Daiwa Securities Group’s profit rose last quarter, topping analyst expectations, driven by a boost to global markets trading.

Net income climbed 7.8% from a year earlier to ¥51.43 billion ($326 million) in the three months ended Sept. 30, the Tokyo-based company said Friday. That compared with the ¥47.7 billion average of analyst estimates compiled by Bloomberg.

The firm posted strong gains in fixed income trading in a quarter that saw global banks struggle with that business due to rising interest rates, while equity trading remained buoyant. Daiwa and larger rival Nomura Holdings are seeking stable income from Japanese households that are shifting savings into investments to protect their wealth from inflation.

“We are able to demonstrate strong performance,” Daiwa’s Chief Financial Officer Kotaro Yoshida said at a briefing in Tokyo.…