Q1 2020 Daiwa Securities Group Inc Earnings Call Transcript
[Interpreted] This is Sato of Daiwa Securities Group. Thank you very much for joining our telephone conference today despite your busy schedules. I'd like to explain our fiscal '19 Q1 results, which we released today with using the material uploaded on our website.
First, please turn to Page 4 for consolidated summary. Each percentage of change is based on the comparison to Q4 of fiscal '18. Net operating revenues were JPY 107.1 billion, down 0.3%. Retail division revenues increased due to investment trust sales growth and the foreign stock transaction expansion, while wholesale division revenues dropped. Global Markets had FICC revenues growth, whereas equity to revenue sale. Global Investment Banking had increase of debt underwriting spread decrease of equity underwritings and M&A revenues.
Ordinary income was JPY 17.9 billion, up 1.5%. Revenue improvement of Retail division as well as profit generation of investment division positively contributed
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