Nomura Holdings Inc. said Friday it booked a group net loss of ¥67.8 billion in the business year ended in March due to losses related to U.S. subprime mortgage loans and falling stock prices.
The loss is a far cry from the previous year, when the nation's largest brokerage took in ¥176 billion in profits.
Because of the credit crunch in the U.S., Nomura was blindsided by the deteriorating state of monoline insurers it had hired to hedge its risk.