Daiwa Securities Drafts Biggest Bonus Pool in Three Years

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Daiwa Securities has boosted the bonus pool for its investment bankers and staff to the most in three years after posting its highest profit since 2006.

Bloomberg reports that Daiwa increased funds set aside for June payouts by 83% to $226m, according to the Tokyo-based company’s statement . Fourth-quarter net income more than quadrupled to $501.9m.

Chief Executive Officer Takashi Hibino, 57, is increasing the bonus pool even as he implements a program to eliminate $719.9m of expenses by March 2015.

Daiwa pays bonuses to employees twice a year in Japan (once a year in Europe, typically in May).

'We set aside an appropriate amount after talking with auditors', Daiwa Chief Financial Officer Mikita Komatsu said in a press briefing in Tokyo. The firm will decide on the final amount after talks with its employees’ labor union, he said.

Hit the link below to access the complete Bloomberg article:

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