Overview
Securities and Commodities Futures

Daiwa Securities Group Inc.

Daiwa Securities Group is a leading Japanese integrated financial services group with securities business at its core, providing a comprehensive range of investment and financial services including securities brokerage, underwriting, asset management, and banking. The Group operates across three business segments — Wealth Management, Asset Management, and Global Markets & Investment Banking — serving both retail and institutional clients. With a global network spanning Japan, Europe, Asia, and the Americas, the Group addresses clients' diverse fundraising and investment needs worldwide.

Market Cap
¥2,372B
US$15.1B
EV
¥—B
Stock¥1,709.5▲+0.68%
US$1 = ¥156.80 (2026-10-23)
ROE
11.2%
* LTM NI / end-of-period equity
PBR
1.3
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+26.8%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
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Performance & Balance
Revenue 5Y (¥B)
619US$3.95B'22/3866US$5.52B'23/31,277US$8.15B'24/31,372US$8.75B'25/31,468US$9.36B'26/3
EBITDA 5Y (¥B)
160US$1.02B'22/3110US$703M'23/3199US$1.27B'24/3211US$1.35B'25/3252US$1.61B'26/3
Net Income 5Y (¥B)
94.9US$605M'22/363.9US$407M'23/3122US$775M'24/3154US$984M'25/3175US$1.12B'26/3
Capital Structure
22%
78%
EquityD/E 3.51xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
5,036US$32.1B5,519US$35.2B'22/34,322US$27.6B5,051US$32.2B'23/34,891US$31.2B5,170US$33.0B'24/34,375US$27.9B5,392US$34.4B'25/34,463US$28.5B5,772US$36.8B'26/3
Shareholders
Top 10 hold 33.6%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
14.74%
2
Custody Bank of Japan, Ltd. (Trust Account)
4.63%
3
Taiyo Life Insurance Company
2.96%
4
Nippon Life Insurance Company
2.24%
5
JAPAN POST HOLDINGS Co.,Ltd.
2.16%
6
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
1.86%
7
JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)
1.40%
8
Nomura Trust and Banking Co., Ltd. (Investment Trust Account)
1.36%
9
Daiwa Co.,Ltd. Stock Ownership Association
1.24%
10
Barclays Securities Japan Limited
1.00%
Management
14 officers
Seiji NAKADA
Director and Chairman
Apr 1983 Joined the Company Apr 1999 Transferred to Daiwa SB Capital Markets Ltd. Apr 2005 General Manager, Product Strategy Department, Daiwa Securities SMBC Co. Ltd. Apr 2006 Executive Officer in charge of Planning, Daiwa Securities SMBC Co. Ltd. Apr 2007 Executive Officer in charge of Planning and Deputy in charge of Personnel; General Manager, Corporate Planning Department, the Company Oct 2008 Deputy in charge of Planning and Deputy in charge of Personnel, the Company Apr 2009 Managing Executive Officer, the Company Jun 2009 Director and Managing Executive Officer, the Company Apr 2010 Director, the Company; Managing Director, Daiwa Capital Markets Co. Ltd. Jun 2010 Senior Officer in charge of Corporate Sales, Business Corporations and Corporate Division, Daiwa Capital Markets Co. Ltd. Apr 2011 Senior Officer in charge of Business Corporations, Corporate Sales and Corporate Division, Daiwa Capital Markets Co. Ltd. Apr 2012 Senior Managing Director and Head of Corporate Division, Daiwa Securities Co. Ltd. Apr 2015 Senior Managing Executive Officer and Deputy in charge of Retail Division, the Company Apr 2016 Representative Executive Vice President, Chief Operating Officer (COO) and in charge of Retail Division, the Company; Representative Vice President, Daiwa Securities Co. Ltd. Jun 2016 Director and Representative Executive Vice President, the Company Apr 2017 Director and Representative Executive President, Chief Executive Officer (CEO) and in charge of Retail Division, the Company; President and Representative Director, Daiwa Securities Co. Ltd. Apr 2020 Chief Executive Officer (CEO), the Company Apr 2024 Chairman of the Board and Executive Officer, the Company (current) Chairman and Representative Director, Daiwa Securities Co. Ltd. (current) Principal concurrent positions: Chairman and Representative Director, Daiwa Securities Co. Ltd.; Outside Director, Imperial Hotel, Ltd.
