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Streamlining of Corporate Headquarters
2/01/11
Daiwa Securities Group Inc.
Press Release
Attention Please note that this document is an unofficial translation of the press release announced on February 1st, 2011, by Daiwa Securities Group Inc., and was prepared solely for reference purpose only. The original press release is in Japanese. Daiwa Securities Group Inc. (gDSGIh, and together with its subsidiaries and affiliates, referred to collectively as gDaiwa Grouph), Daiwa Securities Co. Ltd., (gDAIWAh) and Daiwa Securities Capital Markets Co. Ltd. (gDCMh) announced to streamline headquarters organizations by reducing overlapping functions. 1. Streamlining of Corporate Headquarters After the financial crisis in late 2008, the financial industry has been facing rapid changes, together with tighter consolidated regulations on international basis. Additionally, the Japanese stock market is still far from its recent peak. Daiwa Group needs to be responsive to such difficult business environment. In these business settings, Daiwa Group intends to integrate administrative divisions among group companies, to streamline its headquarters operations and improve group-wide governance. Daiwa Group also plans to reallocate staff from headquarters to its sales divisions in order to be more competitive and responsive to client needs. Daiwa Group will set up a project team to implement this plan. 2. Expected Impact Daiwa Group expects over 30 billion yen in pretax profit improvement over the next 2 to 3 years, compared to the fiscal year 2010, by reduction in IT spending and rental costs, as well as revenue growth from personnel reinforcement in its sales divisions.
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