Nomura Jumps More Than 2.5% on Strong Earnings Report

This post was originally published on this site
https://i-invdn-com.akamaized.net/news/LYNXNPEC3B0GY_M.jpg
© Reuters. © Reuters.

Investing.com – Japan-listed brokerage Nomura Holdings Incs’ (T:) share prices jumped more than 2.5% on Wednesday in Asia after the company reported strong quarterly profits.

Net income came in at 138.6 billion yen in the three months ended Sept. 30, the report showed. That compared with an 11.2 billion yen loss a year earlier.

The company’s shares last traded at 512 yen by 11:59 PM ET (03:59 GMT), up 2.6%. The stock climbed as much as 4.4% earlier in the day to 521 yen.

Shares of Nomura surged 55% in the last four months after the company started a cost-cutting program to help spurring a profit recovery.

The company has now completed about 60% of its restructuring program, said Chief Financial Officer Takumi Kitamura.

“We haven’t yet carried through all of our structural reforms,” he said. “We will proceed with the overhaul to build a business base that will make it possible for us to grow in a sustained manner.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment