Nomura Holdings, Inc. (NYSE:NMR) Q3 2023 Earnings Call Transcript

Operator: There is no more questions. We would like to finish question-and-answer session. Now we would like to make the closing address by Nomura Holdings.

Takumi Kitamura: Yes. Thank you, everyone, for joining in Q3, if we look at the results, the Retail division, which had been struggling for the past three quarters and also investment management have seen some positive movements. And meanwhile, unfortunately, wholesale was loss making. And so the results for this three quarters were not that strong, which was disappointing. But recently, in January, the performance has been improving. And so we are going in the right direction. And we are not that — we don’t have a major concern about the situation. But a lot of people pointed out the cost level, which I, too, have a strong sense of urgency. And it’s not like we haven’t been controlling costs, but we will think about our cost strategies more strategically in the future.

So we know what we have to do, very clear, and the themes we have to work on are very clear. And if we look at just this quarter or on a quarterly basis, there have been some ups and downs. But — we don’t want to be true carried away by that and focus more on what we have to do in the mid to long term. So we look forward to your continued support and understanding. Thank you very much.

Operator: Thank you for taking your time, and that concludes today’s conference call. You may now disconnect your lines.