Our Approach to Being the Best Passion for the Best 2007 20073
2 3 8 11 CEO Trust in Our Strategy Trust in Our New Businesses 73 74 5 75 76 8 78 14 16 19 Trust in Our Financial Base Trust in Our People Trust in Our Board 81 80 82 2006 92 22 23 26 at a Glance 28 34 40 117 94 95 96 98 116 48 118 53 124 57 58 128 129 131 60 62 64 65 66 67 IT 68 CSR 71 72 20062006412007331
Approach Throu Trust in Trustworthy Growth I Passion for the Best2008 Strategy New Businesses Finan Ba Passion for the Best2008200620083 SEE PAGE 8 SEE PAGE 11 SEE P 1 3,500ROE15% II 1,536 MA III
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20062008Passion for the Best2008 2006 On Track to Being the Best CEO Annual Report 2007 1
US$ 1 2004 2005 2006 2006 519,337 845,660 917,308 $ 7,774 390,432 579,359 526,764 4,464 275,544 325,199 340,373 2,885 114,888 254,160 186,391 1,580 120,433 260,651 195,415 1,656 52,665 139,948 92,725 786 12,378,962 14,898,692 14,411,265 122,129 648,332 792,281 2 1,223,226 10,366 US$ 1 1 3 39.03 103.90 67.90 $ 0.58 3 486.70 598.27 665.98 5.64 13.00 34.00 28.00 0.24 4 8.4 19.4 10.8 5.2 5.3 6.5 5 12,243 12,561 13,264 1. US1US$=118 2. 3. 11 200420051 20061 4. 5. FA % 700 600 500 400 300 200 100 0 270 352 390 579 526 2002 2003 2004 2005 2006 20,000 15,000 10,000 5,000 0 14,898 14,411 12,378 10,765 9,502 2002 2003 2004 2005 2006 200 150 100 50 0 50 42 7.4 1.1 6 19.4 52 8.4 139 92 % 2002 2003 2004 2005 2006 40 30 20 10.8 10 0 10 2 Annual Report 2007
CEO 2006 2006 20069%5,267 25%1,95434%927 ROE 10.8%2005 200612841.2% 30% 2006Passion for the Best2008 2006 2005162006 142007372.51,536 200733,560 50 40 30 31.6 33.3 32.7 22 41.2 16 % 50 40 30 20 20 10 0 10 8 12 12 5 2003 2004 2005 2006 12004 2 11 10 0 Annual Report 2007 3
4 SMA* 30 * Separately Managed Account SMBC 3,000 2006 SMBC 2006 2006 1600300 SMBC 4 SMBC SMBC 4 Annual Report 2007
3005 MA20062,775 10415MA MA MA 2006 200731,5361% 0.650.1% 30.319.5% 5 2007 Passion for the Best20082007 20062007 SMA2006 % % 60 55 12 50 10 8 6 4 1998 1999 2000 2001 2002 2003 2004 2005 2006 Annual Report 2007 5
MA No.1SMBC 2007M&A 2006 221030011 14 2007 2006 SMBC 2006 EMP-Daiwa Capital Asia Limited 40 30 20 23.2 25.7 30.1 29.1 32.3 10 0 05/3 05/9 06/3 06/9 07/3 6 Annual Report 2007
TV 2007TOB 20077 CEO Annual Report 2007 7
Trust in Our Strategy Passion for the Best2008 20074 8 Annual Report 2007
Daiwa Securities Group 大和証券グループでは 2006 年度から2008 年度までを対象とするグループ中期経営計画 Passion for the Best 2008 を推進しています 当社グループの経営ビジョンとして お客様からの信頼と社員の情熱で築く 日本最高の証券グループ を掲げ 最終年度の 経営目標として 連結経常利益 3,500 億円以上 連結 ROE15% 以上の達成を目指して います Passion for the Best 2008 の概要 グループ中期経営計画では リテール ホール また 経営のバックボーンとなる グループ基 セール アセット マネジメントおよび投資ビジ 本戦略 を設定し 人事 財務 IT リスク管理 ネスの4つのコア事業に注力します 当社グルー 内部統制 IR 広報 CSRという6つの側面から活 プは それぞれの事業で独自のビジネスモデルを 動目標を掲げています 当社グループは グルー 構築し 業界最高の競争力を築き上げることで プ基本戦略 によって 今後の成長に資する人材 日本最高の証券グループ にふさわしい業績 資本 インフラなどの経営基盤を強化し さらに の達成を目指しています 各事業がそれぞれ経 CSRへのより積極的な取組みや徹底したコンプ 営目標と基本戦略を掲げ そのミッションを果 ライアンスによって すべてのステークホルダー たすことで グループ全体の計画を推進します から高い信頼を得られる企業を目指します そし また 最適な資本配分により グループ全体の て 社員一人ひとりが 日本最高の証券グループ 経営効率を高めると同時に グループ各社間の の一員として 自尊心にあふれ 高い志と情熱を シナジーも追求していきます 持って仕事にチャレンジしていきます 日本最高の証券グループ という目標は 事 業規模や収益面のみにとどまりません 顧客満 足度の向上も徹底的に追求し 各種のお客様満 足度調査やランキングにおいても最高の評価を 獲得します Passion for the Best 2008 の経営目標 連結経常利益 3,500 億円以上 連結 ROE 15% 以上 リテール ホールセール アセット マネジメント 経常利益 1,300 億円以上 連結経常利益 1,900 億円以上 経常利益 300 億円以上 * 1 大和証券顧客資産 45 兆円以上 リーグテーブル No.1 株式投資信託残高 14 兆円以上 * 2 投資顧問残高 5 兆円以上 4月に210億円以上より上方修正 *12 2007年 * 2007年4月に11兆円以上より上方修正 Annual Report 2007
IT IT IR CSR 2007 Passion for the Best2008 20072 3005 * 2007 4 * 1300 1. 2. MA 3. 4. 2006 10 Annual Report 2007
Trust in Our New Businesses Annual Report 2007 11
1986 1996 2004 SMA TVTV 4 20062006 8 50 20072 20068 20072 20067 200611 SMA EMP Global L.L.C. 12 Annual Report 2007
8 6.8 6 4 2.9 2.9 3.5 3.5 4.5 4.4 4.6 2 0 2003 2004 2005 World Federation of Exchanges 2006 20068 SMBC 12 1. POWLPublic Offering Without Listing* IPO MA * RM 10 2. ASEAN SMBC 20071EMP Global EMP-Daiwa Capital Asia Limited Annual Report 2007 13
Trust in Our Financial Base 14 Annual Report 2007
Passion for the Best2008 30% Passion for the Best2008 20073 *9,29520063 790 SMBC * 2006 2008 ROE ROE 9,072 10.8% 3,500 10,900 15% 11,894 13,80014,400 2,203 17.6% 1,300 2,500 26% 6,562 8.5% 1,900 6,5008,000 14%17% 448 21.9% 300 600 21% 2,682 3,3004,200 1 22008 32008ROE Annual Report 2007 15
Trust in Our People 16 Annual Report 2007
Daiwa Securities Group 大和証券グループでは 社員の高いモチベーションこそが企業価値を向上させる最大のファ クターであると考えています グループ中期経営計画 Passion for the Best 2008 においては 人事を最も重要な戦略のひとつとし 業界最高水準の人材が集い 高いモチ ベーションを持って仕事にチャレンジできる環境 体制を整備 することをテーマとして掲げて います この方針に則り 社員のモチベーションを高める施策を次々と実施しています モチベーションの源泉は会社への信頼感 多彩な金融サービスを提供する当社グループに とって 優秀な人材こそが収益拡大の源泉です 当社グループでは こうした健全な企業文化 の源泉となるものは 社員の会社に対する信頼 このため 社員のモチベーションを向上させる 感であると考えています 会社が社員から信頼 ことが企業価値を高めることに直結すると考 を得るためには 会社から社員へと発信される えています ただし それは報酬がすべてでは メッセージがわかりやすく矛盾がないこと ありません 社員一人ひとりが自らの職業に誇 そして社員が会社から大事にされていると常 りを持つこと また自分が所属する会社 部署 に感じられるよう 会社の側から積極的に働き の仲間との強い連帯感を持つこと そして会社に かけていくことが重要です つまり 社員に対 対するロイヤリティを持つことで 働きがい する 働きがい の提供こそが 経営の重要な役 のある いい会社 の企業文化が構築され コン 割なのです プライアンスに対する高い意識 質の高いモチ 人材の企業間移動が一般的に行われている ベーションが社員に醸成されるのです さらに 業界にあって 当社グループでは 大和で働く そうした社員の高いコンプライアンスに対する 喜び を感じられる社員の数が増えるほど 企業 意識やモチベーションは 確実に顧客満足につ 価値が向上するという信念を持っています ながっていくと考えています 当社グループの目指す企業文化 仕事への誇り 社員 会社への信頼感 社員の満足度向上 お客様 株主様の 満足度向上 会社や仲間との連帯感 Annual Report 2007
FA * 200741,400 * 2006 2007 117 60 2005 2006 2007 127 27 271 55 89 15 35 19 31 72 31 341 18 Annual Report 2007
Trust in Our Board Annual Report 2007 19
1969 1994 1997 1999 SBCM SMBC 2004 2005 1967 1991 1995 1997 1999 CEO 2004 CSR 1974 1998 1999 SBCM SMBC 2002 20 Annual Report 2007
1952 1975 1978 1980 1982 1991 1998 1999 2002 1976 1979 1996 2002 2003 2004 2006, NYJ.P. A.T. 1961 1998 2001 2004 1967 1979 1981 2000 2004 CPA UNO OFFICE Annual Report 2007 21
