Nomura hikes profit target for 2030/31 financial year to 750 billion yen
Nomura hikes profit target for 2030/31 financial year to 750 billion yen By Anton Bridge
TOKYO, May 28 (Reuters) - Japan's largest investment bank and brokerage, Nomura Holdings 8604.T, has raised its profit and profitability targets, coming off the back of two years of record annual net profit.
Nomura is aiming for at least 750 billion yen ($4.70 billion) of income before income taxes and return on equity - a measure of profitability - of between 10% and 12% or more for the year ending March 2031, according to a presentation released ahead of Nomura's investor event on Friday.
The hiked targets demonstrate Nomura's confidence in achieving sustainable profits after many years of fluctuating results that were rising and falling along with market conditions.
($1 = 159.4800 yen)
(Reporting by Anton Bridge
Editing by Tomasz Janowski)
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