Reported Earnings • Jul 11
First quarter 2027 earnings released: EPS: JP¥12.77 (vs JP¥27.11 in 1Q 2026) First quarter 2027 results: EPS: JP¥12.77 (down from JP¥27.11 in 1Q 2026). Revenue: JP¥35.7b (down 12% from 1Q 2026). Net income: JP¥1.43b (down 53% from 1Q 2026). Profit margin: 4.0% (down from 7.4% in 1Q 2026). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Board Change • May 13
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Chihiro Kanai was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 09
NOMURA Co., Ltd. to Report Q1, 2027 Results on Jul 09, 2026 NOMURA Co., Ltd. announced that they will report Q1, 2027 results on Jul 09, 2026 Announcement • Apr 14
NOMURA Co., Ltd., Annual General Meeting, May 28, 2026 NOMURA Co., Ltd., Annual General Meeting, May 28, 2026. Announcement • Mar 24
NOMURA Co., Ltd. to Report Fiscal Year 2026 Results on Apr 24, 2026 NOMURA Co., Ltd. announced that they will report fiscal year 2026 results on Apr 24, 2026 Price Target Changed • Jan 23
Price target increased by 15% to JP¥1,900 Up from JP¥1,650, the current price target is provided by 1 analyst. New target price is 36% above last closing price of JP¥1,397. Stock is up 52% over the past year. The company is forecast to post earnings per share of JP¥81.82 for next year compared to JP¥60.60 last year. Reported Earnings • Jan 10
Third quarter 2026 earnings released: EPS: JP¥18.62 (vs JP¥12.41 in 3Q 2025) Third quarter 2026 results: EPS: JP¥18.62 (up from JP¥12.41 in 3Q 2025). Revenue: JP¥40.7b (up 12% from 3Q 2025). Net income: JP¥2.08b (up 50% from 3Q 2025). Profit margin: 5.1% (up from 3.8% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Professional Services industry in Japan are expected to grow by 6.7%. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Nov 03
NOMURA Co., Ltd. to Report Q3, 2026 Results on Jan 09, 2026 NOMURA Co., Ltd. announced that they will report Q3, 2026 results on Jan 09, 2026 New Risk • Oct 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.7% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (320% cash payout ratio). Reported Earnings • Oct 10
Second quarter 2026 earnings released: EPS: JP¥12.71 (vs JP¥2.20 in 2Q 2025) Second quarter 2026 results: EPS: JP¥12.71 (up from JP¥2.20 in 2Q 2025). Revenue: JP¥39.7b (up 38% from 2Q 2025). Net income: JP¥1.42b (up 479% from 2Q 2025). Profit margin: 3.6% (up from 0.8% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Professional Services industry in Japan are expected to grow by 6.9%. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 13
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥155.5b to JP¥158.0b. EPS estimate increased from JP¥64.53 to JP¥71.70 per share. Net income forecast to shrink 12% next year vs 20% growth forecast for Professional Services industry in Japan . Consensus price target up from JP¥1,400 to JP¥1,650. Share price rose 5.1% to JP¥1,022 over the past week. Announcement • Jul 26
NOMURA Co., Ltd. to Report Q2, 2026 Results on Oct 09, 2025 NOMURA Co., Ltd. announced that they will report Q2, 2026 results on Oct 09, 2025 Reported Earnings • Jul 12
First quarter 2026 earnings released: EPS: JP¥27.11 (vs JP¥5.44 in 1Q 2025) First quarter 2026 results: EPS: JP¥27.11 (up from JP¥5.44 in 1Q 2025). Revenue: JP¥40.8b (up 40% from 1Q 2025). Net income: JP¥3.02b (up 399% from 1Q 2025). Profit margin: 7.4% (up from 2.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Professional Services industry in Japan are expected to grow by 6.6%. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Price Target Changed • May 03
Price target increased by 7.7% to JP¥1,400 Up from JP¥1,300, the current price target is provided by 1 analyst. New target price is 68% above last closing price of JP¥834. Stock is down 0.5% over the past year. The company is forecast to post earnings per share of JP¥64.53 for next year compared to JP¥60.60 last year. Announcement • Apr 27
NOMURA Co., Ltd. to Report Q1, 2026 Results on Jul 10, 2025 NOMURA Co., Ltd. announced that they will report Q1, 2026 results on Jul 10, 2025 Major Estimate Revision • Apr 17