23 SEE PAGE at a Glance 26 SEE PAGE SEE PAGE 28 SEE PAGE 34 40 SEE PAGE SEE PAGE 48 SEE PAGE 53 22 Annual Report 2007
1996 2000 IT 199812 199910 200412 200510 20079 1,500 3,500 3,000 1 983 9812 9812 9910 2 04465 054 057 079 2,500 2,000 1,500 1,000 500 0 IT [ ] 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1998 1999 2000 2001 2002 2003 2004 [ ] 3 TOPIX 20011Q20004Q [ ] 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2005 2006 Annual Report 2007 23
MA MA 3,000 TOPIX 2,400 160 200 2007 3 50.1 19.5 2.8 4.5 12.2 26.2 4.2 % 1,536 1,800 1,200 600 0 2003 3 2007 3 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 0 TOPIX 120 80 40 57.2 2.6 2.1 5.3 27.8 5.0 10.0 % 12.9 7.1 14.7 30.4 31.4 3.4 1,355 42.5 80 60 40 20 0 38.1 16.6 38.3 14.4 25.9 15.3 18.1 16.2 15.7 23.2 13.5 44.9 28.9 13.5 59.4 00/3 01/3 02/3 03/3 04/3 05/3 06/3 07/3 MMF 13.1 60 40 20 0 5.5 10.5 9.3 13.5 13.9 14.6 21.9 22.6 03/3 04/3 05/3 06/3 30.5 28.4 07/3 24 Annual Report 2007
4 3.0 2.5 2.0 1.5 1.0 0.5 0 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 CBWB 20014Q 2006 4 3 2 1 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Annual Report 2007 25
at a Glance Retail 100% 120 90 60 30 0 24.2 6.9 101.0 25.9 74.4 17.6 2004 2005 2006 60 45 30 15 0 ROE Wholesale SMBC SMBC 150 120 90 60 30 0 85.1 12.4 141.5 18.2 92.8 8.5 2004 2005 2006 25 20 15 10 5 0 ROE Asset Management 15 13.0 12 9 6 3 0 1.4 4.4 2004 2005 2006 5 4.6 4.4 4 3 2.3 2 1 0 2004 2005 2006 26 Annual Report 2007
Investment SMBC SMBC SMBC100% 25 23.7 20 15 10 5 0 9.3 15.2 2004 2005 2006 SMBC SMBC * 2004 5 4 3 2 1 0 0.03 4.8 4.2 2004* 2005 2006 Group Support Annual Report 2007 27
Retail 2 1. 2. SMA SMBC 2006 2007 2 TOPIX 2004 2005 2006 164,419 257,988 229,171 24,216 101,057 74,477 13,863 58,174 43,468 ROE 6.9% 25.9% 17.6% 28 Annual Report 2007
SMA No.1 40 30 20 23.2 25.7 30.1 29.1 32.3 2008 1,300 45 20093 10 0 05/3 05/9 06/3 06/9 07/3 10 8 6 4 2 0 2.9 3.0 3.2 3.5 3.9 4.6 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2004 2005 2006 5.6 6.5 7.3 200631,728.16 1,713.61 20061 16%27,774 2006 7.9 8.8 9.5 4Q 20091 2006 20062,291 11%744 26%43425% ROE17.6%25.9% 2006 20073 2232 3 Annual Report 2007 29
% 1,000 80 750 500 250 0 186 153 1Q 199 173 441 241 2Q 3Q 2005 227 405 4Q 148 350 1Q 164 187 196 238 2Q 3Q 2006 237 320 4Q 60 40 20 0 * * %100 No.1 No.1 2007 1 2 3 4SMA 5 6 2006 * 2005 200612 20064 11 20073 33 * %100 30 Annual Report 2007
200 150 100 50 0 182.4 168.0 152.3 159.7 156.3 152.9 32.8 28.3 29.9 31.0 81.2 25.9 19.7 44.2 29.2 14.3 8.6 4.6 05/3 05/6 05/9 05/12 06/3 06/6 06/9 06/12 07/03 40 30 20 10 0 IP SMA SMBC No.1 2006 2006 5 Annual Report 2007 31
32 Annual Report 2007 Daiwa Securities Group SMA*SMA No.1 SMA20073 2,234SMA 5,000 SMA 4 No.1 2007 * SMA 07/03 06/12 06/9 06/6 06/3 05/12 05/9 05/6 05/3 223.4 9.3 29.5 57.1 111.5 159.1 178.7 189.4 200.4 0 50 100 150 200 250 2007 2007 No.1
20068 50 20072 15 20073 1,700300 LMS 200610 20072 20074* LMSLoan Management Service * 20074SATStock and Trust 20091* 1 20063470* 2 20073LMS 1,000 * 1 2009 1 * 2 LMS 40 30 2,000 1,500 20 10 0 1,000 500 06/8 06/9 06/10 06/11 06/12 07/1 07/2 07/3 0 LMS SAT SAT SAT SAT Annual Report 2007 33
Wholesale SMBC SMBC 1. 2. IPO M&A SMBC 60% 40% 2006 3005 * MA MA2000 2006 MA SMBC 2004 2005 2006 222,390 311,568 260,700 85,176 141,582 92,866 54,034 91,883 51,945 ROE 12.4% 18.2% 8.5% 34 Annual Report 2007
SMBC 2008 1,900* 1 No.1* 2 * 1 SMBC * 2MA SMBC 1 2 3 4 5 6 7 8 9 10 2002 2003 2004 2005 2006 MA SMBC MA MA 3,000 2,500 2,000 1,500 1,000 500 0 753 834 2.3 3.5 1997 1998 1,169 18.1 11.6 1999 43 20072 53.8 * 300 1,635 1,653 1,752 1,728 2000 8.6 2001 5.0 6.0 2002 2003 2,211 12.4 11.8 2004 2,725 2005 2,775 15.0 2006 30 25 20 15 10 5 0 2006 SMBC2006 2,60716% 92834% 51943%ROE 8.5%18.2% MA IPO2005 2006 1,0654% SPSStructured Principal Solution Program* 1,16634% * CBSMBC No.1 SMBC MA No.1 Annual Report 2007 35
SMBC2006 MA MA 2006 2006 2006 2006 1 SMBC 18.3% 38.5% 32.4% 5.2% 2 18.3% 16.8% UBS 21.8% UFJ 4.4% 3 UFJ 16.1% SMBC 14.3% 19.5% SMBC 4.4% 4 10.6% 7.5% 19.1% FG 4.2% 5 6.6% 6.0% 18.7% 2.4% SMBC7 14.6% SMBC MA 2006 ABS* 1 Asset-backed Securities 1,500 1,000 850 POIPO CBCBSPS REIT 20063 PO 2,063 969IPO 1,2401,204 IPO 1 MA MBO * 2 37 SMBC 2006 House of the Year * 1 * 2 200715 MA MAMBO 36 Annual Report 2007
2006 IPO 2,063969 CB 700 SUMCO666 1,2401,204984SRI219 7002,7001,500600 5005001,250 2,0001,0001,000 800800650 121,4601,460S8 2,500735 J-REIT IPO1,208854 MA UBS POWL 40434424878 Public Offering Without Listing SMBC 2007 1 2MA 3 4 5 SMBC2007 Annual Report 2007 37
SMBC 2006 3,000 SMBC 50% 16 3,000 CB 3,000 NS Preferred Capital Limited 3,000 3 MA MA No.1 MA MA MBO 2007 MA SMBC 100%Daiwa America CorporationDAC2007427 MA Sagent Advisors Inc.Sagent SMBC MA DAC100% M A Sagent MA SagentSagent 38 Annual Report 2007
100% 60% 40% 100% SMBC 44% 44% SMA 100% 46% SMBC SMBC 40% Annual Report 2007 39
Asset Management SMBC 401k 16 20073 SRI Socially Responsible Investment 2006 20072 20073 594 1,536 20063 3.6%200734.5% 2004 2005 2006 19,316 31,374 58,933 1,490 4,435 13,015 1,220 3,051 8,659 40 Annual Report 2007
* 2 2008* 300210 1411 5 8 6 4 2 0 0.8 4.2 4.0 0.2 2.5 0.2 1.5 2.2 0.3 2.8 0.4 3.1 2.1 1.6 1.2 02/3 03/3 04/3 05/3 06/3 07/3 1.3 6.3 4.3 80 60 40 20 0 25.9 18.1 15.3 16.2 15.7 23.2 13.5 28.9 13.5 44.9 13.1 59.4 02/3 03/3 04/3 05/3 06/3 07/3 2006 2006 589 88% 31301989 2007 396,66220063 75,74328% 20073 63,8832006 351% 2007316,569 200611 2007 31,94820064 1,663 Annual Report 2007 41
2006 1Q 20064 1,478 20065 543 2Q 20067 435 20068 465 3Q 200611 185 200611 7233 4Q M&A2007 20073 165 20093 85 2006 115 2007 3 1 2 3 2006 200643 1,478 20073 1,663 20065 5437 435 8 465 200611 1 3723 20073 1,948 42 Annual Report 2007
