Nomura's income jumped 179% to US$1.8b

All three businesses remain robust.

In a release, Nomura Holdings, Inc. announced its consolidated financial results for the fourth quarter and full year ended March 2013. Net revenue for the fourth quarter was 653.6 billion yen (US$6.9 billion), a 68 percent increaseon the previous quarter and 31 percent higher than the same quarter last year. 

Income before  income taxes was 169.7 billion yen (US$1.8 billion), up 13.1 times quarter on quarter and 179 percent year on year. Net income attributable to Nomura Holdings shareholders was 82.4 billion yen (US$875 million), an increase of 4.1 times over the third quarter and 3.7 times compared to the fourth quarter last year. 

For the full year period, Nomura reported net revenue of 1.8 trillion yen (US$19.3 billion), income before income taxes of 237.7 billion yen (US$2.5 billion), and net income attributable to Nomura Holdings shareholders of 107.2 billion yen (US$1.1 billion).

“We finished the year strongly with all three business divisions profitable in the fourth quarter. Group-wide pretax income and net income were at their highest levels since the quarter ended March 2006,” said Koji Nagai, Nomura’s Group CEO.

“Pretax and net income also jumped on a full year basis, driven higher by stronger revenues in the second half of the year, progress in cost cutting efforts, and a reduction in risk assets.

“Retail reported significantly higher revenues as our consulting-based sales approach helped grow both client assets and total sales. Asset Management expanded its product offering and delivered stable earnings. In Wholesale, Fixed Income remained the key revenue driver and the improved environment in Japan contributed to revenue growth.

“Looking ahead, we will maintain our focus on reducing costs and delivering stable earnings. By putting our clients at the center of everything we do, we aim to provide high value-added solutions and contribute to economic growth as Asia’s global investment bank.”