News Release
October 28, 2026
NOMURA HOLDINGS, INC.Financial Summary–Six months ended September 30, 2026
We are pleased to report the following consolidated financial summary based on the consolidated financial information under U.S. GAAP for six months ended September 30, 2026.
Financial Summary for the Six Months Ended September 30, 2026 (U.S. GAAP)Date: October 28, 2026
Company name (code number): Nomura Holdings, Inc. (8604)
Stock exchange listings: (In Japan) Tokyo, Nagoya (Overseas) New York, Singapore
Representative: Kentaro Okuda
President and Group CEO, Nomura Holdings, Inc.
For inquiries: Akihiro Koseki
Managing Director, Head of Investor Relations, Nomura Holdings, Inc. Tel: (Country Code 81) 3-5255-1000
URL: https://www.nomura.com
- Consolidated Operating Results
Operating Results
(Rounded to nearest million) (Millions of yen, except per share data)
For the six months ended September 30 2025 2026
% Change from September 30, 2024
% Change from September 30, 2025
Total revenue
2,317,801
(5.8%)
2,694,536
16.3%
Net revenue
1,038,777
10.8%
1,294,190
24.6%
Income before income taxes
296,927
25.8%
359,537
21.1%
Net income attributable to
Nomura Holdings, Inc. (“NHI”) shareholders
196,643
17.5%
249,289
26.8%
Comprehensive income
161,423
98.9%
210,605
30.5%
Basic-Net income attributable to NHI shareholders per share (Yen)
66.54
85.39
Diluted-Net income attributable to NHI shareholders per share (Yen)
64.53
82.97
Return on shareholders’ equity - annualized
11.3%
13.3%
Note: Return on shareholders’ equity is a ratio of Net income attributable to NHI shareholders to Total NHI shareholders’ equity.
Financial Position
(Millions of yen, except per share data)
At March 31 At September 30
2026
2026
Total assets
62,645,925
67,482,102
Total equity
3,854,915
3,925,763
Total NHI shareholders’ equity
3,707,868
3,775,312
Total NHI shareholders’ equity as a percentage of total assets
5.9%
5.6%
Total NHI shareholders’ equity per share (Yen)
1,277.99
1,291.77
- Cash Dividends
For the year ended March 31
(Yen amounts)
Dividends per share Dividends record dates
2026 2027 2027 (Plan)
At June 30
—
—
—
At September 30
27.00
35.00
—
At December 31
—
—
—
At March 31
24.00
—
Unconfirmed
For the year
51.00
—
Unconfirmed
Note: The dividends for the fourth quarter of the year ending March 31, 2027, are not presented for the reasons stated in “ 3. Earnings forecasts for the year ending March 31, 2027.”
- Earnings Forecasts for the year ending March 31, 2027
Nomura provides investment, financing and related services in the capital markets on a global basis. In the global capital markets there exist uncertainties due to, but not limited to, economic and market conditions. Nomura, therefore, does not present earnings forecasts.
Notes
Significant changes in the scope of consolidation during the period: None
Adoption of the simplified and particular accounting treatments: None
Changes in accounting policies
Changes in accounting policies due to amendments to the accounting standards : None
Changes in accounting policies due to other than a) : None
(4) Number of shares issued (common stock) | |||
At March 31 | At September 30 | ||
2026 | 2026 | ||
Number of shares outstanding (including treasury stock) | 3,088,562,601 | 3,088,562,601 | |
Number of treasury stock | 187,225,377 | 165,971,520 | |
For the six months ended September 30
2025 | 2026 | ||
Average number of shares outstanding (year-to-date) | 2,955,292,000 | 2,919,555,836 |
*Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm.
