Nomura’s asset management division saw alternative assets under management (AUM) hit ¥3.3tn (£15.8bn) in the last quarter, driven by record-high inflows.

In December 2025, Nomura’s alternative AUM reached ¥3.3tn, compared with ¥2.5tn in December 2024. Nomura accredited the growth to continued net inflows, which have reached a “record high”.

The firm also reported that AUM for its wider investment management business reached an “all-time high” of ¥134.7tn in December 2025, driven by its acquisition of Macquarie Group, which concluded at the end of the year.

Nomura completed its $1.8bn (£1.4bn) acquisition of Macquarie’s US and European public asset management businesses, adding $166bn to its holdings and accelerating the expansion of its private markets platform in December. 

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Alongside strong AUM growth, revenue for its investment management division reached its highest level since the department was established, according to its quarterly results.

“In investment management, assets under management climbed to a record high of  ¥134.7tn,” said Kentaro Okuda, Nomura president and group chief executive. “We successfully completed our acquisition of Macquarie’s US and European public asset management business, and this has strengthened our global asset management platform and positions us for future growth.”

However, within the Japanese firm’s investment management division, income fell due to weaker investment gains or losses and one-off costs related to the acquisition of Macquarie.

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Nomura’s overall business reported net revenue for the third quarter of ¥551.8bn, up seven per cent quarter-on-quarter and 10 per cent year-on-year.

Net income attributable to Nomura shareholders was ¥91.6bn, down one per cent quarter-on-quarter and 10 per cent year-on-year.