Though a disposal helped Nomura's quarterly earnings, boss Koji Nagai also managed to boost wholesale revenue outside Japan while cutting costs. Combined with a recent share price bounce, he’s earned a bit more shareholder patience, says petesweeneypro:
Nomura reported its strongest quarterly profit in more than 17 years on Oct. 29, lifted by the sale of a stake in an affiliate as well as trading gains and an improved performance from its wholesale division.
Net income for the country’s biggest brokerage and investment bank came in at 138.6 billion yen in the second quarter, compared with a loss of 11.2 billion yen in the same period a year ago.
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