Japanese financial group Nomura has reported attributable net income of JPY88bn ($800m) for the third quarter of fiscal year 2018, a surge of 25% compared to the previous year.
The brokerage’s net revenue for the quarter ended 31 December 2017 stood at JPY406.6bn, an increase of 10% from the same period last year.
Income before income taxes in retail operations was JPY31.3bn, a rise of 21% from a year ago. The unit’s net revenue increased 10% year-on-year to JPY111.3bn.
Income before income taxes in the asset management division was JPY20.8bn, a 49% surge compared to the previous year.
The asset management unit’s net revenue was JPY36.5bn, up 26% from last year.
Nomura group CEO and president Koji Nagai said: “Pretax income from our three core businesses increased quarter on quarter, supported by the global market rally. Non-business segment income helped push Group pretax income higher on both a quarter-on-quarter and year-on-year basis.
“Retail achieved continued growth in recurring revenue, driven by robust sales of equities and our focus on providing consulting services tailored to the needs of our clients. In Asset Management, record high assets under management for the fifth straight quarter contributed to the highest quarterly pretax income in more than 15 years.”