October 31, 2018 / 6:24 AM / 21 days ago

Nomura posts Q2 loss on U.S. settlement, weak wholesale business

TOKYO, Oct 31 (Reuters) - Nomura Holdings, Japan’s biggest brokerage and investment bank, posted a quarterly net loss on Wednesday after booking a 20 billion yen charge for a U.S. settlement that it had already flagged previously.

The company’s results were also weighed down by a steep fall in profits from its wholesale division, hurt by weak fixed-income revenues in the United States and Europe.

Nomura said in a statement it posted a net loss of 11.2 billion yen ($98.90 million) for its second quarter ended in September, versus a 51.9 billion yen profit a year earlier.

Earlier this month, Nomura agreed to pay $480 million to resolve civil claims by the U.S. government that it misled investors in marketing residential mortgage-backed securities. The company had said it estimated the settlement would result in about 20 billion yen impact on its second-quarter results. ($1 = 113.2500 yen) (Reporting by Taiga Uranaka; Editing by Muralikumar Anantharaman)

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