Nomura's net revenue jumped 16.8% to 431.3b yen
Its retail business showed impressive results.
In a release, Nomura Holdings, Inc. today announced its consolidated financial results for the first quarter of the fiscal year ending March 31, 2014.
Net revenue in the first quarter was up 16.8% to 431.3 billion yen (US$4.3 billion), income before income taxes was 113.2 billion yen (US$1.1 billion), and net income attributable to Nomura Holdings shareholders was 65.9 billion yen (US$664 million).
“We had a solid first quarter with firm-wide revenues and income up year on year and pretax income from our three core business segments at the highest level in six years,” said Koji Nagai, Group Chief Executive Officer.
“Our Retail business performed better than the strong prior quarter, reporting a marked increase in sales of investment trusts and equities on the back of the market rally in Japan in April and May.
Asset Management booked higher revenues and pretax income as assets under management continued to grow. In spite of the volatile market conditions, Wholesale revenues were broadly in line with the previous quarter as Equities and Investment Banking reported significant revenue gains driven by Japan-related businesses.
“We continue to lower our cost base and build up a stable earnings platform to contribute to economic growth by providing high value-added solutions as Asia’s global investment bank.”
