Daiwa Securities Group×Japan Exchange Group

Different ways of making money, on the same scale.

Same yardstick

MetricDaiwa Securities GroupFY ending Mar 2026Japan Exchange GroupFY ending Mar 2026
Revenue¥1.47T¥198.7B
COGS ratio——
Operating margin14.1%58.5%
Net margin11.9%39.8%
FCF margin22.3%50.0%

Highlighted = best value for that metric

Money flows side by side

Chart height is proportional to revenue.

Daiwa Securities Group¥1.47T · keeps ¥14 per ¥100

※ Cost of revenue is not disclosed; expenses are combined

Japan Exchange Group¥198.7B · keeps ¥59 per ¥100

※ Cost of revenue is not disclosed; expenses are combined

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