The Tokyo-based financial services company, Nomura Holdings has announced its financial figures for the third quarter of the fiscal year 2021 ending 31 March 2022.
In the latest quarter, the company saw net revenue of 351 billion yen ($3.0 billion). This is a 13% fall compared to the same period last year.
However, the figures were up 10% compared to the previous quarter. Net income cate at attributable to shareholders of Nomura stood at 60.3 billion yen ($525 million).
The Japanese firm also reported that for the nine months to December, its net revenue came at 1,023.1 billion yen ($8.9 billion), down 17% from the same period last year.
Nomura President and Group CEO Kentaro Okuda said:
Our efforts to diversify revenues and deliver consistent growth are starting to pay off. In the third quarter, we reported net revenue of 351 billion yen, up 10 percent from last quarter, and income before income taxes of 80.1 billion yen, a fourfold increase quarter on quarter.
The company faced challenges last year after seeing a fall of over 100 billion yen in net revenue in Q1 due to an unnamed US-based hedge fund client no longer being part of the balance sheet.