Daiwa Profit Beats Estimates on Equity Trading, Wealth Business

Daiwa Securities Group Inc.’s profit beat estimates last quarter, as Japan’s stock market boom bolstered its equity trading and wealth management businesses.

Net income totaled ¥46.5 billion ($300 million) in the fiscal third quarter ended Dec. 31, largely in line with results a year earlier, Japan’s second-largest brokerage said in a statement Monday. That exceeded the ¥39.1 billion average estimate of five analysts.