Table of Contents for the Accompanying Materials
Qualitative Information of the Semi-annual Consolidated Results .................................................... P. 2
Consolidated Operating Results ........................................................................................................... P. 2
Consolidated Financial Position .......................................................................................................... P. 4
Consolidated Earnings Forecasts ......................................................................................................... P. 4
Semi-annual Consolidated Financial Statements ................................................................................. P. 5
Semi-annual Consolidated Balance Sheets .......................................................................................... P. 6
Semi-annual Consolidated Statements of Income ............................................................................... P. 8
Semi-annual Consolidated Statements of Comprehensive Income ..................................................... P. 9
Note with respect to the Assumption as a Going Concern .................................................................. P. 10
Significant Changes in Equity ............................................................................................................. P. 11
Segment Information – Operating Segment ......................................................................................... P. 12
Supplementary Information ................................................................................................................... P. 14
Consolidated Statements of Income – Quarterly Comparatives .......................................................... P. 14
Business Segment Information – Quarterly Comparatives .................................................................. P. 15
Other .................................................................................................................................................... P. 16
- Qualitative Information of the Semi-annual Consolidated Results
- Consolidated Operating Results
U.S. GAAP
Billions of yen % Change For the six months ended
September 30,
September 30,
(B-A)/(A)
2025 (A)
2026 (B)
Net revenue
1,038.8
1,294.2
24.6
Non-interest expenses
741.9
934.7
26.0
Income (loss) before income taxes
296.9
359.5
21.1
Income tax expense
93.7
97.0
3.5
Net income (loss)
203.3
262.6
29.2
Less: Net income (loss) attributable to noncontrolling interests
6.6
13.3
100.7
Net income (loss) attributable to NHI shareholders
196.6
249.3
26.8
Return on shareholders’ equity - annualized
11.3%
13.3%
—
Note: Return on shareholders’ equity is a ratio of Net income (loss) attributable to NHI shareholders to Total NHI shareholders’ equity.
Nomura Holdings, Inc. and its consolidated entities (collectively, “Nomura”) reported net revenue of 1,294.2 billion yen for the six months ended September 30, 2026, an increase of 24.6% from the same period in the prior year. Non-interest expenses increased by 26.0% from the same period in the prior year to 934.7 billion yen. Income before income taxes was 359.5 billion yen and net income attributable to NHI shareholders was 249.3 billion yen for the six months ended September 30, 2026.
Segment InformationBillions of yen % Change For the six months ended
September 30,
September 30,
(B-A)/(A)
2025 (A)
2026 (B)
Net revenue
1,037.1
1,282.8
23.7
Non-interest expenses
741.9
934.7
26.0
Income (loss) before income taxes
295.3
348.2
17.9
In the above segment information totals, which exclude a part of unrealized gain (loss) on investments in equity securities held for operating purposes, net revenue for the six months ended September 30, 2026 was 1,282.8 billion yen, an increase of 23.7% from the same period in the prior year. Non-interest expenses increased by 26.0% from the same period in the prior year to 934.7 billion yen. Income before income taxes increased by 17.9% to 348.2 billion yen for the six months ended September 30, 2026. Please refer to page 12 for further details of the differences between U.S. GAAP and business segment amounts.
Operating Results of Wealth ManagementBillions of yen % Change For the six months ended
September 30,
September 30,
(B-A)/(A)
2025 (A)
2026 (B)
Net revenue
222.3
286.9
29.1
Non-interest expenses
138.0
150.3
8.9
Income (loss) before income taxes
84.3
136.7
62.1
Net revenue increased by 29.1% from the same period in the prior year to 286.9 billion yen. Non-interest expenses increased by 8.9% to 150.3 billion yen. As a result, income before income taxes increased by 62.1% to
136.7 billion yen.
Operating Results of Investment ManagementBillions of yen % Change For the six months ended
September 30,
2025 (A)
September 30,
2026 (B)
(B-A)/(A)
Net revenue 111.4 183.1 64.4
Non-interest expenses 59.2 110.7 87.2
Income (loss) before income taxes 52.2 72.4 38.5
Net revenue increased by 64.4% from the same period in the prior year to 183.1 billion yen. Non-interest expenses increased by 87.2% to 110.7 billion yen. As a result, income before income taxes increased by 38.5% to
72.4 billion yen. Assets under management were 152.8 trillion yen as of September 30, 2026.
Operating Results of WholesaleBillions of yen % Change For the six months ended
September 30,
September 30,
(B-A)/(A)
2025 (A)
2026 (B)
Net revenue
540.3
678.0
25.5
Non-interest expenses
445.2
538.6
21.0
Income (loss) before income taxes
95.0
139.4
46.6
Net revenue increased by 25.5% from the same period in the prior year to 678.0 billion yen. Non-interest expenses increased by 21.0% to 538.6 billion yen. As a result, income before income taxes increased by 46.6% to
139.4 billion yen.
