Nomura Holdings’ U.S.-listed ADR (NMR) is moving lower after the company reported fourth-quarter and full-year results for the fiscal year ended March 31, 2026. While Nomura posted record full-year net income and double-digit ROE, trading action has centered on a softer fourth quarter, including a quarter-on-quarter decline in profit, an impairment charge within Investment Management, and a notable sequential rise in expenses. (marketscreener.com)

For the full fiscal year, Nomura reported net income attributable to shareholders of ¥362.1 billion and income before income taxes of ¥539.8 billion. In the fourth quarter, momentum cooled versus the prior quarter, with profit pressured by weaker Wholesale performance, the Investment Management impairment, and higher costs—factors that can matter more for near-term expectations than the headline record annual profit. (marketscreener.com)

Investors are likely to watch for management’s commentary around cost discipline after the Q4 expense step-up, whether the Wholesale slowdown was market-driven or share-loss related, and any updated signals on capital returns. Nomura has also recently disclosed updates related to buyback activity and corporate actions, which can influence expectations for near-term shareholder returns. (nomuraholdings.com)