Nomura Holdings shares fell after its fourth-quarter profit missed analysts¡¯ estimates, due to writedowns and a loss in Europe.
The results released after the market closed on Friday overshadowed a second straight year of record earnings for Japan¡¯s biggest brokerage. Impairments on its stakes in its research affiliate and a forestry company contrasted with otherwise solid results from its wealth management, trading and investment-banking operations.
The shares slid as much as 6.5% in Tokyo on Monday morning, and are now down more than 4% this year, contrasting with the benchmark Topix¡¯s 9.7% advance. Net income rose 2.7% from a year earlier to ?73.9 billion ($463 million) in the three months ended March 31, missing analysts¡¯ estimates for ?98.9 billion.
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