Operating Results of Banking
Billions of yen
% Change
For the six months ended
September 30, September 30,
2025 (A) 2026 (B)
(B-A)/(A)
Net revenue
25.7 31.6
23.1
Non-interest expenses
18.9 23.6
25.0
Income (loss) before income taxes
6.8 8.0
17.7
Net revenue increased by 23.1% from the same period in the prior year to 31.6 billion yen. Non-interest expenses increased by 25.0% to 23.6 billion yen. As a result, income before income taxes increased by 17.7% to
8.0 billion yen.
Other Operating ResultsBillions of yen % Change For the six months ended
September 30,
2025 (A)
September 30,
2026 (B)
(B-A)/(A)
Net revenue 137.5 103.1 (25.0)
Non-interest expenses 80.6 111.4 38.2
Income (loss) before income taxes 56.9 (8.2) －
Net revenue was 103.1 billion yen. Loss before income taxes was 8.2 billion yen.
- Consolidated Financial Position
Total assets as of September 30, 2026 were 67,482.1 billion yen, an increase of 4,836.2 billion yen compared to March 31, 2026, mainly due to the increase in Trading assets. Total liabilities as of September 30, 2026 were 63,556.3 billion yen, an increase of 4,765.3 billion yen compared to March 31, 2026, mainly due to the increase in Trading liabilities. Total equity as of September 30, 2026 was 3,925.8 billion yen, an increase of 70.8 billion yen compared to March 31, 2026.
- Consolidated Earnings Forecasts
Nomura provides investment, financing and related services in the capital markets on a global basis. In the global capital markets there exist uncertainties due to, but not limited to, economic and market conditions. Nomura, therefore, does not present earnings and dividend forecasts.
- Consolidated Operating Results
- Semi-annual Consolidated Financial Statements
The Semi-annual consolidated financial statements herein have been prepared in accordance with Nomura’s accounting policies which are disclosed in the notes to the consolidated financial statements of Nomura Holdings, Inc.’s Annual Securities Report (the annual report filed in Japan on June 22, 2026) and Form 20-F (the annual report filed with the U.S. Securities and Exchange Commission on June 22, 2026) for the year ended March 31, 2026.
- Semi-annual Consolidated Balance Sheets
ASSETS
March 31,
2026
Millions of yen September 30,
2026
Increase/ (Decrease)
Cash and cash deposits:
Cash and cash equivalents
4,298,693
5,369,061
1,070,368
Time deposits
709,639
704,170
(5,469)
Deposits with stock exchanges and other segregated cash
640,642
594,061
(46,581)
Total cash and cash deposits
5,648,974
6,667,292
1,018,318
Loans and receivables: Loans receivable
7,745,214
8,771,750
1,026,536
Receivables from customers
470,341
610,743
140,402
Receivables from other than customers
1,345,631
1,637,954
292,323
Allowance for credit losses
(18,381)
(18,714)
(333)
Total loans and receivables
9,542,805
11,001,733
1,458,928
Collateralized agreements:
Securities purchased under agreements to resell
13,210,236
13,590,672
380,436
Securities borrowed
4,339,659
4,065,915
(273,744)
Total collateralized agreements
17,549,895
17,656,587
106,692
Trading assets and private equity and debt investments: Trading assets*
26,128,073
27,982,436
1,854,363
Private equity and debt investments*
214,014
234,860
20,846
Total trading assets and private equity and debt investments
26,342,087
28,217,296
1,875,209
Other assets:
Office buildings, land, equipment and facilities
(net of accumulated depreciation and amortization of
¥ 600,417 million as of March 31, 2026 and
¥ 618,261 million as of September 30, 2026)
543,847
695,208
151,361
Non-trading debt securities*
761,267
883,445
122,178
Investments in equity securities*
123,191
150,121
26,930
Investments in and advances to affiliated companies*
535,402
546,105
10,703
Other
1,598,457
1,664,315
65,858
Total other assets
3,562,164
3,939,194
377,030
Total assets
62,645,925
67,482,102
4,836,177
*Including securities pledged as collateral
LIABILITIES AND EQUITY
March 31,
2026
Millions of yen September 30,
2026
Increase/ (Decrease)
Short-term borrowings
Payables and deposits: Payables to customers
1,752,669
1,598,758
2,001,260
1,765,269
248,591
166,511
Payables to other than customers
