2003 20031113 N CEO 2003 20031113
600,000 300% 500,000 512,276 464,057 250% 400,000 300,000 200,000 100,000 0 284,932 270,810 224,121 180,710 177,795 25,849 29,200 150% 100% 170,054 50% 45,084 0% 1998 1999 2000 2001 2002 2003 200% -100,000-87,959-50% -200,000-100% / 2
Sustainable Growth 3
PBR 6 5 4 3 2 1 0 93/4 93/10 94/4 94/10 95/4 95/10 96/4 96/10 97/4 97/10 98/4 98/10 99/4 99/10 00/4 00/10 01/4 01/10 02/4 02/10 03/4 4
Best Brand Daiwa 2005 TOP LINE TOP LINE 5
No.1 No.1 25 SMBC 90 6 EB 126 033 120 03125 * 039 42%50% 05 6
1. 2. TOP LINE No.1 BOTTOM LINE No.1 8
TOP LINE 1 8,000 7,000 215,712 229,476 240,000 220,000 25 2.5% 6,000 201,640 200,000 20 2.0% 5,000 180,000 15 1.5% 4,000 3,000 2,000 4,117 5,134 6,431 6,834 160,000 140,000 10 5 1.0% 0.5% 1,000 2,563 120,000 0 01/1H 01/2H 02/1H 02/2H 03/1H 100,000 0 0.0% 89 91 93 95 97 99 01 02.2Q02.4Q 9
TOP LINE 1 2,000 1,200 IBT 1,600 1,400 My 1,800 1,000 800 600 400 200 0 02/1Q 02/2Q 02/3Q 02/4Q 03/1Q 03/2Q VWAP-G 10
11 TOP LINE 1 5 15 10 5 NY 9 63 10 1 NY TVwww.daiwa.co.jp/bb 11 3 TV SKY PerfecTV! 10 20 30 40 4 5 6 7 8 9 10 TV MMF TV MMF
TOP LINE 2 2 2 10 800,000 3,000 700,000 600,000 500,000 400,000 300,000 200,000 70 5050 100,000 0 2,500 2,000 1,500 1,000 500 02/10 11 12 03/1 2 3 4 5 6 7 8 9 0 9 27 5,400 12
13 TOP LINE 2 123 200311 SMBC IPO 0.8% 1.9% 23.0% 1.6% CB WR 72.7% 2003930 0 100 200 300 400 500 600 700 800 03/3 4 5 6 7 8 9
TOP LINE 3 4 DIR RM DIR 14
BOTTOM LINE 1 10 35,000 6 5 30,000 25,000 20,000 15,000 10,000 5,000 0 02/1H 02/2H 03/1H 5 15
16 BOTTOM LINE 2 20027 13 10 2 1 20032 65 1,000 15 8.5 1 40 42 UP 200310 14 4 3 3 4
BOTTOM LINE 2 TSR 17
1. 2. Relation Capability TOP LINE BOTTOM LINE Relation Capability Relation + Capability 18
*2003/7 *1999 3 SMBC *2002/10 SMBC *2000/2 *2002/11 *2003/7 1 SMBC 2 SMBC 19
99 2002 3 3 IPO 3 3 IPO M&A * 20
Capability 1 20027 2 4 DIR 10 330 NEC 1,550 NEC IPO 280 21
Capability 2 200310 22
SMBC 2000 20004 200012 200112 20036 20036 50 35 15 25 23
PE 100 100 50 SMFG 24
1 2 25
26 2003-224 J-REIT J-REIT FoF 3 1 2 3 4 5 48(H15.3 H15.4 H16.4 H15.3 3 H15.9 5 0 500 1,000 1,500 2,000 2002/3 2002/6 2002/9 2002/12 2003/3 2003/6 2003/9 1,757 371 476 817 1,438 144 932 1,720 1 15.5% 2 CDO
27!! 0 50,000 100,000 150,000 200,000 250,000 FY1998 FY1999 FY2000 FY2001 FY2002* CB CB 2001 CB *FY2002 SMBC SMBC
