Market Report - Normuma Takes Hit from Lehman Acquisition

In todays Market Report Nomura, Japan's top brokerage, will reportedly will see a net loss of $3.3 billion in the last quarter.

The loss reflects market turmoil accompanying a dramatic Japanese share decline amid the global financial crisis.

The Nikkei newspaper reports Nomura will also report nearly $2 billion in costs tied to acquiring Lehman Brothers operations in Asia, Europe and the Middle East after its failure.

The acquisition did not involve any debt held by the failed U.S. brokerage, which reportedly had over $8.4 billion in Japan-related liabilities.

Nomura declined to confirm the report, but if realized, the October-December loss would be its worst since it began disclosing quarterly results in 2001.

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