3,432,040
3,632,799
200,759
Deposits received at banks
3,667,090
4,352,723
685,633
Total payables and deposits
8,697,888
9,750,791
1,052,903
Collateralized financing:
Securities sold under agreements to repurchase
15,233,838
15,666,522
432,684
Securities loaned
2,448,284
3,433,209
984,925
Other secured borrowings
384,156
449,185
65,029
Total collateralized financing
18,066,278
19,548,916
1,482,638
Trading liabilities
12,915,584
14,946,195
2,030,611
Other liabilities
1,813,635
1,675,973
(137,662)
Long-term borrowings
15,544,956
15,633,204
88,248
Total liabilities
58,791,010
63,556,339
4,765,329
Equity
NHI shareholders’ equity: Common stock
Authorized -
Issued -
Outstanding -
6,000,000,000 shares
3,088,562,601 shares as of March 31, 2026 and
3,088,562,601 shares as of September 30, 2026
2,901,337,224 shares as of March 31, 2026 and
2,922,591,081 shares as of September 30, 2026
594,493
594,493
—
Additional paid-in capital
706,261
673,226
(33,035)
Retained earnings
2,013,986
2,153,428
139,442
Accumulated other comprehensive income (loss)
548,221
497,126
(51,095)
Total NHI shareholders’ equity before treasury stock
3,862,961
3,918,273
55,312
Common stock held in treasury, at cost -
187,225,377 shares as of March 31, 2026 and
165,971,520 shares as of September 30, 2026
(155,093)
(142,961)
12,132
Total NHI shareholders’ equity
3,707,868
3,775,312
67,444
Noncontrolling interests
147,047
150,451
3,404
Total equity
3,854,915
3,925,763
70,848
Total liabilities and equity
62,645,925
67,482,102
4,836,177
- Semi-annual Consolidated Statements of Income
September 30,
September 30,
(B-A)/(A)
2025(A)
2026(B)
Revenue:
Commissions
205,655
253,735
23.4
Fees from investment banking
82,911
113,401
36.8
Asset management and portfolio service fees
195,342
333,627
70.8
Net gain on trading
314,183
434,903
38.4
Gain on private equity and debt investments
10,700
5,936
(44.5)
Interest and dividends
1,302,391
1,430,975
9.9
Gain on investments in equity securities
3,988
12,949
224.7
Other
202,631
109,010
(46.2)
Total revenue
2,317,801
2,694,536
16.3
Interest expense
1,279,024
1,400,346
9.5
Net revenue
1,038,777
1,294,190
24.6
Non-interest expenses: Compensation and benefits
381,389
460,761
20.8
Commissions and floor brokerage
91,969
144,677
57.3
Information processing and communications
116,366
140,860
21.0
Occupancy and related depreciation
33,248
38,491
15.8
Business development expenses
14,264
17,198
20.6
Other
104,614
132,666
26.8
Total non-interest expenses
741,850
934,653
26.0
Income before income taxes
296,927
359,537
21.1
Income tax expense
93,660
96,956
3.5
Net income
203,267
262,581
29.2
Less: Net income attributable to noncontrolling interests
6,624
13,292
100.7
Net income attributable to NHI shareholders
196,643
249,289
26.8
Per share of common stock:
Yen
% Change
Basic-
Net income attributable to NHI shareholders per share
66.54
85.39
28.3
Diluted-
Net income attributable to NHI shareholders per share
64.53
82.97
28.6
Millions of yen % Change For the six months ended
- Semi-annual Consolidated Statements of Comprehensive Income
Millions of yen % Change
For the six months ended
September 30, 2025(A)
September 30, 2026(B)
(B-A)/(A)
Net income
Other comprehensive income (loss): Cumulative translation adjustments:
Cumulative translation adjustments
203,267
3,618
262,581
(24,301)
29.2
—
Deferred income taxes
1,689
(1,325)
—
Total
5,307
(25,626)
—
Defined benefit pension plans:
Pension liability adjustment
(4,525)
(917)
—
Deferred income taxes
(13)
(15)
—
Total
(4,538)
(932)
—
Non-trading debt securities:
Net unrealized gain (loss) on non-trading debt securities
(456)
(3,498)
—
Deferred income taxes
143
1,102
670.6
Total
(313)
(2,396)
—
Own credit adjustments:
Own credit adjustments
(50,030)
(27,432)
—
Deferred income taxes
7,730
4,410
(42.9)
Total
(42,300)
(23,022)
—
Total other comprehensive income (loss)
(41,844)
(51,976)
—
Comprehensive income
161,423
210,605
30.5
Less: Comprehensive income attributable to noncontrolling interests
8,183
12,411
51.7
Comprehensive income attributable to NHI shareholders
153,240
198,194
29.3
- Note with respect to the Assumption as a Going Concern
Not applicable.
