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Nomura record Q4 profits from commissions

Nomura Holdings, Japan's largest securities brokerage, has announced that its profits saw an unexpected five-fold rise in the fourth quarter last year, thanks to record brokerage commissions.

Total profits for the Nomura Group were $1.13 billion, the group says, compared with just $223 million for the same period a year previously, and are the highest profits ever recorded by the Tokyo-based firm in its 81-year history.

The large increase is thanks to increased securities trading in Japan, from which they have reaped huge commissions.

Nobuyuki Koga, Nomura president and CEO, said the huge jump in profits would be good news for shareholders.

"We are pleased to report that strong performance for the year resulted in record net income, allowing us to offer shareholders the highest ever annual dividend," he said.

"We remain focused on building a solid revenue base through expansion of our current operations and by entering new areas to drive Nomura Group to higher levels of growth."

Analysts agree that if Nomura is to sustain its impressive performance it will need to expand its business, particularly overseas, as it cannot continue to rely so heavily on commissions for its profits.