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Nomura posts $3.8 bn Q3 loss on Lehman costs

Nomura posts $3.8 bn Q3 loss on Lehman costs
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First Published: Tue, Jan 27 2009. 11 36 AM IST
Updated: Tue, Jan 27 2009. 11 36 AM IST
Tokyo: Nomura Holdings Inc, Japan’s largest brokerage, posted its fourth consecutive quarterly net loss on Tuesday, as the cost of buying some of Lehman Brothers’ operations eroded earnings.
Nomura, which bought the Asian and European operations of failed US investment bank Lehman Brothers to fuel its global expansion, posted a ¥342.9 billion ($3.8 billion) net loss for October-December, versus a ¥21.8 billion profit a year earlier.
The loss was bigger than an average forecast for a ¥211 billion loss from three analysts surveyed by Reuters Estimates.
Shares in Nomura fell 45% in October-December, underperforming the benchmark Nikkei 225, which fell 21%.
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First Published: Tue, Jan 27 2009. 11 36 AM IST