Nomura Holdings Reports Q1 FY2025/26 Results: 16% Revenue Growth and 64% Rise in Income Before Taxes

Nomura Holdings reported strong Q1 FY2025/26 results with a 16% increase in net revenue and a 64% rise in income before taxes compared to the previous quarter. The wealth management segment grew due to tailored consulting services, while investment management achieved record-high assets under management. The wholesale division benefited from increased volatility, and the newly established banking division contributed firm revenues.

Nomura Holdings, Inc. (NYSE:NMR) has reported strong quarterly results for Q1 FY2025/26, with a 16% increase in net revenue and a 64% rise in income before taxes compared to the previous quarter [1]. The company's earnings call transcript, released on July 29, 2025, provided detailed insights into its financial performance and operational highlights.

The wealth management segment saw a 6% increase in net revenue to JPY105.8 billion, driven by tailored consulting services that captured market fluctuations and a 16% growth in flow revenue. Recurring revenue assets continued to see net inflows for the 13th consecutive quarter, reaching JPY278.9 billion [1].

Investment management also performed exceptionally well, with net revenue rising by 18% to JPY50.6 billion and income before taxes increasing by 39% to JPY21.5 billion. The segment saw record-high assets under management of JPY94.3 trillion, with net inflows totaling around JPY108 billion [1].

The wholesale division, which includes global markets and investment banking, contributed significantly to the company's performance. Global markets net revenue increased by 8% to JPY223.1 billion, while investment banking revenues fell by 27% but remained at the highest level for Q1 since FY2016/17 [1].

The newly established banking division, which became an independent division in April, also contributed firm revenues. Net revenue in the banking division rose by 12% to JPY12.8 billion, and income before taxes increased by 19% to JPY3.6 billion [1].

Overall, Nomura Holdings reported EPS of JPY34.04 and an annualized ROE of 12%, the highest since Q1 and Q3 of FY2020 and FY2021, respectively. The company has achieved its quantitative target of consistently achieving an ROE of 8% to 10% or more for five straight quarters [1].

References:
[1] Nomura Holdings, Inc. Q1 2026 Earnings Call Transcript, July 29, 2025. Retrieved from https://www.insidermonkey.com/blog/nomura-holdings-inc-nysenmr-q1-2026-earnings-call-transcript-1579067/