Target 4,11%
EPS Revisions
Managers and Directors
Seiji Nakata Executive President, CEO & Representative Director
Eiji Sato CFO & Managing Executive Officer
Takashi Hibino Director, Head-personnel & Legal Affairs
Tomoyuki Murase Managing Executive Officer
Toshihiro Matsui COO, Director & Representative Executive VP
Sector and Competitors
1st jan.Capi. (M$)
DAIWA SECURITIES GROUP INC.-3.82%7 282
MORGAN STANLEY-11.93%151 226
THE CHARLES SCHWAB CORPORATION-16.06%133 863
THE GOLDMAN SACHS GROUP, INC.-14.11%107 848
CITIC SECURITIES COMPANY LIMITED-25.75%41 100
CSC FINANCIAL CO., LTD.-15.47%22 761