Nomura Q1 profit skids 32%

TOKYO: Nomura Holdings Inc, Japan’s largest brokerage, said its first-quarter profit fell nearly a third as investors held onto savings rather than bet on assets like stocks and bonds, hit by uncertain global markets and negative interest rates.

Nomura said its April-June net profit dropped to 46.8 billion yen (US$447mil) from 68.7 billion yen in the same period a year earlier.