Q1 2026 Nomura Holdings Inc Earnings Call Transcript
Key Points
- Group net revenue increased by 16% over the last quarter, reaching JPY523.3 billion.
- Income before income taxes grew by 64% to JPY160.3 billion, with net income rising 45% to JPY104.6 billion.
- All four divisions, including the newly established Banking division, achieved growth in both revenues and profits compared to the previous quarter.
- Assets under management in the Asset Management business hit a record high of JPY94.3 trillion due to market recovery.
- The Wealth Management division saw a net inflow of recurring revenue assets for the 13th consecutive quarter.
- Recurring revenue declined compared to the previous quarter due to a decline in stock prices and the absence of investment advisory fees.
- Investment Banking revenues fell 27% from the previous quarter, despite being the highest for Q1 since fiscal year 2016-17.
- The company faced a JPY6.6 billion expense related to compensation for losses from illegal trades due to phishing scams.
- The common equity Tier 1 ratio decreased from 14.5% to 13.2% due to an increase in risk assets.
- The EMEA region reported losses due to weak market conditions and increased personnel costs due to compensation regulations.
Good day, everyone, and welcome to today's Nomura Holdings first quarter operating results for fiscal year ended March 2026 conference call. Please be reminded that today's conference call is being recorded at the request of the hosting company. (Operator Instructions)
Please note that this telephone conference contains certain forward-looking statements and other projected results, which involve known and unknown risks, delays, uncertainties and other factors not under the company's control, which may cause actual results, performance or achievement of the company to be materially different from the results, performance or other expectations implied by these projections.
Such factors include economic and market conditions, political events and investor sentiments, liquidity of secondary market, level and volatility of interest rates, currency exchange rates, security valuations, competitive conditions and size, number and timing of transactions.
With that, we'd like to begin the conference. Mr. Hiroyuki Moriuchi, Chief Financial Officer. Please go ahead.
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