Daiwa Securities Group Annual Report 2012 03 5 10 15 20 1990 1996 1989 1997 1999 2007 2008 2011 2012 2011 2004 2001 Collapse of  Japan Economic  Bubble Asian Financial  Crisis  Financial  Instruments and  Exchange Act  implemented Financial  “Big Bang” Collapse of  IT Bubble The Lehman  Shock The East Japan  Earthquake Joint Ventur and Company Separation “New” Daiwa  Securities Co. Ltd. Daiwa Institute of Resear ch founded Daiwa Securities Gr oup became first listed company in  Japan to adopt holding  company structur e Daiwa Next Bank founded T ransition to Committee System corporate structur e Daiwa Securities and  Daiwa Securities Capital  Markets mer ged to form  “new” Daiwa Securities Counter at a branch in  early 2000s Curr ent headquarters, GranT okyo North T ower (2007-pr esent) Era Backed by a 110-Year History * Figures prior to 1998 are for  Daiwa Securities Co. Ltd. alone.  Thereafter, figures are on a  consolidated basis. (¥ trillion) Trends in total assets of the Daiwa Securities Group* Daiwa Securities Co. Ltd. “New” Daiwa  Securities Co. Ltd. 2010~ Daiwa Securities Capital Markets Co. Ltd.  (joint venture with Sumitomo Mitsui Financial Group dissolved) 2001~ Daiwa Securities SMBC Co. Ltd.  (name changed with creation of Sumitomo  Mitsui Financial Group) Daiwa Securities SB Capital  Markets Co. Ltd.  (joint venture with Sumitomo Bank)  Daiwa Securities Group Inc. 1999~ 2012~