Nomura Holdings is preparing to reduce parts of its crypto exposure after a difficult quarter for its European digital asset arm, even as executives insist the firm’s long-term commitment to the sector remains intact.
Chief financial officer Hiroyuki Moriuchi said tighter position management will be introduced at the firm’s Switzerland-based subsidiary Laser Digital following losses recorded during the three months ending December 31.
He stressed that recent setbacks were tied to market turbulence rather than a strategic retreat, adding that the group intends to stabilize operations in the near term before pursuing measured expansion over the medium and longer horizon.
Nomura’s third quarter began just before a sharp crypto market reversal in October, when Bitcoin fell dramatically from its early-month peak to much lower levels by the end of December.
The downturn weighed on performance at Laser Digital and other European activities, contributing to a 10.6 billion yen loss tied to those ventures, according to the company’s latest earnings statement.
Despite that setback, Nomura’s overseas businesses still generated 16.3 billion yen in profit, although that figure marked a steep decline of around seventy percent compared with the same period a year earlier.
Overall net income for the quarter reached 91.6 billion yen, down 9.7 percent year-on-year, with executives noting that acquisition costs and buyback expenses also played a role in the reduced bottom line.
Part of the financial impact stemmed from Nomura’s $1.8 billion purchase of asset management operations from Macquarie Group, which added significant one-off costs during the reporting period.
Investors reacted swiftly to the earnings release, sending Nomura shares down nearly seven percent on the Tokyo Stock Exchange as concerns mounted over the crypto losses and weaker overseas profitability.
Market analysts believe the sell-off reflects a broader uncertainty about financial markets rather than panic over crypto exposure alone, with sentiment already fragile before the results were announced.
Hideyasu Ban of Bloomberg Intelligence said “there is a vague sense of unease about the overall market direction, and that seems to have combined with the surprise on the crypto front to set off selling.”
Executives have reiterated that the firm’s approach to digital assets will not be abandoned, but will instead be refined through stricter controls and a more cautious risk framework in the months ahead.
