RTTNews | Jul 30, 2021 03:03AM EDT

03:03 Friday, July 30, 2021 (RTTNews.com) - Nomura Holdings Inc. (NMR) reported lower profit for the first quarter, reflecting an downturn in revenues.

First-quarter net income was 48.5 billion yen or 15.59 per share compared to 142.5 billion yen or 45.65 per share last year.

Total revenue for the quarter amounted to 405.2 billion yen, lower than the previous year's 514.0 billion. Net revenue declined 23.3% to 353.3 billion yen from 460.7 billion yen in the prior year period.

Nomura President and Group CEO Kentaro Okuda, said, "Three segment income before income taxes and Segment Other performance improved, contributing to net income of 48.5 billion yen and lifting ROE to 7.1 percent. A robust quarter in the newly established Investment Management division supported overall performance as our efforts to strategically enhance services in the private domain, strengthen our asset management advisory functions and enhance sustainability related businesses yielded results."

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