Income Statement

Revenue

+97%

+150%

10Y

Currency: JPY

	Jun-2004	Sep-2004	Dec-2004	Jun-2005	Sep-2005	Dec-2005	Jun-2006	Sep-2006	Dec-2006	Jun-2007	Sep-2007	Dec-2007	Jun-2008	Sep-2008	Dec-2008	Jun-2009	Sep-2009	Dec-2009	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Revenue
Interest Expense	0	0	0	0	0	0	0	0	0	0	0	0	36	0	0	48	0	0	33	58	80	102	83	82	74	65	571	984	1 275	1 610	1 430	1 321	1 361	1 368	1 377	1 402	1 445	1 460	1 486	1 139	756	392	22	21	27	42	45	48	45	31	29	28	27	27	27	26	145	269	388	508	515	636	969	1 294	1 627	1 838	1 856	1 881	1 892	1 909	1 929	1 957	1 985	2 020	2 087	2 252	2 469	2 701	0	0	0
Revenue	343 486 N/A	351 641 +2%	361 246 +3%	372 020 +3%	448 876 +21%	576 094 +28%	648 297 +13%	664 675 +3%	662 168 0%	708 510 +7%	708 471 0%	681 151 -4%	592 545 -13%	512 393 -14%	335 499 -35%	302 242 -10%	276 314 -9%	421 362 +52%	383 397 -9%	384 999 +0%	319 596 -17%	403 038 +26%	422 511 +5%	417 757 -1%	392 465 -6%	422 370 +8%	422 641 +0%	433 646 +3%	465 917 +7%	525 411 +13%	594 595 +13%	630 009 +6%	668 267 +6%	642 829 -4%	608 448 -5%	615 204 +1%	631 340 +3%	659 396 +4%	702 084 +6%	704 554 +0%	678 587 -4%	653 711 -4%	614 181 -6%	601 173 -2%	600 754 0%	616 497 +3%	624 290 +1%	655 784 +5%	693 462 +6%	712 599 +3%	728 120 +2%	724 080 -1%	721 955 0%	720 585 0%	726 751 +1%	713 846 -2%	695 769 -3%	672 284 -3%	619 555 -8%	588 457 -5%	569 419 -3%	576 170 +1%	597 396 +4%	623 526 +4%	638 490 +2%	619 469 -3%	616 270 -1%	654 124 +6%	720 563 +10%	866 088 +20%	985 707 +14%	1 096 982 +11%	1 199 324 +9%	1 277 479 +7%	1 346 579 +5%	1 397 082 +4%	1 398 448 +0%	1 372 013 -2%	1 363 055 -1%	1 384 074 +2%	1 421 188 +3%
Gross Profit
Cost of Revenue	(71 280)	(74 949)	(88 046)	(108 597)	(136 727)	(183 350)	(224 745)	(260 558)	(278 906)	(303 272)	(310 921)	(304 092)	(266 528)	(239 842)	(189 958)	(142 364)	(87 394)	(61 353)	(59 135)	(59 443)	(63 034)	(84 476)	(84 481)	(84 539)	(85 418)	(86 357)	(90 709)	(96 983)	(103 260)	(108 102)	(109 017)	(105 625)	(101 870)	(100 878)	(99 279)	(103 030)	(117 268)	(127 175)	(137 689)	(146 745)	(136 227)	(138 896)	(139 982)	(135 455)	(137 850)	(143 747)	(157 045)	(172 712)	(197 379)	(207 249)	(215 709)	(234 754)	(257 325)	(279 344)	(311 799)	(327 171)	(324 593)	(246 026)	(259 348)	(197 323)	(146 938)	(109 511)	(109 459)	(116 860)	(123 598)	(117 377)	(134 781)	(190 920)	(270 298)	(401 863)	(493 494)	(571 380)	(647 262)	(686 571)	(740 641)	(774 366)	(762 097)	(726 024)	(710 953)	(720 444)	(724 444)
