Nomura Profit Rises Less Than Estimated on Stock Demand Drop
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Nomura Holdings Inc.’s quarterly profit rose less than analysts estimated as demand for Japanese stocks waned, signaling an earnings boom stemming from Prime Minister Shinzo Abe’s economic stimulus may be losing momentum.
Net income climbed to 38.1 billion yen ($391 million) for the three months ended Sept. 30 from 2.8 billion yen a year earlier, Japan’s biggest securities firm said in a statement today. The result missed the 42 billion-yen average estimate of nine analysts surveyed by Bloomberg.