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Nomura's Top Executives Forgo Bonuses as Profit Almost Wiped Out

  • Most of Nomura’s business lines slumped in the quarter
  • Posts first full-year loss since global financial crisis
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Chizuru Tateno of S&P Global Ratings talks about Nomura Holdings Inc.’s results and outlook.(Source: Bloomberg)
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Nomura Holdings Inc.’s deteriorating earnings have spurred the company to embark on $1 billion of expense cuts, costing traders and bankers from Singapore to New York their jobs. Now its top executives are sharing the pain.

In a rare move for Japan’s largest securities firm, bonuses of about 60 executives, including senior managing directors, will be scrapped, Nomura said after reporting quarterly earnings on Thursday. The hit to the paychecks came as fourth-quarter profit plummeted 96 percent from a year earlier.