Nomura raises half-year dividend to 35 yen per share
First-half ROE was 13.3%, and pretax income from Nomura's four business divisions rose 50% year on year.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Nomura Holdings, Inc. (NMR) reported second-quarter net revenue of 607.5 billion yen, up 18% year on year but down 12% quarter on quarter. Income before taxes was 148.0 billion yen, up 8% year on year and down 30% quarter on quarter; net income attributable to shareholders was 103.7 billion yen, up 13% year on year and down 29% quarter on quarter. For the six months to September, net revenue was 1,294.2 billion yen (+25%), income before taxes was 359.5 billion yen (+21%), and net income attributable to shareholders was 249.3 billion yen (+27%) year on year.
Among divisions, Wealth Management net revenue and pretax income rose 22% and 44% year on year to 141.5 billion yen and 65.6 billion yen. Investment Management revenue rose 39% to 84.8 billion yen, while pretax income fell 11% to 27.4 billion yen. Wholesale revenue rose 11% to 308.9 billion yen; pretax income fell 13% to 46.1 billion yen. Banking revenue was 16.4 billion yen (+27%) and pretax income was 4.4 billion yen (+37%). Recurring-asset net inflows were about 750 billion yen, and the recurring revenue cost coverage ratio was 79%.
Nomura declared a 35 yen-per-share half-year dividend for shareholders of record as of September 30, 2026, payable December 1, 2026. The prior-year second-quarter dividend was 27 yen per share.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointSecond-quarter net revenue increased 18% year on year to 607.5 billion yen.
- Moderate pointHalf-year net income rose 27% year on year to 249.3 billion yen.
- Minor pointThe half-year dividend rose to 35 yen per share from 27 yen.
Negative
- Moderate pointSecond-quarter pretax income fell 30% quarter on quarter to 148.0 billion yen.
- Moderate pointInvestment Management pretax income fell 11% year on year to 27.4 billion yen.
- Moderate pointWholesale pretax income fell 13% year on year to 46.1 billion yen.
Filing Explained
Nomura declared a half-year dividend totaling 102,303 million yen, versus 79,218 million yen for the prior-year half-year dividend.
Key Figures
Key Terms
recurring revenue cost coverage ratio financial
recurring revenue assets financial
deposit sweep service contracts financial
assets under management financial
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were NMR's second-quarter financial results?
What dividend did NMR declare for the first half of FY2026/27?
AI-generated analysis. How Rhea-AI works. Not financial advice.
FORM 6-K
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
Commission File Number: 1-15270
For the month of October 2026
NOMURA HOLDINGS, INC.
(Translation of registrant’s name into English)
13-1, Nihonbashi 1-chome
Chuo-ku, Tokyo 103-8645
Japan
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Information furnished on this form:
EXHIBIT
Exhibit Number
| 1. | Nomura Reports Second Quarter Financial Results |
| 2. | Nomura Declares Half Year Dividend |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| NOMURA HOLDINGS, INC. | ||||||
| Date: October 28, 2026 |
By: |
/s/ Akito Bato | ||||
| Akito Bato | ||||||
| Senior Managing Director | ||||||
Nomura Reports Second Quarter Financial Results
| • | All four business divisions contributed to strong first-half performance; Group pretax income was Y359.5bn, up 21% YoY |
| • | Wealth Management had record-high recurring revenue and net inflows into recurring revenue assets; Recurring revenue cost coverage ratio rose to 79% |
| • | Investment Management AuM remained at a high level, reflecting continued inflows into newly launched funds and balanced funds; Business revenue remained solid |
| • | In Wholesale, Equities revenues remained strong; Investment Banking net revenue increased 26% YoY, driven by strong momentum in key product areas |
| • | Banking booked solid revenues from lending and trust and agent services, supported by higher interest rates and steady progress toward achieving the division’s KPIs |
| • | Second-quarter ROE of 10.9%; First-half ROE of 13.3%; Dividend of 35 yen per share |
Tokyo, October 28, 2026—Nomura Holdings, Inc. today announced its consolidated financial results for the second quarter and first half of the fiscal year ending March 31, 2027.
Net revenue in the second quarter was 607.5 billion yen (US$3.9 billion)1, declining 12 percent quarter on quarter but increasing 18 percent year on year. Income before income taxes was 148.0 billion yen (US$941 million), decreasing 30 percent from last quarter but increasing 8 percent compared to the second quarter last year. Net income attributable to Nomura Holdings shareholders was 103.7 billion yen (US$659 million), down 29 percent quarter on quarter but up 13 percent year on year.
