Commissions or charges generated from the volume of transactions or trades, often recurring流量費用、交易手續費
Example:The company benefited from flow fees generated by market volatility during the quarter.
The establishment or starting point of an institution or activity成立之初、起始
Example:The wholesale division recorded its highest annual revenue since its inception in April 2010.
Protected from the effects of external factors; shielded隔離、免受影響
Example:The firm maintains that fundamental structural factors are insulated from the immediate disruptions of international geopolitical events.
Based on or contingent upon a particular condition or assumption基於、取決於
Example:The firm's strategy is predicated on stable, fee-based revenues that are less susceptible to market fluctuations.
Supported or strengthened from below; serving as a foundation支撐、鞏固
Example:Nomura has established a dominant position in wealth management, underpinned by a substantial base of recurring fee income.
The main clause is 'These figures reflect the outcome of a multi-year strategic initiative by the firm'. The infinitive phrase 'to pivot towards a business model' acts as a postmodifier of 'initiative'. The past participial phrase 'predicated on stable, fee-based revenues' functions as a reduced relative clause modifying 'business model'. Finally, the non-restrictive relative clause 'which are less susceptible to the fluctuations of volatile market conditions' provides additional information about 'revenues'. This structure demonstrates high lexical density and nested modification.主句為 'These figures reflect the outcome of a multi-year strategic initiative by the firm'。不定式短語 'to pivot towards a business model' 作為 'initiative' 的後置修飾語。過去分詞短語 'predicated on stable, fee-based revenues' 是省略關係代詞的定語從句，修飾 'business model'。最後，非限制性定語從句 'which are less susceptible to the fluctuations of volatile market conditions' 補充說明 'revenues'。此結構展現了高詞彙密度與嵌套修飾。
The main clause is 'He noted that...'. The object of 'noted' is a complex noun clause introduced by 'that'. Within this noun clause, there is a concessive adverbial clause 'while decision-making... may experience delays', which sets up a contrast with the main proposition of the noun clause: 'the medium- to long-term structural challenges... remain unaffected'. The subject 'structural challenges' is postmodified by the present participial phrase 'confronting Japanese corporations' and an appositive phrase set off by dashes 'such as demographic decline and the pursuit of overseas expansion'. This sentence showcases a concessive structure and dense nominal modification.主句為 'He noted that...'。'noted' 的賓語是一個由 'that' 引導的複雜名詞性從句。在此名詞從句中，包含一個讓步狀語從句 'while decision-making... may experience delays'，與名詞從句的主要命題 'the medium- to long-term structural challenges... remain unaffected' 形成對比。主語 'structural challenges' 由現在分詞短語 'confronting Japanese corporations' 和破折號分隔的同位語短語 'such as demographic decline and the pursuit of overseas expansion' 進行後置修飾。此句展示了讓步結構與密集的名詞修飾。
The main clause is 'Nomura has established a dominant position in Japan's wealth management sector'. The past participial phrase 'underpinned by a substantial base of recurring fee income' functions as a reduced relative clause, equivalent to 'which is underpinned by...'. This structure is a hallmark of formal, concise writing, allowing the writer to embed additional information without a full relative clause.主句為 'Nomura has established a dominant position in Japan's wealth management sector'。過去分詞短語 'underpinned by a substantial base of recurring fee income' 作為省略關係代詞的定語從句，相當於 'which is underpinned by...'。此結構是正式、簡潔寫作的標誌，允許作者在不使用完整定語從句的情況下嵌入附加信息。
The main clause is 'The wholesale division recorded its highest annual revenue since its inception in April 2010'. The subject 'The wholesale division' is interrupted by a non-restrictive relative clause 'which encompasses the firm's investment banking and trading operations'. This parenthetical insertion provides essential definition of the subject while maintaining the flow of the main clause. The adverbial phrase 'since its inception in April 2010' specifies the timeframe for the record.主句為 'The wholesale division recorded its highest annual revenue since its inception in April 2010'。主語 'The wholesale division' 被一個非限制性定語從句 'which encompasses the firm's investment banking and trading operations' 打斷。此插入語在保持主句流暢的同時，為主語提供了必要的定義。狀語短語 'since its inception in April 2010' 說明了創紀錄的時間範圍。
The main clause is 'The firm's leadership indicated that...'. The object of 'indicated' is a noun clause introduced by 'that'. The noun clause has a simple structure: subject 'ongoing geopolitical conflicts', verb 'have not altered', and object 'the fundamental structural drivers of growth within the Japanese market'. The complexity lies in the lexical density and the sophisticated use of negation to assert resilience, which is a nuanced rhetorical device. The phrase 'fundamental structural drivers of growth' is a high-density nominal group.主句為 'The firm's leadership indicated that...'。'indicated' 的賓語是一個由 'that' 引導的名詞性從句。名詞從句結構簡單：主語 'ongoing geopolitical conflicts'，謂語 'have not altered'，賓語 'the fundamental structural drivers of growth within the Japanese market'。其複雜性在於詞彙密度以及使用否定來強調韌性的巧妙修辭手法。短語 'fundamental structural drivers of growth' 是一個高密度的名詞組。