JP-listed companies
Daiwa Securities Group Inc.

Daiwa Securities Group Inc.JP:8601

Market cap

¥1.61T

P/E ratio

38.2x

Income statement Balance sheet Cash flow

	Mar 31, 2012	Mar 31, 2013	Mar 31, 2014	Mar 31, 2015	Mar 31, 2016	Mar 31, 2017	Mar 31, 2018	Mar 31, 2019	Mar 31, 2020	Mar 31, 2021	Mar 31, 2022	Mar 31, 2023	Mar 31, 2024
Cash and deposits	-	1,212,243	1,886,958	2,985,779	3,334,784	3,828,674	3,694,283	4,153,271	3,964,512	4,763,197	4,592,384	3,866,819	4,398,616
Short-term loans receivable	-	10,524	1,240	538	288	606	388	350	3,087	595	439	810	791
Segregated deposits	-	260,197	294,069	349,094	323,761	336,338	348,912	324,559	415,953	485,876	559,729	541,629	544,815
Accounts receivable - other	-	-	-	-	-	-	-	-	-	-	-	8,463	24,508
Notes and accounts receivable - trade, and contract assets	-	-	-	-	-	-	-	-	-	-	22,420	22,062	29,627
Accrued revenue	-	34,831	33,096	36,578	33,574	35,380	35,880	39,229	36,483	36,229	40,062	63,805	88,460
Securities	-	2,113,038	2,583,315	2,629,847	2,091,090	1,742,127	987,210	812,341	873,064	996,683	1,177,898	1,131,682	1,410,877
Trading products	-	8,849,128	7,110,968	8,304,368	7,501,242	6,546,229	6,667,033	6,716,066	8,027,289	7,834,093	8,004,920	7,625,713	7,534,999
Trading securities and other	-	6,101,443	4,736,344	5,192,464	4,017,267	3,853,260	4,170,557	3,785,250	4,300,600	5,374,191	5,919,617	5,425,159	4,870,657
Derivatives	-	2,747,684	2,374,623	3,111,904	3,483,975	2,692,968	2,496,475	2,930,815	3,726,689	2,459,901	2,085,303	2,200,554	2,664,341
Other	-	246,143	287,954	447,985	517,421	440,034	390,020	488,391	711,935	788,790	967,025	965,074	1,018,117
Current assets	-	18,329,152	18,737,101	22,190,674	19,851,563	19,258,940	20,487,498	20,405,580	22,846,637	24,646,314	26,009,638	24,872,860	30,439,313
Operational investment securities	-	149,329	143,010	156,157	127,210	125,040	115,332	110,034	202,557	97,092	123,839	127,693	138,663
Allowance for investment loss	-	-	-	-	-	-	-	-	-1,160	-588	-151	-70	-4
Operating loans	-	171,843	237,416	287,010	432,785	655,709	1,442,939	1,564,856	1,768,471	1,996,121	1,933,758	2,015,034	2,722,321
Work in process	-	574	619	1,226	503	1,285	479	901	609	603	768	853	839
Margin transaction assets	-	193,642	264,725	240,971	203,376	202,530	262,963	175,034	114,384	162,078	177,401	160,255	158,635
Margin loans	-	182,882	245,827	221,524	183,654	174,524	231,486	157,309	105,203	152,077	170,555	153,574	149,301
Cash collateral provided for securities borrowed in margin transactions	-	10,760	18,897	19,447	19,722	28,006	31,476	17,724	9,180	10,001	6,845	6,680	9,333
Loans secured by securities	-	4,841,726	5,888,420	6,728,201	5,250,135	5,305,518	6,496,752	5,973,771	6,685,756	7,448,321	8,394,277	8,341,562	12,368,472
Cash collateral provided for securities borrowed	-	4,840,106	5,886,605	6,727,866	5,184,274	5,005,170	6,472,791	5,119,636	4,813,361	5,054,451	5,283,874	6,844,292	9,128,456
Securities purchased under resale agreements	-	1,620	1,814	334	65,861	300,347	23,961	854,135	1,872,394	2,393,870	3,110,403	1,497,270	3,240,015
