Nomura Profit Falls as Provisions Outweigh Trading Rebound
Nomura Holdings Inc.’s fourth-quarter profit fell 63 percent as it booked one-time provisions in the Americas that overshadowed a rebound in trading. It set aside more than 30 billion yen in legal costs for “legacy transactions” that preceded its purchase of Lehman Brothers Holdings Inc. assets in 2008, Chief Financial Officer Takumi Kitamura said at a briefing, declining to elaborate. Nomura announced plans to buy back more shares.