Nomura Sees 1st Full-Year Net Loss in Decade

Economy

Tokyo, April 26 (Jiji Press)--Nomura Holdings Inc. <8604> posted its first full-year net loss in a decade for the year to last March, reflecting losses linked to overseas operations and restructuring.

The Japanese brokerage house said Thursday that it swung to a consolidated net loss of 100,442 million yen from the year-before profit of 219,343 million yen.

The company and its core unit Nomura Securities Co. will skip executive bonuses due to the poor financial performance.

Nomura Holdings "will step up reforms to put it back on a growth path as early as possible," Chief Financial Officer Takumi Kitamura said.

Rivals Daiwa Securities Group Inc. <8601> and SMBC Nikko Securities Inc. saw their net profits nearly halve due to stock market weakness late last year.

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Jiji Press