Nomura's Huge Loss Matters Most Because It Could Prompt Management to Finally Cut Overseas Bloat
Nomura reported its second consecutive quarterly loss, with red ink at the bottom line of JPY 95.1 billion wiping out more than 3% of the group's book value. This was driven by a JPY 81.4 billion goodwill write-down in the wholesale business, though the report included other items as well, such as a JPY 18.3 billion impairment charge on Nomura's stake in regional bank Mebuki Financial Group. In any case, we are sure that the market is now looking past the specifics of the awful results and towar...
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