Nomura Reports Second Quarter Financial Results
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Three segment pretax income of Y31.2bn, up 69% QoQ, on improvement in Investment Management investment gain/loss
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Retail recurring revenue higher QoQ, although flow revenues slowed as investors remained on sidelines; Recurring
revenue cost coverage ratio at 51% on successful cost controls |
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Strong QoQ rebound in Investment Management performance driven by inflows into investment trust and investment
advisory businesses; Alternative AuM topped Y1.2trn |
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Wholesale performance stronger QoQ, underpinned by robust Fixed Income performance driven by Macro Products and
higher Investment Banking revenues |
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First-half ROE of 1.2% and dividend of 5 yen per share |
Tokyo, November 2, 2022Nomura Holdings, Inc. today announced its consolidated financial results for the second quarter and
first half of the fiscal year ending March 31, 2023.
Net revenue in the second quarter was 318.0 billion yen (US$2.2 billion)1, up 6 percent quarter on quarter and down 0.3 percent year on year. Income before income taxes jumped 2.7 times from last quarter and increased 70 percent compared to the second
quarter last year to 31.5 billion yen (US$218 million). Net income attributable to Nomura Holdings shareholders was 16.8 billion yen (US$116 million), up 9.9 times quarter on quarter and 5.2 times year on year.
For the six months to September, Nomura reported net revenue of 617.0 billion yen (US$4.3 billion), down 8 percent from the same period last year.
Income before income taxes decreased 55 percent to 43.2 billion yen (US$299 million), and net income attributable to Nomura Holdings shareholders was 18.5 billion yen (US$128 million), down 64 percent.
First-half pretax income from our three core businesses was 49.7 billion yen, said Kentaro Okuda, Nomura President and Group CEO.
Our Wholesale business reported higher revenues from the previous year. In Global Markets, Fixed Income delivered stronger revenues amid market
volatility. In Investment Banking, revenues from our Advisory business grew from the previous year on the back of multiple cross-border mandates and sustainability-related deals, offsetting a slowdown primarily in our ECM business.
Investment Management booked solid business revenue mainly underpinned by continued inflows into the investment trust business. Strategic business
initiatives in our private business showed continued momentum, helping lift alternative assets under management to over 1.2 trillion yen.
In
Retail, while flow revenues slowed as investors stayed in wait and see mode, recurring revenue continued to grow. Our recurring revenue cost coverage ratio reached a record 51 percent, reflecting successful efforts to control costs.
Amid the ongoing market uncertainty, we remain committed to meeting the diversified needs of our clients and delivering sustainable growth.
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US dollar amounts are included solely for the convenience of the reader and have been translated at the rate
of 144.71 yen = 1 US dollar, the noon buying rate in New York for cable transfers in foreign currencies as certified for customs purposes by the Federal Reserve Bank of New York on September 30, 2022. This translation should not
be construed to imply that the yen amounts actually represent, or have been or could be converted into, equivalent amounts in US dollars. |