Worth reading
50Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
114.3
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Results for this period
First quarter1 April 2026 to 30 June 2026ConsolidatedJapanese GAAPNet Sales434,364¥ millionYear on year +33.1%
Operating profit77,512¥ millionYear on year +114.3%
Ordinary income88,089¥ millionYear on year +101.5%
Net income attributable to owners of the parent56,414¥ millionYear on year +80.6%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit.
Net income per share¥40.68
Financial position at period-end
Total assets39,867,264¥ million
of which net assets 2,077,378 ¥ millionEquity ratio 4.5%vs. prior year-end -0.1pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Segment revenue
Wealth Management Division88,23042.9%+40.3%
Asset Management Division40,92819.9%+45.1%
Global Markets & Investment Banking Division76,51237.2%+53.6%
Segment profit
Wealth Management Division37,27441.3%+88.9%
Asset Management Division30,36233.6%+105.5%
Global Markets & Investment Banking Division22,71025.1%+354.0%
Outlook and shareholder returns
Full-year earnings forecast
Net SalesNot disclosed
Operating profitNot disclosed
Ordinary incomeNot disclosed
Net incomeNot disclosed
ReasonNot disclosed because forecasting performance in the securities-related business is difficult.
Annual Dividend Forecast¥64 → ¥44
Payout ratioAt least 50%
Shareholder Return PolicyA dividend payout ratio of at least 50% each half-year, reflecting consolidated results. From the fiscal year ended March 2025 through the fiscal year ending March 2027, the full-year dividend per share will have a floor of ¥44.
Factors Behind Changes in Business Performance
Product sales expanded due to more active market investment activities and deeper total-asset consulting. Revenue increased through higher equity trading volumes, large-scale underwriting mandates, increased equity revenue, higher bond interest income, increased customer flows, winning multiple lead-manager mandates, and executing numerous M&A transactions.
Disclosure regarding the going concern assumption
Not applicable (no matters to report in the notes on the going concern assumption)
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew Number of companies 0 / Company name Not disclosed / Excluded Number of companies 0 / Company name Not disclosed
Material subsequent eventsOn 3 August 2026, Daiwa Next Bank acquired all shares of ORIX Bank, making it a wholly owned subsidiary. The consideration and acquisition cost were ¥370 billion, subject to final determination following price adjustments and other factors. The percentage of voting rights acquired was 100%.
Impairment loss¥751 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets 0 / Gain on sale of investment securities 1,364 / Gain on sale of shares in an affiliated company 17 / Gain on reversal of subscription rights to shares 121 / Total 1,503 / Extraordinary loss Loss on disposal and sale of non-current assets 3 / Impairment loss 751 / Loss on sale of investment securities 0 / Impairment loss on investment securities 136 / Loss on changes in equity interests 73 / Provision for the Financial Instruments Transaction Liability Reserve 234 / Compensation loss 75 / Total 1,275
Depreciation and amortization¥12,293 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for analysts)
Issued Shares at Period-End1,569,378,772
Treasury Shares at Period-End181,602,635
| Item | Details |
|---|---|
| Fiscal Period Classification | First quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026 to 30 June 2026 |
| Net Sales | ¥434,364 million (YoY +33.1%) |
| Operating profit | ¥77,512 million (YoY +114.3%) |
| Ordinary income | ¥88,089 million (YoY +101.5%) |
| Profit attributable to owners of the parent | ¥56,414 million (YoY +80.6%) |
| Net income per share | ¥40.68 |
| Equity ratio | End of the current fiscal period 4.5 / End of previous period 4.6 |
| Total assets | ¥39,867,264 million |
| Net assets | ¥2,077,378 million |
| Full-year earnings forecast | Net Sales Not disclosed / Operating profit Not disclosed / Ordinary income Not disclosed / Net income Not disclosed / Reason Not disclosed because forecasting performance in the securities-related business is difficult. |
| Annual Dividend Forecast | ¥64 → ¥44 |
| Payout ratio | At least 50% |
| Shareholder Return Policy | A dividend payout ratio of at least 50% each half-year, reflecting consolidated results. From the fiscal year ended March 2025 through the fiscal year ending March 2027, the full-year dividend per share will have a floor of ¥44. |
| Segment revenue | Wealth Management Division ¥88,230 million (YoY +40.3%) / Asset Management Division ¥40,928 million (YoY +45.1%) / Global Markets & Investment Banking Division ¥76,512 million (YoY +53.6%) |
| Segment profit | Wealth Management Division ¥37,274 million (YoY +88.9%) / Asset Management Division ¥30,362 million (YoY +105.5%) / Global Markets & Investment Banking Division ¥22,710 million (YoY +354.0%) |
| Depreciation and amortization | ¥12,293 million |
| Impairment loss | ¥751 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets 0 / Gain on sale of investment securities 1,364 / Gain on sale of shares in an affiliated company 17 / Gain on reversal of subscription rights to shares 121 / Total 1,503 / Extraordinary loss Loss on disposal and sale of non-current assets 3 / Impairment loss 751 / Loss on sale of investment securities 0 / Impairment loss on investment securities 136 / Loss on changes in equity interests 73 / Provision for the Financial Instruments Transaction Liability Reserve 234 / Compensation loss 75 / Total 1,275 |
| Disclosure regarding the going concern assumption | Not applicable (no matters to report in the notes on the going concern assumption) |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New Number of companies 0 / Company name Not disclosed / Excluded Number of companies 0 / Company name Not disclosed |
| Material subsequent events | On 3 August 2026, Daiwa Next Bank acquired all shares of ORIX Bank, making it a wholly owned subsidiary. The consideration and acquisition cost were ¥370 billion, subject to final determination following price adjustments and other factors. The percentage of voting rights acquired was 100%. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for analysts) |
| Issued Shares at Period-End | 1,569,378,772 |
| Treasury Shares at Period-End | 181,602,635 |
| Factors Behind Changes in Business Performance | Product sales expanded due to more active market investment activities and deeper total-asset consulting. Revenue increased through higher equity trading volumes, large-scale underwriting mandates, increased equity revenue, higher bond interest income, increased customer flows, winning multiple lead-manager mandates, and executing numerous M&A transactions. |
Items this document does not state (8)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodRevision to Earnings ForecastRegional salesOrders received and order backlog
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Revenue increased due to expanded product sales driven by more active market investment activities and deeper total-asset consulting, increased equity trading and customer flows, winning large-scale underwriting mandates and multiple lead-manager mandates, and executing M&A transactions.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.