Nomura trims crypto exposure after Q3 profit declines abroad
Nomura will reduce its cryptocurrency exposure, citing difficult market conditions and a decline in third-quarter overseas profits.
Chief financial officer Hiroyuki Moriuchi said the firm plans to scale back risk at its European digital asset subsidiary, Laser Digital Holdings, after it posted losses in the quarter ended Dec. 31, Bloomberg Japan reported on Friday.
Moriuchi noted that the subsidiary was affected by volatility in digital asset markets and that Nomura will prioritize stability through strict position management over the coming months. He added that the bank’s long-term commitment to digital assets remains in place, with plans to expand the Switzerland-based unit over the medium to long term.
Nomura’s Q3 began shortly before a significant downturn in crypto markets in October, which saw Bitcoin (BTC) fall from a $126,000 peak on Oct. 6 to around $88,000 by Dec. 31, according to CoinGecko data.
In third-quarter results released Friday, the firm said its European operations — spanning both crypto and non-crypto businesses — recorded a loss of 10.6 billion yen ($68.47 million). Overseas businesses were still profitable overall, generating 16.3 billion yen ($105.29 million), a 70% decline from the same quarter a year earlier.
The company reported net income of 91.6 billion yen ($590 million), down 9.7% from Q3 2024. The results reflected the impact of its $1.8 billion acquisition of Macquarie Group’s U.S. and European public asset management business, along with other costs related to a share buyback program.
Source: Nomura Holdings
Nomura shares on the Tokyo Stock Exchange fell about 6.8% on Monday following the Q3 announcement.
“There is a vague sense of unease about the overall market direction, and that seems to have combined with the surprise on the crypto front to set off selling,” Hideyasu Ban, a senior analyst at Bloomberg Intelligence, told The Japan Times on Sunday.
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