Nomura Makes a Lot of Money for Two Years in a Row

Apr 24, 2026, 06:43
A2

Nomura Makes a Lot of Money for Two Years in a Row

Introduction

Nomura is a big bank in Japan. It said it made a lot of money last year. It also made more money in the last three months. The bank says problems in other countries do not change how business works in Japan.

Main Body

Nomura told people about its money on Friday. In the last three months, it made 73.9 billion yen. That is more than 72 billion yen from the year before. For the whole year, it made 362.1 billion yen. That is more money than the year before. The bank changed how it works. Now it gets money from fees. Fees are money people pay for help. This money does not change much when markets go up and down. Nomura is very good at helping rich people in Japan with their money. Many people pay the bank every year. The bank also got money from fees when markets moved a lot. Its big business for companies and trading made the most money ever. A leader at the bank, Hiroyuki Moriuchi, said there are some risks. He said some business deals may take more time. But he said big problems for Japanese companies, like fewer old people and going to other countries, do not change because of problems in the Middle East.

Conclusion

Nomura made a lot of money for two years in a row. It did this because it gets money from fees and its big business did well. The bank says big things in Japan do not change because of problems in other countries.

Vocabulary Learning

bank
A place where people keep their money.銀行
Example:I go to the bank to get money.
help
To do something for someone who needs it.幫助
Example:Can you help me with this box?
made
Past tense of make; to get or earn something.賺取；獲得
Example:He made a lot of money last year.
money
Coins or paper used to buy things.錢
Example:She has money in her bag.
year
12 months; from January to December.年
Example:I will visit my family next year.

Sentence Learning

Nomura is a big bank in Japan.
This sentence uses the verb 'is' to describe what Nomura is.本句使用動詞 'is' 來描述野村證券是什麼。
It said it made a lot of money last year.
This sentence uses 'said' to report what the bank told people.本句使用 'said' 來報告銀行告訴人們的事情。
The bank changed how it works.
This sentence uses the past tense verb 'changed' to show a difference in the bank's way of doing things.本句使用過去式動詞 'changed' 來顯示銀行運作方式的改變。
Fees are money people pay for help.
This sentence uses 'are' to define what 'fees' means.本句使用 'are' 來定義 'fees' 的含義。
Nomura made a lot of money for two years in a row.
This sentence uses the past tense 'made' and the phrase 'in a row' to show continuous success.本句使用過去式 'made' 以及片語 'in a row' 來顯示連續的成功。
B2

Nomura Reports Record Annual Profit for Second Consecutive Year, Citing Resilience of Domestic Structural Factors Amid Geopolitical Tensions

Introduction

Nomura, Japan''s largest investment bank and brokerage, has announced a record annual net income for the second successive year, alongside a 3% increase in fourth-quarter profit. The firm''s leadership indicated that ongoing geopolitical conflicts have not altered the fundamental structural drivers of growth within the Japanese market.

Main Body

The financial results, released on Friday, show that Nomura''s net income for the January-to-March quarter rose to 73.9 billion yen ($462.60 million), up from 72 billion yen in the same period the previous year. For the full fiscal year, net income reached 362.1 billion yen, surpassing the previous record of 340.7 billion yen set the year prior. These figures reflect the outcome of a multi-year strategic initiative by the firm to pivot towards a business model based on stable, fee-based revenues, which are less affected by the ups and downs of volatile market conditions. Nomura has established a dominant position in Japan''s wealth management sector, supported by a large base of recurring fee income. Furthermore, the company benefited from flow fees generated by market volatility during the quarter. The wholesale division, which includes the firm''s investment banking and trading operations, recorded its highest annual revenue since it was created in April 2010. Chief Financial Officer Hiroyuki Moriuchi acknowledged that there are various risk factors in the current market environment. He noted that while decision-making in mergers and acquisitions (M&A) and equity capital markets may experience delays, the medium- to long-term structural challenges facing Japanese corporations—such as a declining population and the need for overseas expansion—remain unaffected by the situation in the Middle East.

Conclusion

Nomura has achieved a second consecutive year of record profitability, driven by its strategic focus on stable fee-based income and strong performance in its wholesale division. The firm maintains that the fundamental structural factors influencing the Japanese economy and its corporate clients are protected from the immediate disruptions of international geopolitical events.

Vocabulary Learning

pivot towards
To change direction or strategy to focus on something new.轉向；調整方向
Example:The bank decided to pivot towards a fee-based business model to reduce risk from market volatility.
recurring fee income
Regular, predictable revenue from ongoing services or contracts rather than one-time transactions.經常性費用收入
Example:Nomura's large base of recurring fee income provides stability even during economic uncertainty.
resilience
The ability to recover quickly from difficulties or adapt to change.韌性；復原力
Example:The resilience of the Japanese market has helped Nomura achieve record profits despite global tensions.
structural factors
Fundamental, long-term elements or conditions within an economy or system that shape its behavior.結構性因素
Example:Nomura's leadership stated that structural factors like Japan's aging population continue to drive growth.
volatile
Likely to change suddenly and unpredictably, especially in a negative way.波動的；不穩定的
Example:The wholesale division benefited from flow fees generated by volatile market conditions.

