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November 1, 2017

Nomura net profit dips 15% in Q2

Japanese financial group Nomura has reported attributable net income of JPY51.9bn ($460m) for the second quarter of fiscal year 2018, a decline of 15% compared to the year ago period.

The brokerage’s net revenue for the quarter ended 30 September 2017 stood at JPY351.5bn, an increase of 1% over the corresponding year ago quarter.

Income before income taxes in retail operations was JPY25.5bn, a 77% surge over last year. The unit’s net revenue increased 18% year-on-year to JPY101.8bn.

Income before income taxes in the asset management division was JPY20.5bn, a jump of 175% over the second quarter of previous fiscal year. The division’s net revenue jumped 66% year-on-year to JPY35.4bn.

Nomura group CEO and president Koji Nagai said: “The market rally in the second quarter helped lift our pretax income higher compared to last quarter. For the six months to September, we reported stronger revenues and pretax income year on year, driven by a solid performance in our Retail and Asset Management businesses.”

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