TOKYO, April 24 : Japan’s largest investment bank and brokerage Nomura reported a 3 per cent rise in fourth-quarter net profit on Friday, as wealth management-related revenues rose and its wholesale division capitalised on buoyant markets and dealmaking.
Nomura’s net income rose to 73.9 billion yen ($462.60 million) for the January-March quarter, up from 72 billion yen over the same period a year earlier.
It generated its highest ever annual income of 362.1 billion yen, beating the previous record of 340.7 billion last year.
The record results show the fruits of Nomura’s multi-year effort to build a business model centred on stable fee-based revenues that are less exposed to oscillating market conditions.
Nomura has developed a dominant position in Japan’s wealth management market with a strong base of recurring fee revenues. It also benefitted from the flow fees generated by market volatility over the quarter.
The wholesale division, which houses Nomura’s investment banking and trading arms, booked its highest annual revenue since the division was established in April 2010.
($1 = 159.7500 yen)