Gross Profit	272 206 N/A	276 692 +2%	273 200 -1%	263 423 -4%	312 149 +18%	392 744 +26%	423 552 +8%	404 117 -5%	383 262 -5%	405 238 +6%	397 550 -2%	377 059 -5%	326 017 -14%	272 551 -16%	145 541 -47%	159 878 +10%	188 920 +18%	360 009 +91%	324 262 -10%	325 556 +0%	256 562 -21%	318 562 +24%	338 030 +6%	333 218 -1%	307 047 -8%	336 013 +9%	331 932 -1%	336 663 +1%	362 657 +8%	417 309 +15%	485 578 +16%	524 384 +8%	566 397 +8%	541 951 -4%	509 169 -6%	512 174 +1%	514 072 +0%	532 221 +4%	564 395 +6%	557 809 -1%	542 360 -3%	514 815 -5%	474 199 -8%	465 718 -2%	462 904 -1%	472 750 +2%	467 245 -1%	483 072 +3%	496 083 +3%	505 350 +2%	512 411 +1%	489 326 -5%	464 630 -5%	441 241 -5%	414 952 -6%	386 675 -7%	371 176 -4%	426 258 +15%	360 207 -15%	391 134 +9%	422 481 +8%	466 659 +10%	487 937 +5%	506 666 +4%	514 892 +2%	502 092 -2%	481 489 -4%	463 204 -4%	450 265 -3%	464 225 +3%	492 213 +6%	525 602 +7%	552 062 +5%	590 908 +7%	605 938 +3%	622 716 +3%	636 351 +2%	645 989 +2%	652 102 +1%	663 630 +2%	696 744 +5%
Operating Income
Operating Expenses	(196 737)	(199 675)	(201 961)	(203 519)	(215 986)	(236 372)	(245 437)	(247 907)	(249 487)	(264 164)	(273 245)	(277 566)	(272 392)	(270 025)	(261 344)	(259 449)	(255 726)	(271 894)	(273 202)	(275 471)	(266 931)	(359 351)	(364 370)	(369 122)	(363 094)	(355 160)	(343 894)	(332 156)	(326 160)	(328 932)	(339 143)	(344 151)	(353 932)	(352 793)	(347 992)	(349 881)	(351 154)	(357 958)	(366 511)	(370 042)	(369 107)	(364 518)	(354 971)	(349 465)	(350 509)	(353 688)	(354 780)	(359 932)	(364 281)	(370 292)	(376 624)	(378 021)	(377 412)	(373 915)	(357 363)	(338 116)	(319 819)	(371 970)	(301 721)	(319 415)	(337 803)	(373 800)	(379 842)	(387 613)	(391 731)	(386 558)	(388 956)	(389 357)	(390 948)	(397 952)	(404 054)	(411 606)	(421 525)	(437 203)	(447 851)	(460 782)	(475 442)	(479 247)	(484 298)	(487 658)	(496 043)
Selling, General & Administrative	(180 815)	(183 570)	(185 590)	(187 055)	(199 359)	(219 563)	(228 815)	(231 232)	(232 570)	(246 243)	(254 155)	(257 125)	(250 067)	(246 127)	(235 940)	(232 791)	(227 907)	(243 096)	(244 157)	(247 426)	(240 107)	(324 753)	(330 513)	(334 716)	(328 476)	(319 864)	(310 949)	(301 471)	(297 677)	(302 723)	(313 735)	(319 884)	(330 748)	(330 807)	(326 977)	(329 559)	(331 285)	(337 296)	(344 783)	(347 395)	(345 420)	(340 684)	(331 195)	(325 902)	(327 139)	(330 281)	(331 153)	(336 001)	(340 077)	(345 956)	(352 116)	(353 288)	(352 311)	(348 571)	(330 561)	(309 884)	(290 469)	(341 157)	(270 252)	(287 169)	(304 691)	(339 880)	(345 553)	(352 996)	(356 831)	(351 748)	(354 297)	(354 697)	(356 456)	(363 455)	(369 447)	(376 976)	(386 648)	(402 064)	(412 792)	(425 706)	(440 668)	(444 934)	(450 366)	(454 244)	(462 518)
