Nomura’s asset management business has reported net revenues of JPY26.9bn ($216m) for the first quarter of fiscal year 2016, a 15% increase compared to JPY23.3bn a year ago.
The unit’s income before income taxes increased 42% year-on-year to JPY11.7bn. Assets under management stood at JPY41.4 trillion as of 30 June 2015.
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The group’s investment trust business posted net inflows of JPY1.3 trillion, driven by ongoing inflows into funds for discretionary investments.
Overall, Nomura’s net revenue for the first quarter of fiscal year 2016 was JPY424bn, an increase of 14.3% from the year ago period.
For first quarter, the group reported income before income taxes of JPY106bn and net income attributable to Nomura Holdings shareholders of JPY68.7bn.
Nomura Group CEO Koji Nagai said: "We reported a solid start to our fiscal year with pretax income up slightly from last quarter, driven by significant growth in our Retail and Asset Management businesses.
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By GlobalData"Recurring revenue continued to expand on inflows into investment trusts and discretionary investments. Retail client assets grew to 113.4 trillion yen. Asset Management had its best quarter in eight years. Assets under management reached a record high for the fifth straight quarter."
