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Daiwa Securities Group's Businesses Integrated Report 2Year ended0 March1 31,6 2016 The Customer’s FIRST CHOICE Contents 2 To Our Stakeholders 11 Interview with Forward-Looking Statements 4 Daiwa Securities Group’s the Chief Health Officer This Integrated Report contains forward-looking statements about the Daiwa Securities Group. You Value Creation Process 12 Daiwa Securities Group’s Corporate Summary Corporate can identify these statements by the fact that they do Businesses 6 Message from the CEO not relate strictly to historic or current facts. These 7 Message from the Chairman 14 Domestic and statements discuss future expectations, identify Overseas Network strategies, contain projections of results of operations 8 Human Resources That Power or of financial condition, or state other “forward- Daiwa Securities Group 16 Consolidated Financial and Non-Financial Highlights looking” information. These statements are based on currently available information and represent the beliefs of the management of the Daiwa Securities Group. These statements are subject to numerous risks and uncertainties that could cause the Daiwa Securities Group’s actual results, performance, achievements or financial condition to differ materially from those described or implied in the forward-looking statements. The Daiwa Securities 18 Business Strategy Explanation 37 Strategies by Division Group undertakes no obligation to publicly update by the CEO 38 Retail Division any forward-looking statements after the date of 29 Message from the CFO 40 Wholesale Division issuance of this report. These potential risks and Business Strategy 42 Asset Management Division 31 Special Feature: Leveraging uncertainties include, but are not limited to: 44 Investment Division Top Quality to Lead the Shift competition within the financial services industries in 45 Other Japan and overseas, our ability to adjust our business from Savings to Investment —Daiwa Institute of focus and to maintain profitable strategic alliances, Research Group volatile and sudden movements in the international —Daiwa Next Bank securities markets, and foreign exchange and global 46 Myanmar’s First Stock economic situations affecting the Daiwa Securities Exchange Opens Group. “FY2015” refers to the fiscal year ended March 31, 2016, and other fiscal years are referred to in a corresponding manner. 48 Corporate Governance 65 Corporate Social External Evaluation 48 Corporate Governance System Responsibility (CSR) SRI Index Selection 52 Directors Daiwa Securities Group Inc. has been selected for Management Systems Management 65 CSR Initiatives inclusion in both the Dow Jones Sustainability Asia/ (Members of the Board) 66 Through Business Activities 54 Messages from Pacific Index and the FTSE4Good Index. 68 With Our Employees Outside Directors 56 Corporate Executive Officers 72 Environmental Initiatives 57 Compliance 73 With Society 58 Disclosure 59 IT Strategy and the Management of Systemic Risk 60 Risk Appetite Framework 61 Risk Management Participation in International Initiatives In January 2010, the Daiwa Securities Group became the first securities company in Japan to sign the United Nations Global Compact (UNGC). The 75 Financial Section Group is also a signatory to the Carbon Disclosure 178 Other Information Project (CDP) and the Principles for Responsible Investment (PRI). Disclosure Daiwa Securities Group Integrated Report 2016 Corporate Principles Corporate Principles of the Daiwa Securities Group Building trust Contributing to society The trust and approval of customers form the very The Daiwa Securities Group will seek to benefit the foundation of the Daiwa Securities Group. The Group economy and society through the development of will always place the needs of customers first, and healthy financial markets. In addition to scrupulously strive to develop the advanced, specialized skills to observing both regulations and internal policies, the offer them the most-attractive products and services Group will strive to maintain a high sense of morality and of any securities group. duty, endeavoring to continue contributing to the sustainable growth of the societies in which we operate. Placing importance on personnel Maintaining healthy earnings results The source of the Group’s competitiveness lies in the The Group will always seek to develop healthy capabilities of its employees. The Group will promote business operations and to increase corporate value the creativity of employees by offering them a for the benefit of shareholders. By providing challenging and self-directed working environment customers with attractive products and services, the that encourages their abilities and appropriately Daiwa Securities Group will seek to generate strong rewards their contributions. profits and healthy