Net income rose 2.7% from a year earlier to ¥73.9 billion in the three months ended March 31, Nomura Holdings said Friday. | BLOOMBERG

Nomura Holdings cemented a second straight year of record profit, fueled by Japan’s financial-market recovery, even after fourth-quarter results missed analysts’ expectations.

Net income rose 2.7% from a year earlier to ¥73.9 billion ($463 million) in the three months ended March 31, the Tokyo-based company said Friday. That missed the ¥98.9 billion average of four analyst estimates compiled by Bloomberg News. Full-year profit hit an all-time high of ¥362.1 billion.

Japan’s biggest brokerage has been benefiting from volatile global markets and a boom in investing and dealmaking at home.…