Depreciation & Amortization	(15 922)	(16 105)	(16 371)	(16 464)	(16 627)	(16 809)	(16 622)	(16 675)	(16 917)	(17 921)	(19 090)	(20 441)	(22 325)	(23 898)	(25 404)	(26 658)	(27 819)	(28 798)	(29 045)	(28 045)	(26 824)	(34 598)	(33 857)	(34 406)	(34 618)	(35 296)	(32 945)	(30 685)	(28 483)	(26 208)	(25 407)	(24 264)	(23 183)	(21 986)	(21 015)	(20 323)	(19 868)	(20 660)	(21 724)	(22 646)	(23 685)	(23 833)	(23 777)	(23 561)	(23 370)	(23 406)	(23 626)	(23 930)	(24 202)	(24 336)	(24 509)	(24 734)	(25 104)	(25 343)	(26 801)	(28 231)	(29 346)	(30 813)	(31 469)	(32 246)	(33 114)	(33 920)	(34 287)	(34 619)	(34 900)	(34 811)	(34 663)	(34 661)	(34 492)	(34 497)	(34 608)	(34 630)	(34 878)	(35 141)	(35 059)	(35 077)	(34 778)	(34 313)	(33 932)	(33 414)	(33 526)
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(1)	(1)	(3)	(1)	0	0	1	0	0	(4)	(1)	(2)	(1)	1	(2)	0	(1)	(1)	(1)	0	0	1	1	3	(1)	(1)	(1)	(4)	0	0	0	2	0	(2)	2	0	1	4	0	0	0	1	0	1	2	0	1	4	0	0	0	1
Operating Income	75 469 N/A	77 017 +2%	71 239 -8%	59 904 -16%	96 163 +61%	156 372 +63%	178 115 +14%	156 210 -12%	133 775 -14%	141 074 +5%	124 305 -12%	99 493 -20%	53 625 -46%	2 526 -95%	(115 803) N/A	(99 571) +14%	(66 806) +33%	88 115 N/A	51 060 -42%	50 085 -2%	(10 369) N/A	(40 789) -293%	(26 340) +35%	(35 904) -36%	(56 047) -56%	(19 147) +66%	(11 962) +38%	4 507 N/A	36 497 +710%	88 377 +142%	146 435 +66%	180 233 +23%	212 465 +18%	189 158 -11%	161 177 -15%	162 293 +1%	162 918 +0%	174 263 +7%	197 884 +14%	187 767 -5%	173 253 -8%	150 297 -13%	119 228 -21%	116 253 -2%	112 395 -3%	119 062 +6%	112 465 -6%	123 140 +9%	131 802 +7%	135 058 +2%	135 787 +1%	111 305 -18%	87 218 -22%	67 326 -23%	57 589 -14%	48 559 -16%	51 357 +6%	54 288 +6%	58 486 +8%	71 719 +23%	84 678 +18%	92 859 +10%	108 095 +16%	119 053 +10%	123 161 +3%	115 534 -6%	92 533 -20%	73 847 -20%	59 317 -20%	66 273 +12%	88 159 +33%	113 996 +29%	130 537 +15%	153 705 +18%	158 087 +3%	161 934 +2%	160 909 -1%	166 742 +4%	167 804 +1%	175 972 +5%	200 701 +14%
Pre-Tax Income
Interest Income Expense	333	(738)	1 574	1 617	11 703	14 927	15 099	5 656	1 094	1 183	1 976	1 623	3 894	2 623	5 120	3 489	2 405	2 953	9 113	8 847	11 221	10 180	4 547	6 762	2 622	5 304	5 835	5 433	6 252	8 944	12 719	13 113	15 154	14 523	11 669	11 423	9 762	8 251	8 430	9 391	13 358	15 995	16 110	16 659	16 623	28 398	26 498	26 188	23 528	23 895	23 359	29 798	33 440	26 514	26 924	20 251	19 093	25 491	26 054	26 873	25 135	24 413	20 195	22 630	23 597	20 679	28 815	28 002	25 831	25 845	19 571	18 790	21 301	22 657	19 994	45 383	69 417	57 469	64 440	39 405	19 709
