Nomura Jumps More Than 2.5% on Strong Earnings Report

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© Reuters. © Reuters. – Japan-listed brokerage Nomura Holdings Incs’ (T:) share prices jumped more than 2.5% on Wednesday in Asia after the company reported strong quarterly profits.

Net income came in at 138.6 billion yen in the three months ended Sept. 30, the report showed. That compared with an 11.2 billion yen loss a year earlier.

The company’s shares last traded at 512 yen by 11:59 PM ET (03:59 GMT), up 2.6%. The stock climbed as much as 4.4% earlier in the day to 521 yen.

Shares of Nomura surged 55% in the last four months after the company started a cost-cutting program to help spurring a profit recovery.

The company has now completed about 60% of its restructuring program, said Chief Financial Officer Takumi Kitamura.

“We haven’t yet carried through all of our structural reforms,” he said. “We will proceed with the overhaul to build a business base that will make it possible for us to grow in a sustained manner.”

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