Worth reading
74In focus
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
21
% (year-on-year change in first-half profit before tax)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationSecond quarter of the fiscal year ending March 20277 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥607.5 1 billion+18.0%
Ordinary income¥148 10 billion +8.0%pretax profit
Net income¥103.7 1 billion+13.0%
Selling, general and administrative expenses¥459.5 10 billion expenses excluding financial expenses
Results for the three months of the current quarterTotal revenues: ¥60.75 billion; pretax profit: ¥14.80 billion; net income: ¥10.37 billion; EPS: ¥34.61; ROE: 10.9%. All figures are for the standalone second quarter.
What the company explained in this material
New initiatives
Launched a new Japanese equity active fund in July; improved the user journey in the Nomura app; made new investments through Nomura Capital Partners.Key KPIsA metric the company considers important as a management benchmark.
ROE: 10.9%; EPS: ¥34.61; net increase in recurring assets: ¥755.4 billion; recurring revenue expense coverage ratio: 79%; total underwriting and purchase amount: ¥7.3859 trillion; assets under management: ¥152.8 trillion; alternative assets under management: ¥3.891 trillion; loan balance: ¥1.361 trillion; investment trust assets under custody: ¥44.2 trillion; deposits: ¥1.8377 trillionSegment results
Wealth Management: revenues of ¥141.5 billion (+22% year on year), pretax profit of ¥65.6 billion (+44%); Investment Management: revenues of ¥84.8 billion (+39%), pretax profit of ¥27.4 billion (-11%); Wholesale: revenues of ¥308.9 billion (+11%), pretax profit of ¥46.1 billion (-13%); Banking: revenues of ¥16.4 billion (+27%), pretax profit of ¥4.4 billion (+37%)Medium-term management plan targets
ROE target of 10–12%+ under the 2030 Management Vision. ROE was 13.3% for the first half and 10.9% for the second quarter.Financial targets
ROE target of 10–12%+ under the 2030 Management Vision. First-half ROE was 13.3%.Market Size / Share
Nomura ranked first in the Japan-related ECM league table, with ¥788.3 billion and a 30.5% share. In the Japan-related DCM league table, it ranked first with ¥2.6086 trillion and a 22.6% share.Annual Dividend
Interim dividend: ¥35. Annual dividend and year-end dividend: not disclosed| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | ¥607.5 1 billion (YoY +18.0%) |
| Ordinary income | ¥148 10 billion (pretax profit) (YoY +8.0%) |
| Net income | ¥103.7 1 billion (YoY +13.0%) |
| Selling, general and administrative expenses | ¥459.5 10 billion (expenses excluding financial expenses) |
| Results for the three months of the current quarter | Total revenues: ¥60.75 billion; pretax profit: ¥14.80 billion; net income: ¥10.37 billion; EPS: ¥34.61; ROE: 10.9%. All figures are for the standalone second quarter. |
| Segment results | Wealth Management: revenues of ¥141.5 billion (+22% year on year), pretax profit of ¥65.6 billion (+44%); Investment Management: revenues of ¥84.8 billion (+39%), pretax profit of ¥27.4 billion (-11%); Wholesale: revenues of ¥308.9 billion (+11%), pretax profit of ¥46.1 billion (-13%); Banking: revenues of ¥16.4 billion (+27%), pretax profit of ¥4.4 billion (+37%) |
| Key KPIs | ROE: 10.9%; EPS: ¥34.61; net increase in recurring assets: ¥755.4 billion; recurring revenue expense coverage ratio: 79%; total underwriting and purchase amount: ¥7.3859 trillion; assets under management: ¥152.8 trillion; alternative assets under management: ¥3.891 trillion; loan balance: ¥1.361 trillion; investment trust assets under custody: ¥44.2 trillion; deposits: ¥1.8377 trillion |
| Medium-term management plan targets | ROE target of 10–12%+ under the 2030 Management Vision. ROE was 13.3% for the first half and 10.9% for the second quarter. |
| Financial targets | ROE target of 10–12%+ under the 2030 Management Vision. First-half ROE was 13.3%. |
| Annual Dividend | Interim dividend: ¥35. Annual dividend and year-end dividend: not disclosed |
| Market Size / Share | Nomura ranked first in the Japan-related ECM league table, with ¥788.3 billion and a 30.5% share. In the Japan-related DCM league table, it ranked first with ¥2.6086 trillion and a 22.6% share. |
| New initiatives | Launched a new Japanese equity active fund in July; improved the user journey in the Nomura app; made new investments through Nomura Capital Partners. |
Items this document does not state (17)
Operating profitGross Profit MarginOperating profit marginFull-year earnings forecastProgress against full-year forecastSelf-assessment against the planBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The company cited contributions from all 4 divisions to profit growth, expansion of recurring-revenue businesses and the results of structural reforms as the main factors. By division, contributions included the asset management business in wealth management, net inflows in investment management, and KPI growth and higher interest rates in banking.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.