Nomura first quarter profit skids 32%

Nomura

Holdings said firstquarter profit fell nearly a third as customers held onto savings rather than bet on assets like stocks and bonds, hit by uncertain global markets and negative interest rates. The brokerage said yesterday its April-June net profit slid to 46.8 billion yen (Dh1.6 billion, $447 million) from the same period a year ago. The biggest single factor: an 83 per cent slump in pretax profit from its retail business. Nomura was reporting earnings for the first time since April’s big job cuts. (Reuters)