Nomura Posts $2.2 Billion Net Revenue During Q1 FY22

Nomura Holdings, Inc. today announced its consolidated financial results for the first quarter of the fiscal year ending March 31, 2023. 

Net revenue in the first quarter was 299.0 billion yen (US$2.2 billion), income before income taxes was 11.7 billion yen (US$86 million), and net income attributable to Nomura Holdings shareholders was 1.7 billion yen (US$13 million).

Retail reported net revenue of 71.4 billion yen, increasing 1 percent quarter on quarter and down 16 percent from the same period last year. Income before income taxes was 4.9 billion yen, down 5 percent quarter on quarter and 74 percent year on year.

Investment Management first quarter net revenue was 7.6 billion yen, down 25 percent quarter on quarter and 88 percent year on year. Loss before income taxes was 11.7 billion yen.

Wholesale booked net revenue of 199.0 billion yen, higher by 2 percent quarter on quarter and 50 percent year on year. Income before income taxes was 25.3 billion yen, decreasing 32 percent from last quarter.

"Although our overall group performance was impacted by an unrealized loss on securities holdings amid interest rate and market volatility, we saw the positive results of our strategic initiatives and revenue diversification progress in our core businesses,"said Nomura President and Group CEO Kentaro Okuda."In Wholesale, Global Markets reported higher Fixed Income revenues amid a spike in interest rate and FX volatility. In Investment Banking, Advisory revenues increased year on year as a result of multiple cross-border mandates and sustainability deals responding to the diversified needs of our clients."

"Investment Management booked continued inflows mainly from the investment trust business, contributing to solid business revenue in line with last quarter's performance. Alternative assets under management surpassed 1 trillion yen, driven by continued momentum in our strategic business initiatives."

"Although market uncertainty kept investors in wait and see mode, Retail reported growth in recurring revenue driven by discretionary investment contracts, level fees and loans, as we made steady progress in the shift towards asset consulting over the medium to long-term."