← Asia Plus Group Holdings PCL overview

Asia Plus Group Holdings PCL vs Nomura Holdings: why the prices moved differently

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

Asia Plus Group Holdings PCL (ASP.BK)

Q3 2026
▲3

ASP's wealth push and new CEO reshape growth story

  • Wealth business drives AUM past 80 billion baht ASP is accelerating its wealth and asset management push, aiming to grow assets under management beyond 80 billion baht and cut reliance on volatile brokerage income. First-half profit jumped 516% to 324.92 million baht, with asset management now 43% of revenue. This steady fee income makes earnings more stable and supports the share price.

    This is the core growth engine lifting ASP's recurring income and profit outlook.

  • Legal partnership expands family wealth advisory Asia Plus Securities teamed up with The Capital Law to offer combined legal and wealth advice to business-owning families and rich clients. This widens its advisory services and can attract more assets, adding fee income over time. It reinforces the wealth strategy that is already boosting results.

    It shows a concrete step expanding the high-margin wealth advisory business.

  • Founder retires, new CEO takes over October 1 Founder and Executive Chairman Dr. Kongkiat retires after over 20 years, and Dr. Krits Panichphan becomes CEO on October 1. The succession was planned, and the new CEO aims to upgrade brokerage, technology and wealth products. Leadership change brings uncertainty, but a clear plan limits disruption.

    A major leadership transition directly affects ASP's strategy and investor confidence.

  • ASP underwrites TURBO bonds, earning fees ASP is underwriting TURBO's 1/2026 bonds, with interest up to 5.60% per year, open to institutional and high-net-worth investors October 5-7. Underwriting brings fee income and shows its capital markets franchise is active, a modest but steady positive for earnings.

    It is a fresh capital markets deal generating underwriting fees for ASP.

September 2026
▲3

ASP's wealth push and new CEO reshape growth story

  • Wealth business drives AUM past 80 billion baht ASP is accelerating its wealth and asset management push, aiming to grow assets under management beyond 80 billion baht and cut reliance on volatile brokerage income. First-half profit jumped 516% to 324.92 million baht, with asset management now 43% of revenue. This steady fee income makes earnings more stable and supports the share price.

    This is the core growth engine lifting ASP's recurring income and profit outlook.

  • Legal partnership expands family wealth advisory Asia Plus Securities teamed up with The Capital Law to offer combined legal and wealth advice to business-owning families and rich clients. This widens its advisory services and can attract more assets, adding fee income over time. It reinforces the wealth strategy that is already boosting results.

    It shows a concrete step expanding the high-margin wealth advisory business.

  • Founder retires, new CEO takes over October 1 Founder and Executive Chairman Dr. Kongkiat retires after over 20 years, and Dr. Krits Panichphan becomes CEO on October 1. The succession was planned, and the new CEO aims to upgrade brokerage, technology and wealth products. Leadership change brings uncertainty, but a clear plan limits disruption.

    A major leadership transition directly affects ASP's strategy and investor confidence.

  • ASP underwrites TURBO bonds, earning fees ASP is underwriting TURBO's 1/2026 bonds, with interest up to 5.60% per year, open to institutional and high-net-worth investors October 5-7. Underwriting brings fee income and shows its capital markets franchise is active, a modest but steady positive for earnings.

    It is a fresh capital markets deal generating underwriting fees for ASP.

Latest
▲3

ASP's wealth push and new CEO reshape growth story

  • Wealth business drives AUM past 80 billion baht ASP is accelerating its wealth and asset management push, aiming to grow assets under management beyond 80 billion baht and cut reliance on volatile brokerage income. First-half profit jumped 516% to 324.92 million baht, with asset management now 43% of revenue. This steady fee income makes earnings more stable and supports the share price.

    This is the core growth engine lifting ASP's recurring income and profit outlook.

  • Legal partnership expands family wealth advisory Asia Plus Securities teamed up with The Capital Law to offer combined legal and wealth advice to business-owning families and rich clients. This widens its advisory services and can attract more assets, adding fee income over time. It reinforces the wealth strategy that is already boosting results.

    It shows a concrete step expanding the high-margin wealth advisory business.

  • Founder retires, new CEO takes over October 1 Founder and Executive Chairman Dr. Kongkiat retires after over 20 years, and Dr. Krits Panichphan becomes CEO on October 1. The succession was planned, and the new CEO aims to upgrade brokerage, technology and wealth products. Leadership change brings uncertainty, but a clear plan limits disruption.

    A major leadership transition directly affects ASP's strategy and investor confidence.

  • ASP underwrites TURBO bonds, earning fees ASP is underwriting TURBO's 1/2026 bonds, with interest up to 5.60% per year, open to institutional and high-net-worth investors October 5-7. Underwriting brings fee income and shows its capital markets franchise is active, a modest but steady positive for earnings.

    It is a fresh capital markets deal generating underwriting fees for ASP.

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.