← Nomura Holdings overview

Nomura Holdings vs Cinda Securities Co. Ltd. A: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Nomura Holdings, Inc. (8604.JP)

Q3 2026
▲3▼1

Nomura Q3: Record Profits, Crypto Expansion, But Risks Linger

  • Record earnings and profitability Nomura reported record recurring revenue of ¥59.2bn, a 15.4% return on equity, and a 39% jump in April–June net profit to ¥145.5bn, driven by a 30% surge in wholesale revenue from Tokyo equity trading.

    This is the core financial performance that drove investor confidence and the stock price.

  • Digital asset expansion Nomura's crypto arm Laser Digital received conditional OCC approval for a US trust charter, and Nomura became Japan's first newly registered crypto exchange in four years, signaling a strategic push into digital assets.

    This new business initiative opens growth opportunities and differentiates Nomura in the financial sector.

  • Analyst upgrades and fee income Analysts raised profit forecasts by 4.8%, and Nomura joined SoftBank's ¥1trn bond underwriting, adding fee income and reinforcing its investment banking franchise.

    These developments reflect positive sentiment and additional revenue streams that support the stock.

  • Early-stage crypto and market dependency risks Crypto initiatives are early-stage and may take time to pay off, and the bullish Nikkei 75,000 target depends on continued rate hikes and market strength, posing downside risks if conditions change.

    This provides a balanced view of potential headwinds that could impact future performance.

August 2026
▲4

Nomura's profit outlook brightens on rate hikes, crypto entry, and deal fees

  • Profit forecast upgraded Analysts raised their profit forecast for Nomura by 4.8% in a week, now expecting a 5.2% increase from last year. This reflects growing confidence in the company's earnings, which supports a higher stock price.

    Directly shows improving earnings expectations, a key driver for the stock.

  • Crypto exchange approval Nomura's digital asset unit became Japan's first newly registered crypto exchange in four years. This opens a new business line and positions Nomura in a growing market, potentially adding future revenue and boosting investor optimism.

    New regulatory milestone expands Nomura's business into crypto, a positive growth driver.

  • Underwriting large bond deal Nomura is among the underwriters for SoftBank's 1 trillion yen bond sale. This generates fee income for Nomura's investment banking division, directly adding to profits and supporting the stock price.

    A concrete deal that boosts Nomura's fee revenue, a positive earnings catalyst.

  • Bullish on rates and market Nomura's president expects the Nikkei to reach 75,000 by year-end, citing rising interest rates as positive for banks. Higher rates can boost Nomura's trading and lending income, and the optimistic market view supports the stock.

    Leadership's bullish outlook on rates and the stock market signals confidence in Nomura's business environment.

Latest
▲4

Nomura's profit outlook brightens on rate hikes, crypto entry, and deal fees

  • Profit forecast upgraded Analysts raised their profit forecast for Nomura by 4.8% in a week, now expecting a 5.2% increase from last year. This reflects growing confidence in the company's earnings, which supports a higher stock price.

    Directly shows improving earnings expectations, a key driver for the stock.

  • Crypto exchange approval Nomura's digital asset unit became Japan's first newly registered crypto exchange in four years. This opens a new business line and positions Nomura in a growing market, potentially adding future revenue and boosting investor optimism.

    New regulatory milestone expands Nomura's business into crypto, a positive growth driver.

  • Underwriting large bond deal Nomura is among the underwriters for SoftBank's 1 trillion yen bond sale. This generates fee income for Nomura's investment banking division, directly adding to profits and supporting the stock price.

    A concrete deal that boosts Nomura's fee revenue, a positive earnings catalyst.

  • Bullish on rates and market Nomura's president expects the Nikkei to reach 75,000 by year-end, citing rising interest rates as positive for banks. Higher rates can boost Nomura's trading and lending income, and the optimistic market view supports the stock.

    Leadership's bullish outlook on rates and the stock market signals confidence in Nomura's business environment.

July 2026
▲4

Nomura's profit surges on trading boom and digital-asset expansion

  • Wholesale revenue running 30% higher Nomura said wholesale revenue is up over 30% year-on-year, led by equity products, as Tokyo Stock Exchange cash-equity turnover jumped 68% in 2026. That raises the odds Nomura beats the roughly flat 2.2 trillion yen revenue consensus, lifting the shares.

