Nomura’s wholesale business makes a loss

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By Jasper Cox
25 Apr 2019

Nomura announced in its results on Thursday that its wholesale business made a loss both in the fourth quarter and in the year as a whole. The Japanese bank is looking to cut back the division.

The wholesale division made a net revenue of ¥555bn ($4.96bn) over the financial year ending on March 31, a 22% drop on the previous one. Non-interest expenses increased by 8.5% thanks to a goodwill impairment, meaning the division made a ¥111bn loss.

In the fourth quarter, it lost ...

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