Nomura Q2 net profit rises 13% to ¥103.73 billion

The standout here is asset management, where fee income growth far outpaced every other segment, suggesting Nomura's recurring-revenue base is strengthening relative to more cyclical trading and brokerage lines. That mix matters for how durable earnings look, since trading gains can reverse quickly while management fees tend to be stickier. Investment banking's solid gain hints at a recovering deal environment, though the item gives no regional or pipeline detail. Whether asset management momentum holds as markets shift is the open question worth tracking in coming quarters.