    This is the first signal of a strong quarter and directly drives earnings expectations.

  • Record recurring revenue and 15.4% ROE in Q1 Nomura reported record recurring revenue of 59.2 billion yen and a 15.4% return on equity. Wealth management net revenue rose 9% to 145.4 billion yen, with record net inflows into recurring-revenue assets. Global markets revenue jumped 26%, led by a 41% surge in equities. This shows broad-based profit strength.

    It confirms the strong quarter with record recurring revenue and high ROE, a key driver of the stock.

  • April–June net profit up 39% to 145.5 billion yen Nomura's net profit for the April–June quarter rose 39% year-on-year to 145.5 billion yen, beating expectations. All five major Japanese brokerages posted sharp profit gains, helped by rising interest rates, higher stock prices, and strong sales of investment products. This confirms a sector-wide upcycle.

    The earnings beat is the headline number that directly moves the stock and validates the positive trend.

  • Digital-asset push: US trust charter and ZIG partnership Nomura's Laser Digital won conditional OCC approval for a US national trust bank charter, enabling institutional crypto custody. It also invested in crypto asset ZIG and will co-develop on-chain financial products for institutions. These moves expand future revenue but are early-stage and may take time to pay off.

    It shows a new growth avenue in digital assets, though with longer-term impact.

▲4

Nomura's profit surges on trading boom and digital-asset expansion

  • Wholesale revenue running 30% higher Nomura said wholesale revenue is up over 30% year-on-year, led by equity products, as Tokyo Stock Exchange cash-equity turnover jumped 68% in 2026. That raises the odds Nomura beats the roughly flat 2.2 trillion yen revenue consensus, lifting the shares.

    This is the first signal of a strong quarter and directly drives earnings expectations.

  • Record recurring revenue and 15.4% ROE in Q1 Nomura reported record recurring revenue of 59.2 billion yen and a 15.4% return on equity. Wealth management net revenue rose 9% to 145.4 billion yen, with record net inflows into recurring-revenue assets. Global markets revenue jumped 26%, led by a 41% surge in equities. This shows broad-based profit strength.

    It confirms the strong quarter with record recurring revenue and high ROE, a key driver of the stock.

  • April–June net profit up 39% to 145.5 billion yen Nomura's net profit for the April–June quarter rose 39% year-on-year to 145.5 billion yen, beating expectations. All five major Japanese brokerages posted sharp profit gains, helped by rising interest rates, higher stock prices, and strong sales of investment products. This confirms a sector-wide upcycle.

    The earnings beat is the headline number that directly moves the stock and validates the positive trend.

  • Digital-asset push: US trust charter and ZIG partnership Nomura's Laser Digital won conditional OCC approval for a US national trust bank charter, enabling institutional crypto custody. It also invested in crypto asset ZIG and will co-develop on-chain financial products for institutions. These moves expand future revenue but are early-stage and may take time to pay off.

    It shows a new growth avenue in digital assets, though with longer-term impact.

Cinda Securities Co. Ltd. A (601059.CG)

Q3 2026
▲3▼1

CICC completes takeover; Cinda A-shares delisted after share swap

  • Regulatory approvals for CICC-Cinda merger CICC's share-swap takeover of Cinda Securities received CSRC and Shanghai Exchange approvals, clearing the path for the deal. This reduced uncertainty and supported Cinda's share price before delisting.

    Regulatory approvals were a key positive catalyst for the stock during the period.

  • Strong 1H profit and revenue growth Cinda Securities reported growth in both profit and revenue for the first half of 2026, showing solid business performance. This positive financial result likely boosted investor confidence ahead of the merger.

    Earnings growth is a fundamental driver of stock performance.

  • Approval to issue up to 5.2 billion yuan in bonds Cinda received approval to issue up to 5.2 billion yuan in bonds, which would strengthen its capital base. This move supports business expansion and regulatory capital requirements.

    Bond issuance approval improves financial flexibility and capital adequacy.

