TOKYO -- Four of Japan's largest brokerage groups reported a combined 57% increase in net profit for the year ended March 31, but there are signs that U.S. policy is having a chilling effect on the activities that drove these gains.
Nomura Holdings, Daiwa Securities Group, SMBC Nikko Securities and Mitsubishi UFJ Securities Holdings logged a combined net profit of 641.6 billion yen ($4.5 billion), earnings results released through Wednesday show.
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