Overseas operations at this Japanese bank are No-mur-a in the red
Net income leapt 31 per cent at Japanese bank Nomura as the broker benefited from an increased investor appetite for currency hedges and bonds.
Nomura posted ¥61bn (£476m) of net income for the three months to September, underpinned by strong domestic performance and overseas operations swinging back into the black.
Read more: This investment bank has been crowned Britain's healthiest workplace
Japan's largest broker has notched up hundreds of billions of yen losses over recent years. But after announcing a restructuring in April, the figures indicate that the tide is starting to turn already.
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Overseas operations recorded a quarterly pre-tax profit of ¥23.2bn, swinging from a loss of ¥45.8bn a year earlier.
"We've started to see some brightness in the market," said finance chief Takumi Kitamura.
"We expect uncertainty to clear once events such as the [US] election and [Federal Open Market Committee meeting] in November are finished."