Nomura Holdings closed its fiscal year to 31 March 2026 with
higher profit, stronger trading income and a larger balance sheet, even as
operating cash outflows and expenses rose.
Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).
Net income attributable to shareholders increased 6.3%
year-on-year to ¥362.1 billion, up from ¥340.7 billion, while income before
income taxes rose 14.4% to ¥539.8 billion.
Net revenue climbed 14.5% to ¥2,167.7 billion, compared with
¥1,892.5 billion a year earlier, helped by a 20.1% jump in net gain on trading
to ¥696.9 billion and a 23.9% rise in asset management and portfolio service
fees to ¥468.6 billion.
Profitability Inches up as FX Boosts Income
Profitability improved modestly. Basic earnings per share
advanced to ¥123.08 from ¥115.30, and return on shareholders’ equity edged up
to 10.1% from 10.0%. Comprehensive income surged 43.8% to ¥480.0 billion,
driven by currency translation gains that lifted other comprehensive income.
The profit gains came despite a broad-based increase in
expenses. Non-interest expenses rose 14.6% to ¥1,627.9 billion, almost in line
with the growth in net revenue.
Compensation and benefits climbed 13.3% to ¥829.5 billion,
while commissions and floor brokerage costs jumped 25.0% to ¥221.9 billion.
Information processing and communications expenses also moved higher to ¥248.4
billion as Nomura invested in systems and business support.
Read more: Nomura Makes Largest Overseas Purchase Since Lehman With $1.8 Billion Deal
By segment, wealth management net revenue increased 12.5% to
¥487.9 billion and pre-tax income rose 22.8% to ¥204.0 billion, showing better
operating leverage
Leverage
In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders
In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders
Read this Term than the group average. Wholesale activity remained a core
earnings driver, with net revenue up 9.9% to ¥1,162.2 billion and pre-tax
income up 20.6% to ¥200.6 billion.
Nomura invests in growth and Macquarie
integration
Investment management saw net revenue jump 34.3% to ¥258.5
billion, but income before income taxes slipped 1.4% to ¥88.3 billion as
non-interest expenses surged 65.5% to ¥170.2 billion.
A key factor behind the investment management expansion was
the December 2025 acquisition of three Macquarie Group asset management
entities for about 1.8 billion US dollars, or roughly ¥281.4 billion. Nomura
said it allocated a substantial portion of the purchase price to intangible
assets and goodwill, and that the deal helped lift assets under management to
¥136.9 trillion at year-end.
The balance sheet expanded alongside this growth push. Total
assets rose to ¥62,645.9 billion from ¥56,802.2 billion, driven by a ¥3,755.7
billion increase in trading assets and a ¥2,094.0 billion rise in loans and
receivables.
Long-term borrowings grew by ¥2,171.3 billion to ¥15,545.0
billion, supporting a year in which operating and investing activities used a
combined ¥2,341.9 billion of cash. Nomura’s annual dividend per share fell to
¥51.00 from ¥57.00, and the payout ratio dropped to 41.4% from 49.4% as the
group retained more earnings to fund expansion.
Nomura Holdings closed its fiscal year to 31 March 2026 with
higher profit, stronger trading income and a larger balance sheet, even as
operating cash outflows and expenses rose.
Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).
Net income attributable to shareholders increased 6.3%
year-on-year to ¥362.1 billion, up from ¥340.7 billion, while income before
income taxes rose 14.4% to ¥539.8 billion.
Net revenue climbed 14.5% to ¥2,167.7 billion, compared with
¥1,892.5 billion a year earlier, helped by a 20.1% jump in net gain on trading
to ¥696.9 billion and a 23.9% rise in asset management and portfolio service
fees to ¥468.6 billion.
Profitability Inches up as FX Boosts Income
Profitability improved modestly. Basic earnings per share
advanced to ¥123.08 from ¥115.30, and return on shareholders’ equity edged up
to 10.1% from 10.0%. Comprehensive income surged 43.8% to ¥480.0 billion,
driven by currency translation gains that lifted other comprehensive income.
The profit gains came despite a broad-based increase in
expenses. Non-interest expenses rose 14.6% to ¥1,627.9 billion, almost in line
with the growth in net revenue.
Compensation and benefits climbed 13.3% to ¥829.5 billion,
while commissions and floor brokerage costs jumped 25.0% to ¥221.9 billion.
Information processing and communications expenses also moved higher to ¥248.4
billion as Nomura invested in systems and business support.
Read more: Nomura Makes Largest Overseas Purchase Since Lehman With $1.8 Billion Deal
By segment, wealth management net revenue increased 12.5% to
¥487.9 billion and pre-tax income rose 22.8% to ¥204.0 billion, showing better
operating leverage
Leverage
In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders
In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders
Read this Term than the group average. Wholesale activity remained a core
earnings driver, with net revenue up 9.9% to ¥1,162.2 billion and pre-tax
income up 20.6% to ¥200.6 billion.
Nomura invests in growth and Macquarie
integration
Investment management saw net revenue jump 34.3% to ¥258.5
billion, but income before income taxes slipped 1.4% to ¥88.3 billion as
non-interest expenses surged 65.5% to ¥170.2 billion.
A key factor behind the investment management expansion was
the December 2025 acquisition of three Macquarie Group asset management
entities for about 1.8 billion US dollars, or roughly ¥281.4 billion. Nomura
said it allocated a substantial portion of the purchase price to intangible
assets and goodwill, and that the deal helped lift assets under management to
¥136.9 trillion at year-end.
The balance sheet expanded alongside this growth push. Total
assets rose to ¥62,645.9 billion from ¥56,802.2 billion, driven by a ¥3,755.7
billion increase in trading assets and a ¥2,094.0 billion rise in loans and
receivables.
Long-term borrowings grew by ¥2,171.3 billion to ¥15,545.0
billion, supporting a year in which operating and investing activities used a
combined ¥2,341.9 billion of cash. Nomura’s annual dividend per share fell to
¥51.00 from ¥57.00, and the payout ratio dropped to 41.4% from 49.4% as the
group retained more earnings to fund expansion.
