Nomura - expects net loss of JPY billion ( $ 173 m ) , down from a net profit of JPY billion ( $ 757 million ) YoY , marking its first quarterly loss since 2011 , due to volatile financial markets . Nomura also announced it would target $ 175 m in cuts to its wholesale division within the next two years in a bid to return its overseas operations to profit by March 2017 .
Nomura - 1Q16 net loss of JPY 19.2bn ($173m), down from a net profit of JPY 82bn ($757m) YoY, marking its first quarterly loss since 2011, due to volatile financial markets. Nomura also announced it will target $700m in cuts to its wholesale division within the next two years in a bid to return its overseas operations to profit by March 2017.