Nomura Holdings, Japan's largest wealth manager, has made headlines by reducing its cryptocurrency positions amid significant financial losses. According to the official information, this decision, stemming from the company's European subsidiary, Laser Digital, reflects the ongoing challenges in the volatile digital asset market.
Nomura Reports Significant Drop in Net Income
In the third quarter of fiscal 2025, Nomura reported a staggering 97% drop in net income, prompting the firm to reassess its exposure to cryptocurrencies. CEO Hiroyuki Moriuchi emphasized that despite these setbacks, the company remains committed to digital assets, indicating a long-term vision amidst short-term challenges.
Impact on Cryptocurrency Market
The reduction in cryptocurrency holdings has had immediate repercussions on the market, contributing to declines in major assets like Bitcoin and Ethereum. However, in a show of confidence in its core business, Nomura also announced a substantial share buyback program worth 60 billion yen, signaling its intent to strengthen its financial position while navigating the turbulent landscape of digital currencies.
In a recent development, Laser Digital, Nomura's digital assets division, has reduced its cryptocurrency holdings following significant losses in Q3. This decision highlights the ongoing challenges in the crypto market, as detailed in the latest report.
