Nomura Holdings has announced a target to nearly double pre-tax profits by the end of this decade, as CEO Kentaro Okuda looks to build on last year’s profit rebound.
Japan’s largest brokerage plans to generate pre-tax revenues of more than ยฅ500 billion ($3.2 billion) by 2030 as part of a vision to “pursue sustainable growth,” he said in a presentation to investors on Tuesday . He wants to improve profitability and limit volatility risk in the main wholesale division.
Nomura saw its annual profit grow last year for the first time since Okuda took charge in 2020, as the company reaped the benefits of a rebound in financial markets at home. However, challenges remain as costs remain high at the wholesaler that houses the trading and investment banking operations.
