Nomura Cut Italian Assets by 83% Since September Amid Crisis
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Nomura Holdings Inc., Japan’s largest brokerage, reduced assets linked to Italy by 83 percent from the end of September as it slashed southern European holdings amid the region’s widening sovereign debt crisis.
The total for Italy was reduced to $467 million as of Nov. 24 from almost $2.82 billion, according to a statement posted on the Tokyo-based company’s website late yesterday. The securities firm cut the value of assets linked to Spain by 62 percent from Sept. 30 to $175 million, while Greece’s was cut 43 percent to $27 million, it said.