2003 2003 '03.1Q 2002 2Q(7-9) 1Q(4-6) 4Q(1-3) 3Q(10-12) 2Q(7-9) 1Q(4-6) 110,362 111,996-1.5% 91,628 100,114 95,198 100,717 49,441 31,547 56.7% 33,305 34,480 37,507 38,990 24,958 43,679-42.9% 25,790 25,099 18,686 24,355 136 288-52.9% -2,599-281 -744 1,001 27,763 28,516-2.6% 24,669 32,218 30,695 27,123 8,063 7,963 1.3% 10,462 8,597 9,054 9,246 19,591 21,985-10.9% 18,455 25,701 24,716 21,720 5,295 5,431-2.5% 7,046 6,290 6,162 6,756 85,475 84,579 1.1% 66,126 68,123 64,319 72,240 64,702 62,672 3.2% 60,494 61,238 62,465 62,502 20,772 21,906-5.2% 5,631 6,884 1,853 9,738 1,328 2,654-50.0% 1,370 1,186 2,746 2,854 699 878-20.4% 1,016 423 959 666 21,401 23,682-9.6% 5,985 7,647 3,640 11,926 8,263 11,028-25.1% -10,998-2,544 1,434 5,785 29
2003 2003 '03.1Q 2Q(7-9) 1Q(4-6) 2002 4Q(1-3) 3Q(10-12) 2Q(7-9) 1Q(4-6) 64,702 62,672 3.2% 60,494 61,238 62,465 62,502 9,925 9,174 8.2% 9,583 9,958 10,833 10,277 1,473 1,360 8.3% 1,463 1,448 1,791 1,770 33,352 34,099-2.2% 30,434 30,781 30,764 31,923 8,205 7,846 4.6% 7,861 8,384 9,004 8,097 3,933 3,529 11.4% 3,711 3,872 3,621 3,503 5,242 4,964 5.6% 5,513 5,219 5,190 5,143 2,018 1,172 72.2% 1,106 1,016 1,101 1,446 2,025 1,886 7.4% 2,283 2,006 1,949 2,110 30
31 20039 8,583,292 3,643,061 3,405,938 43,561 629,952 155,988 56,593 417,371 237,294 93,058 7,674,089 3,956,131 1,817,585 1,032,828 CP 291,950 25,893 811,025 CB 672,299 105,021 565,502 138,431 117,786 308,724 158,705 20033 34,059 11,234 29,047 10,481-2,281 +1,347-25,544 10,818-830 360 - CD/CP 391 648 5,011 753 2,372 +228 983 +264 240 34 1,149 1 930 234 223 120 231 41 9 30 10 231 475 20039 9 320
2003 2003'03.1Q 2002 2Q(7-9) 1Q(4-6) 4Q(1-3) 3Q(10-12) 2Q(7-9) 1Q(4-6) 41,743 43,066-3.1% 34,463 30,930 30,653 33,769 33,881 26,975 25.6% 21,597 23,027 22,717 25,861 17,337 9,330 85.8% 5,415 9,460 7,601 11,700 0 0 135.1% 0 0 0 0 10,322 11,777-12.4% 10,486 7,364 7,224 6,905 1,884 6,072-69.0% 5,349 2,507 2,751 1,804 5,331 5,179 2.9% 3,518 2,747 3,184 3,756 6,168 5,838 5.7% 5,667 6,149 7,808 7,181 2,495 2,216 12.6% 2,413 2,702 3,528 3,781 7,573 15,793-52.0% 12,518 7,539 7,430 7,500 258 206 25.4% 91 18 9 155 7,315 15,587-53.1% 12,427 7,521 7,421 7,345 287 297-3.2% 347 363 505 407 107 123-12.7% 134 114 131 125 41,636 42,943-3.0% 34,329 30,815 30,522 33,644 33,902 32,884 3.1% 31,139 31,271 31,515 31,883 7,697 10,098-23.8% 3,147-431 -999 1,815 4,058 5,838-30.5% 1,530-594 -783 894 410.9% 412.1% 379.5% 383.9% 361.0% 351.7% 32
