Nomura Posts Hefty Profit in April-Dec.
Tokyo, Jan. 30 (Jiji Press)--Nomura Holdings Inc. <8604> Thursday reported a consolidated net profit of 251,473 million yen for April-December 2019, the highest level for the nine-month period since it began to use U.S. accounting standards from fiscal 2001.
In the same period of 2018, the major Japanese stockbroker suffered a net loss of 101,286 million yen.
The turnaround in the first three quarters of fiscal 2019 came as its bond operations for corporate clients fared well on the back of low interest rates in the United States.
Cost reductions and the downsizing of nonperforming operations as part of structural reforms also contributed to the net profit.
On the other hand, stock commission revenues dropped as individual investors grew less active in stock trading due to concerns about U.S.-China trade friction.
[Copyright The Jiji Press, Ltd.]