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Nomura Q1 profit jumps, outlook moderates

NEWS

July 30, 2026 at 03:14 UTC

2 min read
Investment bank headquarters in financial district illustrating Q1 profit jump and moderating outlook

Key Points

  • 01Nomura’s Q1 net income rose 39% year-on-year to ¥145.6 billion
  • 02Net revenue reached ¥686.7 billion with income before taxes at ¥211.5 billion
  • 03Group return on equity for the quarter stood at 15.4%
  • 04Management flagged slower July wholesale revenue after an unusually strong Q1

Strong start to Nomura’s fiscal year

Nomura Holdings opened its fiscal year with significantly higher earnings, reporting that net income for the first quarter ended June 30 rose 39% from a year earlier to ¥145.6 billion. The performance marks one of the firm’s strongest quarters, supported by a boom in stock trading and improved profitability across businesses.

Net revenue for the period totaled ¥686.7 billion, while income before income taxes reached ¥211.5 billion. Pretax income from all four divisions came to ¥213.0 billion, underscoring broad-based contributions rather than reliance on a single segment.

The firm’s group return on equity for the quarter was 15.4%, reflecting the impact of higher revenues and operating leverage. The results place the quarter among Nomura’s best on record in terms of profitability.

Division performance and earnings drivers

Pretax income from each of Nomura’s four divisions contributed to the overall total of ¥213.0 billion, indicating that both domestic and international operations participated in the earnings increase. The strong performance aligned Nomura with global peers that have benefited from heightened activity in equity markets.

The rise in net income and revenue was supported by robust trading conditions in the first quarter. Management highlighted that the period was unusually strong, particularly for businesses tied to markets, reinforcing the scale of the earnings uplift.

Management outlook and signs of moderation

While emphasizing the solid quarterly results, management pointed to early signs of moderation in activity. They stated that July wholesale revenue had "slowed somewhat" compared with the unusually strong first quarter and was "more or less flat" year-on-year.

Executives noted that summer is typically a softer season, which can weigh on near-term trading revenue. They indicated that equities should remain strong but not at the same exceptional level as in the first quarter, signaling more normalized conditions ahead.

Despite this moderation, the wholesale division’s pipeline was described as "favorable," suggesting continued business opportunities even if the pace of revenue growth slows. The combination of strong first-quarter results and a more measured outlook frames expectations for the remainder of the fiscal year.

Key Takeaways

  • 01Nomura delivered one of its strongest quarters, with earnings growth supported by all four divisions and a double-digit return on equity.
  • 02Management views the first quarter as unusually strong and is preparing stakeholders for more typical trading conditions in subsequent months.
  • 03The outlook combines a favorable wholesale pipeline with acknowledgment that equity and wholesale revenues are unlikely to match the exceptional first-quarter pace.

References

  1. https://www.bloomberg.com/news/articles/2026-07-29/nomura-profit-beats-estimates-on-equity-trading-boom
  2. https://investing.com/news/transcripts/earnings-call-transcript-nomura-posts-strong-q1-2026-results-stock-barely-moves-93CH-4819454
  3. https://www.investing.com/news/transcripts/earnings-call-transcript-nomura-posts-strong-q1-2026-results-stock-barely-moves-93CH-4819454
  4. https://finance.biggo.com/news/US_NMR_2026-07-29
Nomura Q1 profit jumps, outlook moderates | Trading Dashboard