Nomura Reports Second Quarter Financial Results
| • | All four business divisions contributed to strong first-half performance; Group pretax income was Y359.5bn, up 21% YoY |
| • | Wealth Management had record-high recurring revenue and net inflows into recurring revenue assets; Recurring revenue cost coverage ratio rose to 79% |
| • | Investment Management AuM remained at a high level, reflecting continued inflows into newly launched funds and balanced funds; Business revenue remained solid |
| • | In Wholesale, Equities revenues remained strong; Investment Banking net revenue increased 26% YoY, driven by strong momentum in key product areas |
| • | Banking booked solid revenues from lending and trust and agent services, supported by higher interest rates and steady progress toward achieving the division’s KPIs |
| • | Second-quarter ROE of 10.9%; First-half ROE of 13.3%; Dividend of 35 yen per share |
Tokyo, October 28, 2026—Nomura Holdings, Inc. today announced its consolidated financial results for the second quarter and first half of the fiscal year ending March 31, 2027.
Net revenue in the second quarter was 607.5 billion yen (US$3.9 billion)1, declining 12 percent quarter on quarter but increasing 18 percent year on year. Income before income taxes was 148.0 billion yen (US$941 million), decreasing 30 percent from last quarter but increasing 8 percent compared to the second quarter last year. Net income attributable to Nomura Holdings shareholders was 103.7 billion yen (US$659 million), down 29 percent quarter on quarter but up 13 percent year on year.
For the six months to September, Nomura reported net revenue of 1,294.2 billion yen (US$8.2 billion), up 25 percent from the same period last year. Income before income taxes increased 21 percent to 359.5 billion yen (US$2.3 billion), and net income attributable to Nomura Holdings shareholders was 249.3 billion yen (US$1.6 billion), up 27 percent from the same period last year.
“In the first half of the fiscal year, we continued to see the positive results of our business model transformation. ROE was 13.3 percent, and pretax income from our four business divisions rose 50 percent year on year. Stable revenues grew about 60 percent compared to the same period last year, reflecting the expansion of our asset management-based business. We also continued to strengthen our revenue base by further diversifying our Wholesale revenue streams,” said Kentaro Okuda, Nomura President and Group CEO.
“In our Wealth Management Division, net inflows into recurring revenue assets reached a record high of around 750 billion yen as our full-service asset management business gained momentum. Recurring revenue was also at an all-time high and the recurring revenue cost coverage ratio rose to 79 percent.
“Investment Management assets under management remained at a high level, largely due to continued inflows into newly launched and balanced funds.
| 1 | US dollar amounts are included solely for the convenience of the reader and have been translated at the rate of 157.25 yen = 1 US dollar, the noon buying rate in New York for cable transfers in foreign currencies as certified for customs purposes by the Federal Reserve Bank of New York on September 30, 2026. This translation should not be construed to imply that the yen amounts actually represent, or have been or could be converted into, equivalent amounts in US dollars. |
