Japanese financial giant Nomura today revealed it raked in twice as much profit during the third quarter of its most recent financial year than it did the year before.
Net income at Japan's biggest brokerage shot up to ¥70.3bn (£496m), a 99 per cent increase compared with ¥35.4bn the year before and an increase of 15 per cent compared with the last quarter's ¥61.2bn.
Meanwhile, income before taxes grew to ¥95.9bn, up 86 per cent from ¥51.6bn and the highest it has been for six quarters.
Net revenues also inched up to ¥368.6bn, up four per cent year-on-year and up six per cent quarter-on-quarter.
Why it's important
Like the US banks which reported earlier this year, Nomura benefited from a burst of activity in fixed income around the time of the US election. The firm reported income before taxes of ¥47.4bn in its wholesale division, up 21 per cent compared with the last quarter and almost five times what it was this time last year.
The firm's asset management division also performed particularly strong, reporting strong levels of inflows for the quarter. Income before taxes in the arm grew to ¥14bn for the quarter, an increase of 30 per cent year-on-year and 88 per cent quarter-on-quarter.
It's not just US banks which have been bumped up by the Trump effect on fixed income.