Daiwa Securities Posts Higher FQ4 Profit

Daiwa Securities Group DSEEY posted a rise in its net profit in the fiscal fourth quarter. Daiwa Securities' quarterly profit surged to Y48.8 billion ($501 million), from Y10.9 billion, in the year-ago period. Its revenue rose to Y172.84 billion from Y113.35 billion. Daiwa Securities shares closed at $8.89 yesterday.