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## Relationship With Employees and Executives 

The Daiwa Securities Group believes that maximizing each employ- ee’s motivation increases customer satisfaction and, as a result, will enhance shareholder value. The Group has introduced a range of measures to ensure that employees and executives feel satisfied with their job, and also, along with their families and all others con- cerned, can feel proud to be a member of the Group. 

## <Employee Training and Evaluation> 

With the aim of creating a professional cadre and in turn becoming Japan’s most impressive securities firm, the Group provides employees with the basic skills necessary to do their jobs effectively and conducts a variety of training programs that promote employee excellence. The training programs include those related to the Group’s principles and CSR policies. 

For example, the Group is working on improving the communi- cation skills of employees to further our globalization efforts and support the Group’s strategic emphasis on business in Asia. 

Furthermore, the Group places core qualifications for financial service business on its financial planners and analysts. It is the goal of Daiwa Securities to have every employee obtain either certification and to lead the industry in terms of the total number of employees with Certified Financial Planner (CFP) certification. 

## <Employee Evaluation System> 

A fair, transparent and agreeable system of employee evaluation is a key factor in ensuring that employees remain highly motivated. The Group employs a multifaceted evaluation system for all management-level personnel that involves evaluations by direct subordinates and from relevant departments. The Group strives to ensure that its evaluation structure is not influenced by factors like seniority, so that employees of all age levels and career ranks will strive equally to earn promotions and expanded responsibilities. 

## Female Employees and Managers at the Daiwa Securities Group 

## <Promoting a “Work-life Balance”> 

In order to attract top-quality personnel and motivate them to high levels of achievement, the Group has adopted numerous policies aimed at promoting a healthy balance between work and personal life. These efforts to promote a “work-life balance” aim to create a favorable working environment for all employees, regardless of gender. The Group has not only adopted flexible policies to accom- modate various work patterns; it also promotes effective time man- agement, encourages employees to use all of their allocated days for annual leave, and welcomes office visits by family members. In addition, the “Daiwa WLB Station” section of the Group’s internal website has received a substantial increase in traffic since it was updated in February 2012. 

## <Encouraging Women to Succeed> 

The Group has experienced a dramatic increase in the number of women who have applied for career-track and regional career-track positions, hoping to promote their career ambitions. Over the past three years—from fiscal 2009 through 2011—more than 659 women have transferred to such positions. The Group would also like to expand the number of women in management positions. To this end, internal publications have featured numerous articles on individuals who can be positive role models for female employees. These and other measures help to motivate women employees and communicate an inspirational message throughout the Group. By continuing to expand the ranks of women in top management positions, we hope to cultivate future female leaders for the Japa- nese financial industry. 

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Note: Ratios are on the basis of the consolidated Group. 

