The Japanese investment bank and brokerage firm, Nomura, recorded a net profit of $113.9 million in the third quarter of this year. The figure is equal to 16.8 billion Japanese Yen for fiscal 2022.
Insufficient Rise
The latest figure is a 9.9% quarter-on-quarter increase and a 5.2% year-on-year increase. The recorded increase seems quite impressive on the surface but it was still relatively weak. It was increased while the firm booked charges on a US mortgage loan of 39 billion Yen from ten years ago. The company’s Chief Financial Officer equally agreed during a press chat that the results were below par. According to the CTO, Takumi Kitamura, he said the profits did not reach satisfaction.
The banking and investment giant said it finished the third quarter with a net income of $2.2 billion or 318 billion Yen. The figure is 6% higher than what came in during the second quarter. However, it was 0.3% lower than its year-on-year record. Nomura’s pre-tax generated income was $218 million or 31.5 billion Yen.
The company’s business facets are classified into three parts. It does investment management, retail, and wholesale. The investment management and retail revenues lost momentum in the third quarter. But the wholesale segment got relative strength. The pre-tax income from the three arms of the company recorded a lower inflow from the same time in 2021.
Strong Market Forces
There has been a significantly low demand for equity underwriting and bonds this year. The revenue accrued to the investment management, therefore, was 26.2 billion Yen. A staggering 24% low from the third quarter of 2021. The segment’s pre-tax income was also lower by 63%. It eventually settled at 56 billion Yen.
The company’s retail arm, on another hand, generated a revenue of 72.5 billion Yen. It was a 15% loss. But the wholesale arm performed differently by securing 72.5 billion Yen in revenue. The wholesale revenue is a 19% increase from the previous quarter. The retail arm’s year-on-year revenue was 68% low to reach 5.5 billion. Whereas, it plunged by 19% on the wholesale front to hit 20.2 billion.
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