Nomura Holdings Reports Decline in Quarterly Revenue and Net Income Amid Market Moderation
Nomura Holdings reported a decline in second-quarter financial performance, with net revenue falling 12% to JPY 607.5 billion and net income dropping 29% quarter-over-quarter to JPY 103.7 billion. The downturn was primarily driven by lower transaction volumes and reduced activity in the Wholesale division due to geopolitical risks and high interest rates. Despite these headwinds, the company's wealth management segment showed significant strength, achieving record recurring revenue of JPY 66.7 billion and a 40% increase in net inflows of recurring revenue assets. This indicates a successful strategic shift toward a more stable, fee-based business model. Return on equity remained healthy at 10.9%, meeting the company's target range.
Tickers: $NMR
Topics: Earnings Per Share Investment Management Net Income Net Revenue Wealth Management Wholesale Banking
Read the full article at Motley Fool
Part of the story Nomura Holdings Reports Decline in Quarterly Revenue and Net Income Amid Market Moderation (2 articles)