Nomura Holdings posted a smaller loss at its joint venture in China last year, as the brokerage seeks to turn around the business in the face of slowing growth and trade tensions.
Net loss at Shanghai-based Nomura Orient International Securities narrowed 30% to 128.7 million yuan ($18 million) in the year ending Dec. 31, a statement showed this week, marking the second straight year of improvement.
Nomura’s majority-owned venture with Oriental International and Shanghai Huangpu Investment has continued to lose money since its inception in late 2019. Despite last year’s improvement, credit impairment losses more than doubled, it said.
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