NOMURA Co., Ltd.
Update on Measures to Realize Management Mindful of Cost of Capital and Share Price
Updated recognition and initiatives regarding management mindful of cost of capital and share price. Reconfirms market trends, ROE, PBR and capital policy stance, and explains the framework for shareholder returns and investment allocation under the 2026–2028 medium-term management plan.
Key Figures
- Cost of capital: 5～8％
- PBR: 2.4x (as of the fiscal 2026 interim period end)
- Dividend policy: Higher of DOE 7.0% or dividend payout ratio 50% or more; assumed dividend for fiscal 2026: 44 yen (interim 22 yen · year-end 22 yen)
AI要約
Current Recognition and Market Environment
The document outlines the current recognition of share price, cost of capital and ROE, and estimates the company's cost of equity at 5–8%. It points out divergence from TOPIX and Nikkei Average, and states a policy to aim for ROE to exceed the cost of capital.
Framework for Capital Policy and Shareholder Returns
Under the 2026–2028 medium-term management plan, the shareholder return policy adopts the higher of DOE 7.0% or a dividend payout ratio of 50% or more. The framework for capital allocation is specified, including the dividend policy for fiscal 2026 and implementation of interim dividend. A policy to maintain a balance between growth investment and shareholder returns is presented.
NOMURA Co., Ltd.
Company overview · Stock price · Financial data · All IR
