Nomura sees 30% increase in wholesale revenue as boom persists

[TOKYO] Nomura said revenue in its key trading and investment-banking businesses has risen sharply so far this quarter, a sign that the earnings momentum which led to record profit last year is persisting. 

Revenue at its wholesale division is “progressing more than 30 per cent higher year on year” in the current quarter as at Jun 12, the company said.

The gains were “driven primarily by equity products”, it added.

Shares of Nomura jumped as much as 4.5 per cent after the company issued the guidance, taking this year’s advance to 12 per cent.  

Japanese stocks are trading at a record and companies are pursuing mergers and fundraising deals, providing tailwinds for the nation’s securities companies.

Headed by Wall Street veteran Christopher Willcox, Nomura’s wholesale team posted a 10 per cent revenue increase last fiscal year, generating more than half of the company’s overall income. 

The sign of strength in stock trading also comes as major US banks benefit from market volatility.

Bank of America, JPMorgan Chase and Citigroup have all flagged that they expect double-digit windfalls from trading this quarter. 

Nomura is likely to beat consensus estimates for a flat top line of about 2.2 trillion yen (S$17.6 billion) in the year ended March 2027, said Francis Chan, a senior Bloomberg Intelligence analyst, citing the wholesale earnings guidance.

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Average daily turnover of cash equities on the Tokyo Stock Exchange has surged 68 per cent so far in 2026, a trend that “should support equity-related revenue” at the Tokyo-based company, he added. BLOOMBERG