Nomura registers 16% Y/Y growth in revenues in Q2 FY24
Nomura Holdings, Inc. today announced its consolidated financial results for the second quarter and first half of the fiscal year ending March 31, 2024.
Net revenue in the second quarter was 367.8 billion yen (US$2.5 billion), up 5% quarter on quarter and 16 percent year on year.
Income before income taxes increased 23 percent from last quarter and 80 percent compared to the second quarter last year to 56.7 billion yen (US$379 million). Net income attributable to Nomura Holdings shareholders was 35.2 billion yen (US$236 million), up 51 percent quarter on quarter and 110 percent year on year.
For the six months to September, Nomura reported net revenue of 716.7 billion yen (US$4.8 billion), up 16 percent from the same period last year. Income before income taxes increased 138 percent to 103 billion yen (US$689 million), and net income attributable to Nomura Holdings shareholders was 58.6 billion yen (US$392 million), jumping 3.2 times from the same period last year.
“Three segment pretax income increased 79 percent year on year to 89.2 billion yen in the first half. In the second quarter, we reported higher net revenue and pretax income across all business segments as our strategic initiatives continued to deliver results,” said Kentaro Okuda, Nomura President and Group CEO.
“Retail reported a strong rebound in performance from last year. Flow revenues grew and recurring revenue reached a record high, reflecting a strategic increase in staff in the high net worth space in April.
Investment Management booked its strongest business revenue since the division was formed. Assets under management reached a new high driven by continued net inflows into the investment trust, investment advisory and international businesses.
While Wholesale booked stronger net revenue in Investment Banking and Equities, overall divisional performance declined on the back of a slowdown in international Fixed Income. We will continue to focus on our areas of competitive strength globally to enhance revenues and maintain disciplined cost control to improve our cost-income ratio”.