April 26th Nomura Holdings announced on the 26th that its consolidated net income (US GAAP) for the January-March period of 2024 was 56.8 billion yen, an increase of 12% compared to the same period last year. The photo shows the Nomura Holdings logo, taken in December 2015 in Tokyo (2024 Reuters/Toru Hanai)
In the retail sector, stock income, which is stable income, reached a record high due to favorable stock market conditions and the launch of the new NISA (Small Investment Tax Exemption System). The company made a large-scale reassignment of personnel and launched a new system to strengthen face-to-face sales to wealthy customers, but the company “got back on track faster than expected,” said CFO Kitamura.
In the wholesale division, Global Markets’ sales increased in all regions compared to the previous quarter. Investment banking also posted its highest quarterly profit since the comparable fiscal year ended March 2017.
The investment management division posted its highest quarterly operating revenue since its inception in April 2021. The balance of assets under management was 89 trillion yen, a record high for five consecutive quarters. In the January-March period, approximately 1.1 trillion yen of funds inflowed. CFO Kitamura stated that the balance of assets under management will further expand, and expressed the recognition that demand will grow as a source of funds as people shift from savings to investment.
Consolidated net income for the fiscal year ending March 2024 was 165.9 billion yen, an increase of 79% from the previous year. CFO Kitamura commented, “Profitability recovered in the second half of the year.It was a year in which our efforts bore fruit in numbers.”
In the foreign exchange market, the yen’s depreciation is accelerating, with the dollar at one point rising to around 156 yen in trading on the evening of the 26th. Regarding the weaker yen, CFO Kitamura said, “We need to continue to pay close attention to the extent to which it is reflected in prices and what kind of impact it will have on individual purchasing power and the Japanese economy.” Regarding current exchange rate trends, he said that they had gone too far in the short term, but expressed the view that in the long term, the yen’s depreciation would be corrected as the difference in interest rates between Japan and the United States narrowed.
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Tags: Nomura HDs net income JanuaryMarch period times higher previous year performance expanding divisions Reuters
