How did Daiwa Securities perform last quarter?

Daiwa Securities Group Inc. reported net income of ¥46.5 billion ($300 million) in the fiscal third quarter, exceeding analyst estimates.

What drove Daiwa Securities' profit increase?

The company's profit was driven by a booming Japanese stock market, which bolstered its equity trading and wealth management businesses.

What was Daiwa Securities' net income for the fiscal third quarter?

Daiwa Securities' net income for the fiscal third quarter ended December 31 was ¥46.5 billion ($300 million).

Home / Business and Economy / Daiwa Profit Soars on Stock Market Surge

Daiwa Profit Soars on Stock Market Surge

2 Feb

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Summary

Daiwa Securities' profit exceeded analyst expectations last quarter.
The company's equity trading and wealth management saw gains.
Net income reached ¥46.5 billion, aligning with prior year results.

Daiwa Profit Soars on Stock Market Surge

Daiwa Securities Group Inc. reported a strong performance in the fiscal third quarter, with net income totaling ¥46.5 billion ($300 million) for the period ending December 31. This figure largely matched the previous year's results but importantly exceeded the average estimate of ¥39.1 billion provided by five financial analysts.

The robust financial outcome was primarily attributed to a thriving Japanese stock market. This market boom significantly boosted Daiwa's core businesses, specifically its equity trading and wealth management operations. The brokerage, Japan's second-largest, leveraged the favorable market conditions to achieve its better-than-expected profitability.

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