Daiwa Securities Group Inc Management Strategy Briefing Transcript
[Interpreted]
Thank you very much for attending this meeting. This is Seiji Nakata, President and CEO of Daiwa Securities Group. Today's management strategy update will focus on the future vision of our group. Let me begin.
Please refer to Page 4 of the document. First, let us review the market environment. The global economy reached a major turning point during the last fiscal year. This was instigated by Russia's invasion of Ukraine, global inflation, a shift in the long-standing monetary policy, the rapid depreciation of the yen and financial instability originating in Europe and the U.S. in March. The securities and financial markets have been very volatile over the past year, in particular, a combination of factors caused market turbulence and a sense of uncertainty about the future emerged. As a result, investor sentiment deteriorated even more than index fluctuations.
Please turn to Page 5. In the face of such an adverse environment, the group's consolidated ordinary
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