S&P Global Offerings
Featured Topics
Featured Products
Events
S&P Global Offerings
Featured Topics
Featured Products
Events
S&P Global Offerings
Featured Topics
Featured Products
Events
Banking & Capital Markets
Economy & Finance
Energy Transition & Sustainability
Technology & Innovation
Podcasts & Newsletters
Banking & Capital Markets
Economy & Finance
Energy Transition & Sustainability
Technology & Innovation
Podcasts & Newsletters
S&P Global Offerings
Featured Topics
Featured Products
Events
25 Apr, 2025
By Yuzo Yamaguchi
Nomura Holdings Inc. posted a 27% year-over-year gain in net profit for the January-to-March quarter, driven primarily by its wholesale business.
Net income in the fiscal fourth quarter was ¥72 billion, compared with ¥56.8 billion in the previous year, Japan's biggest investment bank reported on April 25. Net income was down 29% quarter on quarter, setting the stage for a cautious outlook amid volatility in the global markets triggered by US tariff uncertainty.
"The market outlook is now uncertain, putting investors on the sidelines," Takumi Kitamura, Nomura's CFO, said at a post-earnings online conference.
Nomura's wholesale business posted an 82% surge in pretax profit from a year earlier to ¥37.5 billion in the quarter, while the pretax profit from investment management fell by 13% to ¥15.5 billion, and from wealth management declined 4% to ¥37 billion.
The full-year pretax profit from the wholesale business reached a 15-year high, reflecting higher revenues in all business lines and regions and prudent cost controls, Nomura said.
Nomura plans to shore up assets under management in its investment management operations to secure stable fee-based revenue, shifting away from volatile brokerage operations. Nomura announced on April 22 that it will acquire Macquarie's US and European public asset management operations, including US-based Macquarie Management Holdings, for $1.8 billion. It expects the deal to close by the end of the year.
"We will continue to intensify our global strategy, leveraging our Japan franchise and drive transformation to expand stable revenue to consistently improve ROE [return on equity] and enhance our corporate value," Kentaro Okuda, Nomura Holdings' CEO, said in the earnings statement.
Nomura reduced staff costs by 9.7% from a year earlier to ¥172.3 billion in the fourth quarter.
Nomura plans to buy back up to 100 million shares for up to ¥60 billion, starting from May 15 to Dec. 30, the statement said.