<p>Nomura, the
global financial services group, has announced its latest financial results for
the third quarter of the fiscal year ending 31 March 2023,
showing a visible jump in quarterly and yearly income. </p><p>In the
three-month period that ended December 2022, Nomura’s revenues increased 24%
quarter-over-quarter (QoQ) and 12% year-over-year (YoY).</p><p>Nomura Reports Strong End
of 2022</p><p>According
to the financial statement published on Wednesday, the overall net income attributable
to Nomura Holdings shareholders came in at ¥66.9 billion ($508 million),
growing fourfold QoQ and 11% compared to the same period a year earlier.</p><p>However, for
the nine-month period from April to December 2021, Nomura’s net revenue was
modestly lower at ¥1,010.6 billion and the net income fell 24% YoY to ¥85.4
billion.</p><p>”Retail
reported a strong rebound in flow revenue as we provided clients with detailed
consulting services to adapt to the changing market environment. Although
recurring revenue was largely unchanged from last quarter, our recurring
revenue cost coverage ratio remained at the 50 percent level reflecting our
continued focus on disciplined cost control,” Kentaro Okuda, the President and
CEO of Nomura Group, stated.</p><p>The
Investment Management division saw a steady flow of funds into alternative
assets and investment trusts in the past quarter. As a result, pre-tax income for
the department was at its highest in 18 months. Additionally, revenue generated by Investment
Banking grew, which was similar to <a href=”https://www.financemagnates.com/terms/e/equities/” class=”terms__main-term” id=”d6e02698-4c6b-44dd-ab57-9ff12763325c” target=”_blank”>Equities</a> and Global Markets. Declines were
recorded in Fixed Income and Wholesale Markets.</p><p>”As we
navigate the changing market environment, we remain committed to meeting the
diverse needs of our clients and delivering sustainable growth,” Okuda concluded.</p><p>The results
for Q3 of the current fiscal year <a href=”https://www.financemagnates.com/institutional-forex/nomura-gains-a-windfall-in-q2-despite-global-worries/” target=”_blank” rel=”follow”>confirm the previous numbers from Q2</a>, the three-month period between July and September 2022. Nomura generated a net profit of ¥16.8
billion, strengthening its figures 9.9 times QoQ and 5.2 times YoY.</p><p>Watch the recent FMLS22 panel on “Prime Time: Liquidity Between Retail & Institutional Trading.”</p><p>Nomura Opens New Offices
in Dubai and Switzerland</p><p>Back in
December, <a href=”https://www.financemagnates.com/institutional-forex/nomura-opens-dubai-office-expands-wealth-management-in-middle-east/” target=”_blank” rel=”follow”>Nomura announced its plans to open a new branch</a> at the Dubai
International Financial Centre (DIFC). A presence in DIFC will allow the
expansion of Nomura’s International Wealth Management in the Middle East.</p><p>The New
Subsidiary of Nomura’s Singaporean branch has already received authorization
from the Dubai Financial Services Authority (DFSA) and the Monetary Authority
of Singapore (MAS) to start its local activities.</p><p>”We
welcome the chance to be a part of this exciting growth opportunity to offer
our International Wealth Management and one-bank solutions to clients via our
robust Singapore platform,” Ravi Raju, the Head of International Wealth
Management at Nomura, said.</p><p>In the
meantime, <a href=”https://www.financemagnates.com/fintech/japanese-firm-nomura-incorporates-crypto-subsidiary-in-switzerland/” target=”_blank” rel=”follow”>Nomura has incorporated a new business in Switzerland</a>, Laser Digital
Holdings AG, which aims at the crypto industry. Laser Digital’s primary goal is
to focus on cryptocurrency venture capital, secondary trading and investor
products.</p><p>As
of the first of October 2022, Nomura has a new Chief Information Officer (CIO). <a href=”https://www.financemagnates.com/executives/moves/nomura-names-patrick-eltridge-as-new-group-cio/” target=”_blank” rel=”follow”>Patrick Eltridge has been appointed to the position</a> and is responsible for
developing the group’s IT department. He joined Nomura from the London-based
Nationwide Building Society, where he worked as the CIO for almost four years.</p>
This article was written by Damian Chmiel at www.financemagnates.com.
