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Nomura posts $2.2 bn Q4 loss, hit by Lehman costs

Nomura posts $2.2 bn Q4 loss, hit by Lehman costs
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First Published: Fri, Apr 24 2009. 11 32 AM IST
Updated: Fri, Apr 24 2009. 11 32 AM IST
Tokyo: Nomura Holdings Inc, Japan’s biggest brokerage, posted a fifth straight quarterly net loss, hit by costs related to its acquisition of parts of failed US investment bank Lehman Brothers.
Nomura, which is merging Lehman’s Asian, European and Middle East operations with its own, reported a January-March net loss of 217.1 billion yen ($2.2 billion), bigger than a 153.9 billion yen loss a year ago.
The loss was bigger than the average forecast of 113 billion yen from 4 analysts surveyed by Thomson Reuters, but roughly in line with an estimate in the Nikkei newspaper on Thursday.
Nomura bought the Lehman operations late last year after the collapse of the Wall Street bank.
Ahead of the results on Friday, Nomura shares closed up 1.2%, while the benchmark Nikkei fell 1.6%.
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First Published: Fri, Apr 24 2009. 11 32 AM IST