Nomura Holdings Inc. said it may sell businesses to raise capital and will cut executive pay after posting a fourth straight quarterly deficit on trading losses and the costs of acquiring parts of Lehman Brothers Holdings Inc.
The nation's largest brokerage will divide itself into "core" and "noncore" operations and may sell some units, Chief Financial Officer Masafumi Nakada said at a media briefing. On Tuesday, Nomura reported a record ¥342.9 billion deficit for the fiscal third quarter.
The company posted a trading loss of ¥134.5 billion, compared with a ¥65.1 billion profit a year earlier, as the MSCI World Index dropped 22 percent. Chief Executive Officer Kenichi Watanabe has flagged costs of $2 billion to take over Lehman's Asian and European units and said he isn't sure when the purchase will start generating earnings.