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Nomura in the black for second straight quarter

Nomura in the black for second straight quarter

Nomura Holdings Inc., Japan's biggest brokerage, stayed in the black for a second straight quarter, helped by a recovery in financial markets and the acquisition of parts of Lehman Brothers.
Nomura's profit for the July-September period totaled 27.72 billion yen ($304.6 million) compared with a 72.87 billion yen loss a year earlier, it said Wednesday. Quarterly sales rose 37.9 percent to 355.47 billion yen ($3.9 billion) from 257.73 billion yen.
Nomura said it generated more revenue from overseas than inside Japan for the first time during the latest quarter. It was able to create stable income from its strong client base in Japan as well as new businesses acquired abroad, it said.
Nomura acquired Lehman's equities business in Asia and Europe last year after the American investment bank collapsed. The costs of buying those businesses contributed to Nomura's record loss the previous fiscal year. Nomura returned to profit in the April-June quarter of this year.
"The acquisitions have been a resounding success," said Nomura President and Chief Executive Kenichi Watanabe. "The results are another solid step in our drive to become a truly global investment bank."


Updated : 2021-05-18 19:26 GMT+08:00