Tokyo: Nomura Holdings, Japan’s biggest brokerage, reported a 31% rise in third quarter net profit from a year earlier as a gain in Tokyo stocks boosted fees.
Nomura, which is expanding in Asia, Europe and the United States after buying a big chunk of floundering Lehman Brothers in 2008, posted a net profit of ¥13.39 billion ($164.6 million) for the three months ended on 31 December, compared with 10.2 billion in the same period a year earlier.
In the previous quarter, ended 30 September, the brokerage eked out ¥1.1 billion in net income.
Japan’s benchmark Nikkei average gained 9.2% in the quarter compared with a 7.3% rise in New York’s Dow Jones industrial average and a 6.3% increase in London’s FTSE benchmark during the three months.
The result fell short of the consensus forecast for a ¥17.4 billion profit from four analysts surveyed by Thomson Reuters I/B/E/S. For the full business year to the end of March, the average net income prediction of eight analysts is ¥36.7 billion. Nomura does not release its own outlook.