ETF % 8 6 4 2 0 13.9 11.8 10.2 10.1 7.6 8.5 5.6 6.8 6.5 3.4 2.3 1.7 1.4 1.0 1.3 1.6 00/3 01/3 02/3 03/3 04/3 05/3 06/3 07/3 16 12 8 4 0 2,000 1,600 1,200 800 400 0 14,000 13,000 12,000 11,000 10,000 03/12 04/3 04/6 04/9 04/12 05/3 05/6 05/9 05/12 06/3 06/6 06/9 06/12 07/3 9,000 ETF 10.0% 20073 10.1% 2007 REIT Annual Report 2007 43
2006725 2006111 200736,000 2007 30 50 2007 44 Annual Report 2007
T. 7 RI Top in Quality 2004 2005 2006 11,888 16,247 19,476 2,381 4,613 4,407 1,434 2,752 2,695 Annual Report 2007 45
2006 2006 20%194 4%442% 26 200736 1,0892006352,216 17% 20073 43,748200634701 7% 20073 17,34120063 11,51551% 200734,720 1,470 3 20073 1,555 20093 4.4 2.9 2007 3 1 2 3 2006 2Q 20069 337 4Q 20073 1,468 46 Annual Report 2007
8,000 6,000 4,000 2,000 250 492 3,158 268 478 3,201 294 579 3,715 314 699 4,106 342 808 4,070 428 809 3,913 369 958 4,106 378 1,096 4,292 383 1,350 4,374 0 05/3 05/6 05/9 05/12 06/3 06/6 06/9 06/12 07/3 RI 3 SMA 401k 20072 Annual Report 2007 47
Investment SMBC SMBC SMBC PI SMBC 100% SMBC PI MA 2007 MA SMBC PI SMBC 2004 2005 2006 * 12,515 19,043 29,712 9,370 15,225 23,782 5,526 9,096 14,081 * 20042005 48 Annual Report 2007
SMBC 2008 4,000 20093 400 SMBC 400 356.0 310.0 300 200 100 90.0 63.5 28.0 37.0 0 02/3 03/3 04/3 05/3 06/3 07/3 2006 SMBC PI2006 237 56% 20073 3,5602,570 200633,10015% SMBC PI 7 200610CDM Clean Development Mechanism SMBC PI 200934,000 2008400 2007 1 2 1,000 620065 9 1,000 SMBC PI340 12 15 20072GDH 20 2802,570 210610 Annual Report 2007 49
2006 2006 340 GDH 20 6 15 1,000 SMBC PI2006 20064 5 200611 20072 2007 EMP-Daiwa Capital Asia Limited 20071EMP Global L.L.C.EMPGEMP-Daiwa Capital Asia Limited 5,000 3,000 99849.9% EMPG 1,00250.1% 1 2 50 Annual Report 2007
SMBC SMBC 200510 FGSMBC 1 2 MBO FG 2006 SMBC 200695 4246 2006 20412 37026% 19811239 4% TOB PEMBO61315 64 38343 6 SMBC 2004 2005 2006 3,842 8,924 9,527 32 4,800 4,233 8,491 6,689 4,622 2004 Annual Report 2007 51
NIFSMBC- V2006603 1 2 SMBC2005101 SMBC 3 SMBC SMBC FG FG EMP-Daiwa Capital Asia Limited FG 20068 12 GABA 52 Annual Report 2007
Group Support IT IT 2006 2006 IT 2006948 20%97 33% 2006 1 Annual Report 2007 53
IT * 1 2 * 2 2Institutional Investor * 3 2 * 1 2006117 * 2 2007322 * 3 20074 20062007 1 2 3IT 4 ITIT 54 Annual Report 2007
200212 SMBC ISO90012000* ISO90011994 ISO90012000 20059 JIPDEC * ISO900120001994 Annual Report 2007 55
200711 50 56 Annual Report 2007
58 SEE PAGE SEE PAGE 60 SEE PAGE 62 SEE PAGE 64 SEE PAGE 65 SEE PAGE 66 IT 67 SEE PAGE CSR SEE PAGE 68 SEE PAGE 71 72 SEE PAGE Annual Report 2007 57
1999 20046 20063 200612 20065 200612 496% ROE SMBC3 2006 5 105 14 1,042 19 1,147 1 2006 2 100 3 2006167200462319 4 1,147467 5200613148 58 Annual Report 2007
CEO 2008 2008IT 4 Annual Report 2007 59
CEO 1971 1997 1998 1999 2001 2002 SMBC 2003 2004 CEO 1969 1996 1998 1999 2000 2003 2004 COO SMBC 1974 1997 2001 SMBC 2004 2006 SMBC 2007 COO SMBC SMBC 1972 1997 1999 2001 2003 2006 2007 SMBC 1969 1995 1998 1999 SBCM SMBC 2000 2002 2004 SMBC 2005 1968 1993 1997 1999 SBCM SMBC 2001 2002 2003 2004 60 Annual Report 2007
SMBC CIO 1979 2002 SMBC 2004 2007 1973 1996 2001 2004 2005 2006 SMBC 2007 SMBC 1983 1996 1999 2003 2005 2006 CIO CFO 1980 2001 2005 2006 SMBC CFO 1975 2001 SMBC 2006 1983 2005 SMBC 2006 2007 1982 2005 2007 SMBC 1967 1991 1995 1997 1999 CEO 2004 1969 1994 1997 1999 SBCM SMBC 2004 2005 Annual Report 2007 61
62 Annual Report 2007 Daiwa Securities Group 360 2 SMBC 205 2006 FP 2008 2000 648123 51 2 3No.1 4 5 3 2,000 2006720073 100%
Annual Report 2007 63 Daiwa Securities Group 12 3 20068 20066 2006 SMBC3 2006 2007 199413178,00020 20052006 2007655 2006 20064 20064 20074 SMBC2007
99% 1 1 MA ROE 64 Annual Report 2007
* * P.66 VaR 1 JASDAQ SMBC BCP 2006 Annual Report 2007 65
66 Annual Report 2007 Daiwa Securities Group 2006 SMBC 2006e 2006 2006 SMBC 2006 2007 200612 20071
Annual Report 2007 67 Daiwa Securities Group IT IT IT IT SMBC IT IT IT IT IT IT ISMS ISMS IT
CSR CSR CSR CSR 5 CSR SRI CSR UNEP FI* 1 PRI* 2 CSR NPO CSR 1 * United Nations Environment Programme Finance Initiative UNEP FIUNEP 1992 2 * Principles for Responsible Investment 20064UNEP FI ESG CSR NPONGO CSR 20071 100 2004 2006 CSR 3 CSRCSR 68 Annual Report 2007
SRI 20073 583 SRI 96 Mrs. 37 UBS40 37 753 20075 4 92CSR CSR 1. SRI SRI SRI SRI 20063 20073 583SRI 2. 2006 2007 NPO 20043 * 1 200411UNEP FI 20075UNEP FI * 2 PRI * 1 CDP * 2 20076 UNEP FI Annual Report 2007 69
CSR 20075100 2006 SRI 20069FTSE FTSE4Good Index FTSE SAM SRIDow Jones Sustainability World IndexDJSI World8 CSR 1NPO 2SRI 3 3 CSR 70 Annual Report 2007
IT SMA 18 12 16 20073 3334 20073312 200616 8 8 6 0 8 8 0 1 0 1 2000 2001 2002 2003 2004 2005 2006 Annual Report 2007 71
72 Annual Report 2007 Daiwa Securities Group IR CSR IR IR 2006 CEO 2006 CEO 20067IR 2006 20076 2006 IR IR
5 74 SEE PAGE SEE PAGE 75 8 76 SEE PAGE SEE PAGE 78 SEE PAGE 80 Annual Report 2007 73
5 US$ 1 2002 2003 2004 2005 2006 2006 387,659 453,814 519,337 845,660 917,308 $7,774 144,283 194,163 216,387 309,189 306,736 2,599 93,932 120,195 151,118 224,912 157,333 1,333 4,132 8,676 12,763 21,539 32,818 278 107,950 96,366 105,428 245,211 373,453 3,165 37,362 34,414 33,641 44,809 46,968 398 270,810 352,435 390,432 579,359 526,764 4,464 24,109 92,520 114,888 254,160 186,391 1,580 11,845 76,926 112,603 258,356 185,923 1,576 (6,323) 42,637 52,665 139,948 92,725 786 US$ 1 9,502,826 10,765,665 12,378,962 14,898,692 14,411,265 $122,129 77,866 87,367 142,547 382,421 440,178 3,730 162,339 143,123 137,620 126,531 134,536 1,140 259,207 229,924 193,202 269,854 269,805 2,286 541,719 604,170 648,332 792,281 2 1,223,226 10,366 1 US$ 1 3 (4.75) 31.66 39.03 103.90 67.90 $0.58 3 407.84 453.60 486.70 598.27 665.98 5.64 6.00 10.00 13.00 34.00 28.00 0.24 % 4 7.4 8.4 19.4 10.8 5.7 5.6 5.2 5.3 6.5 12,483 12,459 12,243 12,561 13,264 FA) 924 894 948 1,055 917 1. US1US$=118 2. 3. 11 2002~20051 20061 4. 74 Annual Report 2007
