Nomura Profit Triples to Seven-Year High on Investment Banking
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Nomura Holdings Inc.’s quarterly profit more than tripled to the highest in seven years, beating analysts’ estimates as investment banking fees and brokerage commissions surged.
Net income rose to 82.4 billion yen ($835 million) for the three months ended March 31 from 22.1 billion a year earlier, Japan’s biggest brokerage said yesterday. The result exceeded the 56 billion yen average estimate of nine analysts.