Nomura’s profit rose more than analysts expected last quarter, as Japan’s biggest brokerage joined Wall Street banks in posting trading gains from volatile equity markets after Donald Trump took office.
Fees from dealmaking also helped net income climb 27% from a year earlier to ¥72 billion ($501 million) in the three months ended March 31, the Tokyo-based firm said in a statement Friday. That beat the ¥63.9 billion average of five analyst estimates.
The result caps a record year of profits, helped by robust trading and dealmaking and a resurgence in investing by Japanese individuals. Nomura is in expansion mode again, with news this week that it will acquire an asset management business for $1.8 billion and is considering getting back into cash prime brokerage operations in the U.S. and Europe.
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