2002 2003 2004 2005 2006 49,178 130,085 139,992 244,488 130,275 47,242 80,061 83,887 120,217 98,987 1,936 50,024 56,105 124,271 31,288 96,580 75,390 99,277 103,843 128,712 4,585 5,219 4,264 3,202 2,667 91,995 70,171 95,013 100,641 126,045 40,870 43,046 45,640 82,404 106,906 39,638 55,805 71,170 82,735 74,986 44,544 48,109 34,353 65,889 85,885 270,810 352,435 390,432 579,359 526,764 47,242 80,061 83,887 120,217 98,987 45,403 78,194 81,919 118,262 97,062 1,839 1,867 1,968 1,955 1,925 4,585 5,219 4,264 3,202 2,667 40,870 43,046 45,640 82,404 106,906 276 209 159 336 317 14,059 21,904 19,688 41,799 37,211 13,029 9,992 11,779 17,994 33,668 13,506 10,940 14,014 22,275 35,711 39,638 55,805 71,170 82,735 74,986 18,092 36,927 44,659 54,066 43,510 9,522 8,400 8,573 8,554 9,406 608 1,662 3,598 2,032 1,310 M&A 11,084 8,049 12,828 16,389 19,607 11,948 10,032 11,426 20,631 23,190 3,500 1,485 1,926 6,302 6,134 2,439 2,652 3,013 4,776 4,981 6,007 5,895 6,487 9,553 12,074 144,283 194,163 216,387 309,189 306,736 239,719 315,579 351,457 543,196 475,174 7,677 11,217 10,612 14,286 14,684 23,331 27,369 30,405 33,758 35,904 5,862 7,672 8,534 12,098 14,729 24,054 83,310 106,914 248,212 172,568 (3,404) 1,020 17 2,366 1,605 3,386 6,956 6,202 10,079 8,341 67 1,561 1,753 3,626 3,878 7,270,670 8,617,452 10,078,853 12,239,143 10,808,697 1,817,691 1,948,621 2,098,376 2,807,087 3,372,712 656,448 768,712 811,192 1,145,934 1,238,352 63,721 63,531 62,560 72,881 81,732 Annual Report 2007 75
8 2005 1 2 3 4 TOPIX 1,151 1,254 1,507 1,657 1 1,403 1,972 3,108 3,147 750 (1,873) (912) (2,051) (667) (2,601) (350) (287) 307 4,591 3,090 2,068 21 (101) (26) (8) 10% 1.27 1.35 1.52 1.58 107.71 111.16 117.28 116.90 135.36 135.70 139.41 140.66 135,435 195,376 245,284 269,562 45,039 62,944 89,853 111,351 17,756 26,209 39,072 36,482 5,320 9,132 16,378 33,482 7,515 9,305 13,214 13,796 14,447 18,297 21,188 27,590 35,804 68,547 57,749 62,810 4,009 2,071 9,037 6,421 42,965 52,483 73,869 75,892 7,616 9,330 14,774 13,087 38,531 49,507 70,425 73,107 5,621 7,178 12,085 9,843 91,282 138,689 162,773 186,612 69,878 80,106 86,389 88,824 13,748 15,509 16,148 18,503 34,961 42,485 47,355 46,260 7,746 8,312 8,042 8,557 4,309 4,014 4,379 4,569 5,551 5,588 5,669 5,830 1,594 2,004 2,109 2,363 1,966 2,191 2,685 2,739 21,404 58,582 76,383 97,788 2,705 1,957 2,196 1,838 308 384 172 1,338 23,800 60,155 78,407 98,287 321 10,562 3,020 921 614 1,867 14,640 24,122 70,102 79,560 84,569 11,636 34,185 38,803 55,322 76 Annual Report 2007
2006 1 2 3 4 TOPIX 1,641 1,584 1,621 1,728 1 2,842 2,315 2,576 3,327 878 446 1 (1,651) 1 (1,611) (2,483) (402) (412) 1,185 2,687 2,677 11 (68) (70) (8) 10% 1.88 1.79 1.69 1.67 114.41 116.21 117.76 119.34 143.85 148.14 151.95 156.35 207,638 211,752 242,778 255,138 67,858 67,110 90,278 81,489 26,593 19,534 23,621 28,323 6,678 12,559 25,093 9,737 10,624 7,846 8,380 11,668 23,961 27,170 33,182 31,760 35,234 37,833 37,219 47,044 11,602 7,058 6,159 7,997 83,400 88,361 98,432 103,258 9,542 11,388 10,688 15,348 78,166 83,870 92,834 99,373 7,381 8,629 8,024 12,263 122,090 119,252 141,919 143,501 78,942 82,580 87,968 90,882 15,037 18,080 17,954 20,367 40,143 39,364 41,811 42,059 7,868 9,187 10,756 11,033 5,761 5,364 5,626 6,268 5,364 5,642 5,910 6,199 1,856 2,016 2,375 2,016 2,911 2,923 3,533 2,937 43,148 36,672 53,950 52,618 3,223 4,622 2,091 999 955 261 112 583 45,416 41,034 55,929 53,034 834 1,081 480 1,204 107 2,050 558 10,377 46,143 40,065 55,850 43,862 23,118 17,008 26,754 25,842 Annual Report 2007 77
2005 1 2 3 4 1 23,765 25,753 29,187 30,129 11,848 13,003 15,447 16,005 5,634 5,825 5,945 6,035 3,407 3,494 3,502 3,615 2,226 2,330 2,443 2,420 4,399 4,898 5,595 5,797 2,254 2,663 3,217 3,642 2,144 2,234 2,378 2,155 169 220 292 335 1,713 1,805 1,904 1,955 2 282 298 519 785 239 245 461 618 42 53 58 166 1 2,539 2,568 2,631 2,695 1 1,323 1,359 1,421 1,487 1 8,010 8,970 10,694 11,359 1,123 2,038 3,138 3,389 65.6% 71.6% 73.6% 78.1% 683 1,579 2,877 3,218 40.8% 49.2% 51.9% 58.3% 1 457 492 536 586 1 1,113 1,408 1,823 2,069 339 415 641 632 268 246 207 266 SMBC 1 21,369 22,418 24,691 24,029 10,382 11,942 14,163 13,931 8,905 8,564 8,560 8,279 942 992 1,042 1,035 1,138 919 925 783 1 5,861 6,434 7,188 7,574 2,452 2,879 3,482 4,238 3,409 3,554 3,706 3,335 1. 2. 78 Annual Report 2007
2006 1 2 3 4 1 28,677 29,174 30,680 32,332 14,551 14,516 14,905 15,386 6,073 6,218 6,629 7,112 3,644 3,660 3,886 4,356 2,429 2,557 2,742 2,756 5,711 6,076 6,653 6,945 3,642 4,001 4,484 4,791 2,068 2,075 2,169 2,154 337 377 415 443 2,003 1,986 2,076 2,443 2 418 504 564 946 339 309 305 422 79 194 258 523 1 2,726 2,755 2,783 2,819 1 1,521 1,551 1,579 1,616 1 10,734 10,994 11,658 12,206 2,489 1,974 2,016 2,446 78.6% 80.4% 78.0% 78.3% 2,394 1,842 1,880 2,542 61.2% 63.3% 61.3% 62.0% 1 613 634 661 700 1 1,971 2,046 2,185 2,424 498 352 435 557 220 264 277 298 SMBC 1 23,489 24,562 25,488 26,901 13,333 13,476 14,181 14,661 8,111 8,821 8,984 10,575 1,076 1,028 1,066 1,039 968 1,235 1,255 625 1 7,722 8,155 9,181 9,666 4,569 5,026 5,887 6,388 3,152 3,128 3,294 3,277 1. 2. Annual Report 2007 79
1. 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 06/4 06/5 06/6 06/7 06/8 06/9 06/10 06/11 06/12 07/1 07/2 07/3 0 2. 10 2007331 % 91,354 6.50 76,372 5.44 4 42,613 3.03 34,632 2.47 30,328 2.16 28,720 2.04 24,888 1.77 24,205 1.72 23,140 1.65 20,867 1.49 3. 2006412007331 4. 2007331 1,572 1,673 1,170 1,423 9,266 2.4% 15.6% 40.1% 37.9% 4.1% 80 Annual Report 2007
2006 82 SEE PAGE SEE PAGE 92 SEE PAGE 94 95 SEE PAGE 96 SEE PAGE 98 SEE PAGE SEE PAGE 116 Annual Report 2007 81
