Nomura Holdings has raised its profit targets following a year of record earnings, as Chief Executive Officer Kentaro Okuda pushes for stable growth.
Japan¡¯s biggest brokerage seeks to post at least ?750 billion ($4.7 billion) in annual pretax income by the year ending March 2031, exceeding its previous goal of more than ?500 billion, it said in a presentation to investors on Thursday. It also plans to deliver a yearly return on equity (ROE) ¡ª a key profitability measure ¡ª of at least 10% to 12%, up from its earlier target of 8% to 10% or more.
¡°Earning power has improved steadily¡± since the firm released its 2030 vision two years ago, Okuda said in the presentation. ¡°We continue working toward sustainable growth and further improvement in our ability to generate profits.¡±
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