Nomura Posts $7.3B Loss on Lehman Costs

Trading losses amid a global stock market plunge and losses related to real-estate assets also added to the red ink, according to Nomura.

Standard & Poor's said Friday the ratings on Nomura were unaffected by the losses, which were within expectations.

"The challenge for Nomura is to reduce expenses, which ballooned due to the acquisition of the business units of Lehman Brothers, to an adequate level in this severe business environment as a substantial recovery in earnings is unlikely," the ratings agency said.

Nomura shored up its capital base by issuing common stock worth 300 billion yen, which supports its credit quality, S&P said.

Nomura President and CEO Kenichi Watanabe said Nomura remained on a sound footing with a "solid capital base," despite the losses.

"We are now focusing on returning to profitability," Watanabe said.

Nomura's retail operation expanded during the fiscal year, adding more than 600,000 accounts, the company said.

Nomura said Friday it had reduced the number of global employees by more than 2,100 from its peak numbers in October to about 25,600 people.