2006 2006 20021 200611 196511-19707 57GDP2003 2%20064 2% 20013 %2006 3 70.25% 20072 54 200711 16 17,000 15,000 2 18,000 2007317,287.65 2006317,059.661.3% GDP 6 % 160 4 140 2 0 120 2 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2004 2005 2006 GDP GDP 100 04/3 04/9 05/3 05/9 06/3 06/9 07/3 82 Annual Report 2007
FRB 20066 ECB 10% 2006 10.8%310% 2006128 41.2%30% 20,000 4,000 5,2679.1% 3,0670.8% 2005 15,000 3,000 10,000 2,000 5,000 1,000 0 04/3 04/9 05/3 05/9 06/3 06/9 1 07/3 0 Annual Report 2007 83
1,57330.0% SMBCSPS Structured Principal Solution Program SMBC SMBC 2006 2005 2006 1 2 3 4 309,189 306,736 0.8% 67,858 67,110 90,278 81,489 224,912 157,333 30.0% 35,234 37,833 37,219 47,044 21,539 32,818 52.4% 11,602 7,058 6,159 7,997 13,638 19,207 40.8% 5,233 4,491 5,597 3,884 10,079 10,669 5.9% 2,161 2,758 2,663 3,085 579,359 526,764 9.1% 122,090 119,252 141,919 143,501 98917.7% 12005 1,069 29.7% 200634.2200736.4 749 9.4% MA No.1 2006 2005 2006 1 2 3 4 120,217 98,987 17.7% 26,863 19,658 23,895 28,569 3,202 2,667 16.7% 744 756 504 660 82,404 106,906 29.7% 24,766 23,703 26,430 32,006 82,735 74,986 9.4% 9,440 17,351 33,711 14,481 20,631 23,190 12.4% 6,042 5,640 5,736 5,771 309,189 306,736 0.8% 67,858 67,110 90,278 81,489 : 84 Annual Report 2007
3,4034.7% 11.8% 18.9% 33.3% 64.6% 56.1% 1,95425.0% 94 2946 92733.7% 2006 2005 2006 1 2 3 4 260,651 195,415 25.0% 45,416 41,034 55,929 53,034 139,948 92,725 33.7% 23,118 17,008 26,754 25,842 2,306 10.9%74426.3% 2006 33.6200734.7 2.4 1.9 1.75 2009 8 1.420073 32.3 SMA 200732,234 SMBC SMBC 3,171 9.6%92834.4% MA SMBC 2006460 3,560 2007 36.4 50% 2.9130 4.5%44 Annual Report 2007 85
SMBC 2005 2006 2005 2006 2005 2006 258,943 230,649 350,818 317,118 31,374 58,933 101,057 74,477 141,582 92,866 4,435 13,015 58,174 43,468 91,883 51,945 3,051 8,659 SMBC 2005 2006 2005 2006 2005 2006 7,325 9,744 4,613 4,407 4,800 4,233 14.0% 138 2006 2005 2,366 1,605 10,079 8,341 3,626 3,878 16,071 13,824 20073144,112 4,874138,911 5,0125,201136 SMBC 1800 5,401 131,8806,818 119,3998,729 12,4021,902 7,7384,150 1,509 16 86 Annual Report 2007
791 1,902 12,2322006 394393 442 144 3,687 732 9 4313,229 200733,527 2005 2006 368,790 14,470 952 73,288 322,945 43,163 392,350 352,779 2006 SMBC 491IT Annual Report 2007 87
SMBC SMBC SMBC SMBC SMBC 1 99% 88 Annual Report 2007
VaR 99%1 SMBC 056 059 0512 063 066 069 0612 073 7.1 10.3 5.0 18.7 8.6 13.8 14.2 9.3 3.1 11.5 5.7 8.0 15.5 10.1 7.4 6.2 0.8 0.8 2.4 1.1 1.8 7.8 6.2 16.3 0.3 1.2 11.0 22.6 13.1 27.8 25.9 31.7 28.1 33.0 3.3 5.8 3.9 9.6 8.4 11.6 12.1 13.5 VaR 7.7 16.8 9.2 18.2 17.5 20.1 16.0 19.5 21.9 18.7 16.9 26.8 33.6 22.1 26.9 29.6 7.7 6.6 9.2 8.4 12.8 11.7 10.9 9.1 14.7 9.6 13.1 13.5 21.5 17.6 18.0 19.3 056 059 0512 063 066 069 0612 073 7.7 10.9 5.3 19.3 10.5 14.8 14.8 9.8 4.8 12.9 7.8 9.2 17.1 10.9 8.8 8.0 0.8 0.8 2.4 1.1 1.8 7.8 6.2 16.3 0.3 1.2 13.3 24.6 15.5 29.6 29.4 33.5 30.1 35.3 3.8 6.0 4.0 9.8 8.8 11.8 12.2 13.5 VaR 9.5 18.6 11.5 19.8 20.6 21.7 17.9 21.8 23.9 23.0 19.5 30.7 36.9 24.2 28.6 35.5 9.5 8.1 11.5 9.9 14.9 14.2 13.3 11.4 16.6 11.9 15.5 15.6 24.2 19.9 20.2 21.3 Annual Report 2007 89
1 2007331 15,703 CMS SMBC CMS 90 Annual Report 2007
IR 2007726 SMBC Moody s Baa1 Baa1 P-2 A2 P-1 StandardPoor s BBB A-2 BBB A-2 A A-1 RI A a-1 A a-1 A a-1 JCR A A Annual Report 2007 91
20073312006331 US$ 1 2007 2006 2007 6 352,779 392,350 $ 2,989,653 256,435 297,878 2,173,178 9 21,031 15,540 178,228 630,245 705,768 5,341,059 1,925 3,113 16,314 9 143,467 56,886 1,215,822 3 575,457 563,538 4,876,754 9 122,029 157,690 1,034,144 (141) (294) (1,195) 842,737 780,933 7,141,839 4 6,814,612 6,274,506 57,750,949 59 5,082,219 6,162,243 43,069,653 69 440,178 382,421 3,730,322 15 25,680 29,488 217,627 245,590 232,284 2,081,271 (111,054) (105,753) (941,135) 134,536 126,531 1,140,136 81,315 68,813 689,110 23,729 23,538 201,093 69 269,805 269,854 2,286,483 11,492 11,865 97,390 56,316 64,583 477,254 (1,599) (1,851) (13,551) 441,058 436,802 3,737,779 14,411,265 14,898,692 $122,129,364 92 Annual Report 2007
US$ 1 2007 2006 2007 912 1,644,417 1,795,321 $ 13,935,737 302,392 234,210 2,562,644 912 1,212,681 1,146,912 10,276,958 3,159,490 3,176,443 26,775,339 11 233,164 250,765 1,975,966 67,771 302,573 574,331 39 233,353 197,483 1,977,568 33,279 43,300 282,025 567,567 794,121 4,809,890 4 5,159,100 4,744,007 43,721,186 5 4,105,362 4,879,189 34,791,203 12,551 73,779 106,364 15 33,290 41,907 282,119 31,200 41,714 264,407 13 23,181 20,295 196,449 3,757 31,839 623 5,280 84,021 91,411 712,042 188,623 269,106 1,598,500 16 7,897 7,025 66,924 13,188,039 13,869,891 111,763,042 17 1819 4,000,000 1,404,6652007331 178,324 138,828 1,511,220 157,679 118,339 1,336,263 520,474 476,216 4,410,797 (11,628) (14,660) (98,542) 5 42 844,854 718,723 7,159,780 75,658 72,694 641,169 468 (199) 3,966 8,546 864 72,424 84,672 73,359 717,559 14 611 5,178 293,089 236,719 2,483,805 1,223,226 1,028,801 10,366,322 14,411,265 14,898,692 $122,129,364 Annual Report 2007 93
200733120063312005331 US$ 1 2007 2006 2005 2007 21 306,736 309,189 216,387 $2,599,458 22 157,333 224,912 151,118 1,333,331 32,818 21,539 12,763 278,119 373,453 245,211 105,428 3,164,856 46,968 44,809 33,641 398,033 917,308 845,660 519,337 7,773,797 354,245 231,572 103,677 3,002,076 36,299 34,729 25,228 307,619 20 526,764 579,359 390,432 4,464,102 2023 340,373 325,199 275,544 2,884,517 20 186,391 254,160 114,888 1,579,585 16 (566) (1,374) (518) (4,797) 24 98 5,570 (1,767) 831 (468) 4,196 (2,285) (3,966) 185,923 258,356 112,603 1,575,619 15 65,794 77,676 11,933 557,576 3,657 392 28,234 30,992 69,451 78,068 40,167 588,568 (23,747) (40,340) (19,771) (201,246) 92,725 139,948 52,665 $ 785,805 US$ 1 1 67.90 103.90 39.03 $0.58 66.07 98.61 37.36 0.56 28.00 34.00 13.00 0.24 94 Annual Report 2007