Consensus EPS estimates increase by 35% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥149.5b to JP¥156.0b. EPS estimate increased from JP¥48.41 to JP¥65.40 per share. Net income forecast to grow 8.0% next year vs 15% growth forecast for Professional Services industry in Japan. Consensus price target of JP¥1,300 unchanged from last update. Share price fell 4.2% to JP¥837 over the past week. Reported Earnings • Apr 11
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥60.60 (up from JP¥34.67 in FY 2024). Revenue: JP¥150.3b (up 12% from FY 2024). Net income: JP¥6.76b (up 75% from FY 2024). Profit margin: 4.5% (up from 2.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 16%. Revenue is forecast to stay flat during the next 2 years compared to a 7.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Apr 11
Nomura Co., Ltd. Announces Retirement of Shuji Enomoto as Representative Director, Effective from May 22, 2025 NOMURA Co., Ltd. announced at its meeting of the Board of Directors held on April 10, 2025, resolved the retiring of Shuji Enomoto as Representative Director. Reason for the change: Upon the expiration of his term of office as a director. Shuji Enomoto will be appointed as an advisor to the Company on the date of his retirement. Effective at the conclusion of the 88th Ordinary General Meeting of Shareholders to be held on May 22, 2025. Buy Or Sell Opportunity • Apr 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.8% to JP¥853. The fair value is estimated to be JP¥1,072, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years. Earnings per share has declined by 5.8%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 80% in the next 2 years. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 27 February 2025. Payment date: 26 May 2025. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (0.9%). Announcement • Feb 03
NOMURA Co., Ltd. to Report Fiscal Year 2025 Results on Apr 10, 2025 NOMURA Co., Ltd. announced that they will report fiscal year 2025 results on Apr 10, 2025 Major Estimate Revision • Jan 31
Consensus EPS estimates increase by 35% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥141.5b to JP¥149.0b. EPS estimate increased from JP¥38.58 to JP¥52.03 per share. Net income forecast to grow 53% next year vs 14% growth forecast for Professional Services industry in Japan. Consensus price target up from JP¥1,250 to JP¥1,300. Share price was steady at JP¥914 over the past week. Price Target Changed • Jan 30
Price target increased by 8.3% to JP¥1,300 Up from JP¥1,200, the current price target is provided by 1 analyst. New target price is 42% above last closing price of JP¥914. Stock is up 6.2% over the past year. The company is forecast to post earnings per share of JP¥52.03 for next year compared to JP¥34.67 last year. Reported Earnings • Jan 15
Third quarter 2025 earnings released: EPS: JP¥12.41 (vs JP¥7.44 in 3Q 2024) Third quarter 2025 results: EPS: JP¥12.41 (up from JP¥7.44 in 3Q 2024). Revenue: JP¥36.3b (up 2.0% from 3Q 2024). Net income: JP¥1.38b (up 67% from 3Q 2024). Profit margin: 3.8% (up from 2.3% in 3Q 2024). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 1% per year. Announcement • Jan 14
Nomura Appoints Sudhir Nemali as COO of International Wealth Management Nomura has announced the appointment of a COO for international wealth management. The firm has appointed Sudhir Nemali to the position. Nemali previously served as the COO for Deutsche Bank Private Bank's emerging markets and wealth management divisions. Buy Or Sell Opportunity • Dec 18
Now 20% undervalued Over the last 90 days, the stock has risen 3.7% to JP¥843. The fair value is estimated to be JP¥1,059, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 95% in the next 2 years. Announcement • Oct 26
NOMURA Co., Ltd. to Report Q3, 2025 Results on Jan 10, 2025 NOMURA Co., Ltd. announced that they will report Q3, 2025 results on Jan 10, 2025 Reported Earnings • Oct 18
