Nomura Sinks to Crisis-Level Valuation as Bad News Keeps Coming
This article is for subscribers only.
The relentless slide in shares of Nomura Holdings Ltd. is headed for unprecedented territory.
Japan’s largest brokerage sank toward its lowest close since 2012 on Wednesday, sending the firm’s valuation to 0.43 times net assets. That’s within a hair’s breadth of an all-time low set during the European debt crisis in 2011 and leaves Nomura trading at a record discount versus global financial shares, according to data compiled by Bloomberg.