Nomura Holdings Inc. returned to profit in the third quarter on a ninefold surge in the value of local equity sales as banks issued new stock to bolster capital.

Net income was ¥10.2 billion for the three months ended Dec. 31, compared with a record quarterly loss of ¥342.9 billion a year earlier when the acquisition of units from Lehman Brothers Holdings Inc. drove up staff costs, according to a statement Tuesday.

Revenue at Nomura surged to ¥322 billion from ¥2.7 billion as companies raised a combined ¥2.96 trillion in the biggest quarter for equity and equity-linked sales in at least a decade. Chief Executive Kenichi Watanabe is also seeking growth outside Asia by boosting his U.S. workforce.