Nomura Holdings, Japan’s largest investment bank, is cutting an additional $1 billion in costs in the second major restructuring of its loss-making overseas operations in less than a year. The cuts are to come from its wholesale division which houses investment banking, equities and fixed income operations, and would be completed by the next financial year that runs through March 2014. The new plan will come on top of a $1.2 billion cost savings move launched last year.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.