FCA, Intertrader, TrioMarkets and More: Executive Moves of the Week

Japan's Nomura Shows 11% Jump in Q3 Profit

by Damian Chmiel
  • The Japanese giant recorded robust numbers in the 3 months that ended in December.
  • The figures are a confirmation of the result achieved in the previous quarter.
Nomura
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Nomura, the global financial services group, has announced its latest financial results for the third quarter of the fiscal year ending 31 March 2023, showing a visible jump in quarterly and yearly income.

In the three-month period that ended December 2022, Nomura's revenues increased 24% quarter-over-quarter (QoQ) and 12% year-over-year (YoY).

Nomura Reports Strong End of 2022

According to the financial statement published on Wednesday, the overall net income attributable to Nomura Holdings shareholders came in at ¥66.9 billion ($508 million), growing fourfold QoQ and 11% compared to the same period a year earlier.

However, for the nine-month period from April to December 2021, Nomura's net revenue was modestly lower at ¥1,010.6 billion and the net income fell 24% YoY to ¥85.4 billion.

"Retail reported a strong rebound in flow revenue as we provided clients with detailed consulting services to adapt to the changing market environment. Although recurring revenue was largely unchanged from last quarter, our recurring revenue cost coverage ratio remained at the 50 percent level reflecting our continued focus on disciplined cost control," Kentaro Okuda, the President and CEO of Nomura Group, stated.

Nomura results

The Investment Management division saw a steady flow of funds into alternative assets and investment trusts in the past quarter. As a result, pre-tax income for the department was at its highest in 18 months. Additionally, revenue generated by Investment Banking grew, which was similar to Equities and Global Markets. Declines were recorded in Fixed Income and Wholesale Markets.

"As we navigate the changing market environment, we remain committed to meeting the diverse needs of our clients and delivering sustainable growth," Okuda concluded.

The results for Q3 of the current fiscal year confirm the previous numbers from Q2, the three-month period between July and September 2022. Nomura generated a net profit of ¥16.8 billion, strengthening its figures 9.9 times QoQ and 5.2 times YoY.

Watch the recent FMLS22 panel on "Prime Time: Liquidity Between Retail & Institutional Trading."

Nomura Opens New Offices in Dubai and Switzerland

Back in December, Nomura announced its plans to open a new branch at the Dubai International Financial Centre (DIFC). A presence in DIFC will allow the expansion of Nomura's International Wealth Management in the Middle East.

The New Subsidiary of Nomura's Singaporean branch has already received authorization from the Dubai Financial Services Authority (DFSA) and the Monetary Authority of Singapore (MAS) to start its local activities.

"We welcome the chance to be a part of this exciting growth opportunity to offer our International Wealth Management and one-bank solutions to clients via our robust Singapore platform," Ravi Raju, the Head of International Wealth Management at Nomura, said.

In the meantime, Nomura has incorporated a new business in Switzerland, Laser Digital Holdings AG, which aims at the crypto industry. Laser Digital's primary goal is to focus on cryptocurrency venture capital, secondary trading and investor products.

As of the first of October 2022, Nomura has a new Chief Information Officer (CIO). Patrick Eltridge has been appointed to the position and is responsible for developing the group's IT department. He joined Nomura from the London-based Nationwide Building Society, where he worked as the CIO for almost four years.

Nomura, the global financial services group, has announced its latest financial results for the third quarter of the fiscal year ending 31 March 2023, showing a visible jump in quarterly and yearly income.

In the three-month period that ended December 2022, Nomura's revenues increased 24% quarter-over-quarter (QoQ) and 12% year-over-year (YoY).

Nomura Reports Strong End of 2022

According to the financial statement published on Wednesday, the overall net income attributable to Nomura Holdings shareholders came in at ¥66.9 billion ($508 million), growing fourfold QoQ and 11% compared to the same period a year earlier.

However, for the nine-month period from April to December 2021, Nomura's net revenue was modestly lower at ¥1,010.6 billion and the net income fell 24% YoY to ¥85.4 billion.

"Retail reported a strong rebound in flow revenue as we provided clients with detailed consulting services to adapt to the changing market environment. Although recurring revenue was largely unchanged from last quarter, our recurring revenue cost coverage ratio remained at the 50 percent level reflecting our continued focus on disciplined cost control," Kentaro Okuda, the President and CEO of Nomura Group, stated.

Nomura results

The Investment Management division saw a steady flow of funds into alternative assets and investment trusts in the past quarter. As a result, pre-tax income for the department was at its highest in 18 months. Additionally, revenue generated by Investment Banking grew, which was similar to Equities and Global Markets. Declines were recorded in Fixed Income and Wholesale Markets.

"As we navigate the changing market environment, we remain committed to meeting the diverse needs of our clients and delivering sustainable growth," Okuda concluded.

The results for Q3 of the current fiscal year confirm the previous numbers from Q2, the three-month period between July and September 2022. Nomura generated a net profit of ¥16.8 billion, strengthening its figures 9.9 times QoQ and 5.2 times YoY.

Watch the recent FMLS22 panel on "Prime Time: Liquidity Between Retail & Institutional Trading."

Nomura Opens New Offices in Dubai and Switzerland

Back in December, Nomura announced its plans to open a new branch at the Dubai International Financial Centre (DIFC). A presence in DIFC will allow the expansion of Nomura's International Wealth Management in the Middle East.

The New Subsidiary of Nomura's Singaporean branch has already received authorization from the Dubai Financial Services Authority (DFSA) and the Monetary Authority of Singapore (MAS) to start its local activities.

"We welcome the chance to be a part of this exciting growth opportunity to offer our International Wealth Management and one-bank solutions to clients via our robust Singapore platform," Ravi Raju, the Head of International Wealth Management at Nomura, said.

In the meantime, Nomura has incorporated a new business in Switzerland, Laser Digital Holdings AG, which aims at the crypto industry. Laser Digital's primary goal is to focus on cryptocurrency venture capital, secondary trading and investor products.

As of the first of October 2022, Nomura has a new Chief Information Officer (CIO). Patrick Eltridge has been appointed to the position and is responsible for developing the group's IT department. He joined Nomura from the London-based Nationwide Building Society, where he worked as the CIO for almost four years.

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