Nomura Holdings, Japan’s biggest brokerage and investment bank, reported on Friday (Apr 26) a 670 per cent jump in quarterly net profit compared with a year earlier as its retail and investment banking income rose to their highest levels in eight years.
January-March net profit was 56.8 billion yen (S$493.39 million) compared with 7.3 billion yen a year earlier when worries about a global banking crisis engulfed global markets and hit Nomura’s investment banking business.
The results show Nomura’s continued recovery after it was forced to slash its profit targets last May amid global market uncertainty.
The Japanese stock market’s rally between January and March that pushed the Nikkei 225 index to a record high boosted Nomura’s retail business yet higher after recording its highest retail income in eight yeas in the previous quarter.
Investment banking revenue from both domestic and international deals rose to the highest since the 2016/17 financial year – the earliest for which comparisons are available – despite a decline in global fee pools. REUTERS
