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Nomura slips to Q4 net loss, first quarter in red since 2011

[TOKYO] Nomura Holdings Inc, Japan's biggest brokerage, said on Wednesday it slid to its first quarterly net loss since 2011 in its fiscal fourth quarter as its retail division weakened and its overseas operations lost money for a sixth straight year.

Nomura, which said earlier this month it would cut some overseas operations in an effort to turn business around, reported a net loss of 19.2 billion yen (S$233 million) between January-March, compared with a net profit of 82.0 billion yen in the same period a year earlier.

The brokerage said net profit for the 12 months ended March fell 41 per cent to 131.55 billion yen from the year earlier's 224.79 billion yen, its best annual result for nine years.

The profit came in well below a consensus forecast of 181.35 billion yen by 10 analysts polled by Thomson Reuters Starmine.

REUTERS