Nomura to Rename Its Retail Division to Wealth Management Division

Nomura Holdings, Inc. (Nomura Holdings), today (November 29) announced plans to rename its Retail Division as Wealth Management Division, effective April 1, 2024.

According to the company, the Retail Division has been working to overhaul its business model, restructuring the organization and product strategy to further help clients manage their assets. This has significantly transformed the division's revenue structure and led to solid results. The division's name was changed to reflect this transformation of the business model.

Nomura Holdings is a Japanese financial holding company and a principal member of the Nomura Group. At the end of last month, the firm published its financial results for the six months ended September 30, 2023 (H1 FY23/24)​, showing an overall surge across key metrics during the period with a total revenue of JPY 1,960.1 billion (up 102.0% YoY) and net revenue of JPY 716.7 billion (up 16.2% YoY).