Nomura Shares Fall 5.3% Following Lower-Than-Expected Q3 Profit
Nomura Holdings’ crypto unit Laser Digital reported a ¥10.6 billion loss amid October–November market volatility, prompting reduced exposure and bolstered risk management in response to heightened digital asset instability.
Nomura Holdings’ crypto subsidiary Laser Digital posted a ¥10.6 billion ($68 million) loss during October–November 2025 due to sharp market swings. The firm’s CFO confirmed they had maintained some long positions but have since scaled back exposure and reinforced their risk management framework. These losses contributed to Nomura’s fiscal Q3 net income drop of 9.7% year-on-year to $590 million, following the October 10 flash crash that erased over $19 billion in leveraged crypto positions and slashed Bitcoin prices by 31% from their peak. Nomura announced tighter position controls to curb earnings volatility, while Laser Digital Americas had recently applied to establish a U.S. national trust bank for expanded digital asset services.
- Crypto flash crash: A sudden, severe drop in cryptocurrency prices, often triggering liquidations of leveraged positions and market-wide volatility.
- Leveraged positions: Investment strategies using borrowed funds to amplify returns, which also increases the risk of larger losses.
- National trust bank: A U.S. federally chartered financial institution authorized to offer asset management and fiduciary services.