DBS-Daiwa Securities International Ltd is first established in Singapore with Daiwa Securities Co. Ltd. in Japan having ownership of 40%.

The Company was renamed Daiwa Singapore Ltd.
with Daiwa Securities Co.Ltd. becoming the sole shareholder of the Company.

The Company was renamed Daiwa Securities SB Capital Markets Singapore Limited, and operated as the new joint venture between Daiwa Securities Group Inc. and Sumitomo Banking Corporation.

Daiwa Securities SB Capital Markets Singapore Limited changed its name to Daiwa Securities SMBC Singapore Limited, following the merger between Sumitomo Banking Corporation and Sakura Bank Limited. The ultimate parent company, Daiwa Securities SMBC Co. Ltd. being a joint venture owned 60% by Daiwa Securities Group Inc. and 40% by the Sumitomo Mitsui Financial Group, Inc.

Daiwa Securities Group Inc. and the Sumitomo Mitsui Financial Group, Inc. (“SMFG”) announced to end the joint venture agreement with regard to Daiwa Securities SMBC Co. Ltd. on September 10, 2009.
Daiwa Securities Group acquired all shares of Daiwa Securities SMBC Co. Ltd. held by the SMFG group on December 31, 2009. As a result, all shares of Daiwa Securities SMBC Co. Ltd. were held by Daiwa Securities Group.

Daiwa Securities SMBC Singapore Limited was renamed Daiwa Capital Markets Singapore Limited with effect from 1st January, 2010 and will continue to operate as an award winning investment bank that targets “sustained growth based on customer trust,” utilizing the strong group network.

Daiwa Securities Co. Ltd. merged with Daiwa Securities Capital Markets Co. Ltd.