Market
28 Apr 2021
Nomura’s FY20 profit drops 29% as Archegos loss bites
The pre-tax income from Nomura’s wholesale segment has dropped 30% to JPY64.3 billion (US$591m) in the FY20/21 ended in March year-on-year (YoY) after the Japanese bank booked a loss of US$2.3 billion arising from Archegos Capital Management, which it referred to as a ‘US client’ in its financial statements.