1960-07-16
Akihiko OGINO
Director
Apr 1989 Joined the Company Apr 2010 General Manager, Corporate Planning Department, the Company Apr 2014 Executive Officer in charge of Legal Affairs and Deputy in charge of Planning, the Company; Executive Officer, Daiwa Securities Co. Ltd. Apr 2015 In charge of Legal Affairs, Deputy in charge of Planning and Deputy in charge of Overseas Operations, the Company Apr 2016 In charge of Legal Affairs and Deputy in charge of Planning, the Company Apr 2017 Managing Executive Officer, the Company; Managing Executive Officer, Daiwa Securities Co. Ltd. Apr 2019 Senior Managing Executive Officer in charge of Planning and Legal Affairs and overseeing Personnel, the Company; Senior Managing Director, Daiwa Securities Co. Ltd. Jun 2020 Director and Senior Managing Executive Officer, the Company Apr 2022 Director and Representative Executive Vice President overseeing Planning and Personnel, the Company; Representative Vice President, Daiwa Securities Co. Ltd. Apr 2024 Director and Representative Executive Officer, President and Chief Executive Officer (CEO), the Company (current) Representative Director and President, Daiwa Securities Co. Ltd. (current) Principal concurrent positions: Representative Director and President, Daiwa Securities Co. Ltd.
1966-01-28
Eiji SATO
Director
Apr 1991 Joined the Company Oct 2005 Transferred to Daiwa Securities SMBC Co. Ltd. Oct 2014 General Manager, Corporate Planning Department, the Company Apr 2017 Executive Officer and Deputy in charge of Planning and General Manager, Corporate Planning Department, the Company; Executive Officer, Daiwa Securities Co. Ltd. Apr 2019 Executive Officer, Chief Financial Officer (CFO), Deputy in charge of Planning and Deputy in charge of Overseas Operations, the Company Apr 2020 Managing Executive Officer, the Company; Managing Executive Officer, Daiwa Securities Co. Ltd. Apr 2022 Chief Financial Officer (CFO) in charge of Planning and Deputy in charge of Overseas Operations, the Company; Managing Director, Daiwa Securities Co. Ltd. Apr 2023 Senior Managing Executive Officer and Chief Financial Officer (CFO) in charge of Planning, the Company; Senior Managing Director, Daiwa Securities Co. Ltd. Apr 2024 In charge of Planning, the Company Jun 2024 Director and Senior Managing Executive Officer, the Company Apr 2025 In charge of Planning and Deputy in charge of Overseas Operations, the Company Apr 2026 Director and Representative Executive Vice President, Chief Operating Officer (COO), the Company (current) Representative Vice President, Daiwa Securities Co. Ltd. (current) Principal concurrent positions: Representative Vice President, Daiwa Securities Co. Ltd.
1969-02-14
Junichi SERIZAWA
Director
Apr 1992 Joined the Company Apr 1999 Transferred to Daiwa Securities Co. Ltd. Apr 2015 Branch Manager, Shibuya Branch, Daiwa Securities Co. Ltd. Apr 2017 Executive Officer in charge of Sales and Branch Manager, Kyoto Branch, Daiwa Securities Co. Ltd. Apr 2020 Senior Managing Executive Officer in charge of Sales, Daiwa Securities Co. Ltd. Apr 2022 Senior Managing Director, Daiwa Securities Co. Ltd. Apr 2023 Senior Managing Director and General Manager, Sales Division, Daiwa Securities Co. Ltd. Apr 2024 Senior Managing Executive Officer and Deputy in charge of Wealth Management, the Company Apr 2026 Representative Executive Vice President in charge of Wealth Management, the Company; Representative Vice President, Daiwa Securities Co. Ltd. (current) Jun 2026 Director and Executive Vice President, the Company (current) Principal concurrent positions: Representative Vice President, Daiwa Securities Co. Ltd.
