Nomura Holdings Inc., Japan’s largest securities firm, is on pace to achieve the biggest annual profit in eight years after a surge in the country’s stock market helped third-quarter earnings more than double.
Nomura Holdings Inc. shares rose, recovering from a tumble that had pushed its valuation to the lowest in more than 10 years as Olympus Corp.’s disclosure of hidden losses shook confidence in Japanese stocks and led to a rout at a firm already battered by setbacks abroad.
Nomura Holdings Inc. trailed the world’s biggest investment banks last quarter in generating shareholder returns, underscoring the challenge for Chief Executive Officer Koji Nagai in trimming costs without sacrificing revenue.
Nomura Holdings Inc. named Steven Ashley as global head of fixed income following the resignations of two top bankers who joined when Japan’s biggest brokerage bought Lehman Brothers Holdings Inc. operations in 2008.
Nomura Holdings Inc. , Japan’s largest brokerage, said profit plunged 96 percent to the lowest in six quarters as trading income and brokerage commissions fell and Asian and European operations posted losses.