Nomura soars to 16-year high as profit jump cements recovery
Nomura Holdings' shares have jumped to their highest in 16 years after Japan's biggest brokerage doubled third-quarter profit and beat market estimates on robust trading and cost cuts.
The stock climbed as much as 7.7% to ¥1,077 in Tokyo on Thursday morning, the highest level since October 2008. Net income doubled from a year earlier to ¥101.4 billion ($665 million) in the three months ended Dec. 31, hitting a four-year peak.
CEO Kentaro Okuda has steered Nomura to an earnings recovery, even as it grapples with the fallout from a pair of scandals in recent months. Japanese brokerages are benefiting from elevated trading and dealmaking activity, along with a growing investment appetite among individual clients seeking to protect their wealth from the emergence of inflation at home.
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Kyodo News
an hour ago
- Kyodo News
Panel to propose Japan weigh defense spending above 2% of GDP
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Yomiuri Shimbun
5 hours ago
- Yomiuri Shimbun
‘Golden Share' Served as Solution in Trump's Approval of U.S. Steel Acquisition; Solution Found but Challenges Remain
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Nikkei Asia
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Nissan CEO denies eroding Renault partnership despite looser cross ties
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