1967-10-28
Yuko SAKURAI
Director
Apr 1988 Joined the Company Apr 1999 Transferred to Daiwa SB Capital Markets Ltd. Apr 2013 General Manager, IR Office, the Company Apr 2016 Executive Officer in charge of Private Banking, Daiwa Securities Co. Ltd. Apr 2019 Managing Executive Officer in charge of Private Banking and Direct Business, Daiwa Securities Co. Ltd. Oct 2019 In charge of Private Banking, Contact Center, Deputy in charge of Sales Planning and Net Business, Daiwa Securities Co. Ltd. Apr 2021 Managing Director in charge of Private Banking, Contact Center and Mass Marketing, Daiwa Securities Co. Ltd. Apr 2022 In charge of Private Banking and Contact Center, Daiwa Securities Co. Ltd. Apr 2023 Senior Managing Executive Officer in charge of Compliance, the Company; Representative Senior Managing Director, Daiwa Securities Co. Ltd. Jun 2025 Director and Senior Managing Executive Officer, the Company Apr 2026 Director and Representative Executive Vice President, the Company (current) Representative Vice President, Daiwa Securities Co. Ltd. (current) Principal concurrent positions: Representative Vice President, Daiwa Securities Co. Ltd.
1965-08-19
Kotaro YOSHIDA
Director
Apr 1992 Joined the Company Feb 2002 Transferred to Daiwa Securities Co. Ltd. Apr 2007 Transferred to Daiwa Securities SMBC Co. Ltd. Apr 2019 General Manager, Corporate Planning Department, the Company Apr 2021 Executive Officer and Deputy in charge of Product and Solutions, Daiwa Securities Co. Ltd. Apr 2023 In charge of Product and Solutions, Daiwa Securities Co. Ltd. Apr 2024 Managing Executive Officer and Chief Financial Officer (CFO), the Company; Managing Executive Officer, Daiwa Securities Co. Ltd. Apr 2025 Managing Executive Officer and Chief Financial Officer (CFO), the Company; General Manager, Finance Department Jul 2025 Managing Executive Officer and Chief Financial Officer (CFO), the Company Apr 2026 Managing Director, Daiwa Securities Co. Ltd. (current) Jun 2026 Director and Managing Executive Officer, the Company (current) Principal concurrent positions: Managing Director, Daiwa Securities Co. Ltd.
1968-06-03
Sachiko HANAOKA
Director
Apr 1990 Joined the Company Mar 1995 Transferred to Daiwa Institute of Research Ltd. Oct 1999 Transferred to Daiwa Securities Co. Ltd. Apr 2012 General Manager, Investment Information Department, Daiwa Securities Co. Ltd. Apr 2019 Executive Officer, the Company Audit & Supervisory Board Member, Daiwa Securities Co. Ltd. (current) Audit & Supervisory Board Member, Daiwa Asset Management Co. Ltd. (formerly Daiwa Investment Trust Management Co. Ltd.) (current) Audit & Supervisory Board Member, Daiwa Institute of Research Business Innovation Ltd. Audit & Supervisory Board Member, Daiwa Real Estate Asset Management Co. Ltd. Jun 2019 Director, the Company (current) Apr 2021 Audit & Supervisory Board Member, Daiwa Institute of Research Ltd. (current) Principal concurrent positions: Audit & Supervisory Board Member, Daiwa Securities Co. Ltd.; Audit & Supervisory Board Member, Daiwa Asset Management Co. Ltd.; Audit & Supervisory Board Member, Daiwa Institute of Research Ltd.