2003 2003'03.1Q 2002 2Q(7-9) 1Q(4-6) 4Q(1-3) 3Q(10-12) 2Q(7-9) 1Q(4-6) 33,902 32,884 3.1% 31,139 31,271 31,515 31,883 5,825 4,968 17.3% 5,376 4,747 5,118 4,862 15,771 15,868-0.6% 13,634 13,877 13,845 14,735 5,132 4,847 5.9% 5,114 5,135 5,171 4,852 4,882 4,824 1.2% 4,611 5,082 5,074 4,916 1,567 1,542 1.6% 1,763 1,743 1,696 1,666 94 204-53.9% 68 101 86 202 628 628 0.0% 571 583 523 648 33
IT 20003 TOPIX 40% TOPIX 10 2,000 15,000 10,000 1,500 1,000 5,000 500 0 98/3 99/3 00/3 01/3 01/9 02/3 02/9 03/3 03/6 03/9 85 94 127 65 63 60 61 52 230 216 - - - - - 12 51 65 81 97 2,469 3,247 3,960 3,438 4,140 3,204 2,728 2,390 2,366 2,420 917 1,104 1,866 1,375 1,038 1,215 1,000 949 1,114 1,226 1,709 1,830 1,900 2,160 2,352 2,710 2,995 3,394 3,567 3,395 3,355 4,267 6,865 5,678 5,398 5,967 5,795 5,369 6,215 7,243 8,535 10,542 14,718 12,716 12,990 13,168 12,630 12,219 13,573 14,597 TO PIX 1,251.70 1,267.22 1,705.94 1,277.27 1,023.42 1,060.19 921.05 788.00 903.44 1,018.80 0 02/3 03/6 SMBC TOPIX 34
1,200,000 1,147,289 1,140,392 1,100,000 1,022,692 1,028,360 1,023,217 1,015,667 1,000,000 900,000 800,000 0 02/1Q 02/2Q 02/3Q 02/4Q 03/1Q 03/2Q 35
160,000 150,141 140,000 120,000 100,000 80,000 60,000 40,000 40,973 38,236 41,444 31,732 38,885 50,079 20,000 10,595 0 02/1Q 02/2Q 02/3Q 02/4Q 03/1Q 03/2Q 36
600,000 30% 500,000 25% 400,000 20% 300,000 15% 200,000 10% 100,000 5% 0 01/3Q 4Q 02/1Q 2Q 3Q 4Q 03/1Q 2Q 197,646 218,441 244,255 169,499 167,084 152,289 270,305 543,171 20.6% 20.2% 13.9% 13.1% 8.6% 27.7% 27.4% 27.5% 0% 37
1,200,000 70% 1,000,000 60% 800,000 50% 40% 600,000 30% 400,000 20% 200,000 10% 0 99/4Q 00/1Q 2Q 3Q 4Q 01/1Q 2Q 3Q 4Q 02/1Q 2Q 3Q 4Q 03/1Q 2Q 473,630 558,390 532,964 467,929 515,921 670,690 538,587 516,254 542,833 542,833 440,742 434,597 407,225 650,407 1,031,269 32.6% 40.1% 44.0% 46.2% 47.3% 49.7% 51.2% 52.0% 51.7% 50.8% 53.2% 47.3% 58.2% 56.4% 57.6% 0% 38
