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Asiamoney anniversary interview: Shin Yoshidome

Date: 28 Jul 2009

As part of a series of interviews to celebrate Asiamoney’s 20th anniversary, the CEO of Daiwa Securities SMBC says he regrets that it cut its Asian operations, but is eager to rectify this, particularly by expanding in China and India.

Keywords (click to search): [Daiwa Securities SMBC] [Shin Yoshidome] [CEO] [interview]

Richard Morrow

Asiamoney [AM]: Please describe Daiwa’s strategy and reach in Asia as of 1989. How do those compare to 2009? What percentage of total revenues and profits did Asia represent in 1989 and how does that compare to now? And what would you predict those percentages will be in 2029?

Shin Yoshidome, chief executive, Daiwa Securities SMBC [SY]: Daiwa was very aggressively engaged in expanding into international business compared with the other large Japanese securities houses. Daiwa’s international division received a lot of appreciation in the industry as a result.

In 1989, we were expanding our equity sales and underwriting business for Asian corporations in Asia. This was largely a reflection of the bullish Japanese stock market.

At that time, our overseas subsidiaries acquired membership of local stock exchanges with the intention of expanding our overseas business. Various subsidiaries of ours joined the Makati exchange in the Philippines in...

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