Japan's Nomura Q1 net profit jumps on strong domestic stock market

A logo of Nomura Holdings is pictured in Tokyo, Japan, December 1, 2015. REUTERS/Toru Hanai//File Photo, Japan's biggest brokerage and investment bank, on Tuesday reported a jump in first-quarter net profit, driven by a strong stock market performance at home.

But the profit level is still subdued compared with Nomura's core pre-tax income target of 288 billion yen for the year to March 2025, a bullish goal for CEO Kentaro Okuda who has faced three years of profit declines since taking the top job in 2020. Inflows into its core investment trusts and alternatives pushed up assets under management to 76.1 trillion yen as of the end of June, up from 67.3 trillion yen three months ago.

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