Advances paid	-	26,934	15,289	29,640	20,670	26,345	17,549	28,503	25,682	20,131	22,454	18,756	33,633
Short-term loans receivable	-	10,524	1,240	538	288	606	388	350	3,087	595	439	810	791
Accrued revenue	-	34,831	33,096	36,578	33,574	35,380	35,880	39,229	36,483	36,229	40,062	63,805	88,460
Other	-	246,143	287,954	447,985	517,421	440,034	390,020	488,391	711,935	788,790	967,025	965,074	1,018,117
Allowance for doubtful accounts	-	-280	-205	-323	-722	-502	-244	-317	-415	-4,401	-7,589	-8,822	-9,554
Current assets	-	18,329,152	18,737,101	22,190,674	19,851,563	19,258,940	20,487,498	20,405,580	22,846,637	24,646,314	26,009,638	24,872,860	30,439,313
Property, plant and equipment	-	407,118	432,365	458,534	124,562	124,980	124,190	168,089	309,166	880,477	913,879	916,873	921,181
Buildings, net	-	103,038	105,772	114,234	49,362	46,294	43,871	44,864	115,882	210,109	233,825	241,775	238,526
Machinery, equipment and vehicles	-	-	-	-	-	-	-	-	-	-	-	3	2
Machinerys and equipments,net	-	-	-	-	-	-	-	-	8,004	9,251	9,379	9,103	6,096
Equipment	-	15,827	15,690	16,109	17,287	19,949	17,394	19,666	19,153	18,030	16,418	17,449	17,123
Land	-	288,252	310,901	328,190	57,911	58,736	57,049	69,521	127,751	598,541	650,741	643,695	643,845
Construction in progress	-	-	-	-	-	-	5,875	34,037	38,375	44,544	3,514	4,850	15,589
Intangible assets	-	84,439	78,021	77,082	84,879	90,596	105,776	115,937	124,115	128,786	121,482	125,571	127,602
Software	-	49,133	45,240	43,087	51,899	63,443	62,363	76,491	77,985	84,276	74,516	65,251	69,502
Goodwill	-	15,465	9,425	4,820	7,972	6,103	11,170	10,605	13,629	21,229	19,657	18,526	17,139
Other	-	13,624	17,433	23,251	21,785	17,830	29,023	25,622	29,283	17,493	21,521	36,154	35,322
Leasehold interests in land	-	6,215	5,921	5,922	3,222	3,219	3,218	3,217	3,217	5,787	5,787	5,638	5,638
Software	-	49,133	45,240	43,087	51,899	63,443	62,363	76,491	77,985	84,276	74,516	65,251	69,502
Other	-	13,624	17,433	23,251	21,785	17,830	29,023	25,622	29,283	17,493	21,521	36,154	35,322
Investments and other assets	-	228,389	233,375	275,294	359,812	352,779	426,598	437,100	542,179	443,751	486,088	497,943	539,201
Investment securities	-	192,906	200,456	241,642	324,456	318,751	367,196	374,484	491,660	402,590	443,446	455,317	492,226
Shares of subsidiaries and associates	-	-	-	-	-	-	-	-	-	-	-	628,667	602,549
Long-term loans receivable	-	5,101	4,983	4,971	4,954	4,939	4,932	5,505	5,915	6,313	6,451	6,498	7,216
Investments in other securities of subsidiaries and associates	-	-	-	-	-	-	-	-	-	-	-	175,592	166,641
Guarantee deposits	-	19,469	17,169	16,903	17,523	17,298	17,527	17,448	17,877	17,692	16,748	15,796	15,903
Long-term loans receivable	-	5,101	4,983	4,971	4,954	4,939	4,932	5,505	5,915	6,313	6,451	6,498	7,216
Deferred tax assets	-	-	-	-	-	-	-	6,915	17,125	11,397	11,992	7,840	6,825
Guarantee deposits	-	19,469	17,169	16,903	17,523	17,298	17,527	17,448	17,877	17,692	16,748	15,796	15,903
Other	-	9,117	11,478	11,256	7,942	7,655	31,450	33,408	10,042	10,415	12,491	17,771	19,813
Other	-	9,117	11,478	11,256	7,942	7,655	31,450	33,408	10,042	10,415	12,491	17,771	19,813
Allowance for doubtful accounts	-	-1,234	-1,035	-1,378	-743	-661	-671	-662	-440	-1,037	-1,422	-1,660	-2,783
Allowance for doubtful accounts	-	-1,234	-1,035	-1,378	-743	-661	-671	-662	-440	-1,037	-1,422	-1,660	-2,783
Allowance for investment loss	-	-35,495	-35,150	-36,633	-11,053	-11,052	-505	-155	-1,160	-3,620	-3,620	-3,620	-
Allowance for investment loss	-	-35,495	-35,150	-36,633	-11,053	-11,052	-505	-155	-1,160	-3,620	-3,620	-3,620	-
Non-current assets	-	719,947	743,762	810,911	569,255	568,356	656,565	721,126	975,462	1,453,016	1,521,450	1,540,388	1,587,986
Assets	-	19,049,099	19,480,863	23,001,585	20,420,818	19,827,296	21,141,743	21,126,706	23,822,099	26,099,330	27,531,089	26,413,248	32,027,299
Short-term borrowings	-	946,311	903,916	1,011,879	820,019	918,954	1,091,771	1,341,415	1,276,948	1,408,288	2,155,782	1,292,848	1,272,859
Notes and accounts payable - trade	-	3,508	5,581	5,468	6,413	8,166	7,065	7,116	8,938	5,382	6,361	8,120	8,507
Current portion of bonds payable	-	221,291	224,344	264,942	232,594	278,237	261,494	190,772	277,852	203,774	446,760	485,029	159,780
Trading products	-	4,965,693	5,296,428	6,014,287	5,300,861	4,658,595	5,030,817	4,747,777	5,362,261	4,367,822	4,945,900	5,442,548	5,863,821
Trading securities and other	-	2,624,241	3,426,718	3,374,209	2,315,450	2,261,720	2,830,472	2,040,196	1,805,910	2,032,969	2,948,427	3,451,608	3,368,679
Derivatives	-	2,341,451	1,869,710	2,640,078	2,985,410	2,396,874	2,200,345	2,707,580	3,556,351	2,334,853	1,997,473	1,990,940	2,495,141
Accrued expenses	-	-	-	-	-	-	-	-	-	-	-	3,722	4,236
Trade date accrual	-	-	74,472	288,309	427,257	216,836	407,184	255,804	544,689	1,320,279	548,406	1,155,831	1,457,301
Borrowings secured by securities	-	7,142,965	6,330,269	7,553,191	5,901,794	6,018,813	5,775,897	5,947,969	7,198,730	8,176,094	9,463,697	7,929,609	11,698,956
Cash collateral received for securities lent	-	6,899,162	6,299,764	7,550,001	5,893,795	5,909,682	5,645,028	4,934,115	4,839,095	4,699,647	4,761,437	6,508,873	8,270,945
Securities sold under repurchase agreements	-	243,803	30,505	3,189	7,999	109,130	130,868	1,013,853	2,359,635	3,476,447	4,702,259	1,420,735	3,428,011
Margin transaction liabilities	-	57,762	52,434	55,051	54,387	62,377	71,344	69,981	59,256	64,022	70,318	52,785	54,414
Margin borrowings	-	12,617	5,588	9,326	3,789	3,086	3,007	3,675	3,994	4,139	5,327	3,817	4,769
Cash received for securities sold in margin transactions	-	45,145	46,845	45,725	50,597	59,290	68,336	66,306	55,261	59,882	64,991	48,967	49,645
Income taxes payable	-	3,094	15,347	13,804	40,498	15,084	9,211	5,978	7,403	17,962	8,649	10,675	42,916
Borrowings secured by securities	-	7,142,965	6,330,269	7,553,191	5,901,794	6,018,813	5,775,897	5,947,969	7,198,730	8,176,094	9,463,697	7,929,609	11,698,956
Cash collateral received for securities lent	-	6,899,162	6,299,764	7,550,001	5,893,795	5,909,682	5,645,028	4,934,115	4,839,095	4,699,647	4,761,437	6,508,873	8,270,945
