Nomura Holdings has raised its profit targets following a year of record earnings, as Chief Executive Officer Kentaro Okuda pushes for stable growth.
Japan’s biggest brokerage seeks to post at least ¥750 billion ($4.7 billion) in annual pretax income by the year ending March 2031, exceeding its previous goal of more than ¥500 billion, it said in a presentation to investors on Thursday. It also plans to deliver a yearly return on equity (ROE) — a key profitability measure — of at least 10% to 12%, up from its earlier target of 8% to 10% or more.
“Earning power has improved steadily” since the firm released its 2030 vision two years ago, Okuda said in the presentation. “We continue working toward sustainable growth and further improvement in our ability to generate profits.”
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.