Nomura Registers 393.7Bn Yen Net Revenue for Q3 FY23, Up 12% YoY

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

Net revenue for the third quarter was 393.7 billion yen (US$3.0 billion) , up 24 percent quarter on quarter and 12 percent year on year. Income before income taxes increased 165 percent from last quarter and 4 percent compared to the third quarter last year to 83.6 billion yen (US$634 million). Net income attributable to Nomura Holdings shareholders was 66.9 billion yen (US$508 million), up 4.0 times quarter on quarter and 11 percent year on year.

For the nine months to December, Nomura reported net revenue of 1,010.6 billion yen (US$7.7 billion), down 1 percent from the same period last year. Income before income taxes decreased 28 percent to 126.8 billion yen (US$962 million), and net income attributable to Nomura Holdings shareholders was 85.4 billion yen (US$648 million), down 24 percent.

"Pretax income from our three core businesses increased 43 percent quarter on quarter to 44.7 billion yen," said Kentaro Okuda, Nomura President and Group CEO.

"Retail reported a strong rebound in flow revenue as we provided clients with detailed consulting services to adapt to the changing market environment. Although recurring revenue was largely unchanged from last quarter, our recurring revenue cost coverage ratio remained at the 50 percent level reflecting our continued focus on disciplined cost control."

Retail reported net revenue of 81.0 billion yen, increasing 12 percent quarter on quarter and down 7 percent from the same period last year. Income before income taxes was 13.3 billion yen, up 142 percent quarter on quarter and down 26 percent year on year.

Investment Management net revenue was 57.0 billion yen, up 118 percent quarter on quarter and 42 percent year on year. Income before income taxes was 33.3 billion yen, 6.0 times higher than the previous quarter and up 64 percent from the same period last year.

Wholesale booked net revenue of 189.1 billion yen, decreasing 8 percent quarter on quarter and 7 percent year on year. Loss before income taxes was 1.9 billion yen.