Nomura Holdings Adr Stock Earnings Reports

Nomura reported Q1 group net revenue of JPY523.3bn (up 16% QoQ) and income before taxes of JPY160.3bn (up 64% QoQ), with net income JPY104.6bn (up 45% QoQ). All four divisions, including the newly independent banking division, posted revenue and profit growth QoQ. Key drivers: wealth management saw recurring asset inflows for the 13th consecutive quarter and stronger flow revenues despite April market weakness; investment management hit record AUM of JPY94.3tn with net inflows into advisory/international channels while ETFs experienced large outflows; wholesale delivered solid global markets performance (notably rates and FX in Europe/Asia and strong US equity derivatives) though investment banking revenues normalized from a strong prior quarter but remained the highest Q1 since FY2016/17. Banking (new division) showed steady lending and trust revenues and completed a core system upgrade. One-off items: JPY56bn pre-tax gain from Nomura Properties fixed-asset sale and JPY6.6bn recorded in other expenses for compensation relating to phishing-driven illegal trades (reflected through restitution assumptions up to June 28). Group expenses rose modestly; CET1 was 13.2% at end-June (down from 14.5% due to higher RWAs tied to normal activity and the pending Macquarie US asset management acquisition), sitting within the disclosed 11–14% target range. Management emphasized focus on strategic investment versus shareholder returns (targeting >50% return when appropriate), active pipeline in M&A/advisory (especially in Japan), ongoing security upgrades (passkey biometric rollout planned), and that the Macquarie asset management acquisition filings are progressing smoothly toward a targeted close (originally year-end) with no critical issues identified.