Non-Reccuring Items	(4 464)	(2 596)	471	1 250	1 320	(2 066)	(1 660)	(3 198)	(320)	(467)	(1 064)	(9)	(3 130)	(2 816)	(14 560)	(12 698)	(12 396)	(5 079)	(4 901)	(3 347)	(781)	(7 129)	(7 392)	(9 704)	(11 933)	1 090	3 015	4 791	5 506	(7 356)	(10 038)	(10 151)	(11 602)	(10 534)	(7 399)	(5 807)	(7 380)	(5 830)	(3 091)	(3 059)	2 148	364	(262)	(79)	(1 043)	(9 105)	(9 922)	(8 310)	(17 496)	(7 963)	(7 898)	(11 348)	(2 708)	(1 113)	(38)	4 315	4 357	(6 645)	(5 904)	(9 545)	(9 061)	25 323	26 958	27 614	27 480	(638)	(496)	(3 427)	(3 249)	(6 569)	(4 083)	(1 378)	(2 247)	(11 772)	(10 938)	(14 615)	(15 163)	(9 525)	(9 775)	(6 313)	(5 102)
Gain/Loss on Disposition of Assets	0	0	0	0	0	(123)	0	0	0	0	0	0	(162)	(2 973)	(2 981)	(3 052)	(526)	(584)	(364)	(617)	(626)	1 155	(2 029)	(8 302)	(8 362)	(7 308)	(7 296)	(529)	(454)	(1 109)	(1 467)	(1 507)	(1 528)	(596)	(221)	(137)	312	2 611	0	0	0	1 116	0	0	0	(651)	696	690	614	370	0	0	(170)	(91)	(167)	8 394	8 319	8 749	8 145	(707)	(816)	56	(1 376)	1 810	1 915	2 624	2 380	9 546	9 502	11 264	9 325	(898)	(920)	10 982	9 807	9 939	10 943	913	589	21 852	20 792
Total Other Income	2 239	3 559	2 469	3 368	3 711	4 675	4 252	7 109	7 515	8 800	5 635	4 694	2 659	1 917	(214)	(212)	339	2 170	2 980	2 922	2 212	2 058	1 374	2 099	2 574	3 188	4 616	4 032	4 264	2 819	1 213	1 725	1 674	3 028	4 668	3 925	3 581	2 621	4 891	4 858	4 460	2 140	2 469	2 694	3 907	1 300	3 224	3 434	2 700	2 504	2 102	2 299	2 494	2 447	3 614	3 199	2 987	2 945	2 387	2 352	2 280	1 916	1 690	1 521	2 186	3 467	3 438	3 006	2 574	(47)	458	1 265	1 247	4 425	4 223	4 924	4 365	3 427	2 742	1 423	1 086
Pre-Tax Income	73 577 N/A	77 242 +5%	75 753 -2%	66 139 -13%	112 897 +71%	173 785 +54%	195 806 +13%	165 777 -15%	142 064 -14%	150 590 +6%	130 852 -13%	105 801 -19%	56 886 -46%	1 277 -98%	(128 438) N/A	(112 044) +13%	(76 984) +31%	87 575 N/A	57 888 -34%	57 890 +0%	1 657 -97%	(34 525) N/A	(29 840) +14%	(45 049) -51%	(71 146) -58%	(16 873) +76%	(5 792) +66%	18 234 N/A	52 065 +186%	91 675 +76%	148 862 +62%	183 413 +23%	216 163 +18%	195 579 -10%	169 894 -13%	171 697 +1%	169 193 -1%	181 916 +8%	208 114 +14%	198 957 -4%	193 219 -3%	169 912 -12%	137 545 -19%	135 527 -1%	131 882 -3%	139 004 +5%	132 961 -4%	145 142 +9%	141 148 -3%	153 864 +9%	