The following is a summary of the Nomura Holdings, Inc. (NMR) Q2 2025 Earnings Call Transcript:
Financial Performance:
Group-wide net revenue for Q2 increased by 6% quarter-on-quarter to JPY 483.3 billion.
Net income saw a significant increase of 43% over the last quarter to JPY 98.4 billion, marking the highest level since June 2020.
EPS was JPY 32.26 and the annualized ROE reached 11.6%, aligning with the upper end of the 2030 quantitative target.For the first half of the fiscal year, net income soared by 186% to JPY 167.3 billion, with a corresponding EPS of JPY 54.58.
Business Progress:
Significant improvements in wholesale with a cost-to-income ratio improvement to 83% and income before income taxes doubling.
Wealth management recorded the highest income before taxes in nine years and recurring revenue reached a record high of JPY 50.3 billion.
Opportunities:
Continued diversification of revenue sources across wholesale, with robust performances in fixed income, equities, and investment banking.
Strong gains in wealth management and investment management divisions indicate a growing and diversified business portfolio.
Announced a dividend per share of JPY 23, maintaining a payout ratio of 40.6%.
Risks:
Increased market volatility affected line businesses, with adjustments required according to market shifts and client activity.
Geopolitical risks and economic uncertainties influenced investment banking and global markets revenues.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