returns for shareholders. Editorial Policy Publication of Daiwa Securities Group Integrated Report 2016 Daiwa Securities Group has formulated and published the corporate principle which consists of four components: “building trust,”“ placing importance on personnel,”“ contributing to society,” and“ maintaining healthy earnings results.” This corporate principle is the bedrock from which we aim to increase corporate value over the longer term, by managing operations with an eye on creating value for our stakeholders, while fulfilling our responsibilities to society as a major player in capital markets. Daiwa Securities Group believes its social mission is to contribute to the development of society and the economy through participation in financial and capital markets, by bringing together the fund management needs of individuals, corporations and institutional investors and the operating fund procurement needs of companies, national and local governments, public institutions, and international institutions. To deepen understanding of the corporate activities of Daiwa Securities Group, we have published an annual report since 1999. From 2016, we are changing the name of this publication to Integrated Report in line with our aim of providing more non-financial content to complement the presentation of financial data and business strategy. We hope you find this information beneficial. Information about our Corporate Social Responsibility initiatives is available on the Group’s CSR website and in the annual CSR Report, which can be downloaded in PDF format from the CSR website. Takashi Hibino President and CEO Daiwa Securities Group Inc. CSR website: http://www.daiwa-grp.jp/english/csr/index.html CSR Report: http://www.daiwa-grp.jp/english/csr/report/archives/index.html Daiwa Securities Group Integrated Report 2016 1 To Our Stakeholders Shigeharu Suzuki Takashi Hibino 2 Daiwa Securities Group Integrated Report 2016 Daiwa Securities Group Integrated Report 2016 To Our Stakeholders Aiming for an Advanced Wealth Management Business Model Summary Corporate Having established the corporate principle which consists of the four pillars of “building trust,” “placing importance on personnel,” “contributing to society,” and “maintaining healthy earnings results,” Daiwa Securities Group follows through by incorporating each of these pillars into actual management initiatives in order to fulfil the expectations of its stakeholders. We have prepared and published the Integrated Report 2016 for the purpose of introducing the Group’s initiatives based on this corporate principle and discussing progress made on our Medium-Term Management Plan, entitled “Passion for the Best” 2017, which was launched in FY2015 as our seventh medium-term management plan. Business Strategy We started off FY2015, the first year of the Management Plan, amid a worsening external business environment. Regardless, we are steadfast in our view that the transition “from savings to investment” will afford considerable business opportunities over the longer term. Accordingly, we have not changed the basic policies of the management plan. People have life plans based on the stage of their life, without regard to market trends, and these life plans have varying needs for asset formation, wealth management, and inheritance. By offering our customers products and services that are appropriate for their needs, we seek to build Takashi Hibino trust in our aim of establishing an advanced wealth management business model. Daiwa Securities Group aims to secure a sound level of profits from the provision of high-value- Systems Management added services to its customers at fair prices, in order to consistently improve its earnings potential and steadily increase dividends for its shareholders. Management has raised its targeted dividend payout ratio from about 30% to 40% for FY2015 onward for the purpose of enhancing shareholder returns. As a result, the actual dividend payout ratio for FY2015 came to 42.5%. Daiwa Securities Group intends to increase corporate value while securing stable profits and establishing a more robust business structure that is responsive to constantly changing financial and capital markets. All of our executives and employees are working together to make Daiwa Securities Group the customer’s first choice securities group. As we work toward achieving our goals, we kindly request the continued support and understanding of all stakeholders. Disclosure Shigeharu Suzuki Takashi Hibino Chairman of the Board President and CEO Daiwa Securities Group Inc. Daiwa Securities Group Inc. Daiwa Securities Group Integrated Report 2016 3 Daiwa Securities Group’s Value Creation Process Financial Financing assets management needs needs Financial and Capital Markets Consulting Financing
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