153 350 0%	132 054 -14%	120 274 -9%	95 083 -21%	87 922 -8%	84 718 -4%	86 113 +2%	84 828 -1%	89 168 +5%	90 692 +2%	102 216 +13%	144 567 +41%	155 562 +8%	172 628 +11%	178 339 +3%	141 666 -21%	126 670 -11%	110 974 -12%	93 975 -15%	96 766 +3%	113 430 +17%	131 775 +16%	149 918 +14%	179 997 +20%	181 173 +1%	207 565 +15%	230 471 +11%	219 026 -5%	225 800 +3%	232 339 +3%	237 186 +2%
Net Income
Tax Provision	(29 277)	(29 520)	(28 831)	(24 704)	(42 963)	(64 099)	(72 387)	(65 390)	(58 556)	(61 931)	(49 159)	(40 550)	(23 318)	(15 716)	9 978	12 094	9 440	(32 986)	(25 840)	(29 194)	(5 131)	(9 713)	(21 427)	(21 126)	(20 318)	(24 399)	(22 095)	(17 476)	(14 612)	(11 561)	(12 200)	(16 846)	(20 244)	(17 670)	(17 350)	(19 159)	(21 544)	(27 444)	(42 794)	(47 459)	(50 647)	(46 935)	(36 273)	(28 155)	(28 795)	(34 726)	(33 858)	(39 948)	(39 933)	(38 541)	(38 905)	(36 438)	(33 283)	(31 251)	(26 523)	(23 755)	(23 105)	(23 563)	(26 098)	(29 357)	(31 573)	(34 915)	(37 942)	(41 552)	(43 711)	(37 521)	(33 741)	(25 324)	(19 807)	(23 082)	(28 444)	(36 529)	(41 496)	(49 561)	(50 067)	(52 606)	(56 539)	(53 932)	(53 294)	(63 265)	(66 999)
Income from Continuing Operations	44 300	47 722	46 922	41 435	69 934	109 686	123 419	100 387	83 508	88 659	81 693	65 251	33 568	(14 439)	(118 460)	(99 950)	(67 544)	54 589	32 048	28 696	(3 474)	(44 238)	(51 267)	(66 175)	(91 464)	(41 272)	(27 887)	758	37 453	80 114	136 662	166 567	195 919	177 909	152 544	152 538	147 649	154 472	165 320	151 498	142 572	122 977	101 272	107 372	103 087	104 278	99 103	105 194	101 215	115 323	114 445	95 616	86 991	63 832	61 399	60 963	63 008	61 265	63 070	61 335	70 643	109 652	117 620	131 076	134 628	104 145	92 929	85 650	74 168	73 684	84 986	95 246	108 422	130 436	131 106	154 959	173 932	165 094	172 506	169 074	170 187
Income to Minority Interest	(12 645)	(14 454)	(13 291)	(10 454)	(14 651)	(25 060)	(27 311)	(21 447)	(16 621)	(17 559)	(12 865)	(5 908)	4 327	17 076	50 786	44 262	34 366	(8 359)	(4 878)	(7 709)	(729)	6 907	5 694	5 437	7 986	1 838	565	(1 336)	(2 398)	(7 203)	(9 133)	(10 893)	(10 902)	(8 451)	(6 003)	(4 446)	(4 464)	(5 981)	(6 373)	(5 289)	(8 514)	(6 128)	(4 688)	(4 691)	(66)	(210)	(211)	(4 840)	(4 856)	(4 742)	(4 726)	(50)	(7)	(18)	(52)	(52)	(505)	(918)	(1 237)	(1 566)	(1 598)	(1 255)	(3 214)	(5 280)	(7 118)	(9 253)	(9 721)	(9 507)	(9 428)	(9 808)	(9 275)	(9 320)	(9 334)	(8 878)	(9 268)	(9 121)	(9 923)	(10 725)	(10 892)	(13 525)	(14 805)
