Japanese financial major Nomura has reported attributable net income of JPY70.3bn for the third quarter of fiscal 2017, a jump of 99% compared to the last year.
The brokerage’s net revenue stood at JPY368.6bn, an increase of 4% compared to the the year ago period.
Income before income taxes in retail operations was JPY25.9bn, a decline of 7% year-on-year. The unit’s net revenue dropped 3% year-on-year to JPY101.3bn.
Income before income taxes in the asset management division was JPY14bn in the third quarter of fiscal 2017, a 30% surge compared to the same quarter a year ago. The division’s net revenue increased 14% year-on-year to JPY28.9bn.
Nomura Group CEO Koji Nagai said: “All business divisions reported stronger revenues and pretax income compared to last quarter. At the Group level, pretax income was the highest in six quarters. Our international business capitalized on revenue opportunities and saw the benefits of cost reductions to deliver its third straight quarter of profitability.
“Our Retail business continued to transform its business model. We reported a jump in sales of stocks, bonds, and investment trusts as the market recovery led to improved investor sentiment. In Asset Management, ongoing inflows into investment trusts and the investment advisory business combined with market factors to lift assets under management to a record high.”