ENP Newswire - 31 January 2014 Release date- 30012014 - Nomura Holdings, Inc. today announced its consolidated financial results for the third quarter of the fiscal year ending March 31, 2014 . Net revenue for the third quarter was 379.4 billion yen ( US$3.6 billion)1 , income before income taxes was 86.9 billion yen ( US$826 million ), and net income attributable to Nomura Holdings shareholders was 48.3 billion yen ( US$459 million ). 'We demonstrated consistent performance across all of our core businesses in the third quarter, reporting growth in revenues and pretax income compared to the previous quarter,' said Koji Nagai , Group Chief Executive Officer. 'Our results were driven by our robust Retail business which saw increased demand for stocks and investment trusts on the back of the market rally in Japan . Asset Management booked higher pretax income as assets under management climbed to their highest level ever on inflows into investment trusts and from institutional investors around the world. 'Wholesale posted an increase in revenues and pretax income driven by continued strong revenues in Fixed Income, private equity unrealized gains in Investment Banking, and initiatives taken to lower the division's break-even point. 'Looking ahead, we remain well positioned to connect markets east and west as Asia's global investment bank to deliver value-added products and services for our clients and contribute to economic growth.' Divisional Performance Retail FY2013/14 Q3 QoQ YoY Net revenue Y128bn +7% +34% Income before income taxes Y47.7bn +19% +135% Net revenue in Retail increased 7 percent quarter on quarter and 34 percent year on year to 128 billion yen . Income before income taxes grew 19 percent from the prior quarter and 135 percent over the same period last year to 47.7 billion yen . Demand for stocks and investment trusts grew during the quarter as retail investors took on more risk on the back of the market rally and yen depreciation. Retail client assets climbed to a record 96 trillion yen supported by favorable market conditions. As of the end of December 2013 , applications for Nippon Individual Savings Accounts (NISA) totaled 1.16 million. Asset Management FY2013/14 Q3 QoQ YoY Net revenue Y21.2bn +14% +13% Income before income taxes Y8.9bn +45% +22% Asset Management reported net revenue of 21.2 billion yen , up 14 percent from the previous quarter and 13 percent compared to the third quarter last year. Income before income taxes jumped 45 percent sequentially and 22 percent year on year to 8.9 billion yen . Net assets under management reached a record 32.9 trillion yen driven by new fund inflows and robust market conditions. The investment trust business saw inflows into investment trusts, mainly for stocks, while the investment advisory business booked inflows from an additional mandate in Japan to manage bonds for a public pension fund, and internationally from a diverse range of products such as stocks and bonds. Wholesale FY2013/14 Q3 QoQ YoY Net revenue Y188.7bn +3% -0.2% Income before income taxes Y27.8bn +10% -37% Wholesale booked net revenue of 188.7 billion yen , up 3 percent from last quarter and roughly flat year on year. Income before income taxes increased 10 percent quarter on quarter to 27.8 billion yen , representing a decline of 37 percent compared to the same quarter last year. Higher revenues in Japan and the Americas led to an improved revenue mix across regions. Global Markets reported net revenue in line with the prior quarter on stronger revenues in Fixed Income in EMEA and the Americas . Fixed Income net revenue rose quarter on quarter as Credit and Securitized Products revenues increased due to the improved market environment. While Equities net revenue softened from the previous quarter due to a slowdown in the Derivatives business, stronger flows from primary transactions contributed to robust revenues in Cash Equities . Investment Banking revenues declined in Japan due to a reduction in the overall fee pool and large ECM transactions. However, internationally IPOs drove growth in ECM related revenues. Financial Position Nomura maintains a robust financial position and a healthy balance sheet. As of the end of December, Nomura's total capital ratio was 14 percent and its Tier 1 ratio was 12 percent under Basel 3. Nomura had total assets of 43.6 trillion yen and shareholders' equity of 2.5 trillion yen . Gross leverage was 17.5 times and net leverage was 10.9 times. All figures are on a preliminary basis. Nomura Nomura is an Asia -based financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com .
Most Popular Stories
- Koch Brothers Step up Anti-Obamacare Campaign
- FDIC Accuses Big Banks of Fraud, Conspiracy
- Is Malaysian Airlines Flight 370 in Andaman Sea?
- Vybz Kartel Convicted of Murder
- Stocks Close Lower Ahead of Crimea Vote
- FDIC Sues Big Banks Over Rate Manipulation
- Ulta Shares Look Good on Strong Q4
- Jittery Investors Dumping Russian Stocks
- U.S. Consumer Sentiment Falls in Early March
- JLo Turns the Tables in New Vid: 'I Luh Ya Papi'