Second quarter 2025 earnings released: EPS: JP¥2.20 (vs JP¥15.06 in 2Q 2024) Second quarter 2025 results: EPS: JP¥2.20 (down from JP¥15.06 in 2Q 2024). Revenue: JP¥28.9b (down 17% from 2Q 2024). Net income: JP¥245.0m (down 85% from 2Q 2024). Profit margin: 0.8% (down from 4.8% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Declared Dividend • Oct 12
Dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 27th February 2025 Payment date: 26th May 2025 Dividend yield will be 3.4%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (67% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 45% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jul 30
Price target increased by 11% to JP¥1,250 Up from JP¥1,125, the current price target is provided by 1 analyst. New target price is 48% above last closing price of JP¥844. Stock is down 6.1% over the past year. The company is forecast to post earnings per share of JP¥41.29 for next year compared to JP¥34.67 last year. Announcement • Jul 27
NOMURA Co., Ltd. to Report Q2, 2025 Results on Oct 10, 2024 NOMURA Co., Ltd. announced that they will report Q2, 2025 results on Oct 10, 2024 Reported Earnings • Jul 15
First quarter 2025 earnings released: EPS: JP¥5.44 (vs JP¥0.036 in 1Q 2024) First quarter 2025 results: EPS: JP¥5.44 (up from JP¥0.036 in 1Q 2024). Revenue: JP¥29.1b (up 17% from 1Q 2024). Net income: JP¥606.0m (up JP¥602.0m from 1Q 2024). Profit margin: 2.1% (up from 0% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Announcement • Apr 30
NOMURA Co., Ltd. to Report Q1, 2025 Results on Jul 11, 2024 NOMURA Co., Ltd. announced that they will report Q1, 2025 results on Jul 11, 2024 Major Estimate Revision • Apr 18
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥146.2b to JP¥141.0b. EPS estimate also fell from JP¥42.91 per share to JP¥35.90 per share. Net income forecast to grow 3.6% next year vs 16% growth forecast for Professional Services industry in Japan. Consensus price target of JP¥1,125 unchanged from last update. Share price fell 6.6% to JP¥851 over the past week. Reported Earnings • Apr 12
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥34.67 (up from JP¥20.02 in FY 2023). Revenue: JP¥134.1b (up 21% from FY 2023). Net income: JP¥3.86b (up 73% from FY 2023). Profit margin: 2.9% (up from 2.0% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Feb 21
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 27 May 2024. Payout ratio is on the higher end at 83%, and the cash payout ratio is above 100%. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.2%). Announcement • Jan 31
NOMURA Co., Ltd. to Report Fiscal Year 2024 Results on Apr 11, 2024 NOMURA Co., Ltd. announced that they will report fiscal year 2024 results on Apr 11, 2024 Major Estimate Revision • Jan 20
Consensus EPS estimates fall by 11%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from JP¥128.1b to JP¥132.0b. EPS estimate fell from JP¥34.77 to JP¥30.95 per share. Net income forecast to grow 43% next year vs 18% growth forecast for Professional Services industry in Japan. Consensus price target of JP¥1,050 unchanged from last update. Share price was steady at JP¥859 over the past week. Reported Earnings • Jan 14
Third quarter 2024 earnings released: EPS: JP¥7.44 (vs JP¥4.81 in 3Q 2023) Third quarter 2024 results: EPS: JP¥7.44 (up from JP¥4.81 in 3Q 2023). Revenue: JP¥35.6b (up 21% from 3Q 2023). Net income: JP¥829.0m (up 55% from 3Q 2023). Profit margin: 2.3% (up from 1.8% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 3% per year. Announcement • Oct 29
NOMURA Co., Ltd. to Report Q3, 2024 Results on Jan 12, 2024 NOMURA Co., Ltd. announced that they will report Q3, 2024 results on Jan 12, 2024 Buying Opportunity • Oct 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.4%. The fair value is estimated to be JP¥1,090, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 8.7%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings is also forecast to grow by 14% per annum over the same time period. Reported Earnings • Oct 13