200733120063312005331 2004331 1,331,735 138,432 117,940 330,780 (690) 27,298 (9,590) 165,664 52,665 (19,960) 1 0 1 (536) (97) 8,376 3,713 23,530 2005331 1,331,736 138,432 117,941 362,949 (787) 35,674 (5,877) 189,194 139,948 608 (26,612) 724 396 396 (677) 2 (13,873) 37,020 6,741 47,525 2006331 1,332,460 138,828 118,339 476,216 (14,660) 72,694 (199) 864 236,719 72,205 39,496 39,496 92,725 406 (45,806) (1,828) (156) (1,239) 3,032 5 2,964 667 7,682 611 56,370 2007331 1,404,665 178,324 157,679 520,474 (11,628) 5 75,658 468 8,546 611 293,089 US$ 1 2006331 $ 1,176,508 $ 1,002,873 $ 4,035,729 $(124,237) $ $ 616,051 $(1,686) $ 7,322 $ $ 2,006,093 334,712 334,712 785,805 3,441 (388,186) (15,492) (1,322) (10,500) 25,695 42 25,118 5,652 65,102 5,178 477,712 2007331 $1,511,220 $1,336,263 $4,410,797 $ (98,542) $42 $641,169 $ 3,966 $72,424 $5,178 $2,483,805 Annual Report 2007 95
200733120063312005331 US$ 1 2007 2006 2005 2007 92,725 139,948 52,665 $ 785,805 23,117 22,641 22,129 195,907 317 226 2,289 2,686 1,234 23 1,402 10,458 611 5,178 567 1,374 518 4,805 (3,926) (11,060) (2,687) (33,271) 5,880 11,838 (351) 49,831 (4,725) 551 4,669 4,681 39,669 3,657 392 28,234 30,992 23,747 40,340 19,771 201,246 27,247 (195,882) (28,087) 230,907 (113,773) (29,270) 77,878 (964,178) (45,410) (192,645) (44,197) (384,831) 79,204 615,610 111,198 671,220 (150,764) (63,704) (1,183,394) (1,277,661) 35,865 33,684 (76,044) 303,941 (107,195) 228,842 (1,071,341) (908,432) (14,470) 368,790 (1,018,676) (122,627) (36,290) (10,685) (53,041) (307,542) 30,995 55,201 262,669 (18,439) (12,526) (7,786) (156,263) 539 719 5,315 4,568 (34,648) (24,312) (293,627) (47,527) (51,554) (35,693) (402,771) 36,553 43,604 99,469 309,771 1,357 11,500 (876) 358 149 (7,424) (4,952) (1,757) (18,689) (41,966) (73,288) (952) (10,276) (621,085) 96 Annual Report 2007
US$ 1 2007 2006 2005 2007 (97,430) (446,190) 759,982 $ (825,678) 10,360 58,496 14,788 87,797 509,087 505,358 225,875 4,314,297 (362,305) (401,374) (97,102) (3,070,381) 40,080 10,000 339,661 (45,806) (26,612) (19,960) (388,186) (12,039) (9,177) (168) (102,025) 1,216 (13,446) 454 10,303 43,163 (322,945) 883,869 365,788 4,788 7,429 3,819 40,577 (39,807) 52,322 (141,264) (337,347) 392,350 338,697 480,123 3,325,000 236 1,331 2,000 (162) 352,779 392,350 338,697 $ 2,989,653 348,266 222,153 103,440 $ 2,951,407 111,811 11,405 13,690 947,551 Annual Report 2007 97
200733120063312005331 1. SMBC SMBCNIF SMBC 2005101SMBC SMBC 117 SMBC 60% 20073311US$118 2. 40%50% 20% 15%20% 20 98 Annual Report 2007
Annual Report 2007 99 Daiwa Securities Group 3 a b c 2007331 10 7,97467,576 US$ 22
100 Annual Report 2007 Daiwa Securities Group 199841 4,439 5 4 1,553 13,161US$ 8 11 6115,178US$ SMBCNIF SMBC 5 8 11
1 2007331 2007331 2005331 2006331 3. 20073312006331 US$ 2007 2006 2007 339,104 359,331 $2,873,762 236,353 204,207 2,002,992 575,457 563,538 $4,876,754 14,447 7,570 $ 122,432 218,906 189,913 1,855,136 233,353 197,483 $1,977,568 4. 20073312006331 US$ 2007 2006 2007 1,595,729 2,184,881 $13,523,124 5,218,883 4,089,625 44,227,825 6,814,612 6,274,506 $57,750,949 3,219,353 2,811,293 $27,282,652 1,939,747 1,932,714 16,438,534 5,159,100 4,744,007 $43,721,186 Annual Report 2007 101
5. 20073312006331 US$ 2007 2006 2007 377,531 371,948 $ 3,199,423 3,720,283 4,005,132 31,527,818 111,367 95,498 943,788 CDCP 19,714 18,635 167,064 166,603 908,197 1,411,890 177,068 156,934 1,500,576 509,663 607,483 4,319,178 1,927 1,127 16,331 (1,937) (2,711) (16,415) 5,082,219 6,162,243 $43,069,653 88,620 99,551 $ 751,012 3,314,739 3,216,833 28,091,008 14,475 5,471 122,672 256,023 1,007,981 2,169,686 46,293 67,232 392,316 383,702 480,973 3,251,712 1,510 1,148 12,797 4,105,362 4,879,189 $34,791,203 6. 20073312006331 2007331 4,345 4,589 244 2006331 3,205 3,543 338 US$ 2007331 $36,822 $38,890 $2,068 102 Annual Report 2007
20073312006331 2007331 1,769 1,769 0 2006331 2,509 2,502 (7) US$ 2007331 $14,992 $14,992 $ 0 20073312006331 2007331 96,500 220,484 123,984 150 156 6 8,832 10,228 1,396 105,482 230,868 125,386 2006331 82,493 203,127 120,634 150 158 8 13,719 15,474 1,755 96,362 218,759 122,397 2007331 US$ $817,797 $1,868,508 $1,050,711 1,271 1,322 51 74,847 86,678 11,831 $893,915 $1,956,508 $1,062,593 Annual Report 2007 103
20073312006331 US$ 2007 2006 2007 257,288 245,399 $2,180,407 802 349 6,797 150,435 132,751 1,274,873 45,110 22,631 382,287 453,635 401,130 $3,844,364 2007331 27,623234,093US$200633126,334 7. 20073312006331 2007331 11,922 10 10 3,612 100 100 2006331 11,289 17 17 801 24 24 US$ 2007331 $101,034 $ 85 $ 85 30,610 847 847 104 Annual Report 2007
8. SMBC 12 3 FRA SMBC SMBCqw er t5 SMBC5 9. 2007331754,8886,397,355US$14,439122,364US$ 20169US$ US$ 125 $ 1,059 18,517 156,924 1,072,264 9,086,983 614 5,203 98,496 834,712 7,973 67,568 1,197,989 $10,152,449 2007331535,0444,534,271US$ 2007331 US$ 6,133,988 $51,982,949 739,061 6,263,229 6,873,049 $58,246,178 2007331 US$ 8,440,583 $71,530,364 659,903 5,592,399 9,100,486 $77,122,763 Annual Report 2007 105
10. 20073312006 331 US$ 2007 2006 2007 6,161 7,685 $52,212 4,338 4,584 36,763 1,878 3,181 15,915 1 1,100 1,501 9,322 11,767 9,000 99,720 1 2,239 1,999 18,975 US$ 2007 2006 2007 1,056 1,803 $ 8,949 1 289 387 2,449 11. 20073312006331 US$ 2007 2006 2007 124,851 131,335 $1,058,059 100,494 99,225 851,644 7,819 20,205 66,263 233,164 250,765 $1,975,966 12. 106 Annual Report 2007
20073312006331 US$ 2007 2006 2007 0.95%2008 120,000 120,000 $ 1,016,949 1.30%2011 70,000 70,000 593,220 2.08%2016 30,000 30,000 254,237 1.80%2011 50,000 423,729 1,094.00 0.5%2006 79,193 2037 774,785 677,159 6,565,975 2007 2,000 2,608 16,949 2012 60,000 82,000 508,475 105,896 85,952 897,424 1,212,681 1,146,912 $10,276,958 2007331 US$ 2008 27,913 $ 236,551 2009 142,774 1,209,949 2010 18,129 153,636 2011 109,804 930,542 2012 122,195 1,035,551 2013 791,866 6,710,729 1,212,681 $10,276,958 200733189,864761,559US$ 13. 17,980 2007331 3,30528,008US$2006331 2,8642005331 2,946 2007331 19,903168,669US$2006331 199941 Annual Report 2007 107
