Daiwa Securities Group Annual Report 2012 Financial Section 49 P50 Twelve-Quarter Financial Summary P52 Breakdown by Product and Business Sector P53 Management’s Discussion and Analysis P60 Consolidated Balance Sheets P62 Consolidated Statements of Operations P63 Consolidated Statements of Comprehensive Income P64 Consolidated Statements of Changes in Net Assets P65 Consolidated Statements of Cash Flows P67 Notes to Consolidated Financial Statements P93 Independent Auditors’ Report P94 Report Regarding Situation of Soundness in Management