Q1 2023 Nomura Holdings Inc Earnings Call Transcript

Feb 11, 2024

Aug 03, 2022 / 09:30AM GMT
Takumi Kitamura - Nomura Holdings, Inc. - Executive MD, CFO & IR

Good evening. This is Takumi Kitamura, CFO of Nomura Holdings. I will now give you an overview of our financial results for the first quarter of the fiscal year ending March 2023, using the document titled Consolidating Results of Operations.

Please turn to Page 2. It was a challenging quarter as U.S. interest rate hikes and fears of a recession dragged on, negatively impacting market activity and mark-to-market valuations of our securities holdings. As you can see on the top right, income before income taxes slumped 76% to JPY 11.7 billion, and net income dropped 95% to JPY 1.7 billion. Earnings per share was JPY 0.52 and annualized ROE was 0.2%. Three segment income before income taxes shown on the bottom right, slowed 45% to JPY 18.5 billion.

Market headwinds led to a widening of negative investment revenue in Investment Management compared to last quarter and a slowdown in Wholesale due to weaker transaction volumes and the postponement of deals in Equities and Investment Banking. Despite this, revenues in our 3

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