1967-05-28
Katsuyuki NISHIKAWA
Director
Apr 1979 Appointed Public Prosecutor, Osaka District Public Prosecutors Office Jan 2008 Director-General, Correction Bureau, Ministry of Justice Jul 2008 Commissioner, Immigration Bureau, Ministry of Justice Jul 2009 Director-General, Criminal Affairs Bureau, Ministry of Justice Aug 2011 Vice-Minister of Justice Jan 2014 Superintendent Public Prosecutor, Sapporo High Public Prosecutors Office Dec 2015 Superintendent Public Prosecutor, Tokyo High Public Prosecutors Office Sep 2016 Prosecutor General Jul 2018 Retired as Prosecutor General Sep 2018 Attorney-at-law (current) Jun 2019 Director, the Company (current) Principal concurrent positions: Attorney-at-law, Katsuyuki Nishikawa Law Office; Outside Audit & Supervisory Board Member, AEON Hokkaido Corporation
1954-02-20
Toshio IWAMOTO
Director
Apr 1976 Joined Nippon Telegraph and Telephone Public Corporation Jun 2004 Director, NTT DATA Corporation (currently NTT DATA Group Corporation) Jun 2005 Executive Officer, NTT DATA Corporation Jun 2007 Director and Managing Executive Officer, NTT DATA Corporation Jun 2009 Representative Director and Executive Vice President, NTT DATA Corporation Jun 2012 Representative Director and President, NTT DATA Corporation Jun 2018 Senior Adviser, NTT DATA Corporation Jun 2020 Director, the Company (current) Principal concurrent positions: Outside Director, East Japan Railway Company; Outside Director, Mitsukoshi Isetan Holdings Ltd.; Outside Director, Sumitomo Forestry Co. Ltd.
1953-01-05
Yumiko MURAKAMI
Director
Aug 1989 United Nations Development Programme (Barbados) Jan 1991 United Nations Secretariat (New York) Sep 1991 United Nations Transitional Authority in Cambodia (Phnom Penh) Aug 1994 Goldman Sachs International (London) May 1997 Goldman Sachs and Co. (New York) Dec 2004 Managing Director, Goldman Sachs and Co. Apr 2008 Managing Director, Goldman Sachs Securities Co. Ltd. Sep 2009 Managing Director, Credit Suisse Securities (Japan) Ltd. Sep 2013 Director, OECD Tokyo Centre Jun 2021 Director, the Company (current) Principal concurrent positions: General Partner and Director, MPower Inc.
1965-02-06
Noriko IKI
Director
Apr 1979 Joined the Ministry of Labour Jul 2009 Director-General, Equal Employment, Children and Families Bureau, Ministry of Health, Labour and Welfare Jul 2010 Senior Research Fellow, Japan Institute for Labour Policy and Training Sep 2012 Director, Tokyo Labour Bureau, Ministry of Health, Labour and Welfare Apr 2014 Ambassador Extraordinary and Plenipotentiary to Brunei Darussalam Jun 2018 Chairperson, 21st Century Job Foundation Jun 2023 Senior Adviser, 21st Century Job Foundation (current) Director, the Company (current) Principal concurrent positions: Senior Adviser, 21st Century Job Foundation; Outside Director, Fujikyu Corporation
1956-03-21
Mami YUNOKI
Director
May 1985 Joined Aoyama Audit Corporation Sep 2006 Joined Arata Audit Corporation (currently PricewaterhouseCoopers Japan LLC) Jul 2008 Partner, Arata Audit Corporation Jul 2016 Executive Partner in charge of Manufacturing, Distribution and Services Sector, PwC Arata LLC (currently PricewaterhouseCoopers Japan LLC) Member, Financial Functions Enhancement Review Committee, Financial Services Agency Sep 2020 Part-time Lecturer, Graduate School of Hitotsubashi University (current) Jul 2023 Director, Mami Yunoki Certified Public Accountant Office (current) Mar 2024 Outside Audit & Supervisory Board Member, Chugai Pharmaceutical Co. Ltd. (current) Jun 2024 Director, the Company (current) Principal concurrent positions: Director, Mami Yunoki Certified Public Accountant Office; Outside Audit & Supervisory Board Member, Chugai Pharmaceutical Co. Ltd.; Outside Director, ORIX Corporation
