Nomura Moves On From Archegos Saga With Swing to Profit
- Investment banking revenues surge, tracking Wall Street peers
- Assets under management climb to all-time high on flows
The Nomura Holdings Inc. headquarters in Tokyo.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Nomura Holdings Inc.’s expanding domestic retail business and a busy quarter of deal-making helped Japan’s biggest brokerage absorb the last of the losses tied to the implosion of Archegos Capital Management.
A 65.4 billion yen ($597 million) loss linked to a U.S. client weighed on net profit, dragging it back 66% in the three months ended June 30. Revenue from investment banking more than doubled from a year earlier and its domestic business serving retail investors saw assets climb to a record.