NOMURA Holdings unveiled a target to almost double pretax profit by the end of the decade, as 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 yen (S$4.3 billion) by 2030 as part of a vision of “reaching for sustainable growth”, Okuda said in a presentation to investors on Tuesday (May 14).
He wants to improve profitability and limit performance volatility risk in the key wholesale division, according to the presentation.
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 division that houses its trading and investment banking operations.
The company maintained a 288 billion yen target for combined pretax profit at the three main business segments for the current fiscal year.
Nomura identified India and the Middle East as growth opportunities. In India, the firm said it plans to invest in its onshore platform to deepen its client franchise across all business lines, while in the Middle East, it plans for revenue growth in its wholesale business focused on larger accounts. BLOOMBERG
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