Nomura Holdings climbed back into the black in the first quarter of its 2009 financial year after five quarters in the red. Three of its five divisions (retail, global markets and asset management) posted profits, while merchant banking and investment banking reported losses.
Overall, net revenue jumped 121% year-on-year to ¥298.4 billion ($3.1 billion) in the April to June quarter, with pre-tax income coming in at ¥31.4 billion. Net income was ¥11.4 billion. But return-on-equity was only 3%, a far cry from the management's stated target of 10%-15%.For ...