Want to see NMR full AI Analyst Report?
EarningsQ1 2027 Earnings Report
NMR Q1 2027 EPS Results
Actual EPS$0.31
Consensus EPS$0.24
Beat/MissBeat by +$0.08
One Year Ago EPS$0.24
NMR Q1 2027 Revenue Results
Actual Revenue$8.61B
Expected Revenue$3.49B
Beat/MissBeat by +$5.11B
YoY Revenue Growth+7.60%
Earnings Announcement Details
QuarterQ1 2027
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
NMR Upcoming Earnings
Nomura Holdings's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q1 2027 Earnings Call Audio
NMR Q1 2027 Earnings Call
0:00 / 0:00
Q1 2027 Earnings Slide Deck
Q1 2027 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed predominantly positive momentum: strong, record or multi‑quarter best performances across Wealth Management, Investment Management and Wholesale drove ROE to 15.4% and supported improvements in recurring revenue and capital metrics. Management flagged manageable headwinds — AUM net outflows (notably ETFs), one‑time compensation effects, regional (EMEA) losses, seasonal July softness and elevated market volatility heading into H2 — but emphasized structural reforms, self‑funding discipline, cost control and targets toward 2030. On balance, the highlights (record profitability, recurring revenue growth, AUM highs and improved CET1) outweigh the lowlights.Company Guidance
Strong Overall Profitability and ROE
ROE reached 15.4% in Q1 (highest since Apr–Jun 2020) with all divisions posting higher revenue and income before income taxes versus the prior quarter; management raised 2030 ROE target range to 10%–12%+ and income before income taxes target to at least JPY 750 billion by 2030.
Wealth Management Growth and Recurring Revenue
Wealth Management net revenue rose 9% Q‑on‑Q to JPY 145.4 billion and income before income taxes rose 16% to JPY 71.1 billion; recurring revenue hit an all‑time high of JPY 59.2 billion with net inflows of recurring revenue assets at an all‑time high JPY 539.6 billion (17 consecutive quarters of net inflows); recurring revenue assets totaled JPY 31.7 trillion (all‑time high).
Investment Management Best Quarter Since Inception
Investment Management net revenue rose 14% Q‑on‑Q to JPY 98.3 billion and income before income taxes jumped 148% Q‑on‑Q to JPY 45.0 billion — the best performance since the division's April 2021 establishment; assets under management reached an all‑time high of JPY 156.4 trillion.
Wholesale Division Outperformance
Wholesale net revenue increased 20% Q‑on‑Q to JPY 369.1 billion and income before income taxes increased 116% to JPY 93.3 billion — both the best since the division's April 2010 establishment; revenue to modified RWA ratio rose to 9.3% on flexible resource allocation.
Global Markets: Equities and Fixed Income Strength
Global Markets net revenue rose 26% Q‑on‑Q to JPY 318.7 billion; equities revenue surged 41% to JPY 179.4 billion and fixed income rose 11% to JPY 139.2 billion, driven by client flows, derivatives growth and regional rollout.
Banking Division Momentum
Banking net revenue up 5% Q‑on‑Q to JPY 15.2 billion and income before income taxes up 19% to JPY 3.6 billion; deposit sweep service launched April 27 contributed to 19% growth in banking revenue to JPY 4.1 billion and growth in deposit balances and accounts.
Cost Control and Capital Position
Group‑wide expenses rose modestly by ~1% Q‑on‑Q to JPY 475.2 billion (benefitting from operating leverage); Common Equity Tier 1 (CET1) ratio improved to 12.9% (up 0.1 percentage point).
Progress on Strategic Goals and Stable Revenue Base
Management highlighted structural reform progress toward the 2030 vision: stable revenues expanded roughly 60% year‑on‑year; recurring revenue cost coverage ratio at 76%; international businesses (3 overseas regions) delivered record high income before income taxes since disclosure began (FY2008/09).
NMR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed