Sign in

    Mia Nagasaka • Morgan Stanley MUFG Securities Co., Ltd.

    Mia Nagasaka's questions to Nomura Holdings Inc (NMR) leadership

    Mia Nagasaka's questions to Nomura Holdings Inc (NMR) leadership • Q1 2025

    Question

    Mia Nagasaka asked for a segment-by-segment strategy breakdown for achieving the 8-10% ROE target. She also questioned why recurring revenue in Wealth Management grew faster than recurring assets, asking about product strategy and margins.

    Answer

    Takumi Kitamura, CFO, outlined that stable profits from Wealth Management and Investment Management are key to the ROE goal, capitalizing on the 'savings to investment' trend. For the Wholesale division, the focus is on improving the high cost-income ratio. He suggested the strong recurring revenue growth relative to assets was likely a spot-quarter anomaly rather than a structural shift in product mix or margins.

    Ask Fintool Equity Research AI

    Mia Nagasaka's questions to Daiwa Securities Group Inc (DSEEY) leadership

    Mia Nagasaka's questions to Daiwa Securities Group Inc (DSEEY) leadership • Q3 2024

    Question

    Mia Nagasaka of Morgan Stanley MUFG Securities noted that current performance, especially base income, appears to be front-loading the medium-term plan targets set for March 2027. She asked for commentary on potential upsides and concerns by division and whether the company might revise its targets upward.

    Answer

    An executive acknowledged that performance is trending ahead of their medium-term plan's assumptions, particularly the base income target of JPY 150 billion for the plan's third year. However, they stated there is no intention to formally revise the plan's targets at this moment. They attributed the outperformance to strong results in the Wealth Management division, driven by a favorable market environment and successful sales activities, which they will continue to monitor closely.

    Ask Fintool Equity Research AI