Third quarter net revenue was $3.62 billion, increasing 7% from the second quarter and 8% in the comparable quarter last year. Income before income taxes was $340 million, up 29% from the prior quarter and 55% year-over-year. Net income increased 13 times sequentially and 31% year-over-year to $164 million from the previous quarter.
On the business performance, Kenichi Watanabe, Nomura's President and CEO, said, "Our retail division increased client assets, while asset management generated higher revenues on a rise in assets under management. Wholesale gained further momentum with robust client activities in Global Markets and an increasingly diverse revenue mix as our US franchise gained traction. Cross-divisional partnership between Investment Banking and Global Markets led to a number of high-profile deals."Nomura's capital ratios remain highest in the industry. Its total capital ratio was 24.9% and Tier-1 ratio was 17.3%, as of December 2010.