Hit by DOJ Settlement and Weak Markets, Nomura Reports First Quarterly Loss in Two and a Half Years
Nomura reported an annualized return on equity of minus 1.6% for the July-September quarter, its first quarterly loss in two and a half years. Some of Nomura’s shortfall is attributable to similar factors that depressed the earnings of Nomura’s smaller rival Daiwa two days ago, namely slow performance in the domestic retail business as currency turmoil in emerging markets turned Japanese investors off from overseas bonds as well as a quiescent period for investment banking revenue opportunities....
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