$Native Mineral Resources Holdings Ltd (NMR.AU)$Nomura Holdings Inc. posted a 95% slump in second-quarter profit due to a one-off provision in the Americas and announced plans to buy back 50 billion yen ($440 million) of shares. Net income at Japan’s biggest brokerage totaled 3.21 billion yen in the three months ended Sept. 30 after it booked a 39 billion yen provision that dates back to before the global financial crisis, it said in a statement Friday. The firm said it plans to buy back as much as 2.5% of its outstanding shares. In earnings that Chief Financial Officer Takumi Kitamura called “very disappointing,” a 26% jump in investment banking revenue and a 14% rise in revenue from investment management weren’t enough to offset the provision. Revenue from retail fell 8% year on year, while revenue from wholesale dropped 22%. The results deal a further blow to Nomura following the collapse of Archegos, an obscure investment firm set up to manage the fortune of trader Bill Hwang, that cost the brokerage $2.9 billion. Only Credit Suisse Group AG suffered a bigger hit at $5.5 billion. Nomura said it would set up a board risk committee comprising outside directors and a non-executive director to enhance risk management and conduct “rigorous” controls and business oversight. Article excerpted from yahoo.
Native Mineral Resources Holdings Ltd股票讨论区
Net income at Japan’s biggest brokerage totaled 3.21 billion yen in the three months ended Sept. 30 after it booked a 39 billion yen provision that dates back to before the global financial crisis, it said in a statement Friday. The firm said it plans to buy back as much as 2.5% of its outstanding shares.
In earnings that Chief Financial Officer Takumi Kitamura called “very disappointing,” a 26% jump in investment banking revenue and a 14% rise in revenue from investment management weren’t enough to offset the provision. Revenue from retail fell 8% year on year, while revenue from wholesale dropped 22%.
The results deal a further blow to Nomura following the collapse of Archegos, an obscure investment firm set up to manage the fortune of trader Bill Hwang, that cost the brokerage $2.9 billion. Only Credit Suisse Group AG suffered a bigger hit at $5.5 billion.
Nomura said it would set up a board risk committee comprising outside directors and a non-executive director to enhance risk management and conduct “rigorous” controls and business oversight.
Article excerpted from yahoo.
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