Daiwa Securities Group Annual Report 2012 Corporate Summary Executive Messages Business Strategy Management Systems & CSR Financial Section Other Information Daiwa Securities Group Inc. (Consolidated) * Please refer to pages 50–52 for the “Twelve-Quarter Financial Summary” and “Breakdown by Product and Business Sector.” Financial Highlights Millions of yen (Except as otherwise specified) FY2007 FY2008 FY2009 FY2010 FY2011 Operating Performance Operating revenues . . . . . . . . . . . . . . . . . . . . . . ¥825,422 ¥413,936 ¥537,915 ¥403,042 ¥422,375 Commissions . . . . . . . . . . . . . . . . . . . . . . . . . 294,425 208,881 252,863 218,630 220,845 Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84,593 56,402 56,388 50,254 40,221 Fixed income . . . . . . . . . . . . . . . . . . . . . . . 2,133 991 698 827 1,088 Asset management . . . . . . . . . . . . . . . . . . 136,377 97,001 108,266 116,734 134,269 Investment banking . . . . . . . . . . . . . . . . . . 47,551 34,915 70,648 38,704 32,737 Others . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23,771 19,572 16,863 12,108 12,529 Net gain on trading . . . . . . . . . . . . . . . . . . . . 103,361 40,921 110,955 92,477 79,416 Net gain (loss) on private equity and  other investments . . . . . . . . . . . . . . . . . . . . . 19,160 (79,478) 75,584 (17,259) 1,956 Interest and dividend income . . . . . . . . . . . . . 358,423 192,664 54,729 71,916 79,762 Service fees and other revenues . . . . . . . . . . 50,053 50,948 43,783 37,278 40,396 Interest expense . . . . . . . . . . . . . . . . . . . . . . . . 339,784 176,034 47,659 58,062 59,691 Cost of service fees and other revenues . . . . . . 38,147 38,358 32,150 26,415 26,668 Net operating revenues . . . . . . . . . . . . . . . . . . . 447,491 199,544 458,105 318,565 336,016 Selling, general and administrative expenses . . . 363,859 343,270 362,844 363,920 359,729 Operating income (loss) . . . . . . . . . . . . . . . . . . . 83,632 (143,726) 95,261 (45,355) (23,713) Ordinary income (loss) . . . . . . . . . . . . . . . . . . . . 90,143 (141,150) 102,917 (32,602) (12,200) Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . 46,411 (85,039) 43,429 (37,332) (39,435) Comprehensive income . . . . . . . . . . . . . . . . . . . — — — (45,049) (52,580) Financial Conditions  (Fiscal year-end) Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥17,307,120 ¥14,182,579 ¥17,155,345 ¥16,842,412 ¥18,924,038 Trading assets . . . . . . . . . . . . . . . . . . . . . . . . 7,857,122 6,203,742 7,654,334 6,770,479 8,876,950 Private equity investments . . . . . . . . . . . . . . . 471,732 515,770 218,841 177,561 138,177 Investment securities . . . . . . . . . . . . . . . . . . . 215,611 167,884 191,905 188,857 159,096 Net assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,082,924 952,329 1,017,529 921,399 951,702 Per Share Data  (Yen) Net income (loss) * . . . . . . . . . . . . . . . . . . . . . . . ¥ 33.69 ¥ (63.16) ¥ 26.41 ¥ (21.90) ¥ (23.41) Net assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 607.64 534.99 530.27 496.76 463.04 Cash dividends applicable to the year . . . . . . . . 22.00 8.00 13.00 6.00 6.00 * Net income (loss) per share is calculated on the basis of the average number of shares outstanding during the fiscal year. Net Income (¥ billion) Ordinary Income (¥ billion) Net Operating Revenues (¥ billion) 07 08 09 10 11 (Fiscal year) 46 –85 43 –37 –39 –80 –60 –40 –20 0 20 40 60 07 08 09 10 11 (Fiscal year) 90 103 –33 –12 –141 -200 -150 -100 -50 0 50 100 150 0 100 200 300 400 500 07 08 09 10 11 (Fiscal year) 447 200 458 319 336 06