Nomura Holdings Inc., Japan¡¯s biggest brokerage, said it slid to its first quarterly net loss since 2011 as its wholesale division fell into the red, its retail division weakened and its overseas operations lost money for a sixth straight year.

Two weeks after it warned it would cut some overseas jobs and operations, Nomura on Wednesday booked a fourth-quarter net loss of ?19.2 billion, compared with a net profit of ?82.0 billion a year earlier. The loss included a ?16 billion charge for redundancy packages.

The cutbacks announced this month signal an admission that Nomura¡¯s latest drive to achieve its long-cherished ambition to become a global player had run into trouble. Having run up $3.5 billion in losses overseas in six years, it said it was axing a brokerage unit and hundreds of jobs in Europe and the Americas.

The weak January-March quarter squeezed Nomura¡¯s full-year net profit to ?131.6 billion, 41 percent below the earlier ?224.8 billion ¡ª its best annual result for nine years. The annual profit came in well below a consensus forecast of ?181.35 billion by 10 analysts polled by Thomson Reuters Starmine.

Nomura said on Wednesday its overseas operations posted an annual loss of ?79.6 billion, affected by the tough market conditions that have made it harder for global banks like Goldman Sachs and Morgan Stanley to turn a profit.

The brokerage said its global markets business ¡ª part of its wholesale division ¡ª was impacted by widening spreads and market disruption after the introduction of negative interest rates by the Bank of Japan this year. The wholesale division lost ?22.8 billion between January and March, Nomura said.

Annual pretax profit at Nomura¡¯s retail division fell 21 percent compared to last year. In January-March alone, retail profit fell by 70 percent year-on-year to ?12.2 billion, as market volatility resulted in sluggish investor activity, the brokerage said.

Meanwhile, the company separately announced plans to spend up to ?20 billion buying back its shares.