Nomura profit edges up

City A.M. Reporter
Japan’s largest investment bank Nomura posted its fourth consecutive quarterly profit this morning.

Nomura posted a net profit of 2.81bn yen (£21.9m) over the three months to September, compared to a loss of £46.09bn yen the year previously.

An upswing in bond trading and fixed income products boosted profits.

Profit in fixed income operations doubled to 88.6bn yen from a year earlier, helping Nomura's wholesale division swing to a modest profit of 200m yen from a year earlier 70.7bn yen loss.