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Daiwa Securities GroupDaiwa Securities Group Inc.8601東証プライム証券、商品先物取引業FY ending Mar 2026, consolidated, J-GAAP

Daiwa Securities Group FY ending Mar 2026 results

About 41% of Daiwa Securities Group's sales come from Wealth Management, with Global Markets Investment Banking and Asset management making up much of the rest.

Out of every ¥100 of sales, about ¥14 is left as operating profit.

Revenue changed +7.0% from the prior year, operating profit +24.3%.

Revenue and profit pattern

Revenue and profit upProfit grew faster

Revenue +7.0% · profit +24.3%, calculated from disclosed figures.

Operating leverage: 3.48× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue
+7.0%¥1.37T → ¥1.47T
Operating income
+24.3%¥166.7B → ¥207.3B
Net income attributable to owners
+13.5%¥154.4B → ¥175.3B
Operating cash flow
Back to profit-¥454.1B → ¥439B
Free cash flow
Back to profit-¥539.4B → ¥327.2B

Results at a glance

  • Revenue for the FY ending Mar 2026 was ¥1.47T, up +7.0% from ¥1.37T.
  • Operating income grew faster, rising +24.3% from ¥166.7B to ¥207.3B. Net income came in at ¥175.3B, up +13.5%.
  • Operating cash flow swung from -¥454.1B to a positive ¥439B.

What drove the change

  • More stock trading lifted brokerage commissions
  • Lower repo costs improved net interest income
  • Fewer equity deals cut underwriting fees, and weaker bond revenue pulled trading income slightly down

Things to watch

  • Fees and trading income swing sharply with moves in stocks, rates and currencies
  • Middle East tensions and US trade policy could hit results through market turmoil
  • The company flags cyberattacks and system outages that could halt key operations and damage trust

Annual Securities Report, 89th term (Apr 2025 – Mar 2026) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report, 89th term (Apr 2025 – Mar 2026) / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

※ Segment revenues include inter-segment sales and are scaled to consolidated revenue

※ Cost of revenue is not disclosed; expenses are combined

Where ¥100 of sales goes

For every ¥100 Daiwa Securities Group sells, how much goes where, and how much is kept.

FY ending Mar 2026
Operating costs
¥86
Operating profit
¥14
Net profit kept
¥12

Annual margin trends

Operating margin14.1%
FY ending Mar 2021: 16.1%16.1%FY ending Mar 2022: 18.7%18.7%FY ending Mar 2023: 7.7%7.7%FY ending Mar 2024: 12.0%12.0%FY ending Mar 2025: 12.2%12.2%FY ending Mar 2026: 14.1%14.1%FY21FY22FY23FY24FY25FY26
Net margin11.9%
FY ending Mar 2021: 18.8%18.8%FY ending Mar 2022: 15.3%15.3%FY ending Mar 2023: 7.4%7.4%FY ending Mar 2024: 9.5%9.5%FY ending Mar 2025: 11.3%11.3%FY ending Mar 2026: 11.9%11.9%FY21FY22FY23FY24FY25FY26

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第89期(2025/04/01－2026/03/31)

    ID S100YCMP2026-06-17Open

  • EDINET (FSA Japan)

    有価証券報告書－第88期(2024/04/01－2025/03/31)

    ID S100VYQN2025-06-18Open

  • EDINET (FSA Japan)

    有価証券報告書－第87期(2023/04/01－2024/03/31)

    ID S100TQDT2024-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第86期(2022/04/01－2023/03/31)

    ID S100R8NC2023-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第85期(令和3年4月1日－令和4年3月31日)

    ID S100OL762022-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第84期(令和2年4月1日－令和3年3月31日)

    ID S100LLQZ2021-06-24Open

Extracted from XBRL: 53 / Derived from other figures: 2

Spotted an error? Report it (corrections keep the original record)

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