- Significant Changes in Equity
Not applicable. For further details of the changes, please refer below.
Common stock
Millions of yen
For the six months ended September 30, 2026
Balance at beginning of year 594,493
Balance at end of period 594,493
Additional paid-in capital
Balance at beginning of year
706,261
Stock-based compensation awards
(33,009)
Changes in an affiliated company's interests
(26)
Balance at end of period
673,226
Retained earnings
Balance at beginning of year
2,013,986
Net income attributable to NHI shareholders
249,289
Cash dividends
(102,291)
Loss on disposal of treasury stock
(7,556)
Balance at end of period
2,153,428
Accumulated other comprehensive income (loss)
Cumulative translation adjustments
Balance at beginning of year
550,501
Net change during the period
(24,745)
Balance at end of period
525,756
Defined benefit pension plans Balance at beginning of year
(122)
Pension liability adjustment
(932)
Balance at end of period
(1,054)
Non-trading debt securities Balance at beginning of year
(3,362)
Net unrealized loss on non-trading debt securities
(2,396)
Balance at end of period
(5,758)
Own credit adjustments Balance at beginning of year
1,204
Own credit adjustments
(23,022)
Balance at end of period
(21,818)
Balance at end of period
497,126
Common stock held in treasury Balance at beginning of year
(155,093)
Repurchases of common stock
(18,532)
Sale of common stock
0
Common stock issued to employees
30,664
Balance at end of period
(142,961)
Total NHI shareholders’ equity
Balance at end of period 3,775,312
Noncontrolling interests
Balance at beginning of year 147,047
Net change during the period 3,404
Balance at end of period 150,451
Total equity
Balance at end of period 3,925,763
- Segment Information – Operating Segment
Nomura’s Chief Operating Decision Maker is the Executive Management Board (the “EMB”) which is the management function primarily responsible for assessing performance of and allocating resources to the business segments. The EMB reviews business segment results including Net revenue, Non-interest expenses, and Income before income taxes on a regular basis. The EMB uses these measures along with certain segment-specific Key Performance Indicators (KPIs) and budgets to evaluate segment performance and to make key operating decisions, including resource and capital allocations. Business segments’ information on total assets is not disclosed as EMB does not consider such information for its operating decisions and therefore, it is not reported.
The following table shows business segment information and reconciliation items to the consolidated statements of income.
Millions of yen % Change For the six months ended
Net revenue
Business segment information:
September 30,
2025 (A)
September 30,
2026 (B)
(B-A)/(A)
Wealth Management
222,271
286,938
29.1
Investment Management
111,399
183,113
64.4
Wholesale
540,255
678,022
25.5
Banking
25,696
31,624
23.1
Subtotal
899,621
1,179,697
31.1
Other
137,526
103,121
(25.0)
Net revenue
1,037,147
1,282,818
23.7
Reconciliation items:
Unrealized gain (loss) on investments in equity
securities held for operating purposes
1,630
11,372
597.7
Net revenue
1,038,777
1,294,190
24.6
Non-interest expenses (*1)
Business segment information:
Wealth Management
137,993
150,287
8.9
Investment Management
59,161
110,744
87.2
Wholesale
445,207
538,635
21.0
Banking
18,902
23,627
25.0
Subtotal
661,263
823,293
24.5
Other
80,587
111,360
38.2
Non-interest expenses
741,850
934,653
26.0
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes
－ － －
Non-interest expenses 741,850 934,653 26.0
Income (loss) before income taxes
Business segment information:
Wealth Management
84,278
136,651
62.1
Investment Management
52,238
72,369
38.5
Wholesale
95,048
139,387
46.6
Banking
6,794
7,997
17.7
Subtotal
238,358
356,404
49.5
Other (*2)
56,939
(8,239)
—
Income (loss) before income taxes
295,297
348,165
17.9
Reconciliation items:
Unrealized gain (loss) on investments in equity
securities held for operating purposes
1,630
11,372
597.7
Income (loss) before income taxes
296,927
359,537
21.1
(*1) Includes primarily personnel expenses, occupancy, technology, and professional fees.
(*2) Major components
Transactions between operating segments are recorded within segment results on commercial terms and conditions, and are eliminated in “Other.” The following table presents the major components of income (loss) before income taxes in “Other.”
