TOKYO (Reuters) - Nomura Holdings Inc (T:8604) said it swung to a net profit in its fiscal fourth quarter as strength in its wholesale business, driven by revenue from bond trading, helped its overseas business record its first annual profit in seven years.
Japan's biggest brokerage and investment banking group said in a statement on Thursday its January-March net profit was 61.3 billion yen (£427.70 million), compared with a net loss of 19.2 billion yen in the same period a year earlier. Its overseas operations posted a quarterly pre-tax profit of 16.7 billion yen.
Nomura's net profit for the 12 months ended March rose 82.1 percent to 239.6 billion yen, compared to an average forecast of 236.33 billion yen of seven analysts surveyed by Thomson Reuters, its best annual performance since 2006.
Nomura also said it would buy back its own shares worth up to 80 billion yen, or 2.6 percent of its outstanding shares.