Nomura Profit Up as Unit Sale Offsets U.S. Expenses – BloombergApril 26, 2022
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A Nomura branch in Tokyo.
Takashi Nakamichi and
Nomura Holdings Inc. posted a fourth straight quarter of profit as Japan’s largest brokerage booked gains from a stake sale in one of its affiliated companies, offsetting further expenses for a legal case in the U.S.
Net income totaled 31 billion yen ($242 million) in the three months ended March 31, the firm said in a statement Tuesday. Nomura said it will buy back up to 30 billion yen of its own stock. It also pocketed 42.8 billion yen by unloading part of its holding in Nomura Research Institute Ltd., its second sale in less than a year of NRI stock.