Japan’s Nomura Q1 net profit slumps 96.5% on market headwinds

2022.08.03 09:22

FILE PHOTO: A Nomura logo is pictured at the Japanese company’s office in the Manhattan borough of New York City, New York, U.S. June 23, 2017. REUTERS/Carlo Allegri/File Photo

TOKYO (Reuters) – Nomura Holdings (NYSE:NMR) Inc, Japan’s biggest brokerage and investment bank, on Wednesday reported a 96.5% drop in first-quarter net profit as financial market turbulence battered investment banking and asset management businesses.

April-June profit came in at 1.696 billion yen ($12.73 million) versus 48.5 billion yen a year earlier. The result compared with the 22.59 billion yen average of two analyst estimates compiled by Refinitiv.

($1 = 133.1900 yen)

Source