Nomura expected to expand equity capital markets and M&A operations considerably

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Nomura's second-quarter earnings rose more than analysts estimated as Japan’s biggest securities firm reaped higher brokerage commissions and trading revenue and returned to profit abroad.

Bloomberg News reports that net income climbed 39% from a year earlier to US$490m for the three months ended Sept. 30, Nomura said in a statement in Tokyo.

Retail brokerage operations have led a resurgence in profit at Nomura, prompting Moody’s Investors Service to raise its credit rating this month. Investment-banking income, which fell last quarter, may pick up after the firm was chosen to coordinate share sales including state-owned Japan Post Holdings Co.’s initial public offering.

'We expect Nomura to boost income from wholesale businesses,' said Koichi Niwa, an analyst at SMBC Nikko Securities Inc. in Tokyo. 'The brokerage will probably expand its equity capital markets and mergers and acquisition advisory operations considerably, depending on market conditions.'

Hit the link below to access the complete Bloomberg News article:

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