Nomura Holdings has unveiled a target to almost double its pretax profit by the end of the decade, as its Chief Executive Officer Kentaro Okuda seeks to build on last year’s earnings revival.
Japan’s biggest brokerage plans to generate income before taxes of more than ¥500 billion ($3.2 billion) by 2030 as part of a vision of "reaching for sustainable growth,” he said in a presentation to investors on Tuesday. He wants to improve profitability and limit volatility risk in the key wholesale division.
Nomura last year saw its annual profit grow for the first time since Okuda took charge in 2020 as the firm reaped the benefits of a revival in financial markets at home. Challenges persist, however, as costs remain elevated at the wholesale business that houses its trading and investment banking operations.