Nomura has plans to triple cost cuts to $1.2 billion after incurring its first quarterly loss.
According to Bloomberg, though they will focus the expense reductions in Europe, Nomura will also target the wholesale buisness in Japan.
The company posted a 46.1 billion yen ($590 million) loss for the three months ended Sept. 30, wider than the 35 billion yen average estimate among analysts surveyed, Bloomberg noted.
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