Millions of yen % Change For the six months ended
September 30,
2025 (A)
September 30,
2026 (B)
(B-A)/(A)
Net gain (loss) related to economic hedging transactions
901
(3,981)
—
Realized gain (loss) on investments in equity securities held for operating purposes
2,214
1,178
(46.8)
Equity in earnings of affiliates
24,769
21,897
(11.6)
Corporate items
(26,818)
(19,944)
—
Other
55,873
(7,389)
—
Total
56,939
(8,239)
—
- Semi-annual Consolidated Balance Sheets
- Supplementary Information
- Consolidated Statements of Income – Quarterly Comparatives
Millions of yen
% Change
Millions of yen
For the three months ended
For the year ended
June 30,
September 30,
December 31,
March 31,
June 30,
September 30,
(B-A)/(A)
March 31,
2025
2025
2025
2026
2026(A)
2026(B)
2026
Revenue:
Commissions
100,606
105,049
119,204
130,430
128,178
125,557
(2.0)
455,289
Fees from investment banking
38,357
44,554
59,045
58,592
56,236
57,165
1.7
200,548
Asset management and portfolio service fees
92,855
102,487
122,664
150,594
162,054
171,573
5.9
468,600
Net gain on trading
142,239
171,944
190,742
191,969
230,292
204,611
(11.2)
696,894
Gain on private equity and debt investments
6,330
4,370
1,564
340
564
5,372
852.5
12,604
Interest and dividends
649,561
652,830
712,469
654,780
698,543
732,432
4.9
2,669,640
Gain (loss) on investments in equity securities
(377) 4,365
4,488
4,590
6,792
6,157
(9.3)
13,066
Other
127,017
75,614
17,752
21,462
89,049
19,961
(77.6)
241,845
Total revenue
1,156,588
1,161,213
1,227,928
1,212,757
1,371,708
1,322,828
(3.6)
4,758,486
Interest expense
633,273
645,751
676,173
635,576
684,994
715,352
4.4
2,590,773
Net revenue
523,315
515,462
551,755
577,181
686,714
607,476
(11.5)
2,167,713
Non-interest expenses: Compensation and benefits
186,310
195,079
220,739
227,374
236,764
223,997
(5.4)
829,502
Commissions and floor brokerage
44,778
47,191
53,997
75,891
74,335
70,342
(5.4)
221,857
Information processing and communications
57,164
59,202
63,516
68,557
70,710
70,150
(0.8)
248,439
Occupancy and related depreciation
15,965
17,283
17,853
20,422
18,742
19,749
5.4
71,523
Business development expenses
6,992
7,272
9,993
9,422
8,500
8,698
2.3
33,679
Other
51,824
52,790
50,436
67,842
66,124
66,542
0.6
222,892
Total non-interest expenses
363,033
378,817
416,534
469,508
475,175
459,478
(3.3)
1,627,892
Income before income taxes
160,282
136,645
135,221
107,673
211,539
147,998
(30.0)
539,821
Income tax expense
52,808
40,852
40,675
31,104
55,416
41,540
(25.0)
165,439
Net income
107,474
95,793
94,546
76,569
156,123
106,458
(31.8)
374,382
Less: Net income attributable to noncontrolling interests
2,909
3,715
2,993
2,636
10,562
2,730
(74.2)
12,253
Net income attributable to NHI shareholders
104,565
92,078
91,553
73,933
145,561
103,728
(28.7)
362,129
Per share of common stock:
Yen
% Change
Yen
Basic-
Net income attributable to NHI shareholders per share
35.19
31.34
31.21
25.29
49.90
35.49
(28.9)
123.08
Diluted-
Net income attributable to NHI shareholders per share
34.04
30.49
30.19
24.34
48.34
34.61
(28.4)
118.99
- Business Segment Information – Quarterly Comparatives
The following table shows quarterly business segment information and reconciliation items to the consolidated statements of income.
