Nomura's first-quarter ROE of 15.4% surpasses targets as revenue and profit surge, driven by record Wholesale performance.

Nomura Holdings reported strong first-quarter results for its fiscal year ending March 2027, with net revenue of ¥686.7 billion, up 31% year-over-year, and net income attributable to shareholders of ¥145.6 billion, a 39% increase. The company's performance was driven by record results in its Wholesale and Investment Management divisions, leading to a significant outperformance on its key profitability metric.

Key Highlights

• Return on Equity (ROE): Achieved an annualized ROE of 15.4% for the quarter, substantially exceeding analyst expectations and the company's 10-12% medium-term target range.
• Wholesale Division Strength: The Wholesale division posted record net revenue of ¥369.1 billion (+41% YoY) and income before taxes of ¥93.3 billion (+123% YoY), fueled by a record quarter in Equities and strong performance in Global Markets.
• Investment Management Growth: The Investment Management division also achieved record net revenue (¥98.3 billion, +94% YoY) and income before taxes (¥45.0 billion, +109% YoY), supported by record-high assets under management of ¥156.4 trillion and gains related to American Century Investments.