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥15.06 (up from JP¥6.22 in 2Q 2023). Revenue: JP¥34.6b (up 37% from 2Q 2023). Net income: JP¥1.68b (up 142% from 2Q 2023). Profit margin: 4.8% (up from 2.8% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 109%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Oct 13
NOMURA Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending February 29, 2024 NOMURA Co., Ltd. provided consolidated earnings guidance for the fiscal year ending February 29, 2024. For the full year, the company expects net sales of JPY 124,000 million, operating profit of JPY 4,300 million, profit attributable to owners of the parent of JPY 3,100 million and earnings per share of JPY 27.83. Buying Opportunity • Oct 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.7%. The fair value is estimated to be JP¥1,096, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.2% over the last 3 years. Earnings per share has declined by 20%. For the next 3 years, revenue is forecast to grow by 4.1% per annum. Earnings is also forecast to grow by 19% per annum over the same time period. Buying Opportunity • Aug 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.7%. The fair value is estimated to be JP¥1,083, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.2% over the last 3 years. Earnings per share has declined by 20%. For the next 3 years, revenue is forecast to grow by 4.1% per annum. Earnings is also forecast to grow by 19% per annum over the same time period. Announcement • Aug 03
NOMURA Co., Ltd. to Report Q2, 2024 Results on Oct 12, 2023 NOMURA Co., Ltd. announced that they will report Q2, 2024 results on Oct 12, 2023 Reported Earnings • Jul 15
First quarter 2024 earnings released: EPS: JP¥0.036 (vs JP¥1.23 in 1Q 2023) First quarter 2024 results: EPS: JP¥0.036 (down from JP¥1.23 in 1Q 2023). Revenue: JP¥24.9b (up 12% from 1Q 2023). Net income: JP¥4.00m (down 97% from 1Q 2023). Profit margin: 0% (down from 0.6% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • May 30
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥20.02 (down from JP¥35.79 in FY 2022). Revenue: JP¥110.9b (flat on FY 2022). Net income: JP¥2.23b (down 44% from FY 2022). Profit margin: 2.0% (down from 3.6% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.2%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Price Target Changed • Apr 24
Price target increased by 15% to JP¥1,125 Up from JP¥975, the current price target is an average from 2 analysts. New target price is 24% above last closing price of JP¥905. Stock is up 6.3% over the past year. The company is forecast to post earnings per share of JP¥29.00 for next year compared to JP¥20.02 last year. Reported Earnings • Apr 08
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥20.02 (down from JP¥35.79 in FY 2022). Revenue: JP¥110.9b (flat on FY 2022). Net income: JP¥2.23b (down 44% from FY 2022). Profit margin: 2.0% (down from 3.6% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.2%. Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Major Estimate Revision • Mar 10
Consensus EPS estimates fall by 28% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from JP¥26.17 to JP¥18.86 per share. Revenue forecast steady at JP¥112.0b. Net income forecast to grow 5.2% next year vs 16% growth forecast for Professional Services industry in Japan. Consensus price target of JP¥950 unchanged from last update. Share price rose 2.1% to JP¥908 over the past week. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥25.00 per share at 2.8% yield Eligible shareholders must have bought the stock before 27 February 2023. Payment date: 29 May 2023. Payout ratio is on the higher end at 94%, however this is supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Announcement • Jan 31
NOMURA Co., Ltd. to Report Fiscal Year 2023 Results on Apr 06, 2023 NOMURA Co., Ltd. announced that they will report fiscal year 2023 results on Apr 06, 2023 Major Estimate Revision • Jan 20
