Nomura posts Wholesale Investor Day deck outlining upgraded 2030 return targets

  • Nomura flagged record-high Wholesale performance, with division revenue at JPY 1,162 billion in FY 25/26.
  • Wholesale pre-tax RoE ran at about 10% in FY 25/26, versus an original 2030/31 goal of 8%-10%.
  • Rev/RWA was 7.4% in FY 25/26, above an original 2030/31 target of about 6%.
  • Cost-to-income ratio improved to 83% in FY 25/26 from 96% in FY 22/23.
  • Wholesale upgraded 2030 targets to 10%+ RoE, less than 80% cost-to-income ratio, 7%+ Rev/RWA.


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