Nomura Holdings Inc., the nation's largest brokerage, posted on Tuesday an unexpected first-quarter loss as trading profit slumped and it recorded additional provisions for bond insurers.
The net loss of ¥76.6 billion for the three months ended June 30 compared with a profit of ¥75.9 billion a year earlier.
Since Chief Executive Officer Kenichi Watanabe, 55, took the helm in April, profits from trading and underwriting sales of stocks and bonds dried up as the global credit crisis deepened. Nomura, which failed to increase profit for the seventh time in eight quarters, aims to quadruple annual revenue from Asia to ¥100 billion in five years.