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Daiwa
(8601)
Daiwa (8601) vs. iShares MSCI Japan ETF (EWJ)
Daiwa Business Overview & Revenue Model
Daiwa Earnings Call Summary
Daiwa Financial Statement Overview
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 689.97B | 1.39T | 1.30T | 876.88B | 632.52B | 582.16B |
| Gross Profit | 699.68B | 780.06B | 773.02B | 606.48B | 585.97B | 527.05B |
| EBITDA | 159.50B | 264.85B | 227.15B | 142.54B | 187.82B | 186.90B |
| Net Income | 107.82B | 154.37B | 121.56B | 63.88B | 94.89B | 108.40B |
Balance Sheet | ||||||
| Total Assets | 34.62T | 36.02T | 32.03T | 26.41T | 27.53T | 26.10T |
| Cash, Cash Equivalents and Short-Term Investments | 19.29T | 20.72T | 4.96T | 3.87T | 4.59T | 4.76T |
| Total Debt | 3.17T | 5.39T | 5.17T | 5.05T | 5.52T | 5.04T |
| Total Liabilities | 32.72T | 34.10T | 30.24T | 24.74T | 25.89T | 24.51T |
| Stockholders Equity | 1.62T | 1.65T | 1.53T | 1.42T | 1.38T | 1.34T |
Cash Flow | ||||||
| Free Cash Flow | -622.91B | -622.91B | 640.63B | -264.99B | -439.05B | 332.38B |
| Operating Cash Flow | -576.09B | -576.09B | 705.12B | -183.75B | -353.47B | 390.98B |
| Investing Cash Flow | -353.44B | -353.44B | -223.99B | 7.46B | -218.53B | -91.64B |
| Financing Cash Flow | 199.02B | 199.02B | -2.85B | -565.88B | 377.09B | 438.07B |
Daiwa Technical Analysis
Daiwa Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | ¥92.66B | 10.06 | ― | 5.75% | 10.85% | 30.77% | |
80 Outperform | ¥220.33B | 14.35 | ― | 4.01% | -2.39% | -4.54% | |
76 Outperform | ¥2.23T | 14.80 | 9.37% | 4.13% | -0.87% | 6.88% | |
69 Neutral | ¥245.75B | 18.80 | 14.00% | 5.13% | 3.27% | -1.81% | |
69 Neutral | ¥4.29T | 12.30 | 10.65% | 3.93% | -2.45% | 35.60% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
43 Neutral | ¥188.60B | 21.40 | -3.97% | 4.16% | 14.69% | -114.36% |
Daiwa Corporate Events
Daiwa Securities Group Inc., a leading Japanese securities and financial services group, operates through businesses spanning wealth management, asset management, brokerage, investment banking and research, serving a broad base of retail and institutional clients. Its structure is built around Daiwa Securities Co. Ltd. and related subsidiaries, with executives overseeing key areas such as corporate planning, compliance, risk management, sustainability and financial education.
The group announced a sweeping leadership reshuffle effective April and June 2026, including new board appointments for Junichi Serizawa and Kotaro Yoshida, and the addition of outside director Christina Ahmadjian, while several long-serving directors, including Shinsuke Niizuma and Keiko Tashiro, will retire. A series of promotions and changes in responsibility will see new deputy presidents, senior executive managing directors and executive managing directors installed across functions such as COO, CFO, compliance, corporate planning, risk management, wealth and asset management, signaling a bid to strengthen governance, succession and strategic focus across its core business lines.
The reorganization redistributes top roles within Daiwa Securities Co. Ltd. and Daiwa Asset Management, with Niizuma shifting to head asset management and chair Daiwa Asset Management, and executives like Eiji Sato, Hiroko Sakurai and others elevated to oversee operations, compliance and communications. By tightening alignment between group management and operating companies and concentrating oversight in areas like sustainability, digital strategy and risk, the moves are likely aimed at enhancing operational resilience and sharpening Daiwa’s competitive positioning in Japan’s evolving securities and asset management markets.
The most recent analyst rating on (JP:8601) stock is a Buy with a Yen1795.00 price target. To see the full list of analyst forecasts on Daiwa stock, see the JP:8601 Stock Forecast page.
Daiwa Securities Group Inc. has announced changes to its top management, reshuffling its representative corporate executive officers following a resolution by the board of directors on February 26, 2026. The move reflects adjustments within the company’s executive ranks as part of an internal reorganization of leadership roles.
Effective March 31, 2026, Shinsuke Niizuma will step down from his role as representative corporate executive officer while retaining his position as director, member of the board and corporate executive officer, deputy president. From April 1, 2026, long‑time insider and current senior executive managing director and corporate executive officer Eiji Sato will be promoted to director, member of the board and representative corporate executive officer, deputy president.
Sato’s elevation caps a 35‑year career at Daiwa, during which he has held key roles in corporate planning and finance, including multiple stints as chief financial officer and responsibility for overseas operations. The appointment places a seasoned internal strategist with deep knowledge of the group’s planning, financial management and international businesses at the core of Daiwa’s leadership, signaling continuity in management and a potential focus on strengthening corporate planning and global expansion.
