Tokyo-basedNomura Holdings, Inc. disclosed today (Tuesday) its robust consolidatedfinancial results for the first quarter of the fiscal year ending 31 March2024. Displaying solid quarterly growth, the company cites its strategicinitiatives and revenue diversification progress as key driving factors behindthis performance.
Nomura Net Revenue Jumps29% YoY
The firstquarter yielded positive results for Nomura Holdings, with net revenue reachingJPY 348.9 billion ($2.4 billion) and pre-tax income at JPY 46.3 billion (S$320million). Meanwhile, net income attributable to Nomura shareholders amounted toJPY 23.3 billion ($161 million), growing 29% year-over-year (YoY).
"Firstquarter net revenue was 348.9 billion yen and pre-tax income was 46.3 billionyen, both representing quarter-on-quarter increases underpinned by positiveresults from our strategic initiatives and revenue diversification progress,"Kentaro Okuda, the President at Nomura, commented.
This is asignificant improvement after full-year 2022 results published in April, whenNomura reported a 35% decline in net profit. At the time, it cited unfavorablemarket volatility and geopolitical risks, which also affected the financialresults of other companies operating in global finance.
Thecompany's Retail segment reported net revenue of JPY 92.1 billion, asignificant increase both quarter-on-quarter (QoQ) and YoY. This outcome waslargely due to stronger sales across all products and services due to reorganizingthe company's teams. The reorganization also increased recurring revenueassets, reaching a record high of 20.3 trillion yen.
Simultaneously,Nomura's Investment Management division experienced an increase in stablerevenues, and significant inflows brought the division's AuM to an impressive76.1 trillion yen, marking a record high. While the investment gain/lossworsened due to the valuation markdown related to investment in AmericanCentury Investments (ACI), the asset management business overall showed growth,thanks to new mandates in Japan and international inflows into ETFs.
However, despitea slight YoY drop, the Wholesale division witnessed a rebound in performancecompared to the previous quarter. Net revenue rose by 7% QoQ to JPY 190.9billion, but pre-tax income fell 92% YoY to JPY 2.1 billion. Despite this, thesegment showed growth in Credit globally, and improved performances in AmericasRates and Japan Equities. In addition, Advisory revenues in EMEA and theAmericas bolstered the segment's revenues.
Summarizingthe company's overall strategic direction, Okuda added, "We remaincommitted to meeting the diverse needs of our clients and deliveringsustainable growth."
Nomura's New Hires
Recently,Nomura announced a series of new additions to their team. This includes NatashaUberoi, appointed as the Head of eFX Sales for the Americas. Prior to this, shespent approximately seven years working with the FX Sales team at EBSBrokerTec, according to her LinkedIn profile.
Simultaneously,an experienced forex sales executive, Kevin Gillespie, has assumed a freshposition at Nomura's digital asset branch, Laser Digital. Nomura inauguratedLaser Digital in Switzerland in September of the previous year, with thesubsidiary specializing in secondary trading, venture capital, and investorproducts.
In afurther development, the leading investment bank and brokerage group enlistedNat Tyce, an expert from Barclays, in June to spearhead its trading division inEurope, the Middle East, and Africa (EMEA). A memo viewed by Financial Newsrevealed that Tyce would fulfill the Head of Global Markets role for EMEA.
Tokyo-basedNomura Holdings, Inc. disclosed today (Tuesday) its robust consolidatedfinancial results for the first quarter of the fiscal year ending 31 March2024. Displaying solid quarterly growth, the company cites its strategicinitiatives and revenue diversification progress as key driving factors behindthis performance.
Nomura Net Revenue Jumps29% YoY
The firstquarter yielded positive results for Nomura Holdings, with net revenue reachingJPY 348.9 billion ($2.4 billion) and pre-tax income at JPY 46.3 billion (S$320million). Meanwhile, net income attributable to Nomura shareholders amounted toJPY 23.3 billion ($161 million), growing 29% year-over-year (YoY).
"Firstquarter net revenue was 348.9 billion yen and pre-tax income was 46.3 billionyen, both representing quarter-on-quarter increases underpinned by positiveresults from our strategic initiatives and revenue diversification progress,"Kentaro Okuda, the President at Nomura, commented.
This is asignificant improvement after full-year 2022 results published in April, whenNomura reported a 35% decline in net profit. At the time, it cited unfavorablemarket volatility and geopolitical risks, which also affected the financialresults of other companies operating in global finance.
Thecompany's Retail segment reported net revenue of JPY 92.1 billion, asignificant increase both quarter-on-quarter (QoQ) and YoY. This outcome waslargely due to stronger sales across all products and services due to reorganizingthe company's teams. The reorganization also increased recurring revenueassets, reaching a record high of 20.3 trillion yen.
Simultaneously,Nomura's Investment Management division experienced an increase in stablerevenues, and significant inflows brought the division's AuM to an impressive76.1 trillion yen, marking a record high. While the investment gain/lossworsened due to the valuation markdown related to investment in AmericanCentury Investments (ACI), the asset management business overall showed growth,thanks to new mandates in Japan and international inflows into ETFs.
However, despitea slight YoY drop, the Wholesale division witnessed a rebound in performancecompared to the previous quarter. Net revenue rose by 7% QoQ to JPY 190.9billion, but pre-tax income fell 92% YoY to JPY 2.1 billion. Despite this, thesegment showed growth in Credit globally, and improved performances in AmericasRates and Japan Equities. In addition, Advisory revenues in EMEA and theAmericas bolstered the segment's revenues.
Summarizingthe company's overall strategic direction, Okuda added, "We remaincommitted to meeting the diverse needs of our clients and deliveringsustainable growth."
Nomura's New Hires
Recently,Nomura announced a series of new additions to their team. This includes NatashaUberoi, appointed as the Head of eFX Sales for the Americas. Prior to this, shespent approximately seven years working with the FX Sales team at EBSBrokerTec, according to her LinkedIn profile.
ADVERTIsem*nT
Simultaneously,an experienced forex sales executive, Kevin Gillespie, has assumed a freshposition at Nomura's digital asset branch, Laser Digital. Nomura inauguratedLaser Digital in Switzerland in September of the previous year, with thesubsidiary specializing in secondary trading, venture capital, and investorproducts.
In afurther development, the leading investment bank and brokerage group enlistedNat Tyce, an expert from Barclays, in June to spearhead its trading division inEurope, the Middle East, and Africa (EMEA). A memo viewed by Financial Newsrevealed that Tyce would fulfill the Head of Global Markets role for EMEA.
