Daiwa Securities Group Inc. (DSEEY) Q4 2025 Earnings Call

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WEBVTT 00:00:01.229 -- 00:00:04.414 This is Kotari Yoshida from Diva Securities Group, Inc. 00:00:04.414 -- 00:00:08.020 Thank you very much for taking the time to participate in our conference call today. 00:00:08.020 -- 00:00:10.020 I 00:00:10.724 -- 00:00:15.451 will now explain the financial results for the fourth quarter of FY 2025 announced today 00:00:15.451 -- 00:00:21.057 following the presentation materials available on our website. 00:00:24.666 -- 00:00:28.329 First, please turn to page four. 00:00:28.820 -- 00:00:33.225 I will begin with a summary of our consolidated financial results. 00:00:33.225 -- 00:00:37.550 Percentage changes are in comparison to the third quarter of FY2025. 00:00:37.550 -- 00:00:39.830 In Q4 FY2025, 00:00:42.675 -- 00:00:47.361 despite the continued highly volatile market environment, our profit base, primarily 00:00:47.361 -- 00:00:52.807 driven by asset-based revenues, functioned steadily, allowing us to maintain a high level 00:00:52.807 -- 00:00:57.999 of consolidated profit. Net operating revenues were 197.8 00:00:58.102 -- 00:01:03.190 billion yen, up 1.7%. Ordinary income was 67 billion yen, 00:01:03.190 -- 00:01:05.052 down 3.6%. 00:01:05.052 -- 00:01:09.439 And profit attributable to owners of parent was 49.8 00:01:09.439 -- 00:01:12.641 billion yen, up 7.3%. 00:01:13.705 -- 00:01:17.966 Looking at the results by division in the Wealth Management Division, As a result of 00:01:17.966 -- 00:01:22.932 our focus on total asset consulting, both the contract amount and net inflow for RAP 00:01:22.932 -- 00:01:28.219 account services reached record highs, and net asset inflows also expanded. 00:01:28.219 -- 00:01:33.385 In securities asset management and real estate asset management, assets under 00:01:33.385 -- 00:01:38.429 ma...