Nomura profit beats estimates on stock trading, M&A advisory
The bank aims to sustain an earnings revival that led to record profit last year
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[TOKYO] Nomura Holdings’ profit beat analysts’ expectations last quarter, buoyed by equity trading and advising on mergers.
Net income fell 6.4 per cent from a year earlier to 92.1 billion yen (S$784.3 million) in the fiscal second quarter ended Sept 30, Japan’s biggest brokerage said in a statement on Tuesday (Oct 28). That exceeded the 70.1 billion yen average of three analyst estimates compiled by Bloomberg.
Chief executive officer Kentaro Okuda is trying to sustain an earnings revival that led to record profit last year, supported by Japan’s buoyant stock market and retail investment boom.
Major US banks delivered double-digit profit gains last quarter as their traders made the most of volatility and bankers reaped fees from deals. BLOOMBERG
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