Nomura Reports Net Revenue of Y400.2Bn for Q3 FY23/24, Approves New Share Buyback Program with Up to Y100Bn

Nomura Holdings, Inc. today announced its consolidated financial results for the third quarter of the fiscal year ending March 31, 2024, reporting its three core businesses (Retail, Investment Management, Wholesale) pretax income of 70.5 billion yen, up 16% quarter on quarter (QoQ).

Net revenue for the third quarter was 400.2 billion yen (US$2.8 billion), up 9% QoQ and 2% year on year (YoY).

Income before income taxes increased 39% from last quarter and decreased 6% compared to the third quarter last year to 78.7 billion yen (US$558 million). Net income attributable to Nomura Holdings shareholders was 50.5 billion yen (US$358 million), up 43% QoQ and down 24% YoY.

Retail reported net revenue of 102.6 billion yen for the period, increasing 4% QoQ and 27% from the same period last year. Income before income taxes of the segment was 31.9 billion yen, up 10% QoQ and 141% YoY.

Investment Management net revenue was 38.9 billion yen, down 14% QoQ and 32% YoY. Income before income taxes of the segment was 15.6 billion yen, down 33% from the previous quarter and 53% from the same period last year. Continued net inflows and market factors combined to lift assets under management in Investment Management to a new high of 78.5 trillion yen.

Wholesale booked net revenue of 217 billion yen, increasing 6% QoQ and 15% YoY. Income before income taxes was 23 billion yen, up 178% QoQ.

In addition, the Return On Equity (ROE) of the company stood at 6.2% in the quarter.

For the nine months to December, Nomura reported net revenue of 1,116.9 billion yen (US$7.9 billion), up 11% from the same period last year. Income before income taxes increased 43% to 181.8 billion yen (US$1.3 billion), and net income attributable to Nomura Holdings shareholders was 109.1 billion yen (US$774 million), up 28%.

The company today also approved a resolution to repurchase up to 100 billion yen of Nomura Holdings common shares.

According to the announcement, The share buyback program will run from February 16, 2024, to September 30, 2024 (excluding the ten business days following the announcement of quarterly financial results), and have an upper limit of 125 million shares of Nomura Holdings common stock, or 4.0 percent of outstanding shares. The upper limit of the aggregate amount of the repurchase price will be 100 billion yen, and the shares will be purchased on the stock exchange via a trust bank.

As of December 31, 2023, Nomura Holdings had 3,163,562,601 outstanding shares including 148,771,208 shares as treasury stock.