The main retail arm of Daiwa Securities Group has seen its asset under custody steadily grow during the past nine months, reaching a record high of JPY70.7 trillion (US$680 billion) as of the end of December 2020 – 66.6% of which is in equity and 15.3% in Japanese bonds.

Net profit at Daiwa Securities Co increased by 1.5x to JPY17.3 billion in the Q3 20 ended in December 2020 QoQ, or by 1.6x YoY as net operating revenues grew by 21.2% to JPY84.5 billion QoQ, or by 20.1% YoY.  The net profit represents 69.5% of that of the Group where fixed income revenues climbed by 40% to JPY7.7 billion QoQ as ‘structured bonds sales rose’.  In the meantime, the brokerage’s financial expenses climbed by 31.4% to JPY3.7 billion QoQ, or a decrease of