TOKYO -- Foreign operations have buoyed earnings at Japan's major securities brokerages, which are grappling with sluggish retail trading at home.
Sixteen out of 21 of Japan's main securities brokerages logged lower net profit in fiscal 2016 than the previous year, but the largest ones did well thanks to their role in overseas acquisitions and fixed-income trading in the U.S market. Second- and mid-tier brokerages are now also working to strengthen their businesses abroad.