1963-05-27
Akira ICHIKAWA
Director
Apr 1978 Joined Sumitomo Forestry Co. Ltd. Jun 2007 Executive Officer, Sumitomo Forestry Co. Ltd. Jun 2008 Director and Managing Executive Officer, Sumitomo Forestry Co. Ltd. Apr 2010 Representative Director and President, Sumitomo Forestry Co. Ltd. Apr 2020 Representative Director and Chairman, Sumitomo Forestry Co. Ltd. (current) Jun 2025 Director, the Company (current) Principal concurrent positions: Representative Director and Chairman, Sumitomo Forestry Co. Ltd.; Outside Director, Sumitomo Chemical Co. Ltd.; Representative Director and Chairman, Japan Wooden Housing Industry Association; Representative Director and Chairman, Urban Greening Organization Foundation; Representative Director and Chairman, International Housing, Architecture, Urban and Industry Association
1954-11-12
Christina AHMADJIAN
Director
Jan 1995 Assistant Professor, Columbia Business School Oct 2001 Associate Professor, Graduate School of International Corporate Strategy, Hitotsubashi University Jan 2004 Professor, Graduate School of International Corporate Strategy, Hitotsubashi University Apr 2010 Dean, Graduate School of International Corporate Strategy, Hitotsubashi University Apr 2012 Professor, Graduate School of Commerce and Management, Hitotsubashi University Apr 2018 Professor, Graduate School of Business Administration, Hitotsubashi University Apr 2022 Professor Emeritus, Hitotsubashi University Apr 2025 Outside Director, Daiwa Securities Co. Ltd. Jun 2026 Director, the Company (current) Principal concurrent positions: Outside Director, Yokogawa Electric Corporation; Outside Director, DISCO Corporation; Outside Director, The University of Tokyo Edge Capital Partners Co. Ltd.; Trustee, Hokkaido University
1959-03-05
Large Shareholding Reports
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2025-09-19
3.36%→2.65%
Silchester International Investors LLP
2023-10-31
5.06%→4.02%
Silchester International Investors LLP
2022-05-20
5.06%
Disclosures
M&A / Other
2026-08-03
Primary Source Filings
TDnet
2026-08-06
Q1 Earnings Flash
TDnet
2026-08-03
M&A / Other
TDnet
2026-08-03
Q1 Earnings Flash
FY ending Mar 2027
EDINETAmended
2026-06-22
Amended Securities Registration Statement
EDINETAmended
2026-06-22
Amended Securities Registration Statement
EDINET
2026-06-19
Securities Registration Statement
EDINET
2026-06-19
Securities Registration Statement
EDINET
2026-06-17
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-05
Q3 Earnings Flash
TDnet
2026-02-02
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-08-04
Q1 Earnings Flash
TDnet
2025-07-30
Q1 Earnings Flash
FY ending Mar 2026
EDINETAmended
2025-06-23
Amended Securities Registration Statement
EDINET
2025-06-20
Securities Registration Statement
EDINET
2025-06-18
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-05
Q3 Earnings Flash
FY ending Mar 2025
TDnet
2025-01-31
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-06
Q1 Earnings Flash
FY ending Mar 2025
TDnet
2024-08-01
Q1 Earnings Flash
FY ending Mar 2025
EDINETAmended
2024-06-24
Amended Securities Registration Statement
EDINETAmended
2024-06-24
Amended Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2024-06-24
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-06-21
Securities Registration Statement
EDINET
2024-05-20
中期経営計画
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-10-31
Large Shareholding Report
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