  • Loss of independent listing and legal status Cinda A-shares were delisted after the share swap, with trading suspended on September 15 and September 14 the last trading day. The company lost its independent legal status, ending its separate listing.

    Delisting is a major structural change that directly affects shareholders and the stock's tradability.

August 2026
▲3▼1

CICC completes takeover; Cinda A-shares delisted after share swap

  • Regulatory approvals for CICC-Cinda merger CICC's share-swap takeover of Cinda Securities received CSRC and Shanghai Exchange approvals, clearing the path for the deal. This reduced uncertainty and supported Cinda's share price before delisting.

    Regulatory approvals were a key positive catalyst for the stock during the period.

  • Strong 1H profit and revenue growth Cinda Securities reported growth in both profit and revenue for the first half of 2026, showing solid business performance. This positive financial result likely boosted investor confidence ahead of the merger.

    Earnings growth is a fundamental driver of stock performance.

  • Approval to issue up to 5.2 billion yuan in bonds Cinda received approval to issue up to 5.2 billion yuan in bonds, which would strengthen its capital base. This move supports business expansion and regulatory capital requirements.

    Bond issuance approval improves financial flexibility and capital adequacy.

  • Loss of independent listing and legal status Cinda A-shares were delisted after the share swap, with trading suspended on September 15 and September 14 the last trading day. The company lost its independent legal status, ending its separate listing.

    Delisting is a major structural change that directly affects shareholders and the stock's tradability.

Latest
▲3▼1

CICC absorbs Cinda Securities; A-shares delist after 19.11 yuan swap

  • CICC merger approved; Cinda holders get CICC shares Regulators approved CICC's absorption of Cinda Securities. Cinda A-shares stop trading and holders receive CICC shares at a set swap price of 19.11 yuan per Cinda share. This locks in the merger value and removes standalone Cinda risk, supporting the price into delisting.

    The approved merger and fixed swap price are the main force setting Cinda's value now.

  • First-half profit and revenue grew Cinda's first-half net profit rose 7.15% to 1.097 billion yuan and revenue rose 19.53% to 2.435 billion yuan. Steady earnings make the company more valuable in the merger and support the share-swap terms, a positive for holders.

    Earnings growth underpins the value exchanged in the merger.

  • Approved to issue up to 5.2 billion yuan bonds Cinda won approval to publicly issue up to 5.2 billion yuan of corporate bonds to professional investors, to add capital or operating funds. More funding strengthens its balance sheet and supports business before the merger completes.

    New financing approval adds capital and is a fresh positive for the company.

  • A-shares suspended and delisted; no independent future Cinda's A-shares were suspended from September 15 and will be delisted, with September 14 the last trading day. The company loses independent legal status and becomes part of CICC, so Cinda shares cease to exist as a separate listing.

    Delisting ends Cinda as a standalone stock, a real counterweight to the merger gains.

▲4

CICC's share-swap takeover of Cinda clears key regulatory hurdle

  • CSRC accepts CICC merger application China's securities regulator accepted the application for CICC to absorb Cinda Securities via a share swap. This is the first formal step in a takeover that would pay Cinda holders a premium, so it lifts the shares by making the deal look more likely.

    It is the first concrete regulatory step in the takeover that is the main force behind the stock.

  • New M&A bonus in broker ratings The 2026 broker classification added a first-ever bonus for mergers and acquisitions. That policy rewards consolidation like the CICC-Cinda deal, signaling official support and making the tie-up more attractive to complete.

    It shows a new regulatory tailwind directly encouraging the merger driving the stock.

  • CICC details deal value and scale CICC told the Shanghai exchange the merged firm would jump to fourth in the industry with far more capital and clients. Cinda's swap price equals 3.04 times book value, a rich valuation that supports Cinda's share price.

    It gives investors concrete numbers showing the premium and strategic logic of the deal.

  • Shanghai exchange approves the merger The Shanghai Stock Exchange's review committee approved CICC's share-swap merger with Cinda. This is the biggest green light so far, though China's securities regulator must still sign off, so some deal risk remains.

    It is the latest and most important approval milestone, moving the stock closer to the finish line.