Net Income (Common)	31 652 N/A	33 265 +5%	33 631 +1%	30 971 -8%	55 286 +79%	84 626 +53%	96 115 +14%	78 933 -18%	66 881 -15%	71 098 +6%	68 826 -3%	59 339 -14%	37 889 -36%	2 630 -93%	(67 676) N/A	(55 691) +18%	(33 178) +40%	46 227 N/A	27 166 -41%	20 983 -23%	(4 201) N/A	(37 331) -789%	(45 574) -22%	(60 735) -33%	(83 485) -37%	(39 434) +53%	(27 322) +31%	(580) +98%	35 057 N/A	72 909 +108%	127 528 +75%	155 673 +22%	185 014 +19%	169 457 -8%	146 540 -14%	148 091 +1%	143 184 -3%	148 490 +4%	158 946 +7%	146 208 -8%	134 059 -8%	116 848 -13%	96 583 -17%	102 679 +6%	103 019 +0%	104 067 +1%	98 891 -5%	100 354 +1%	96 357 -4%	110 579 +15%	109 718 -1%	95 564 -13%	86 985 -9%	63 813 -27%	61 345 -4%	60 910 -1%	62 500 +3%	60 346 -3%	61 832 +2%	59 767 -3%	69 044 +16%	108 396 +57%	114 404 +6%	125 795 +10%	127 509 +1%	94 891 -26%	83 209 -12%	76 143 -8%	64 739 -15%	63 875 -1%	75 709 +19%	85 925 +13%	99 087 +15%	121 557 +23%	121 838 +0%	145 837 +20%	164 008 +12%	154 368 -6%	161 612 +5%	155 547 -4%	155 381 0%
EPS (Diluted)	22.64 N/A	23.31 +3%	24.45 +5%	22.18 -9%	38.74 +75%	60.57 +56%	68.99 +14%	54.73 -21%	47.97 -12%	50.82 +6%	49.05 -3%	43.21 -12%	28.1 -35%	1.93 -93%	-50.28 N/A	-41.31 +18%	-18.91 +54%	26.4 N/A	15.6 -41%	12.27 -21%	-2.48 N/A	-21.9 -783%	-27.12 -24%	-36.08 -33%	-49.51 -37%	-23.4 +53%	-16.1 +31%	-0.34 +98%	20.62 N/A	42.89 +108%	74.44 +74%	90.71 +22%	107.69 +19%	98.71 -8%	85.3 -14%	86.09 +1%	83.14 -3%	86.28 +4%	92.14 +7%	84.46 -8%	77.4 -8%	67.68 -13%	56.71 -16%	60.29 +6%	60.45 +0%	61.14 +1%	58.89 -4%	59.77 +1%	57.9 -3%	66.45 +15%	67.35 +1%	58.8 -13%	54.44 -7%	39.72 -27%	38.97 -2%	38.81 0%	40.81 +5%	38.92 -5%	40.5 +4%	39.07 -4%	45.14 +16%	70.9 +57%	74.69 +5%	82.08 +10%	85.28 +4%	62.72 -26%	55.79 -11%	51.25 -8%	44.29 -14%	43.31 -2%	51.8 +20%	58.8 +14%	68.65 +17%	83.86 +22%	85.1 +1%	101.61 +19%	114.42 +13%	107.64 -6%	113.51 +5%	110.11 -3%	110.9 +1%

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Daiwa Securities Group Inc
DUS:DSE

Income Statement

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Daiwa Securities Group Inc

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Daiwa Securities Group Inc

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Daiwa Securities Group Inc DUS:DSE

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Income Statement Daiwa Securities Group Inc

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Daiwa Securities Group Inc
DUS:DSE

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Daiwa Securities Group Inc

Income Statement
Daiwa Securities Group Inc