Nomura Q3 Results Show Growth in Times of a General Market Decline

Key data points, including net revenue and net income, post positive progression.

Nomura Holdings, Inc. released its financial results for Q3 FY 2017/2018, and the numbers indicate improvements across the board. Net revenue during the quarter was 406.6 billion yen ($3.6 billion), posting an increase of 16% from Q2 results of roughly 351.5 billion yen. The figures also show a rise of 10% relative to Q3 of last year, when net revenue was 368.6 billion yen.

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Illustrating a similar positive trend, income before income taxes reached 120.8 billion yen, an increase of 45% from Q2 figures of 83.0 billion yen, and just under 26% YoY, climbing from 95.9 billion yen. Net income for Q3 ending December 31, 2017 was reported at 88.0 billion yen, an increase of 70.0% QoQ, and 25.0% YoY.

The Japanese financial giant similarly posted positive data for the nine months ending December 31, 2017. Net revenue for the first 3 quarters of the current fiscal year has reached 1.12 trillion yen (roughly $9.9 billion), improving by 6% YoY. Moreover, net income attributable to Nomura Holdings shareholders posted a YoY rise of 10%, to reach 196.7 billion yen (approximately $1.7 billion).

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Japanese market in decline

Koji Nagai, Nomura’s Chief Executive Officer, commented on the quarterly data release: “Pretax income from our three core businesses increased quarter on quarter, supported by the global market rally. Non-business segment income helped push Group pretax income higher on both a quarter-on-quarter and year-on-year basis.”

Nomura’s Q3 results are clearly illustrating the company’s dynamic efforts to maintain its profitability agenda, despite recent trends in Japan that show the FX market taking a step back due to increased demand for cryptocurrencies. In an interview with Reuters in late December, Nagai discussed the company’s preparedness to launch a retail brokerage in China, as it attempts to increase its market share in the region and across the globe.

Nomura continue to demonstrate versatility, despite various challenges facing the industry. These challenges caused a small stagnation in the company’s numbers during Q2, but the Q3 data shows that it has successfully overcome some of these hurdles to post far better figures.

Japan’s largest investment bank is a pillar of stability among the country’s financial institutions. Over the past year, Nomura has led a hiring spree of senior executives in its US business units. The moves can be linked to the company’s attempts to gain greater traction in the US market, which is responsible for producing more than 50% of total investment bank fee revenues across the globe.

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