Latest news with #DaiwaSecurities
Japan Times
3 days ago
- Business
- Japan Times
Daiwa pauses M&A hiring as tariff uncertainty chokes deal flow
Daiwa Securities boss Akihiko Ogino said the Japan brokerage won't be pushing to add staff working on mergers and acquisitions, providing a downbeat assessment on the impact to dealmaking from U.S. President Donald Trump's trade policy. "We had originally planned to steadily increase the headcount, but I have issued an instruction to hold it for a bit,' Ogino said in a recent interview. The assessment from Japan's second-largest brokerage indicates how changes in global trade policy are rippling through spending activity as finance firms around the world signal investment banking fees could decline amid the turbulence. "Typically, April and May aren't months when many deals come through, even in a normal year,' Ogino said. "But this year, it's been even harder for deals to emerge.' Daiwa has for years been recruiting dealmakers in regions such as the U.S. and Europe as part of its plan to enlarge the global M&A team to 900 bankers by March 2031. Both profit and revenue from the investment banking department reached a record high last financial year, a welcome development for Ogino and his predecessor Seiji Nakata who worked for years to strengthen merger advisory operations. "We have a lot of dry powder, so once things settle down, they may move very quickly,' Ogino said, in a reference to potential advisory deals in his firm's pipeline. The company could then resume the headcount expansion, he said. Daiwa is weighing overhauling its investment banking arm in China after losses at the Beijing-based subsidiary more than doubled last year to a record 134.7 million yuan ($18.7 million), Ogino said. "As for unprofitable divisions, I feel we need to consider scaling them down or right-sizing them to a more appropriate level,' he said. "We had high expectations for investment banking business in China but the results had fallen short of what we had anticipated.' Daiwa and its larger domestic competitor, Nomura, had entered Asia's biggest economy with high hopes, but ended up struggling with a slew of setbacks including those wrought by the U.S.-China trade tensions. Back in Japan, Ogino said the recent rout in government bonds with maturities longer than 10 years is causing a headache for his firm, making it more challenging to manage positions for its yen interest rates trading business. "We are having a hard time,' Ogino said, when asked how Daiwa's JGB trading business has done since April. He said the volatility experienced was likely because players including hedge funds are now in the market, and investors will gradually resume purchases of long-term debt "once things start to settle down.'
Bloomberg
4 days ago
- Business
- Bloomberg
Daiwa Pauses M&A Hiring as Tariff Uncertainty Chokes Deal Flow
By and Ryo Horiuchi Save Daiwa Securities Group Inc. boss Akihiko Ogino said the Japan brokerage won't be pushing to add staff working on mergers and acquisitions, providing a downbeat assessment on the impact to dealmaking from US President Donald Trump's trade policy. 'We had originally planned to steadily increase the headcount, but I have issued an instruction to hold it for a bit,' Ogino said in a recent interview.
Business Recorder
30-05-2025
- Business
- Business Recorder
Nikkei ends at two-week high on US tariff relief
TOKYO: Japan's Nikkei ended trade on Thursday at the highest point in more than two weeks after a US court blocked President Donald Trump's tariffs from going into effect, while a weaker yen and a rally in chip-related stocks also supported the benchmark index. The Nikkei climbed 1.88% to 38,432.98, its highest close since May 13. The broader Topix rose 1.53% to 2,812.02. The Manhattan-based Court of International Trade ruled that Trump overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy. 'The news was positive as Trump's tariff plans are a headwind for the corporate and economic outlook,' said Kentaro Hayashi, senior strategist at Daiwa Securities. 'And the yen weakened on the news, which drove a rally in the auto sector,' he said. The US dollar surged following the court decision, pushing the yen to fall as low as 146.26 against the greenback. A weaker yen boosts the value of overseas revenues. Chip-related shares jumped after Nvidia beat quarterly sales expectations, with Advantest and Tokyo Electron rising 5.35% and 4.25%, respectively.
Time of India
29-05-2025
- Automotive
- Time of India
Nikkei ends at two-week high on US tariff relief, chip rally
Japan's Nikkei ended trade on Thursday at the highest point in more than two weeks after a U.S. court blocked President Donald Trump 's tariffs from going into effect, while a weaker yen and a rally in chip-related stocks also supported the benchmark index. The Nikkei climbed 1.88% to 38,432.98, its highest close since May 13. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses India (Prices May Surprise You) Container House | Search ads Search Now Undo The broader Topix rose 1.53% to 2,812.02. The Manhattan-based Court of International Trade ruled that Trump overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy. "The news was positive as Trump's tariff plans are a headwind for the corporate and economic outlook," said Kentaro Hayashi, senior strategist at Daiwa Securities. Live Events "And the yen weakened on the news, which drove a rally in the auto sector," he said. The U.S. dollar surged following the court decision, pushing the yen to fall as low as 146.26 against the greenback. A weaker yen boosts the value of overseas revenues. Chip-related shares jumped after Nvidia beat quarterly sales expectations, with Advantest and Tokyo Electron rising 5.35% and 4.25%, respectively. Cable maker Fujikura, a gauge for AI investments, jumped 5.54%. It lifted the nonferrous metals sector by 5.8%, making it the top performer among the Tokyo Stock Exchange's 33 industry sub-indexes. Shares of Toyota Motor rose nearly 4%, helping lift the auto and auto parts sector by 3.39%. Hino Motors and Nissan Motor jumped nearly 6% each. On the other hand, toy maker Bandai Namco Holdings fell 2.96% to drag the Nikkei the most.
Business Times
29-05-2025
- Automotive
- Business Times
Nikkei ends at two-week high on US tariff relief, chip rally
[TOKYO] Japan's Nikkei ended trade on Thursday (May 29) at the highest point in more than two weeks after a US court blocked President Donald Trump's tariffs from going into effect, while a weaker yen and a rally in chip-related stocks also supported the benchmark index. The Nikkei climbed 1.88 per cent to 38,432.98, its highest close since May 13. The broader Topix rose 1.53 per cent to 2,812.02. The Manhattan-based Court of International Trade ruled that Trump overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy. 'The news was positive as Trump's tariff plans are a headwind for the corporate and economic outlook,' said Kentaro Hayashi, senior strategist at Daiwa Securities. 'And the yen weakened on the news, which drove a rally in the auto sector,' he said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The US dollar surged following the court decision, pushing the yen to fall as low as 146.26 against the greenback. A weaker yen boosts the value of overseas revenues. Chip-related shares jumped after Nvidia beat quarterly sales expectations, with Advantest and Tokyo Electron rising 5.35 per cent and 4.25 per cent, respectively. Cable maker Fujikura, a gauge for AI investments, jumped 5.54 per cent. It lifted the nonferrous metals sector by 5.8 per cent, making it the top performer among the Tokyo Stock Exchange's 33 industry sub-indexes. Shares of Toyota Motor rose nearly 4 per cent, helping lift the auto and auto parts sector by 3.39 per cent. Hino Motors and Nissan Motor jumped nearly 6 per cent each. On the other hand, toy maker Bandai Namco Holdings fell 2.96 per cent to drag the Nikkei the most. REUTERS
