Nomura Holdings income falls by 80%

2 August 2010

Nomura Holdings reported a fall of 80 per cent in its profits for the first quarter when compared with figures from the same period last year.

According to the broker, it generated a profit of 2.3 billion yuan ($26.6 million) during the period.

The figure was lower than the 11.4 billion yuan seen in the first three months of 2009, the firm explained.

Further statistics from Nomura showed it generated 259.8 billion yuan worth of revenue and 6.5 billion yuan of income before income taxes.

Kenichi Watanabe, president and chief executive officer of Nomura, said: “Although revenues in our wholesale business declined due to the adverse market conditions, we saw further growth in our client franchise and flow businesses.

“Looking ahead, we will continue to build out our revenue base by maintaining our focus on client businesses and supplying liquidity to our clients backed by our robust financial position.”

Earlier in the month, Nomura announced the appointment of Eng Chien Chan as managing director, head of Corporate Sales and Risk Solutions Group, Asia ex-Japan.

By Jim Ottewill

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