Nomura to post 300 billion yen loss?

NOMURA Holdings Inc , Japan's largest brokerage, is expected to post a net loss of 300 billion yen in October-December as market turmoil hit its trading business, Japanese daily Nikkei reported on Sunday.

In addition, Nomura also plans to report nearly $2 billion in the fourth quarter as costs related to its acquisition of Lehman Brothers Holdings Inc's operations in Asia, Europe and Middle East after the US brokerage's failure, Nikkei said.

The fourth-quarter loss would be Nomura's worst since April-June 2001, when it began disclosing quarterly results under U.S. accounting standards, Nikkei said.

A Nomura spokesman declined to confirm the report, saying that the numbers in the newspaper were not announced by the company.

Nomura is scheduled to announce is earnings on Tuesday.

The brokerage posted its third consecutive quarterly net loss last October as financial market turmoil led to big trading losses and discouraged companies from issuing shares or making deals. — THOMSON REUTERS