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Nomura (8604) investor relations material
Nomura Q2 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 FY2027 ROE was 13.3%, up from 11.3%; Q2 ROE was 10.9%, within the 2030 target range of 10%–12% or higher.
H1 pretax income across the four business segments rose ~50% YoY, while stable revenue grew ~60% as asset-management-based businesses expanded.
Financial highlights
H1 net revenue rose 24.6% YoY to ¥1,294.2bn; pretax income increased 21.1% to ¥359.5bn and net income rose 26.8% to ¥249.3bn.
Q2 net revenue was ¥607.5bn, down 11.5% QoQ; pretax income was ¥148.0bn, down 30.0%, and net income was ¥103.7bn, down 28.7%.
Q2 diluted EPS was ¥34.61; non-interest expenses were ¥459.5bn, down 3% QoQ but up 21% YoY.
H1 non-interest expenses rose 26.0% YoY to ¥934.7bn; total revenue increased 16.3% to ¥2,694.5bn.
Outlook and guidance
The 2030 Management Vision targets ROE of 10%–12% or more; management plans to pursue growth opportunities while controlling costs and taking appropriate risk.
No earnings or dividend forecast was issued amid global capital-market uncertainty; the FY2027 fourth-quarter dividend remained unconfirmed.
October Wealth Management revenue was near Q2 levels; Wholesale started more slowly, with management expecting monetization to improve its cost ratio in H2.
Wholesale expense-ratio improvement is a medium- to long-term goal supported by structural cost measures, technology investment, AI, scale and operating leverage.
Investment Banking cited a robust DCM pipeline and corporate financing demand amid a shift from government to corporate bond issuance.
- Stronger governance supports higher 2030 targets and disciplined growth.8604
Corporate presentation - Strong growth targets and digital transformation drive expansion across all business divisions.8604
Investor presentation - Record ROE and earnings growth driven by robust international and segment performance.8604
Q1 2027 - Record-high profits and global expansion drive upward revisions to long-term targets.8604
Investor presentation - 2030 targets raised: ROE 10-12%+, JPY 750B+ pre-tax income, and accelerated asset growth.8604
Investor Day 2026 - Net revenue and income hit records, led by Wealth and Wholesale, with robust capital ratios.8604
Q4 2026 - Net income and ROE reached multi-year highs, driven by strong segment growth and cost control.8604
Q2 2025 - Net income surged 105% YoY, with robust segment growth and major strategic initiatives underway.8604
Q4 2025 - Net income and segment earnings reached multi-year highs, with strong ROE and record revenue.8604
Q3 2025
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