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## Top Management 

## Directors (Members of the Board) 

## Chairman of the Board 

Shigeharu Suzuki 

## Corporate Executive Officers 

<img src='content_image/236774.jpg'>

1979 Joined Daiwa Securities Co. Ltd. 2002 

Head of Corporate Planning Department, Daiwa Securities Group Inc. Senior Managing Director, Daiwa Securities SMBC Co. Ltd. 2004 

Member of the Board and Executive Managing Director, Daiwa Securities Group Inc. 2007 Senior Executive Managing Director 

2008 Senior Executive Managing Director, 

Daiwa Securities SMBC Co. Ltd. 2009 

Deputy President, Daiwa Securities Group Inc. Deputy President, Daiwa Securities SMBC Co. Ltd. 2011 President and CEO, Daiwa Securities Group Inc. 

President, Daiwa Securities Co. Ltd. President, Daiwa Securities Capital Markets Co. Ltd. 2012 President and CEO, Daiwa Securities Group Inc. 

President, Daiwa Securities Co. Ltd. 

<img src='content_image/236779.jpg'>

1980 Joined Daiwa Securities Co. Ltd. 2002 

Head of Corporate Institutions Dept. III Daiwa Securities SMBC Co. Ltd. 2004 Senior Managing Director 

2007 

Executive Managing Director 2009 

Member of the Board and Senior Executive Managing Director, Daiwa Securities Co. Ltd. 2012 Member of the Board and Deputy President, 

Daiwa Securities Group Inc. Deputy President, Daiwa Securities Co. Ltd. 

## Directors 

Takashi Hibino 

Nobuyuki Iwamoto 

Akio Takahashi 

## Takashi Hibino 

President and CEO Head of Retail and Wholesale 

President, Daiwa Securities Co. Ltd. 

## Yoriyuki Kusaki 

Deputy President Deputy Head of Retail 

Deputy President, Daiwa Securities Co. Ltd. 

Yoriyuki Kusaki 

Takatoshi Wakabayashi 

Toshihiko Onishi 

<img src='content_image/236775.jpg'>

1980 Joined Daiwa Securities Co. Ltd. 2001 

Head of International Finance Department, Daiwa Securities SMBC Co. Ltd. 2005 Senior Managing Director, 

Daiwa Securities Group Inc. 2006 

Member of the Board and Senior Managing Director 2008 Executive Managing Director 

2009 

Senior Executive Managing Director 2011 

Deputy President, Daiwa Securities Group Inc. Deputy President, Daiwa Securities Capital Markets Co. Ltd. 2012 Deputy President, Daiwa Securities Group Inc. 

Deputy President, Daiwa Securities Co. Ltd. 

<img src='content_image/236778.jpg'>

1978 Joined Daiwa Securities Co. Ltd. 2003 

Head of Financial Institutions Dept. I Daiwa Securities SMBC Co. Ltd. 2004 

Senior Managing Director, Daiwa Securities Co. Ltd. 2006 Member of the Board and 

Executive Managing Director 2007 

Senior Executive Managing Director 2009 

Deputy President, Daiwa Securities Group Inc. Deputy President, Daiwa Securities Co. Ltd. 2010 Member of the Board and Deputy President, 

Daiwa Securities Group Inc. 2012 Deputy President, Daiwa Securities Group Inc. 

President, Daiwa Asset Management Co. Ltd. 

## Nobuyuki Iwamoto 

Deputy President, COO and CFO Human Resources Officer Head of Overseas Offices 

Deputy President, Daiwa Securities Co. Ltd. 

## Makoto Shirakawa 

Deputy President Head of Asset Management 

President, Daiwa Asset Management Co. Ltd. 

Ryuji Yasuda 

Koichi Uno 

Nobuko Matsubara 

<img src='content_image/236776.jpg'>

1978 Joined Daiwa Securities Co. Ltd. 2003 

Head of Equity Capital Markets Department, Daiwa Securities SMBC Co. Ltd. 2004 Senior Managing Director 

2007 

Executive Managing Director 2008 

Member of the Board and Executive Managing Director 2009 Senior Executive Managing Director 

2011 

Deputy President, Daiwa Securities Group Inc. Deputy President, Daiwa Securities Capital Markets Co. Ltd. 2012 Member of the Board and Deputy President, Daiwa 

Securities Group Inc. Deputy President, Daiwa Securities Co. Ltd. 

<img src='content_image/236777.jpg'>

1978 Joined Daiwa Securities Co. Ltd. 2001 Head of Kobe Branch 

2002 

Senior Managing Director 2005 

Member of the Board and Executive Managing Director 2007 Senior Executive Managing Director 

2009 

Member of the Board and Deputy President, Daiwa Securities Group Inc. Deputy President, Daiwa Securities Co. Ltd. 2010 Deputy President, Daiwa Securities Group Inc. 

President, Daiwa Institute of Research Holdings Ltd. President, Daiwa Institute of Research Ltd. President, Daiwa Institute of Research Business Innovation Ltd. 

Keiichi Tadaki 

Kensuke Itoh 

## Akio Takahashi 

Deputy President Deputy Head of Wholesale 

Deputy President, Daiwa Securities Co. Ltd. 

## Takashi Fukai 

Deputy President Head of Think Tank 

President, Daiwa Institute of Research Holdings Ltd. President, Daiwa Institute of Research Ltd. President, Daiwa Institute of Research Business Innovation Ltd. 