Sentence Learning

These figures reflect the outcome of a multi-year strategic initiative by the firm to pivot towards a business model based on stable, fee-based revenues, which are less affected by the ups and downs of volatile market conditions.
This sentence uses a non-defining relative clause ('which are less affected...') to add extra information about the business model. The relative clause helps organize the idea by explaining the advantage of the model without interrupting the main clause.這個句子使用了非限定性關係從句（'which are less affected...'）來補充說明商業模式的額外資訊。關係從句有助於組織想法，在不打斷主句的情況下解釋該模式的優勢。
Nomura has established a dominant position in Japan's wealth management sector, supported by a large base of recurring fee income.
This sentence uses a past participle phrase ('supported by...') as a reduced passive structure. It organizes the idea by showing the cause (recurring fee income) that supports the result (dominant position), making the logic clear and concise.這個句子使用了過去分詞短語（'supported by...'）作為簡化被動結構。它通過展示支持結果（主導地位）的原因（經常性費用收入）來組織想法，使邏輯清晰簡潔。
He noted that while decision-making in mergers and acquisitions (M&A) and equity capital markets may experience delays, the medium- to long-term structural challenges facing Japanese corporations—such as a declining population and the need for overseas expansion—remain unaffected by the situation in the Middle East.
This sentence uses the linking word 'while' to show contrast between short-term delays and long-term stability. The dashes set off examples ('such as...'), helping organize the complex idea by separating the main contrast from the supporting details.這個句子使用連接詞 'while' 來顯示短期延遲與長期穩定性之間的對比。破折號引出例子（'such as...'），通過將主要對比與支持細節分開，有助於組織複雜的想法。
The wholesale division, which includes the firm's investment banking and trading operations, recorded its highest annual revenue since it was created in April 2010.
This sentence uses a non-defining relative clause ('which includes...') to identify what the wholesale division consists of. The clause organizes the idea by providing necessary definition without breaking the flow of the main statement about revenue.這個句子使用了非限定性關係從句（'which includes...'）來說明批發部門的組成。該從句通過提供必要的定義而不打斷關於收入的主要陳述的流暢性，來組織想法。
Nomura has achieved a second consecutive year of record profitability, driven by its strategic focus on stable fee-based income and strong performance in its wholesale division.
This sentence uses a past participle phrase ('driven by...') as a passive structure to explain the cause of the achievement. It organizes the idea by placing the result first and then clarifying the reasons, which is effective for formal reporting.這個句子使用了過去分詞短語（'driven by...'）作為被動結構來解釋成就的原因。它通過先陳述結果然後說明原因來組織想法，這對於正式報導非常有效。
C2

Nomura Reports Record Annual Profit for Second Consecutive Year, Citing Resilience of Domestic Structural Factors Amid Geopolitical Tensions

Introduction

Nomura, Japan''s largest investment bank and brokerage, has announced a record annual net income for the second successive year, alongside a 3% increase in fourth-quarter profit. The firm''s leadership indicated that ongoing geopolitical conflicts have not altered the fundamental structural drivers of growth within the Japanese market.

Main Body

The financial results, released on Friday, show that Nomura''s net income for the January-to-March quarter rose to 73.9 billion yen ($462.60 million), up from 72 billion yen in the same period the previous year. For the full fiscal year, net income reached 362.1 billion yen, surpassing the previous record of 340.7 billion yen set the year prior. These figures reflect the outcome of a multi-year strategic initiative by the firm to pivot towards a business model predicated on stable, fee-based revenues, which are less susceptible to the fluctuations of volatile market conditions. Nomura has established a dominant position in Japan''s wealth management sector, underpinned by a substantial base of recurring fee income. Additionally, the company benefited from flow fees generated by market volatility during the quarter. The wholesale division, which encompasses the firm''s investment banking and trading operations, recorded its highest annual revenue since its inception in April 2010. Chief Financial Officer Hiroyuki Moriuchi acknowledged the presence of various risk factors in the current market environment. He noted that while decision-making in mergers and acquisitions (M&A) and equity capital markets may experience delays, the medium- to long-term structural challenges confronting Japanese corporations—such as demographic decline and the pursuit of overseas expansion—remain unaffected by the situation in the Middle East.

Conclusion

Nomura has achieved a second consecutive year of record profitability, driven by its strategic focus on stable fee-based income and strong performance in its wholesale division. The firm maintains that the fundamental structural factors influencing the Japanese economy and its corporate clients are insulated from the immediate disruptions of international geopolitical events.

Vocabulary Learning

flow fees
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.
inception
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.
insulated
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.
predicated
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.
underpinned
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.

Sentence Learning

These figures reflect the outcome of a multi-year strategic initiative by the firm to pivot towards a business model predicated on stable, fee-based revenues, which are less susceptible to the fluctuations of volatile market conditions.
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。
He noted that while decision-making in mergers and acquisitions (M&A) and equity capital markets may experience delays, the medium- to long-term structural challenges confronting Japanese corporations—such as demographic decline and the pursuit of overseas expansion—remain unaffected by the situation in the Middle East.
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。
Nomura has established a dominant position in Japan's wealth management sector, underpinned by a substantial base of recurring fee income.
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 wholesale division, which encompasses the firm's investment banking and trading operations, recorded its highest annual revenue since its inception in April 2010.
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 firm's leadership indicated that ongoing geopolitical conflicts have not altered the fundamental structural drivers of growth within the Japanese market.
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。