Daiwa Securities Group Inc. envisions boosting its operating revenue from Asia to about ¥160 billion in fiscal 2011, more than triple what it was in fiscal 2009, President Shigeharu Suzuki said in a recent interview.
The group, which includes Daiwa Securities Co., will place greater emphasis on operations in Asian nations, which carry high potential for growth, in distributing the group’s personnel and financial resources to various global markets, Suzuki said.
“Asia, whose economy continues to expand, is the mother market for Daiwa,” he said, adding it hopes to become one of the biggest brokerage houses in Asia.
The holding company posted consolidated operating revenue of ¥458.1 billion in fiscal 2009, which ended last March 31. Of the total, Asia-related operations accounted for less than ¥50 billion.
Suzuki said Daiwa will aim to earn about 30 percent of its consolidated operating revenue in Asia in fiscal 2011.
Daiwa in July acquired the Asian operations of KBC Groep NV of Belgium. Commenting on the deal, Suzuki said, “We are enhancing the preparedness” for expanding Daiwa’s Asian business operations.
He said Daiwa intends to increase Japanese sales of shares and bonds issued by Asian companies, while enhancing its investment banking operations relating to mergers and acquisitions and underwriting shares to be floated by Asian companies expanding their capital bases.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.