In the trading year 2001/02 15 out of the 20 listed Japanese brokerage firms failed to return a profit. Nomura was able to book a substantial profit from the sale of British pubs and this certainly helped what otherwise would have been a disappointing year.
Japan's number two brokerage house Daiwa reported an 85.5% fall in profits for last year. Nikko profits fell 98.4%.
Nomura Remains Profitable
Nomura Holdongs Inc, Japan's biggest brokerage house, reported a 43.4% dive in profits to $801.6m for the year to 31st March. It is, however, one of only a handful of Japanese brokerages that remained profitable on the year.
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