TOKYO: Nomura Holdings Inc, Japan's biggest brokerage and investment bank, on Friday reported a 66% drop in first-quarter net profit due to a slowdown in the trading business and a previously flagged loss from the Archegos debacle.
April-June profit came in at 48.5 billion yen ($442.76 million), beating market expectations by 13% but down sharply from 142.5 billion yen a year earlier, when buoyant U.S. trading revenue drove the bank to its best quarterly earnings in almost two decades.
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