For the six months to September, Nomura reported net revenue of 1,294.2 billion yen (US$8.2 billion), up 25 percent from the same period last year. Income before income taxes increased 21 percent to 359.5 billion yen (US$2.3 billion), and net income attributable to Nomura Holdings shareholders was 249.3 billion yen (US$1.6 billion), up 27 percent from the same period last year.
“In the first half of the fiscal year, we continued to see the positive results of our business model transformation. ROE was 13.3 percent, and pretax income from our four business divisions rose 50 percent year on year. Stable revenues grew about 60 percent compared to the same period last year, reflecting the expansion of our asset management-based business. We also continued to strengthen our revenue base by further diversifying our Wholesale revenue streams,” said Kentaro Okuda, Nomura President and Group CEO.
“In our Wealth Management Division, net inflows into recurring revenue assets reached a record high of around 750 billion yen as our full-service asset management business gained momentum. Recurring revenue was also at an all-time high and the recurring revenue cost coverage ratio rose to 79 percent.
“Investment Management assets under management remained at a high level, largely due to continued inflows into newly launched and balanced funds.
| 1 | US dollar amounts are included solely for the convenience of the reader and have been translated at the rate of 157.25 yen = 1 US dollar, the noon buying rate in New York for cable transfers in foreign currencies as certified for customs purposes by the Federal Reserve Bank of New York on September 30, 2026. This translation should not be construed to imply that the yen amounts actually represent, or have been or could be converted into, equivalent amounts in US dollars. |
“In Wholesale, Global Markets booked strong revenues in the Equities business. Investment Banking net revenue increased 26 percent year on year as we supported a broad range of corporate actions and financing activities in Japan and overseas.
“In Banking, growth in balances and higher interest rates contributed to year-on-year increases in net revenue and pretax income. Deposit sweep service contracts and deposit balances also grew steadily as collaboration between our Banking and Wealth Management divisions deepened.
“As we work toward our 2030 management vision of Reaching for Sustainable Growth, we will continue to grow divisional revenues and strengthen collaboration across divisions. We will also pursue structural reforms and maintain disciplined capital allocation to enhance our corporate value.”
Divisional Performance
Wealth Management
| (billions of yen) |
FY2026/27 2Q |
QoQ | YoY | |||||||||
| Net revenue |
141.5 | -3% | 22% | |||||||||
| Income (loss) before income taxes |
65.6 | -8% | 44% | |||||||||
Wealth Management reported net revenue of 141.5 billion yen, decreasing 3 percent quarter on quarter but increasing 22 percent from the same period last year. Income before income taxes was 65.6 billion yen, down 8 percent quarter on quarter but up 44 percent year on year.
Despite market uncertainty, Wealth Management delivered a strong performance. Net inflows into recurring revenue assets reached a record high of about 750 billion yen, driven by growth in the division’s asset management business. The recurring revenue cost coverage ratio rose to 79 percent as earnings became more stable.
Investment Management
| (billions of yen) |
FY2026/27 2Q |
QoQ | YoY | |||||||||
| Net revenue |
84.8 | -14% | 39% | |||||||||
| Income (loss) before income taxes |
27.4 | -39% | -11% | |||||||||
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Investment Management net revenue was 84.8 billion yen, down 14 percent quarter on quarter but up 39 percent year on year. Income before income taxes was 27.4 billion yen, decreasing 39 percent from last quarter and 11 percent from the same quarter last year.
Investment Management saw continued inflows into newly launched funds and balanced funds, helping keep assets under management at a high level. Business revenue remained solid.
Wholesale
| (billions of yen) |
FY2026/27 2Q |
QoQ | YoY | |||||||||
| Net revenue |
308.9 | -16% | 11% | |||||||||
| Income (loss) before income taxes |
46.1 | -51% | -13% | |||||||||
Wholesale reported net revenue of 308.9 billion yen, lower by 16 percent quarter on quarter but higher by 11 percent year on year. Income before income taxes was 46.1 billion yen, down 51 percent from last quarter and 13 percent from the previous year.
Wholesale net revenue and pretax income declined from the record-high levels achieved in the first quarter. Global Markets’ results slowed following last quarter’s strong performance, but Equities revenues remained high. Investment Banking net revenue increased year on year driven by strong momentum in key product areas.
