Nomura said hindered by 'one time event'

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Nomura missed its goal of returning to profit outside Japan last fiscal year, people with knowledge of the matter said.

Bloomberg News reports that the pretax loss in Europe, the Americas and Asia for the year ended March was due to a one-time event and narrowed from $207m a year earlier, said the people, without identifying the event.

Nomura will keep its target to earn $420.2m from overseas this year, the people said, asking not to be named before results due Thursday.

'Although it looks negative to see that the company missed the target, I get the sense that the losses abroad are under control and won’t be permanent', said Mitsushige Akino, an executive officer at Ichiyoshi Asset Management in Tokyo. 'At the same time, the restructuring has been too slow and they’re still lacking growth drivers overseas'.

An increase in fiscal fourth-quarter profit would mean Nomura beat the average estimate of $492m among eight analysts surveyed by Bloomberg.

To access the complete Bloomberg News article hit the link below:

Nomura Misses Goal of Returning to Profit Abroad

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