The Japanese investment bank and second largest securities brokerage in Japan has seen its revenues deteriorating due to a decrease in client activities.

Daiwa Securities Group has posted a JPY11.8 billion (US$81.7m) profit in Q1 FY22 ended in June 2022, down 49.6.5% year-on-year (YoY). Net operating revenues dropped 16.3% to JPY106.1 billion 'due to deterioration of the market environment', according to the firm's Q2 FY22 earnings report. The company’s retail division saw operating revenues and ordinary income falling due to a decrease in revenues from customer order flow but maintained ordinary income of JPY6.2 billion 'led by steady pr