Nomura Plans Stock Buyback Despite Profit Decline

Nomura has announced a plan to repurchase its shares, even as its third-quarter profits have decreased. According to Jin10, Japan's largest securities firm is still on track to achieve a record annual profit. In a statement released on Friday, the company reported a 9.7% drop in net profit for the fiscal third quarter ending December 31, amounting to 91.6 billion yen (approximately $5.95 billion). This result fell short of the average forecast of 95.1 billion yen by four analysts. CEO Kentaro Okuda is aiming to maintain the momentum of last year's record profits, as financial institutions are currently striving to capitalize on the volatility and investment surge in the Japanese market. With increasing attention on Japan's fiscal policy direction, securities firms are playing a crucial role in assisting clients to navigate the fluctuating bond and currency markets. Nomura's net profit for the first nine months totaled 288.2 billion yen, positioning the company to surpass the previous fiscal year's record high of 340.7 billion yen.