30.04.2015, 10:07
Nomura Reports Fourth Quarter and Full Year Financial Results
OREANDA-NEWS. Nomura Holdings, Inc. today announced its consolidated financial
results for the fourth quarter and full year ended March 2015.
For the full year period, net revenue was 1,604.2 billion yen (US\$13.4 billion) 1 , representing an increase of 3 percent year on year. Income before income taxes decreased by 4 percent from the prior year to 346.8 billion yen (US\$2.9 billion) and net income attributable to Nomura Holdings shareholders increased by 5 percent to 224.8 billion yen (US\$1.9 billion).
Fourth quarter net revenue was 434.5 billion yen (US\$3.6 billion), increasing 2 percent quarter on quarter and 11 percent year on year.
Income before income taxes from the three business segments increased 68 percent quarter on quarter and 63 percent year on year to 101.4 billion yen (US\$845 million) on the back of a significant improvement in Wholesale profitability. Group-wide income before income taxes declined 10 percent from last quarter and increased 19 percent from the same period last year to 105 billion yen (US\$875 million). The quarterly decline was due to factors not included in the three business segments such as losses related to changes to Nomura’s credit spread, a decline in earnings of affiliates, and lower unrealized gains on securities.
Net income increased to 82 billion yen (US\$684 million), the highest level in two years driven by improved profitability in the firm’s international business.
Commenting on the results, Nomura’s Group CEO, Koji Nagai, said: “We reported another solid set of full year results, booking the highest level of net income in nine years. Earnings per share was 60 yen, beating our 50 yen target for the second consecutive year.
“Retail client assets grew to 109.5 trillion yen and we achieved our annualized recurring revenue target one year ahead of schedule, underscoring progress in transforming our Retail business model. Asset Management reported higher revenues and pretax income as assets under management climbed to a record high on continued inflows. Although Wholesale slowed due to challenging market conditions, high-profile transactions and strong performance in Asia ex-Japan contributed to earnings. “Looking ahead, we remain well positioned to connect markets east and west as Asia’s global investment bank to deliver value-added products and services for our clients and contribute to economic growth.”
Financial Position
Nomura maintains a robust financial position and a healthy balance sheet. As of the end of March, Nomura’s total capital ratio was 14.8 percent and its Tier 1 ratio was 12.9 percent under Basel 3. Nomura had total assets of 41.8 trillion yen and shareholders’ equity of 2.7 trillion yen. Gross leverage was 15.4 times and net leverage was 9.3 times. All figures are on a preliminary basis. 2 Undertakings for Collective Investment in Transferable Securities (UCITS) is the main European framework covering collective investment schemes investing in transferable securities.
Shareholder Returns
Nomura today declared a year-end dividend of 13 yen per share to shareholders of record as of March 31, 2015. The dividend will be paid on June 2, 2015. Accordingly, the annual dividend for the year ended March 2015 will total 19 yen per share.
Nomura is an Asia-based financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership.
For the full year period, net revenue was 1,604.2 billion yen (US\$13.4 billion) 1 , representing an increase of 3 percent year on year. Income before income taxes decreased by 4 percent from the prior year to 346.8 billion yen (US\$2.9 billion) and net income attributable to Nomura Holdings shareholders increased by 5 percent to 224.8 billion yen (US\$1.9 billion).
Fourth quarter net revenue was 434.5 billion yen (US\$3.6 billion), increasing 2 percent quarter on quarter and 11 percent year on year.
Income before income taxes from the three business segments increased 68 percent quarter on quarter and 63 percent year on year to 101.4 billion yen (US\$845 million) on the back of a significant improvement in Wholesale profitability. Group-wide income before income taxes declined 10 percent from last quarter and increased 19 percent from the same period last year to 105 billion yen (US\$875 million). The quarterly decline was due to factors not included in the three business segments such as losses related to changes to Nomura’s credit spread, a decline in earnings of affiliates, and lower unrealized gains on securities.
Net income increased to 82 billion yen (US\$684 million), the highest level in two years driven by improved profitability in the firm’s international business.
Commenting on the results, Nomura’s Group CEO, Koji Nagai, said: “We reported another solid set of full year results, booking the highest level of net income in nine years. Earnings per share was 60 yen, beating our 50 yen target for the second consecutive year.
“Retail client assets grew to 109.5 trillion yen and we achieved our annualized recurring revenue target one year ahead of schedule, underscoring progress in transforming our Retail business model. Asset Management reported higher revenues and pretax income as assets under management climbed to a record high on continued inflows. Although Wholesale slowed due to challenging market conditions, high-profile transactions and strong performance in Asia ex-Japan contributed to earnings. “Looking ahead, we remain well positioned to connect markets east and west as Asia’s global investment bank to deliver value-added products and services for our clients and contribute to economic growth.”
Financial Position
Nomura maintains a robust financial position and a healthy balance sheet. As of the end of March, Nomura’s total capital ratio was 14.8 percent and its Tier 1 ratio was 12.9 percent under Basel 3. Nomura had total assets of 41.8 trillion yen and shareholders’ equity of 2.7 trillion yen. Gross leverage was 15.4 times and net leverage was 9.3 times. All figures are on a preliminary basis. 2 Undertakings for Collective Investment in Transferable Securities (UCITS) is the main European framework covering collective investment schemes investing in transferable securities.
Shareholder Returns
Nomura today declared a year-end dividend of 13 yen per share to shareholders of record as of March 31, 2015. The dividend will be paid on June 2, 2015. Accordingly, the annual dividend for the year ended March 2015 will total 19 yen per share.
Nomura is an Asia-based financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership.
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