Nomura net declines as firm postpones overseas earnings goal

Nomura Holdings Inc, dragged down by its money-losing business outside Japan, posted a 49 per cent drop in third-quarter profit and said an earnings goal for overseas operations will be reached later than initially targeted. Net income declined to 35.4 billion yen ($294 million) in the three months ended December 31 as brokerage commissions and investment-banking fees slumped, Japan's biggest brokerage said on Tuesday. Chief Financial Officer Shigesuke Kashiwagi said the firm will postpone its overseas pretax profit target of 50 billion yen for the financial year ending in March after the results showed the firm lost 63 billion yen abroad in the first nine months.