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from JP¥110.1b to JP¥111.8b. EPS estimate fell from JP¥30.28 to JP¥26.62 per share. Net income forecast to grow 25% next year vs 17% growth forecast for Professional Services industry in Japan. Consensus price target of JP¥975 unchanged from last update. Share price rose 3.8% to JP¥897 over the past week. Reported Earnings • Jan 13
Third quarter 2023 earnings released: EPS: JP¥4.81 (vs JP¥15.09 in 3Q 2022) Third quarter 2023 results: EPS: JP¥4.81 (down from JP¥15.09 in 3Q 2022). Revenue: JP¥29.4b (down 5.4% from 3Q 2022). Net income: JP¥536.0m (down 68% from 3Q 2022). Profit margin: 1.8% (down from 5.4% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Price Target Changed • Nov 16
Price target decreased to JP¥975 Down from JP¥1,075, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥998. Stock is down 6.6% over the past year. The company is forecast to post earnings per share of JP¥30.28 for next year compared to JP¥35.79 last year. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 4 independent directors. 6 non-independent directors. Outside Independent Director Yasuharu Fushimi was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Nov 02
NOMURA Co., Ltd. to Report Q3, 2023 Results on Jan 12, 2023 NOMURA Co., Ltd. announced that they will report Q3, 2023 results on Jan 12, 2023 Reported Earnings • Oct 09
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: JP¥6.22 (down from JP¥6.37 in 2Q 2022). Revenue: JP¥25.2b (up 9.8% from 2Q 2022). Net income: JP¥693.0m (down 2.3% from 2Q 2022). Profit margin: 2.8% (down from 3.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) exceeded analyst estimates by 45%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Oct 08
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from JP¥112.8b to JP¥110.0b. EPS estimate also fell from JP¥34.34 per share to JP¥29.83 per share. Net income forecast to shrink 13% next year vs 11% growth forecast for Professional Services industry in Japan . Consensus price target of JP¥975 unchanged from last update. Share price rose 16% to JP¥1,047 over the past week. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥1,047, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 21x in the Professional Services industry in Japan. Total loss to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥967 per share. Announcement • Jul 31
NOMURA Co., Ltd. to Report Q2, 2023 Results on Oct 06, 2022 NOMURA Co., Ltd. announced that they will report Q2, 2023 results on Oct 06, 2022 Reported Earnings • Jul 09
First quarter 2023 earnings released: EPS: JP¥1.23 (vs JP¥0.13 in 1Q 2022) First quarter 2023 results: EPS: JP¥1.23 (up from JP¥0.13 in 1Q 2022). Revenue: JP¥22.3b (up 7.2% from 1Q 2022). Net income: JP¥137.0m (up JP¥123.0m from 1Q 2022). Profit margin: 0.6% (up from 0.1% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 3.0%, compared to a 14% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 01
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: JP¥35.79 (up from JP¥27.60 in FY 2021). Revenue: JP¥111.1b (up 3.1% from FY 2021). Net income: JP¥3.98b (up 30% from FY 2021). Profit margin: 3.6% (up from 2.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 2.0%, compared to a 12% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • May 02
NOMURA Co., Ltd. to Report Q1, 2023 Results on Jul 07, 2022 NOMURA Co., Ltd. announced that they will report Q1, 2023 results on Jul 07, 2022 Price Target Changed • Apr 27
Price target decreased to JP¥975 Down from JP¥1,075, the current price target is an average from 5 analysts. New target price is 13% above last closing price of JP¥866. Stock is up 8.4% over the past year. The company is forecast to post earnings per share of JP¥31.69 for next year compared to JP¥35.79 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 8 non-independent directors. Independent Outside Director Tatsumi Kimishima was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
