Nomura announces full year and quarterly results

by Richard Kilner

Story link: Nomura announces full year and quarterly results

Nomura Holdings, Inc. has announced its financial results for the fourth quarter and full year ended on 31 March 2009.

For the full year net revenue of 313bn yen (US$3.2bn) and pre-tax losses of 779bn yen (US$7.9bn) were recorded.

Nomura incurred a net loss of 709bn yen (US$7.2bn) over the course of the last 12 months.

The net losses are primarily caused by one-off writedowns, expenses and trading losses, including costs relating to acquisitions from Lehman Brothers.

The firm has also moved to try and reduce its exposure to illiquid assets as far as possible.

In Q4 Nomura reported 99bn yen of net revenue, a pre-tax loss of 226bn yen and a net loss of 217bn yen.

In December of last year Nomura announced it was cutting 1,000 jobs in London following its Lehman acquisitions.

Kenichi Watanabe, president and chief executive officer of Nomura, has stated that the firm still enjoys a solid capital base despite the significant losses.

Watanabe also indicated that the firm’s top priority was a swift return to the black through a combination of its traditional customer-focused approach and its newly enhanced global franchise.