Nomura Holdings Posts Net Loss of over 100 B. Yen for April-Dec. 2018

Economy

Tokyo, Jan. 31 (Jiji Press)--Nomura Holdings Inc. <8604> said Thursday it incurred a consolidated net loss of 101,286 million yen in April-December.

It is the first net loss topping 100 billion yen for Nomura since the collapse of U.S. investment bank Lehman Brothers in 2008.

Nomura's mainstay businesses were sluggish amid increasing uncertainties over the course of financial markets due in part to the U.S.-China trade dispute, leading to the booking of 81.4 billion yen in impairment loss in overseas businesses, the company said.

Its retail business suffered from individual investors refraining from active stock transactions in view of volatile price movements.

In the wholesale division, profits substantially declined chiefly because of the goodwill impairments related to Asian, European and Middle Eastern operations it acquired from Lehman Brothers right after the collapse and to U.S. subsidiary Instinet Inc., which provides trading services for institutional investors.

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Jiji Press