Securities sold under repurchase agreements	-	243,803	30,505	3,189	7,999	109,130	130,868	1,013,853	2,359,635	3,476,447	4,702,259	1,420,735	3,428,011
Provision for bonuses	-	30,855	34,922	35,438	30,058	30,872	34,862	28,436	26,747	36,316	37,586	33,287	43,054
Deposits for banking business	-	1,791,765	2,197,719	2,745,681	2,928,630	2,985,733	3,388,444	3,632,575	4,037,201	4,416,097	4,189,105	3,932,761	4,511,603
Other	-	121,448	157,908	198,359	218,411	137,494	175,115	104,852	172,101	151,966	152,851	114,430	159,110
Deposits received	-	168,453	181,509	249,183	214,498	256,873	256,858	276,700	353,943	419,994	456,384	430,664	562,416
Current liabilities	-	16,055,427	16,154,730	19,353,884	16,827,865	16,007,868	17,036,208	17,081,971	19,918,716	21,219,352	22,945,274	21,581,275	26,797,550
Guarantee deposits received	-	286,675	395,406	503,974	512,426	418,039	420,039	372,591	414,641	366,351	347,468	431,383	522,809
Short-term borrowings	-	946,311	903,916	1,011,879	820,019	918,954	1,091,771	1,341,415	1,276,948	1,408,288	2,155,782	1,292,848	1,272,859
Commercial papers	-	301,711	266,480	388,380	137,720	-	105,000	100,000	178,000	265,000	116,000	261,300	440,000
Current portion of bonds payable	-	221,291	224,344	264,942	232,594	278,237	261,494	190,772	277,852	203,774	446,760	485,029	159,780
Income taxes payable	-	3,094	15,347	13,804	40,498	15,084	9,211	5,978	7,403	17,962	8,649	10,675	42,916
Provision for bonuses	-	30,855	34,922	35,438	30,058	30,872	34,862	28,436	26,747	36,316	37,586	33,287	43,054
Other	-	121,448	157,908	198,359	218,411	137,494	175,115	104,852	172,101	151,966	152,851	114,430	159,110
Current liabilities	-	16,055,427	16,154,730	19,353,884	16,827,865	16,007,868	17,036,208	17,081,971	19,918,716	21,219,352	22,945,274	21,581,275	26,797,550
Bonds payable	-	1,198,172	1,249,007	1,179,092	1,204,711	1,219,344	1,315,349	1,361,918	1,379,226	1,557,333	1,563,631	1,304,543	1,276,312
Long-term borrowings	-	642,835	748,973	946,408	1,004,988	1,179,264	1,327,780	1,336,787	1,183,272	1,586,913	1,237,048	1,706,985	2,020,812
Deferred tax liabilities	-	-	-	-	-	-	-	6,071	4,369	43,176	42,241	42,280	45,616
Other	-	16,685	17,838	19,494	6,532	7,527	6,889	10,572	28,900	50,430	54,934	53,906	48,761
Retirement benefit liability	-	-	33,739	36,237	38,417	39,791	41,758	43,441	44,359	44,773	44,236	44,309	43,715
Non-current liabilities	-	1,908,548	2,069,198	2,209,094	2,275,976	2,472,065	2,731,069	2,784,365	2,641,697	3,284,436	2,942,208	3,152,195	3,435,452
Provision for loss on litigation	-	648	1,870	1,877	2,174	15,903	24,485	25,573	1,570	1,809	115	169	235
Other	-	16,685	17,838	19,494	6,532	7,527	6,889	10,572	28,900	50,430	54,934	53,906	48,761
Non-current liabilities	-	1,908,548	2,069,198	2,209,094	2,275,976	2,472,065	2,731,069	2,784,365	2,641,697	3,284,436	2,942,208	3,152,195	3,435,452
Liabilities	-	17,966,531	18,227,401	21,566,904	19,107,812	18,483,863	19,771,223	19,870,276	22,564,333	24,507,489	25,891,200	24,737,758	30,238,640
