Nomura Holdings, Inc., a Japanese financial services company, has announced its financial results for its fiscal year ended on the 31st of March, 2020, this Friday, revealing a positive uptick for the company.
During the 12 month period, Nomura posted total revenue of ¥1.952 trillion (around $18.4 billion). When measuring this against the previous year, which posted the first full-year loss for Nomura in a decade, revenues have increased by 6.4 percent.
This is almost a recovery from the 6.9 percent decline in revenues recorded by Nomura in its 2019 fiscal year. Net revenue for the year was ¥1.288 billion, which is higher by 15 percent year-on-year.
Unlike the previous year, which noted an income loss before income taxes of ¥37.70 billion, the year ended on the 31st of March 2020 achieved an income before income taxes of ¥248.3 billion.
Nomura posts loss for Q4
Taking a look at the fourth quarter of the 2020 fiscal year, which was the first three months of this year, the Tokyo-headquartered company reported net revenue of ¥237.5 billion, which is lower than the previous quarter by 29 percent. It is also lower by 21 percent year-on-year.
During the three month period, Nomura recorded a loss before income taxes of ¥24.7 billion, and net loss attributable to Nomura Holdings shareholders was ¥34.5 billion.
Commenting on the results, Nomura President and Group CEO Kentaro Okuda said in the statement: "In April last year, we announced plans to rebuild our business platform. As a result of our ongoing initiatives and our continued focus on providing solutions to our clients in areas where we have a competitive advantage, pretax income from our three core businesses rebounded strongly from last year.
"... Asset Management booked its fifteenth straight quarter of inflows. Wholesale profitability improved substantially, driven by a significant improvement in Fixed Income revenues and cost reductions exceeding our initial plan."
"In the fourth quarter, amid market turbulence due to the global spread of Coronavirus , we continued to service our clients' Liquidity needs, achieving significantly stronger quarter on quarter performance in Cash Equities, Rates, and our FX/EM businesses. The market downturn in March led to unrealized losses, pushing revenues down and resulting in an overall loss."