SMBC 2003 2003 '03.1Q 2002 2Q(7-9) 1Q(4-6) 4Q(1-3) 3Q(10-12) 2Q(7-9) 1Q(4-6) 38,438 39,027-1.5% 29,866 31,828 27,722 28,883 15,946 8,767 81.9% 14,994 12,121 13,996 10,960 3,040 2,345 29.6% 1,924 1,763 2,027 2,512 9 7 24.6% 21 14 32 30 7,187 996 621.4% 4,113 4,457 4,356 3,217 1,640 2,781-41.0% 2,470 1,878 1,878 2,196 189 92 105.6% 342 209 444 163 3,816 2,438 56.5% 5,954 3,729 5,134 2,831 13,706 22,148-38.1% 8,371 13,708 8,326 13,902 18,360 7,268 152.6% -10,729 2,472 1,366 5,243-4,654 14,879-19,100 11,235 6,959 8,659 8,785 8,111 8.3% 6,500 5,998 5,400 4,021 2,190 2,319-5.5% 2,057 1,921 1,711 1,734 36,247 36,707-1.3% 27,808 29,906 26,011 27,149 25,785 27,467-6.1% 25,849 23,291 23,936 22,324 10,590 9,850 7.5% 1,832 6,761 2,994 4,976 6,288 5,908 6.4% -1,391 3,489 1,490 2,768 424.3% 468.3% - 370.0% 392.1% 462.2% 468.3% SMBC 2003 2 11,444 2003 1 10,691 2002 4 3,210 3 8,298 2 4,316 1 6,671 39
SMBC 2003 2003 '03.1Q 2Q(7-9) 1Q(4-6) 2002 4Q(1-3) 3Q(10-12) 2Q(7-9) 1Q(4-6) 25,785 27,467-6.1% 25,849 23,291 23,936 22,324 10,188 12,164-16.2% 11,534 9,057 9,211 7,767 5,928 6,181-4.1% 5,385 5,276 5,392 5,527 2,631 2,456 7.2% 2,555 2,595 2,749 2,418 3,417 3,593-4.9% 3,159 3,569 3,799 3,604 2,630 2,261 16.3% 2,395 2,093 2,063 2,014 657 415 58.1% 469 362 383 522 331 393-15.6% 348 335 337 469 40
SMBC 2003 2003 1 NEC 1,554 768 NEC 287 48 27 20 19 2003 SMBC 1 45.1% 77.2% 2 25.0% 8.3% 3 16.2% 4.3% SMBC 4 5.6% 3.8% 5 2.3% 2.5% SMBC 41
42 SMBC 2003 2003 1,000 500 1,000 600 300 300 300 200 200 200 200 200 200 200 200 200 1,200 1,000 600 500 500 200 1 20.3% SMBC 2 19.4% 3 16.6% 4 13.5% 5 11.3% SMBC
SMBC M&A 2003 M&A M&A 20031 9 10 43
SMBC 2003 2003 11 1,000 265 105 158 ABS 1 30.9% 2 17.7% 3 14.0% SMBC 4 9.3% 5 7.0% Thomson DealWatch 44
SMBC 100 100 50 SMFG 2001 PE SMBCPI 30 WL Ross CDCF SMBCPI 45
10 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 99/3 00/3 00/9 01/3 01/9 02/3 02/9 03/3 03/6 03/9 2,890 3,069 3,249 3,312 2,992 2,962 2,565 2,505 2,470 2,687 MMF+F 5,934 8,163 7,520 7,358 8,279 4,567 3,969 3,453 3,199 2,917 3,764 4,109 3,660 2,955 3,471 2,145 1,873 1,644 1,653 1,784 1,411 2,305 2,052 1,700 1,352 1,557 1,401 1,228 1,349 1,438 26.0% 26.6% 24.9% 22.7% 23.5% 20.0% 19.3% 18.3% 17.4% 16.5% % 30% 25% 20% 15% 10% 5% 0% 2003 2 03/7 8 111 03/7 217 03/8 132 F2003-03/9 224 OP 03/9 130 03/9 216 46
IR TEL: 03-3243-3841 FAX: 03-3242-0955 E-mail: ir-section@dsgi.daiwa.co.jp URL: http://www.ir.daiwa.co.jp/