20073315905,000 US$2006331383 2007 3311991,686 US$2006331174 2005331439 20045 20046 20053 20056 14. 2007331 2004623 1,815,000 756 ($ 6.41) 2006712011831 2005624 528,000 1 ($ 0.01) 2005712025630 781 ($ 6.62) 2007712012831 2006624 298,000 1 ($ 0.01) 2006712026630 1,515 ($12.84) 2011712016623 NIF SMBC2007331 2002627 0 308,000 ($2,610.17) 20046282006627 2004624 305 201,800 ($1,710.17) 2006712011831 2005628 252 1 ($ 0.01) 200512120251130 426,300 ($3,612.71) 2007712012831 2006627 31 1 ($ 0.01) 200698202697 50 1 ($ 0.01) 200698202697 430,290 ($3,646.53) 2011712016626 108 Annual Report 2007
15. 2007331 40.7% 20073312006331 US$ 2007 2006 2007 42,416 25,656 $ 359,458 11,136 10,637 94,373 8,939 8,026 75,753 9,377 15,278 79,466 1,899 2,423 16,093 6,988 7,248 59,220 1,446 8,338 12,253 4,536 1,522 38,441 5,922 5,426 50,184 13,362 8,786 113,242 106,021 93,340 898,483 (65,378) (51,824) (554,051) 40,643 41,516 344,432 48,253 53,935 408,924 (7,610) (12,419) $ (64,492) 200733120063312005331 2007 2006 2005 40.7% 40.7% 40.7% (9.0) (9.0) (7.0) 0.9 0.3 1.2 (0.3) (0.3) (0.6) (1.0) (0.6) (0.8) 5.2 0.6 3.8 0.9 (1.5) (1.6) 37.4% 30.2% 35.7% 16. Annual Report 2007 109
17. 20073311,68314,263US$ 18. 2 1 41 101 41 2007331 285,0002,415,254US$ 4591 2006102616,741 141,873US$1120.10US$2007518 22,332189,254US$1 160.14US$ 2004623 4,500 2006712011831 200562420066242007623 2 11 19. 140% 20073312006331 319.3%323.6% SMBC465.7%336.3% 110 Annual Report 2007
20. 1 234 5 2007331200633120053312007331 2006331 2007331 483,875 9,588 19,870 13,431 526,764 (8,701) 5,096 16,034 1,298 (13,727) 475,174 14,684 35,904 14,729 (13,727) 526,764 302,606 13,079 27,563 10,851 (13,726) 340,373 172,568 1,605 8,341 3,878 (1) 186,391 2007331 10,808,697 3,372,712 1,238,352 81,732 (1,090,228) 14,411,265 2006331 541,666 5,528 21,673 10,492 579,359 1,530 8,758 12,085 1,606 (23,979) 543,196 14,286 33,758 12,098 (23,979) 579,359 294,984 11,920 23,679 8,472 (13,856) 325,199 248,212 2,366 10,079 3,626 (10,123) 254,160 2006331 12,239,143 2,807,087 1,145,934 72,881 (1,366,353) 14,898,692 2005331 353,827 3,971 25,378 7,256 390,432 (2,370) 6,641 5,027 1,278 (10,576) 351,457 10,612 30,405 8,534 (10,576) 390,432 244,543 10,595 24,203 6,781 (10,578) 275,544 106,914 17 6,202 1,753 2 114,888 Annual Report 2007 111
US$ 2007331 $ 4,100,636 $ 81,254 $ 168,390 $113,822 $ $ 4,464,102 (73,737) 43,186 135,881 11,000 (116,330) 4,026,899 124,440 304,271 124,822 (116,330) 4,464,102 2,564,457 110,839 233,585 91,958 (116,322) 2,884,517 $ 1,462,442 $ 13,602 $ 70,686 $ 32,864 $ (8) $ 1,579,585 2007331 $91,599,127 $28,582,305 $10,494,508 $692,644 $(9,239,220) $122,129,364 200733120063312005331 2007331 19,325 13,101 11,902 44,328 526,764 3.7% 2.5% 2.3% 8.4% 2006331 10,313 19,370 11,016 40,699 579,359 1.8% 3.3% 1.9% 7.0% 2005331 8,552 21,149 8,890 38,591 390,432 2.2% 5.4% 2.3% 9.9% US$ 2007331 $163,771 $ 111,025 $100,864 $ 375,660 4,464,102 3.7% 2.5% 2.3% 8.4% 112 Annual Report 2007
21. 200733120063312005331 2007331 97,062 694 317 98,073 54,069 54,069 37,211 1,310 38,520 1,925 1,973 69,379 19,607 23,190 116,074 98,987 2,667 106,906 74,986 23,190 306,736 2006331 118,262 923 336 119,521 64,314 64,314 41,799 2,032 43,831 1,955 2,279 40,269 16,389 20,631 81,523 120,217 3,202 82,404 82,735 20,631 309,189 2005331 81,919 1,464 159 83,542 54,744 54,744 19,688 3,598 23,286 1,968 2,800 25,793 12,828 11,426 54,815 83,887 4,264 45,640 71,170 11,426 216,387 US$ 2007331 $822,559 $ 5,882 $ 2,686 $ $ $ 831,127 458,212 458,212 315,339 11,102 326,441 16,314 16,720 587,958 166,161 196,525 983,678 $838,873 $22,602 $905,983 $635,475 $196,525 $2,599,458 22. 200733120063312005331 US$ 2007 2006 2005 2007 31,288 124,271 56,105 $ 265,153 126,045 100,641 95,013 1,068,178 (48,693) (39,026) (62,407) (412,653) (77,352) (61,615) (32,606) (655,525) 157,333 224,912 151,118 $1,333,331 Annual Report 2007 113
23. 200733120063312005331 US$ 2007 2006 2005 2007 163,379 171,062 142,751 $1,384,568 37,672 31,508 19,607 319,254 19,749 18,646 18,174 167,364 38,846 32,659 32,697 329,203 23,021 17,273 16,805 195,093 8,265 8,072 6,756 70,042 23,117 22,641 22,129 195,908 26,324 23,338 16,625 223,085 340,373 325,199 275,544 $2,884,517 24. 200733120063312005331 US$ 2007 2006 2005 2007 3,602 10,030 5,559 $ 30,525 (363) (70) (892) (3,076) (736) (499) (3,472) (6,237) (1,510) (114) (12,797) (1,395) (548) 465 (11,822) (7,595) 502 (188) (317) (1,639) (2,686) 1,424 1,528 1,894 12,068 (2,975) (6,851) (25,212) (51) (4,681) (39,669) (779) 4,725 (200) (1,279) (1,564) (4,439) (551) (4,669) 7,600 4,737 4,543 64,406 98 5,570 (1,767) $ 831 114 Annual Report 2007
200733120063312005331 US$ 2007 2006 2005 2007 2,975 6,201 $25,212 650 2,975 6,851 $25,212 5% 25. 2007623 236238239 1 10.01US$ Annual Report 2007 115
20073312006331 20073313 2007331200633120073313 2 2007331 1 2007625 116 Annual Report 2007
SEE PAGE 118 SEE PAGE 124 SEE PAGE 128 SEE PAGE 129 SEE PAGE 131 Annual Report 2007 117
1) 2007731 IT IR CSR IT 118 Annual Report 2007
Annual Report 2007 119 Daiwa Securities Group 22007623 CEO COO CIO CFO
120 Annual Report 2007 Daiwa Securities Group SMA SMA SMA SMA SMA 1) 200771
2) 2007623 a Annual Report 2007 121
122 Annual Report 2007 Daiwa Securities Group SMBC IT M&A 1) 200772
2) 2007623 SMBCB.V. SMBC a a SMBC SMBC a SMBC SMBC SMBCPte Ltd Annual Report 2007 123
