Daiwa Securities Group Inc., together with its subsidiaries, operates in the financial and capital markets in Japan and internationally. It operates through four segments: Wealth Management (WM), Asset Management (AM), Global Markets & Investment Banking, and Other. The Wealth Management segment includes wrap fees and investment trust administration fees, as well as product sales commissions related to the management of assets for individual investors and unlisted companies. The Asset Management segment offers securities asset management, real estate asset management, and alternative asset management services. The Global Markets & Investment Banking segment comprises of global markets (GM), which conducts sales and trading of securities targeted at institutional investors, etc., and global investment banking (GIB), which conducts underwriting of securities issued by industrial corporations and financial corporations, etc., and merger and acquisition advisory services. The Other segment includes research, consulting, and system services. The company was formerly known as Daiwa Securities Co. Ltd. and changed its name to Daiwa Securities Group Inc. in 1999. Daiwa Securities Group Inc. was founded in 1902 and is headquartered in Tokyo, Japan.