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Japan's Daiwa Securities to focus on retail, asset management: CEO

Steadier earnings growth will boost brokerage group's valuation, Nakata says

Daiwa Securities Group CEO Seiji Nakata aims to nearly quadruple pretax profit in the company's retail segment by fiscal 2030. (Photo by Masayuki Shikata)

TOKYO -- Japan's Daiwa Securities Group aims to generate 80% of pretax profit from asset management and retail-investor-oriented services by fiscal 2030, in a shift away from volatile investment banking, CEO Seiji Nakata says.

"We want to improve our valuation by reducing our reliance on wholesale, where earnings are exposed to volatility from market conditions," Nakata said in a recent interview.

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