Nomura posts 3.8 bn Q3 loss

Nomura Holdings Inc,Japan8217;s largest brokerage,posted its fourth consecutive quarterly net loss on Tuesday,as the cost of buying some of Lehman Brothers8217; operations eroded earnings.

Nomura,which bought the Asian and European operations of failed US investment bank Lehman Brothers to fuel its global expansion,posted a 342.9 billion yen 3.8 billion net loss for October-December,versus a 21.8 billion yen profit a year earlier.

The loss was bigger than an average forecast for a 211 billion yen loss from three analysts surveyed by Reuters Estimates.

Shares in Nomura fell 45 per cent in October-December,underperforming the benchmark Nikkei 225,which fell 21 per cent.