Nomura¡¯s profit fell last quarter as a loss in Europe and one-time costs tied to a major acquisition overshadowed revenue growth in wealth management and equities trading.
Net income slid 9.7% from a year earlier to ?91.6 billion ($595 million) in the fiscal third quarter ended Dec. 31, Japan¡¯s biggest brokerage said in a statement Friday. The company announced a share buyback.
Chief Executive Officer Kentaro Okuda is seeking to extend the momentum that led to record profit last year, as financial firms compete to capitalize on Japan¡¯s market swings and investing boom. Brokerages are finding a role helping clients navigate volatile bond and currency markets at a time of mounting concerns over the direction of Japan¡¯s fiscal policy.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.