Daiwa Securities Group Annual Report 2012 27 Makoto Shirakawa Deputy President Head of Asset Management Daiwa Securities Group Inc. 1.7 percentage points, to 17.9%. The two companies together  controlled a 16.0% share of all mutual funds sold through bank  sales channels in FY2011—an increase of 2.4 percentage points  over the previous year. Net operating revenues for the overall Asset  Management Division increased by 3.0% year on year, to ¥37.4  billion, and ordinary income declined by 8.4%, to ¥14.6 billion. investment advisory business, Daiwa SB Investments maintained  its first-place overall position in the investment advisory rankings  published by Rating & Investment Information, Inc. (R&I)’s “Pensions  & Investments” newsletter, for a third consecutive year. It also  received various awards from R&I’s Fund Awards 2012 and the  ninth-annual Mercer MPA Awards (Japan). These strong performances boosted the Daiwa Securities  Group’s overall share of the market for mutual funds by  Daiwa SB Investments Action Plan for FY2012 Daiwa Asset Management 4. Establish an efficient organization and enhance risk  management system 3. Enhance supports to distributors and provide information  meeting client needs 1. Sophisticate investment style and research analysis 2. Improve product development functions and offer new  attractive products Upgrade quality and efficiency of specialized operations, train and  efficiently utilize personnel and enhance product management Establish a stronger base to manage publicly offered investment trusts  by increasing support for sales agents; elevate and maintain the market  presence of the investment advisory business by developing products  and services that meet customer needs Develop and manage competitive funds that address investors’ needs Strengthen fund management base focusing in particular on growing  Asian asset markets, and enhance competitiveness of existing products Adopt more sophisticated management techniques, better research and  analysis in order to improve fund performance, and promote diversification  of investment objects and investment strategies Develop products with content and performance that meets client needs,  and develop in-house infrastructure to support new product development Bolster product proposal and customer support capabilities and  strengthen transmissions of information from the investor’s perspective Invest in a solid organizational base that can provide top-quality  services, while pursuing the most efficient cost structure by prioritizing  cost-cutting targets GLYPH<H18546> Improve fund management capabilities GLYPH<H18546> Enhance product development capabilities GLYPH<H18546> Improve marketing capabilities GLYPH<H18546> Strengthen the organizational base GLYPH<H18546> Expand range of fund management products GLYPH<H18546> Improve sales and marketing base GLYPH<H18546> Improve fund management capabilities GLYPH<H18546> Strengthen the organizational base