Japan's largest brokerages, whose first-half profits soared more than 10-fold as Prime Minister Shinzo Abe's economic stimulus program bolstered investors' appetite for local stocks, may find that the magic is wearing off.
Nomura Holdings Inc. reported Tuesday that its second-quarter net income rose to ¥38.1 billion from ¥2.8 billion a year earlier.
Profit at Daiwa Securities Group Inc. climbed to ¥35.5 billion for the three months that ended Sept. 30, up from ¥7.4 billion. Profit at both firms declined from the first quarter.