• Bloomberg


Nikko Cordial Corp., the Japanese securities unit of Citigroup Inc., said Monday second-quarter profit more than doubled on trading gains and the sale of a stake in Seibu Holdings Inc. railway, hotel and resort chain.

Net income rose to ¥24.1 billion for the three months ended Sept. 30, compared with ¥10.2 billion a year earlier, as Nikko earned more from investments and asset management, the Tokyo-based brokerage said. Revenue rose to ¥138.3 billion from ¥118 billion.

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