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TOKYO, April 30 (Reuters) - Daiwa Securities Group Inc on Wednesday reported a 31 percent fall in fourth-quarter profit after investors lost enthusiasm in government economic policies that sparked a surge in stock prices last year.
Daiwa, Japan’s second-largest broker after Nomura Holdings Inc, booked a net profit of 33.2 billion yen for January-March from 48.8 billion yen in the same period a year earlier.
The result compared with the 30.7 billion yen mean estimate of 2 analysts polled by Thomson Reuters. (Reporting by Ritsuko Ando and Nathan Layne; Editing by Christopher Cushing)