Nomura’s Trading Overhaul Advances as Okuda Plans Buyback (2)

Nomura Holdings Inc.’s Chief Executive Officer Kentaro Okuda rewarded investors for sticking with a turnaround plan as his key investment banking and trading division returned to profit. The firm announced a buyback of up to 100 billion yen ($677 million).

A strong showing in fixed income trading helped lift revenues in global markets, while an uptick in dealmaking and in its mainstay retail business also boosted earnings, Japan’s biggest brokerage said in a statement Wednesday.

Kentaro Okuda

Photographer: James Whitlow Delano/Bloomberg

“The negative aspects have been addressed as their retail business recovers while their wholesale operations have bottomed out,” said Satoru Matsumoto, an ...