Nomura Reports Record-Breaking Quarter: Assets and Retail Trading Soar

<p>Tokyo-based
Nomura Holdings, Inc. disclosed today (Tuesday) its robust consolidated
financial results for the first quarter of the fiscal year ending 31 March
2024. Displaying solid quarterly growth, the company cites its strategic
initiatives and revenue diversification progress as key driving factors behind
this performance.</p><p>Nomura Net Revenue Jumps
29% YoY</p><p>The first
quarter yielded positive results for Nomura Holdings, with net revenue reaching
JPY 348.9 billion ($2.4 billion) and pre-tax income at JPY 46.3 billion (S$320
million). Meanwhile, net income attributable to Nomura shareholders amounted to
JPY 23.3 billion ($161 million), growing 29% year-over-year (YoY).</p><p>"First
quarter net revenue was 348.9 billion yen and pre-tax income was 46.3 billion
yen, both representing quarter-on-quarter increases underpinned by positive
results from our strategic initiatives and revenue diversification progress,"
Kentaro Okuda, the President at Nomura, commented.</p><p>This is a
significant improvement after <a href="https://www.financemagnates.com/institutional-forex/japans-nomura-shows-35-decrease-in-2022-income/" target="_blank" rel="follow">full-year 2022 results published in April</a>, when
Nomura reported a 35% decline in net profit. At the time, it cited unfavorable
market <a href="https://www.financemagnates.com/terms/v/volatility/">volatility</a> and geopolitical risks, which also affected the financial
results of other companies operating in global finance.</p><p>The
company's Retail segment reported net revenue of JPY 92.1 billion, a
significant increase both quarter-on-quarter (QoQ) and YoY. This outcome was
largely due to stronger sales across all products and services due to reorganizing
the company's teams. The reorganization also increased recurring revenue
assets, reaching a record high of 20.3 trillion yen.</p><p>Simultaneously,
Nomura's Investment Management division experienced an increase in stable
revenues, and significant inflows brought the division's AuM to an impressive
76.1 trillion yen, marking a record high. While the investment gain/loss
worsened due to the valuation markdown related to investment in American
Century Investments (ACI), the asset management business overall showed growth,
thanks to new mandates in Japan and international inflows into ETFs.</p><p>However, despite
a slight YoY drop, the Wholesale division witnessed a rebound in performance
compared to the previous quarter. Net revenue rose by 7% QoQ to JPY 190.9
billion, but pre-tax income fell 92% YoY to JPY 2.1 billion. Despite this, the
segment showed growth in Credit globally, and improved performances in Americas
Rates and Japan Equities. In addition, Advisory revenues in EMEA and the
Americas bolstered the segment's revenues.</p><p>Summarizing
the company's overall strategic direction, Okuda added, "We remain
committed to meeting the diverse needs of our clients and delivering
sustainable growth." </p><p>Nomura's New Hires</p><p>Recently,
Nomura announced a series of new additions to their team. <a href="https://www.financemagnates.com/forex/news-nuggets-25-july-volumes-on-etoro-charts-nomuras-new-efx-head/" target="_blank" rel="follow">This includes Natasha
Uberoi</a>, appointed as the Head of eFX Sales for the Americas. Prior to this, she
spent approximately seven years working with the FX Sales team at EBS
BrokerTec, according to her LinkedIn profile.</p><p>Simultaneously,
an experienced <a href="https://www.financemagnates.com/terms/f/forex/">forex</a> sales executive, <a href="https://www.financemagnates.com/executives/fx-sales-veteran-kevin-gillespie-joins-nomuras-laser-digital/" target="_blank" rel="follow">Kevin Gillespie</a>, has assumed a fresh
position at Nomura's digital asset branch, Laser Digital. Nomura inaugurated
Laser Digital in Switzerland in September of the previous year, with the
subsidiary specializing in secondary trading, venture capital, and investor
products.</p><p>In a
further development, the leading investment bank and brokerage group enlisted
<a href="https://www.financemagnates.com/forex/news-nuggets-26-june-nomuras-new-exec-toolkit-for-responsible-use-of-ai/" target="_blank" rel="follow">Nat Tyce</a>, an expert from Barclays, in June to spearhead its trading division in
Europe, the Middle East, and Africa (EMEA). A memo viewed by Financial News
revealed that Tyce would fulfill the Head of Global Markets role for EMEA.</p>

This article was written by Damian Chmiel at www.financemagnates.com.