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Daiwa Securities posts 44.7% YOY drop in fiscal Q4 profit, ups Saigon Securities stake

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Daiwa Securities posts 44.7% YOY drop in fiscal Q4 profit, ups Saigon Securities stake

DaiwaSecurities Group Inc. reported a 44.7% year-over-year decrease innet profit for the fiscal fourth quarter ended March 31.

The company said April 28 that net profit attributable to ownersfell to ¥21.31 billion for the fiscal fourth quarter from ¥38.52 billion in theyear-ago period.

Net operating revenue for the quarter fell to ¥111.77billion from ¥139.32 billion in the prior-year period. Net trading income forthe period dropped to ¥28.69 billion from ¥41.82 billion.

Ordinary income for the fiscal fourth quarter came in at¥28.63 billion, down from ¥49.58 billion in the three months to March 31, 2015.Operating income for the period fell year over year to ¥23.44 billion from ¥46.40billion.

For the full fiscal year ended March 31, the company's netprofit attributable to owners fell 21.3% year over year in the aggregate to¥116.85 billion, or ¥67.68 per share, from ¥148.49 billion, or ¥86.28 pershare.

Net operating revenue for the full year fell to ¥514.82billion from ¥532.22 billion, while operating income dropped to ¥150.30 billionfrom ¥170.84 billion in the prior-year period.

The company declared a fiscal year-end dividend of ¥12 pershare, down from the prior-year dividend of ¥16 per share. The company's totaldividend for the fiscal year, including an interim dividend of ¥17 per share,amounted to ¥29 per share, compared to ¥30 per share in the prior-year period.

The scheduled date of the dividend payment is June 6.

Saigon Securitiesstake increase

Daiwa Securities also said it has increased its ownershipstake in Vietnam's SaigonSecurities Inc. to 74,606,601 shares, or up to 15% of itsoutstanding shares. The company previously owned a 10% ownership stake inSaigon Securities.

As of April 27, US$1was equivalent to ¥111.27.