Nomura Holdings' profit sinks 76% as banking turmoil hits trading
Net income slid 76 per cent from a year earlier in the three months ended March 31 to $55 million, Japan's largest brokerage said in a statement on Wednesday
 "Nomura Holdings' profit sinks 76% as banking turmoil hits trading")
Nomura Holdings’s profit fell as fixed income trading revenues were hit by a spike in volatility in March and deal-making slumped on muted client activity. Net income slid 76 per cent from a year earlier in the three months ended March 31 to $55 million, Japan’s largest brokerage said in a statement on Wednesday. The figure missed an average estimate of 38.5 billion yen.
Frankfurt offices raided
Nomura ’s Frankfurt offices are being raided as part of a vast German probe into the Cum-Ex tax dividend scandal. A spokesman confirmed that prosecutors attended the offices in connection with an investi-gation into historic transac-tions in German stock arou-nd the dividend record date.