FILE PHOTO: A man walks past a signboard of Nomura Securities outside its branch in Tokyo, Japan. REUTERS/Yuya Shino
HONG KONG: Nomura Holdings Inc’s investment banking business in Asia is set to return to profit this fiscal year after more than a decade of losses since its Lehman Brothers Holdings Inc acquisition, according to its division chief.
Cost cuts and fees from financing will drive the profit rebound in the year ending March 31, said Kenji Teshima, head of investment banking for Asia excluding Japan.
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