Japan's Nomura Returns to Profitability
Stock quotes in this article:
NMR
TOKYO (TheStreet) -- Japan's top brokerage Nomura(NMR Quote) reported its first profit in six quarters as global markets rebounded and its retail and asset management businesses generated stable revenue.
Nomura reported fiscal first-quarter earnings of 11.4 billion yen ($121.1 million). The loss a year earlier was a record 76.6 billion yen after the company incurred costs related to buying parts of Lehman Brothers.
"While market conditions remain uncertain, we are making steady progress towards our objective of achieving a full-year profit," said CEO and President Kenichi Watanabe, in a statement Wednesday.
Net revenue in the quarter more than doubled to 298.4 billion yen.
Reported by Joseph Woelfel in New York.
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