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Nomura's Q3 profit grows despite investment banking slump

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Nomura Holdings Inc , Japan's biggest brokerage and investment bank, reported an 11% rise in quarterly net profit on Wednesday, as a partial stake sale in an affiliate offset a slump in investment banking.

Even as Nomura's investment banking business was underpinned by relatively solid dealmaking activity in Japan, it confirmed layoffs of bankers in Europe and Asia. Reuters last month reported it had cut 18 Asian banking jobs.

Kitamura said the company would stick to its strategy of beefing up its investment banking business, however.

 

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