Reserve for financial instruments transaction liabilities	-	2,555	3,471	3,926	3,970	3,929	3,945	3,938	3,918	3,699	3,717	4,287	5,637
Reserves under special laws	-	2,555	3,471	3,926	3,970	3,929	3,945	3,938	3,918	3,699	3,717	4,287	5,637
Liabilities	-	17,966,531	18,227,401	21,566,904	19,107,812	18,483,863	19,771,223	19,870,276	22,564,333	24,507,489	25,891,200	24,737,758	30,238,640
Share capital	-	247,397	247,397	247,397	247,397	247,397	247,397	247,397	247,397	247,397	247,397	247,397	247,397
Legal capital surplus	-	-	-	-	-	-	-	-	-	-	-	226,751	226,751
Other capital surplus	-	-	-	-	-	-	-	-	-	-	-	-	2,187
Capital surplus	-	230,676	230,765	231,283	231,889	230,712	230,713	230,633	230,808	230,651	230,451	230,274	232,461
Capital surplus	-	230,676	230,765	231,283	231,889	230,712	230,713	230,633	230,808	230,651	230,451	230,274	232,461
Legal retained earnings	-	-	-	-	-	-	-	-	-	-	-	45,335	45,335
Other retained earnings	-	-	-	-	-	-	-	-	-	-	-	360,534	358,024
Reserve for tax purpose reduction entry	-	-	-	-	-	-	-	-	-	-	-	1,860	1,860
Retained earnings brought forward	-	-	-	-	-	-	-	-	-	-	-	358,674	356,163
Retained earnings	-	408,647	528,406	623,755	683,939	718,238	785,730	805,761	834,442	911,742	942,793	886,160	961,438
Retained earnings	-	408,647	528,406	623,755	683,939	718,238	785,730	805,761	834,442	911,742	942,793	886,160	961,438
Treasury shares	-	-19,212	-17,817	-15,771	-29,970	-12,719	-54,310	-87,320	-110,351	-107,646	-134,201	-71,522	-123,153
Deposits for subscriptions of treasury shares	-	-	1	3	2	7	3	5	13	9	26	-	83
Shareholders' equity	-	867,509	988,754	1,086,668	1,133,257	1,183,636	1,209,535	1,196,476	1,202,310	1,282,154	1,286,467	1,292,309	1,318,227
Valuation difference on available-for-sale securities	-	76,740	87,845	135,687	98,483	59,922	61,176	47,668	26,853	41,587	29,587	24,717	52,936
Deferred gains or losses on hedges	-	-16,765	-12,935	-26,815	-32,992	435	-129	-5,611	-13,592	-3,058	9,940	16,028	16,873
Valuation and translation adjustments	-	44,264	89,820	151,988	86,574	67,254	63,597	48,000	7,703	51,415	86,815	115,531	203,959
Foreign currency translation adjustment	-	-15,709	14,910	43,116	21,082	6,896	2,550	5,942	-5,556	12,886	47,288	74,785	134,149
Valuation and translation adjustments	-	44,264	89,820	151,988	86,574	67,254	63,597	48,000	7,703	51,415	86,815	115,531	203,959
Share acquisition rights	-	6,387	7,363	8,205	8,958	8,729	8,790	8,741	8,901	9,125	9,109	8,793	6,956
Non-controlling interests	-	-	-	187,818	84,214	83,813	88,596	3,211	38,849	249,145	257,497	258,855	259,515
Net assets	-	1,082,567	1,253,462	1,434,680	1,313,005	1,343,433	1,370,520	1,256,430	1,257,766	1,591,841	1,639,888	1,675,489	1,788,658
Net assets	-	1,082,567	1,253,462	1,434,680	1,313,005	1,343,433	1,370,520	1,256,430	1,257,766	1,591,841	1,639,888	1,675,489	1,788,658
Liabilities and net assets	-	19,049,099	19,480,863	23,001,585	20,420,818	19,827,296	21,141,743	21,126,706	23,822,099	26,099,330	27,531,089	26,413,248	32,027,299