Nomura Reports Strong Q1 Earnings with Record Performance Across Divisions
Nomura Holdings (NMR) reported strong first-quarter earnings for fiscal year 2027, achieving its highest return on equity since the second quarter of 2020. The company saw significant growth across multiple divisions, including a record pre-tax income in Wholesale and increased recurring revenue from Wealth Management due to structural reforms. Investment Banking also delivered an all-time high first-quarter performance despite a slight decline compared to the previous quarter. The firm's asset management division reached new highs for assets under management (AUM), supported by favorable market conditions, although it experienced net outflows primarily in Japanese equity ETFs. Nomura launched a deposit sweep service that contributed to increased banking revenue and improved client integration across its wealth and investment services. CFO Hiroyuki Moriuchi noted potential challenges ahead due to expected market volatility from U.S. midterm elections and monetary policy shifts. Despite some slowing trends in wholesale net revenue, the company remains on track toward achieving its 2030 management vision targets of a ROE between 10%–12% or higher and pre-tax income exceeding JPY 750 billion.
