Nomura (8604) investor relations material

Executive summary

• Net revenue for the year rose 14.5% year-over-year to JPY 2,167.7 billion, with net income up 6.3% to JPY 362.1 billion, marking a record high for the second consecutive year.

• Full year ROE reached 10.1%, meeting the target range for the second year in a row.

• Wealth Management and Wholesale segments achieved record income, driving overall earnings.

• Investment Management’s AuM rose over 50% YoY to a record JPY 137 trillion, with stable revenue growth.

• Annual dividend per share was JPY 51, with a payout ratio of 41%.

Financial highlights

• FY net revenue was JPY 2,167.7 billion (+14.5% YoY); income before income taxes was JPY 539.8 billion (+14.4% YoY); net income was JPY 362.1 billion (+6.3% YoY).

• Q4 net revenue was JPY 577.2 billion (+5% QoQ); income before income taxes was JPY 107.7 billion (-20% QoQ); net income was JPY 73.9 billion (-19% QoQ).

• Basic EPS for the year was JPY 123.08 (+6.7% YoY); diluted EPS was JPY 118.99 (+7.2% YoY).

• Total assets grew 10.3% to JPY 62,645.9 billion; total equity increased to JPY 3,854.9 billion.

• Group-wide expenses rose 13% quarter-on-quarter to JPY 469.5 billion, driven by impairment losses and regulatory changes.

Outlook and guidance

• No earnings or dividend forecasts provided for the year ending March 31, 2027, due to market uncertainties.

• Scheduled launch of deposit sweep service in FY2026/27 for Banking segment.

• Continued focus on expanding recurring revenue and maintaining a stable business base.

• The company aims to maintain ROE above 8%-10% and income before income taxes over JPY 500 billion, with ongoing cost controls and risk management.