2007731 100-8155 264 033243-2626 100-0005 181 033243-2626 060-8601 413 011214-6111 085-0015 1112 015423-0161 030-8611 2513 017777-2111 020-8701 11210 019652-1171 980-0021 2813 022221-5111 010-0001 452 018831-2811 990-0043 249 023622-8151 960-8651 1125 024522-3111 963-8661 1010 024932-3111 970-8026 17 024623-0111 310-8601 232 029226-9111 320-0033 1318 028621-3531 370-0849 581 027327-7111 330-0802 189 048642-3881 330-0063 21418 048834-6111 332-0012 421 048225-3611 359-1193 1212 042922-8111 359-1123 121 042922-8111 260-0015 223 043227-8181 273-0005 44022 047424-2111 271-8501 1915 047366-5111 285-0837 1288 043462-1009 277-0005 224 047166-2701 100-0011 222 033508-8111 104-0061 354 035250-8585 160-8401 33011 033352-5141 163-0663 1251 033345-1661 110-8515 21310 033832-0191 124 Annual Report 2007
136-0071 22217 033681-3181 141-8504 118 033493-1211 152-8561 21215 033717-0141 144-8502 7456 033732-9171 143-0016 151 035471-3311 157-0066 23412 033415-5211 150-0041 12314 033463-9211 164-0001 2305 035385-1311 171-0022 22814 033982-2141 171-0014 221 033980-1005 115-8711 195 033903-0311 176-0012 51713 033992-0131 120-0034 226 033879-6111 180-8521 2110 042222-9311 181-0013 3269 042241-0777 186-0002 1411 042571-0211 190-8686 2716 042526-1711 192-8655 810 042644-2211 206-8520 175 042375-5511 194-8521 61220 042722-2131 231-0015 220 045671-6700 220-8656 1111 045311-1271 244-8601 4100 045864-1715 227-0062 292 045983-8282 210-8502 121 044244-2121 251-0052 462 046623-8111 248-0006 1431 046723-1616 243-8601 4141 046224-8111 253-0044 99 046758-6111 238-0008 27 046821-1800 951-8611 10932 025223-4101 940-0066 125 025837-9001 Annual Report 2007 125
930-8611 33 076424-2411 933-0023 1014 076621-3500 920-8701 328 076262-4211 910-8601 1428 077622-3311 400-0031 2164 055222-0121 380-0824 128216 026227-6501 390-0874 2318 026335-0131 500-8566 778 058265-2171 420-8722 11 054254-3151 430-8675 61 053454-1411 410-0801 5722 055962-3590 460-8653 31530 052963-7111 450-0002 4623 052571-3111 440-0888 1271 053255-0011 444-0860 216 056424-6811 491-0859 3214 058671-6311 514-8601 3218 059226-7111 522-0075 69 074923-2111 600-8005 282 075251-2111 530-8265 11320 066454-7778 530-0012 113 066373-3311 542-8511 423 066632-5151 534-0024 2923 066354-1201 545-0052 2446 066624-0333 596-0055 38 072423-3501 560-0021 159 066854-1131 567-0829 101 072632-0651 590-0075 231 072223-8850 650-0021 124 078392-7911 670-0927 254 079223-2881 660-0882 4271 066411-1481 673-0892 2222 078917-0001 126 Annual Report 2007
663-8204 332 079866-3500 630-8666 481 074223-1271 640-8651 147 073431-1131 680-8511 1121 085729-1511 690-0003 4808 085227-7151 700-0907 113 086225-1111 730-0011 129 082228-5211 720-8641 11 084931-3333 750-0016 1212 083231-5151 745-8611 11 083421-5601 770-0834 124 088623-0131 760-8611 111 087822-2222 790-0003 3910 089941-7101 792-0016 210 089733-5800 780-0870 127 088823-0323 810-0001 1125 092713-4007 802-0003 1226 093531-1141 830-0032 359 094233-2131 840-0816 41 095224-6121 850-0033 71 095823-0181 860-8688 1228 096353-2551 870-0035 1426 097537-8111 880-0805 4630 098529-5211 892-0828 69 099223-5141 900-0032 1114 098861-5200 0120-010101 http//www.daiwa.jp Annual Report 2007 127
128 Annual Report 2007 Daiwa Securities Group 100-810164 033243-2111 100-828981 N 035533-8000 103-0025105 035695-2111 135-8460156 035620-5100 103-002779 033243-2915 135-001632 035633-6100 103-821919 033665-5601 SMBC 102-0073810 036910-2600 100-828981 N 035533-6058 135-001632 035683-9589 2007731 100-000461 036225-3200 135-001632 033615-7771 100-828981 N 033283-7000 100-810164 033243-2166 206-003512 042389-2111 101-002159 035256-4111 541-004339 066205-7855 103-002722 033272-4314 102-008352 033262-8558 135-8461146 033820-3295 DIR 135-0047116 035620-4180
2007731 Financial Square, 32 Old Slip, New York, NY10005, U.S.A. 1212-612-7000 PLC 5 King William Street, London EC4N 7JB, United Kingdom 4420-7320-8000 One Evertrust Plaza, Jersey City, NJ 07302, U.S.A. 1201-333-7300 Level 3, Block 5, Harcourt Centre, Harcourt Road, Dublin 2, Ireland 3531-603-9900 Level 3, Block 5, Harcourt Centre, Harcourt Road, Dublin 2, Ireland 3531-603-9900 6 Shenton Way #26-08, DBS Building Tower Two, Singapore 068809, Republic of Singapore 656222-7281 SMBC 5 King William Street, London EC4N 7AX, United Kingdom 4420-7597-8000 Trianon Bldg., Mainzer Landstrasse 16, 60325 Frankfurt am Main, Federal Republic of Germany 4969-717080 112, Avenue Kléber, 75116 Paris, France 331-56 26 22 00 50, rue du Rhône, P.O.Box 3198, 1211 Geneva 3, Switzerland 4122-818 74 00 Via Senato 14/16, 20121 Milan, Italy 3902 763271 Jose Ortega y Gasset 20, 7th floor, Madrid 28006, Spain 3491-529-9800 7th Floor, The Tower, Bahrain Commercial Complex, P.O. Box 30069, Manama, Bahrain 9731753-4452 DIFC, Room 17, Level 15, The Gate Building, P.O. Box 121208, Dubai, UAE 9714365-0170 Annual Report 2007 129
SMBC 8826 8522525-0121 SMBC 6 Shenton Way #26-08, DBS Building Tower Two, Singapore 068809, Republic of Singapore 656220-3666 SMBC Level 34, Rialto North Tower, 525 Collins Street, Melbourne, Victoria 3000, Australia 613-9916-1300 DBP-SMBC, Inc. 18th Floor, Citibank Tower, 8741 Paseo de Roxas, Salcedo Village, Makati City, Republic of the Philippines 632813-7344 d 120014 8862-2723-9698 9915 8621-6859-8000 6th Floor, DITC Building, #27-3, Youido-dong, Yongdungpo-gu, Seoul, Republic of Korea 822-787-9100 192103 8610-6500-6688 18th Floor, M. Thai Tower, All Seasons Place, 87 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Thailand 662-252-5650 81, Free Press House, 8th Floor, 215, Nariman Point, Free Press Journal Marg Mumbai 400021, India 9122-6622-1000 Premises 669, 3 Smolenskaya Ploshad, Moscow, 121099 Russia 7495-933-8939 130 Annual Report 2007
100-8101 64 033243-2100 URL http://www.daiwa-grp.jp/ 190251 19431227 4,000,000 1,404,6642007331 94,9022007331 533 44 183-8701 110 0120175-417 0120176-417 URL http://www.sumitomotrust.co.jp/sta/retail/service/daiko/ index.html IR 033243-3841 033242-0955 E ir-section@dsgi.daiwa.co.jp URL http://www.daiwa-grp.jp/ir/ Annual Report 2007 131
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