Banking
| (billions of yen) |
FY2026/27 2Q |
QoQ | YoY | |||||||||
| Net revenue |
16.4 | 7% | 27% | |||||||||
| Income (loss) before income taxes |
4.4 | 20% | 37% | |||||||||
Banking reported net revenue of 16.4 billion yen, up 7 percent quarter on quarter and 27 percent year on year. Income before income taxes was 4.4 billion yen, up 20 percent from last quarter and 37 percent from the previous year.
Banking had solid revenues from lending and trust and agent services, supported by higher interest rates and progress toward achieving the division’s KPIs. Deposit sweep contracts and balances also grew steadily, expanding the client base and strengthening the division’s ability to attract deposits.
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ends |
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For further information please contact:
| Name |
Company |
Telephone | ||
| Kenji Yamashita |
Nomura Holdings, Inc. Group Corporate Communications Dept. |
81-3-3278-0591 |
Nomura
Nomura is a financial services group with an integrated global network. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its four business divisions: Wealth Management, Investment Management, Wholesale (Global Markets and Investment Banking), and Banking. Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com.
3
| 1. | This document is produced by Nomura Holdings, Inc. (“Nomura”). Copyright 2026 Nomura Holdings, Inc. All rights reserved. |
| 2. | Nothing in this document shall be considered as an offer to sell or solicitation of an offer to buy any security, commodity or other instrument, including securities issued by Nomura or any affiliate thereof. Offers to sell, sales, solicitations to buy, or purchases of any securities issued by Nomura or any affiliate thereof may only be made or entered into pursuant to appropriate offering materials or a prospectus prepared and distributed according to the laws, regulations, rules and market practices of the jurisdictions in which such offers or sales may be made. |
| 3. | No part of this document shall be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of Nomura. |
| 4. | The information and opinions contained in this document have been obtained from sources believed to be reliable, but no representations or warranty, express or implied, are made that such information is accurate or complete and no responsibility or liability can be accepted by Nomura for errors or omissions or for any losses arising from the use of this information. |
| 5. | This document contains statements that may constitute, and from time to time our management may make “forward-looking statements” within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. Any such statements must be read in the context of the offering materials pursuant to which any securities may be offered or sold in the United States. These forward-looking statements are not historical facts but instead represent only our belief regarding future events, many of which, by their nature, are inherently uncertain and outside our control. Important factors that could cause actual results to differ from those in specific forward-looking statements include, without limitation, economic and market conditions, political events and investor sentiments, liquidity of secondary markets, level and volatility of interest rates, currency exchange rates, security valuations, competitive conditions and size, and the number and timing of transactions. |
| 6. | The consolidated financial information in this document is unaudited. |
4
Nomura Declares Half Year Dividend
Tokyo, October 28, 2026—Nomura Holdings, Inc. today announced that it has declared a dividend of 35 yen per share to shareholders of record as of the end of September 2026. The dividend will be paid on December 1, 2026.
Cash Dividends
| (yen) |
FY2026/27 2Q |
Recent dividend forecast |
FY2025/26 2Q | |||
| Record date |
September 30, 2026 | - | September 30, 2025 | |||
| Dividend per share |
35.0 | - | 27.0 | |||
| Total dividends |
102,303 million | - | 79,218 million | |||
| Payment date |
December 1, 2026 | - | December 1, 2025 | |||
| Source of dividends |
Retained earnings | - | Retained earnings |
Recent Dividends
| (yen) |
2Q | 4Q | Annual dividend | |||||
| FY2024/25 |
23.0 | 34.0 (Ordinary dividend: 24.0) (Commemorative dividend: 10.0) |
57.0 (Ordinary dividend: 47.0) (Commemorative dividend: 10.0) | |||||
| FY2025/26 |
27.0 | 24.0 | 51.0 | |||||
| FY2026/27 |
35.0 | TBD | TBD | |||||
|
|
ends |
|
For further information please contact:
| Name |
Company |
Telephone | ||
| Kenji Yamashita |
Nomura Holdings, Inc. Group Corporate Communications Dept. |
81-3-3278-0591 |
Nomura
Nomura is a financial services group with an integrated global network. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its four business divisions: Wealth Management, Investment Management, Wholesale (Global Markets and Investment Banking), and Banking. Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com.