Nomura Holdings, Inc. (NMR) Q1 2024 Earnings Call Transcript

Nomura Holdings, Inc. (NYSE:NMR) Q1 2024 Earnings Conference Call August 1, 2023 5:30 AM ET

Company Participants

Takumi Kitamura – Chief Financial Officer

Conference Call Participants

Natsumu Tsujino – SMBC Morgan Stanley Securities

Masao Muraki – SMBC Nikko Securities

Kazuki Watanabe – Daiwa Securities

Koichi Niwa – Citigroup Securities


Good day, everyone and welcome to today’s Nomura Holdings First Quarter Operating Results for Fiscal Year Ending March 2024 Conference Call. Please be reminded that today’s conference call is being recorded at the request of the hosting company. If you have any objections, you may disconnect at this point in time. [Operator Instructions] Please note that this telephone conference contains forward-looking statements and other projected result, which involve known and unknown risks, delays, uncertainties and other factors not under the company’s control, which may cause actual result, performance or achievement of the company to be materially different from the result, performance or other expectations implied by those projections. Such factors include economic and market conditions, political events and investor sentiment, liquidity of secondary markets, level and volatility of interest rates, currency exchange rates, security valuations, competitive conditions and size number and timing of transactions.

With that, we would like to begin the conference. Mr. Takumi Kitamura, Chief Financial Officer, please go ahead.

Takumi Kitamura

Good evening. This is Takumi Kitamura, CFO of Nomura Holdings. I will now give you an overview of our financial results for the first quarter of the year ending March 2024. Please turn to Page 2 of the document. Group-wide net revenue was JPY348.9 billion, up 7% quarter-on- quarter; pretax income increased 104% to JPY46.3 billion; net income was JPY23.3 billion, 3.2x higher than the previous quarter; EPS was JPY7.4; and annualized ROE was 2.9%. During the first half of the quarter, international market participants sat on the sidelines due to the bankruptcies of U.S. regional banks and the debt ceiling issue. Concerns of

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