Millions of yen
% Change
Millions of yen
For the three months ended
For the year ended
June 30,
September 30,
December 31, March 31,
June 30,
September 30,
(B-A)/(A)
March 31,
2025
2025
2025 2026
2026(A)
2026(B)
2026
Net revenue
Business segment information:
Wealth Management
105,796
116,475
132,488
133,147
145,417
141,521
(2.7)
487,906
Investment Management
50,574
60,825
60,906
86,211
98,314
84,799
(13.7)
258,516
Wholesale
261,072
279,183
313,899
308,075
369,097
308,925
(16.3)
1,162,229
Banking
12,845
12,851
13,696
14,526
15,244
16,380
7.5
53,918
Subtotal
430,287
469,334
520,989
541,959
628,072
551,625
(12.2)
1,962,569
Other
93,160
44,366
28,107
31,240
53,105
50,016
(5.8)
196,873
Net revenue
523,447
513,700
549,096
573,199
681,177
601,641
(11.7)
2,159,442
Reconciliation items:
Unrealized gain (loss) on investments in equity
(132)
1,762
2,659
3,982
5,537
5,835
5.4
8,271
securities held for operating purposes
Net revenue
523,315
515,462
551,755
577,181
686,714
607,476
(11.5)
2,167,713
Non-interest expenses (*1)
Business segment information:
Wealth Management
67,041
70,952
73,988
71,901
74,341
75,946
2.2
283,882
Investment Management
29,047
30,114
42,967
68,091
53,327
57,417
7.7
170,219
Wholesale
219,164
226,043
251,610
264,845
275,769
262,866
(4.7)
961,662
Banking
9,231
9,671
9,521
11,479
11,608
12,019
3.5
39,902
Subtotal
324,483
336,780
378,086
416,316
415,045
408,248
(1.6)
1,455,665
Other
38,550
42,037
38,448
53,192
60,130
51,230
(14.8)
172,227
Non-interest expenses
363,033
378,817
416,534
469,508
475,175
459,478
(3.3)
1,627,892
Reconciliation items:
Unrealized gain (loss) on investments in equity
—
—
—
—
—
—
—
—
securities held for operating purposes
Non-interest expenses
363,033
378,817
416,534
469,508
475,175
459,478
(3.3)
1,627,892
Income (loss) before income taxes
Business segment information:
Wealth Management
38,755
45,523
58,500
61,246
71,076
65,575
(7.7)
204,024
Investment Management
21,527
30,711
17,939
18,120
44,987
27,382
(39.1)
88,297
Wholesale
41,908
53,140
62,289
43,230
93,328
46,059
(50.6)
200,567
Banking
3,614
3,180
4,175
3,047
3,636
4,361
19.9
14,016
Subtotal
105,804
132,554
142,903
125,643
213,027
143,377
(32.7)
506,904
Other (*2)
54,610
2,329
(10,341)
(21,952)
(7,025)
(1,214)
—
24,646
Income (loss) before income taxes
160,414
134,883
132,562
103,691
206,002
142,163
(31.0)
531,550
Reconciliation items:
Unrealized gain (loss) on investments in equity
(132)
1,762
2,659
3,982
5,537
5,835
5.4
8,271
securities held for operating purposes
Income (loss) before income taxes
160,282
136,645
135,221
107,673
211,539
147,998
(30.0)
539,821
(*1) Includes primarily personnel expenses, occupancy, technology, and professional fees.
(*2) Major components
Millions of yen
% Change
Millions of yen
For the three months ended
For the year ended
June 30,
September 30, December 31, March 31,
June 30,
September 30,
(B-A)/(A)
March 31,
2025
2025
2025
2026
2026(A)
2026(B)
2026
1,067
(166)
(975)
(2,866)
(2,045)
(1,936)
—
(2,940)
5
2,209
1,129
6
1,190
(12)
—
3,349
12,321
12,448
17,642
(5,959)
10,492
11,405
8.7
36,452
(11,637)
(15,181)
(9,630)
(5,534)
(15,964)
(3,980)
—
(41,982)
52,854
3,019
(18,507)
(7,599)
(698)
(6,691)
—
29,767
54,610
2,329
(10,341)
(21,952)
(7,025)
(1,214)
—
24,646
Transactions between operating segments are recorded within segment results on commercial terms and conditions, and are eliminated in “Other.” The following table presents the major components of income (loss) before income taxes in “Other.”
Net gain (loss) related to economic hedging transactions
Realized gain (loss) on investments in equity securities held for operating purposes
Equity in earnings of affiliates Corporate items
Other Total
- Other
Quarterly financial information for Nomura Securities Co., Ltd. can be found at the following URL.
https://www.nomuraholdings.com/en/company/group/nsc/nsc/main/0112/teaserItems3/0/linkList/0/link/2027_2 q.pdf