Nomura finding its feet in Asian investment-banking venture after setbacks

Nomura Holdings’ investment banking business in Asia is set to return to profit this year after more than a decade of losses since its Lehman Brothers Holdings acquisition, according to its division chief.

Cost cuts and fees from financing will drive the profit rebound in the year ending March 31, said Kenji Teshima, head of i-banking for Asia (excluding Japan). Revenue is set to rise by about one third, led by private financing and dealmaking in India and Australia, he said, while warning that some transactions in China may be affected by the coronavirus outbreak.

Japan’s biggest securities firm last year unveiled