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Finance

Nomura slides to loss amid $2.87bn hit in US from Archegos

Japanese investment bank strengthens control over hedge fund business

Japanese brokerage house Nomura faces steep losses due to the collapse of Archegos Capital. (Photo by Ken Kobayashi)

TOKYO -- Nomura Holdings on Tuesday said its losses from the collapse of U.S. investor Archegos Capital Management would amount to 307 billion yen ($2.87 billion), sending the Japanese brokerage house to a steep quarterly loss.

Nomura reported a 245.7 billion yen loss related to "transactions with a U.S. client" -- a reference to Archegos -- for the January-March quarter, the last of its fiscal year. The company also said it would book losses worth an expected 62 billion yen in the current fiscal year related to the same transaction.

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