TOKYO Jan 30 Nomura Holdings Inc beat
analyst estimates by reporting a 2.4-fold on-year rise in
third-quarter net profit, with earnings boosted by a surge in
stock trading by individual investors and sales of mutual funds.
Japan's largest investment bank has been cashing in on
retail investors' renewed interest in stocks as prices are
spurred higher by government pro-growth policies.
In a statement on Thursday, the bank said net profit reached
48.3 billion yen ($472.37 million) in October-December from 20.1
billion yen a year earlier.
That compared with the 41.2 billion yen mean estimate of
three analysts polled by Thomson Reuters.
Shares of Nomura ended 3.9 percent lower ahead of the
earnings release compared with a 2.5 percent decline in the
benchmark stock index.
($1 = 102.2500 Japanese yen)
(Reporting by Nathan Layne; Editing by Christopher Cushing)