Q1 2025 Daiwa Securities Group Inc Earnings Call Transcript

Aug 01, 2024

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Aug 01, 2024 / 08:00AM GMT
Kotaro Yoshida - Daiwa Securities Group Inc - Managing Executive Officer, Chief Financial Officer

I am Kotaro Yoshida from Daiwa Securities Group. Thank you for taking time out of your busy schedule today to attend our telephone conference. I will now explain the financial results for Q1 of FY 2024 announced today in accordance with the explanatory materials posted on our website.

Please turn to page 4. First, I will explain the summary of consolidated financial results presented figures represent changes from Q4 of FY 2023. Net operating revenues for Q1 was JPY149.1 billion, down 9.4%. Ordinary income was JPY37.7 billion, dropped by 33.5%.

In the wealth management division, despite lower revenues and profits the wrap account service contracts reached a record high on a quarterly basis. Net purchases, net inflow of investment trusts also remain high, with asset-based revenues steadily increasing to a record high.

In the asset management division, securities Asset Management achieved record high AUM and increase revenues and profits, while real estate asset management and

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