The most recent analyst rating on (JP:8601) stock is a Buy with a Yen1795.00 price target. To see the full list of analyst forecasts on Daiwa stock, see the JP:8601 Stock Forecast page.
Daiwa Securities Group has revised its shareholder benefit program in response to rising inflation and higher procurement and distribution costs, aiming to keep the scheme both substantial and sustainable. The company is introducing a new 2,000–2,999 share bracket and adjusting benefit formats and values, including a shift to QUO Cards for smaller holders and higher-value catalog gifts for mid-tier investors.
Under the new structure, shareholders with 1,000–1,999 shares will receive a ¥2,000 QUO Card instead of catalog items, while those with 2,000–2,999 shares will see their benefits raised to ¥3,000 in catalog gifts. Holders of 3,000–4,999 shares will get a combination of a ¥1,000 QUO Card and a ¥3,000 catalog gift, with benefits for owners of 5,000 shares or more largely maintained, and the revised program will take effect for shareholders of record as of September 30, 2026, potentially reinforcing investor loyalty without excessively increasing cost burdens.
The most recent analyst rating on (JP:8601) stock is a Buy with a Yen1800.00 price target. To see the full list of analyst forecasts on Daiwa stock, see the JP:8601 Stock Forecast page.
Daiwa Securities Group has completed the interim review by certified public accountants of its Japanese GAAP-based consolidated financial results for the nine months ended December 31, 2025, confirming that no revisions were required to the figures disclosed on February 2, 2026. The company reported year-on-year growth in operating revenue, net operating revenue, operating income, and profit attributable to owners of parent, alongside a modest rise in total assets and net assets, and reiterated its dividend policy of semiannual payouts with a minimum full-year dividend of ¥44 per share through the fiscal year ending March 31, 2027, while leaving full-year earnings and dividend amounts otherwise undetermined.
The most recent analyst rating on (JP:8601) stock is a Buy with a Yen1720.00 price target. To see the full list of analyst forecasts on Daiwa stock, see the JP:8601 Stock Forecast page.
Daiwa Securities Group Inc. released materials outlining its financial results for the third quarter of fiscal 2025, presenting a detailed breakdown of performance across key segments including wealth management, asset management, global markets, and investment banking. The disclosure highlights base income measures, the composition of asset-based revenues, and separate reporting on balance sheet, financial management, and overseas operations, underscoring the company’s focus on recurring fee income and segment diversification as it manages performance and positions itself within the competitive securities and investment banking market.
The most recent analyst rating on (JP:8601) stock is a Buy with a Yen1699.00 price target. To see the full list of analyst forecasts on Daiwa stock, see the JP:8601 Stock Forecast page.
Daiwa Securities Group reported solid consolidated results for the nine months ended December 31, 2025, with operating revenue rising 4.8% year on year to ¥1,075.6 billion and net operating revenue up 10.8% to ¥522.5 billion. Operating income jumped 29.8% to ¥147.8 billion, while profit attributable to owners of the parent edged up 0.8% to ¥125.4 billion, lifting earnings per share to ¥90.05. Total assets expanded to ¥38.6 trillion and stockholders’ equity increased, although the equity ratio dipped slightly to 4.4%, reflecting balance sheet growth. The company confirmed an interim dividend of ¥29 per share and reiterated its policy of paying out at least 50% of consolidated earnings with a minimum full-year dividend of ¥44 per share through the fiscal year ending March 2027, but refrained from issuing a full-year earnings forecast due to the high sensitivity of its securities business to market and economic conditions. Daiwa also reported no significant changes in its consolidation scope or accounting policies over the period, underlining operational continuity amid a volatile market environment.
The most recent analyst rating on (JP:8601) stock is a Buy with a Yen1699.00 price target. To see the full list of analyst forecasts on Daiwa stock, see the JP:8601 Stock Forecast page.
Daiwa Securities Group Inc. has reported its consolidated capital adequacy ratio and consolidated leverage ratio, disclosing the status of its management soundness as of September 30, 2025, in line with Article 57-17 of the Financial Instruments and Exchange Act. The filing outlines key regulatory metrics, the composition of capital, qualitative information on the scope of consolidation and reconciliation to the balance sheet, as well as quantitative details on equity investments in funds and significant investments in financial entities, underscoring the group’s regulatory compliance and transparency on capital strength and leverage for regulators and market participants.
The most recent analyst rating on (JP:8601) stock is a Buy with a Yen1684.00 price target. To see the full list of analyst forecasts on Daiwa stock, see the JP:8601 Stock Forecast page.
Daiwa Securities Group Inc. has disclosed its consolidated Liquidity Coverage Ratio and consolidated Net Stable Funding Ratio as of the second quarter of fiscal 2025, in line with requirements under Japan’s Financial Instruments and Exchange Act regarding the status of soundness in management. By reporting both qualitative and quantitative information on these key liquidity and funding indicators at the group level, the company aims to demonstrate the robustness of its liquidity risk management framework and reassure regulators, investors, and other stakeholders about the stability and resilience of its balance sheet and funding profile.
The most recent analyst rating on (JP:8601) stock is a Buy with a Yen1684.00 price target. To see the full list of analyst forecasts on Daiwa stock, see the JP:8601 Stock Forecast page.