Nomura Holdings raised its profit target to at least ¥750 billion (US$4.7 billion) in income before income taxes for the financial year ending March 2031. This represents a 50% increase from its previous target of ¥500 billion [1, 2, 3]. The company also increased its return on equity (ROE) goal to between 10% and 12%, up from the earlier range of 8% to 10% [1, 2, 3].
The announcement came on May 28, 2026, when Nomura presented the updated targets to investors [1, 2, 3]. CEO Kentaro Okuda said, “Earning power has improved steadily” since the firm released its 2030 vision two years ago, aiming to transform the business and accelerate profit growth [2, 3].
Nomura has seen two consecutive years of record net profit driven by steady growth in revenue and strong fee-based income from wealth management and investment management services [1, 2, 3]. The firm’s investment management division now targets ¥150 billion in pretax income for the year ending March 2031, up from the previous goal of ¥100 billion [1].
Nomura expanded its fee-generating assets by acquiring the US and European public asset management businesses of Macquarie Group for US$1.8 billion [1]. This move supports the company’s effort to secure stable fee-based revenues and reduce volatility from fluctuating markets. It also allowed Nomura to capture a large share of fees in Japan’s merger-and-acquisition market despite uncertain global conditions [1].
Despite the strong earnings performance, Nomura’s stock price has declined nearly 4% so far in 2026 [2]. The company is focusing on maintaining consistent growth and increasing profitability amid evolving market dynamics.
Nomura’s next key milestone will be the financial year ending March 2031, by which it aims to achieve its revised targets of at least ¥750 billion pretax income and a 10-12% ROE [1, 2, 3].
