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| Nomura posts Q2 profit at 27.7 bn yen |
| Press Trust of India / Tokyo/New Delhi Oct 28, 2009, 17:45 IST |
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Financial services major Nomura Holdings has posted a profit of 27.72 billion yen in the second quarter, buoyed by strong growth in retail and asset management segments and expansion of its business overseas.
Nomura, which last year acquired Lehman Brothers' operations in Asia, Europe and Middle East, had a net loss of 72.87 billion yen in the corresponding period a year-ago.
"After one year of combined operations, the acquisitions have been a rounding success. These quarterly results demonstrate the solid performance of our retail and asset management businesses and the expansion of our international revenue base," Nomura President and CEO Kenichi Watanabe said in a statement.
Moreover, Nomura has also declared a dividend of four yen per common share, which is expected to be payable on December 1, 2009.
Net revenue for the second quarter stood at 300 billion yen, compared to 128.06 billion yen in the year-ago period.In retail business, the company's pretax income was 26.4 billion yen, while net revenue stood at 93.2 billion yen.
Nomura's asset management booked income before tax at 4.5 billion yen and registered a net revenue of 16.5 billion yen in the second quarter.
The company has recorded net asset inflows of 320 billion yen in the September quarter, the "highest in the Japanese asset management industry".
Nomura's second quarter also reflect the company's strong base in Japan and its new platform established overseas. The brokerage firm increased its market share in Europe and Asia by expanding its client base and flow in businesses.
Japanese firm has recorded a pretax income of 46.7 billion yen from global operations, while it recorded a net revenue of 174.5 billion yen in the September quarter of the year.
In the investment banking segment, the company generated 20.9 billion yen in revenue, but booked a pretax loss of 9.7 billion yen.
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