Nomura profit misses estimates

Nomura Holdings Inc, Japan’s biggest brokerage, posted third-quarter profit that missed analysts’ estimates as a drop in investment banking fees overshadowed gains from brokerage commissions.

Net income rose 13 per cent to 20.1 billion yen ($221 million) for the three months ended December 31, compared with 17.8 billion yen a year earlier, the Tokyo-based company said in a statement on Thursday. The result missed the average 31 billion yen profit estimate of eight analysts surveyed.