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Nomura Holdings post second-quarter net loss

Nomura Holdings post second-quarter net loss

Nomura Holdings Inc. said Tuesday it posted a group net loss of 72.9 billion yen ($785.6 million) for the June-September quarter as fallout from the global financial turmoil kept Japan's biggest brokerage in the red.
The result was worse than the 11.7 billion yen ($126 million) loss the company posted in the fiscal second quarter of last year but slightly better than 76.6 billion yen ($825.5 million) loss in the April-June period.
Revenue in the quarter fell to 128.1 billion yen ($1.38 billion) from the previous year. Pretax losses totaled 69.3 billion yen ($746.8 million).
The company blamed the poor results on trading losses, write-downs of real estate assets, and a 17 billion yen ($183.2 million) loss stemming from its investment in securities issued by collapsed U.S. investment bank Lehman Brothers Holdings Inc.
Nomura acquired Lehman's operations in Asia, Europe and the Middle East following the U.S. investment bank's demise in September.
The Japanese financial giant is now "positioned to rebuild global markets and international wholesale operations to expand revenue," it said in a statement.
For the six months through September, Nomura reported a net loss of 149.46 billion yen ($1.61 billion) on revenue of 515.6 billion yen ($5.56 billion). It posted 64.23 billion yen ($692.2 million) in net profit during the same period the previous year.
Nomura does not release earnings forecasts.
Its financial results are based on U.S. accounting standards.


Updated : 2021-01-17 15:48 GMT+08:00