Nomura Cuts Crypto Exposure After Q3 Profit Decline
Tokyo, February 2 – Japanese financial services group Nomura Holdings announced plans to trim its crypto‑related risk ahead of its third‑quarter earnings release, citing a steep drop in overseas profit and heightened market volatility.
Key facts from the earnings release
| Metric | Q3 2025 | Q3 2024 | YoY change |
|---|---|---|---|
| Net income (¥) | 91.6 bn ($590 m) | 101.3 bn | –9.7 % |
| Profit from overseas ventures (¥) | 16.3 bn ($105 m) | 53.8 bn | –70 % |
| Loss from crypto & non‑crypto European operations (¥) | 10.6 bn ($68 m) | – | – |
| Bitcoin price (Oct 6 – Dec 31) | $126 k → $88 k | – | – |
| Share price reaction | –6.8 % on the TSE (Monday) | – | – |
The CFO, Hiroyuki Moriuchi, said Nomura will “tighten position management” at its European digital‑asset platform Laser Digital Holdings after the subsidiary posted a quarterly loss. The move is part of a broader effort to reduce exposure to the turbulent crypto market while preserving the firm’s long‑term commitment to digital assets.
Context: Crypto market turbulence
Nomura’s Q3 period coincided with a sharp correction in the cryptocurrency space. Bitcoin, which peaked at $126,000 on 6 October 2025, slid to roughly $88,000 by the end of December, according to CoinGecko data. The slump affected many institutional players, and Nomura’s European crypto venture was not immune.
Strategic outlook
Despite the near‑term pull‑back, Nomura’s leadership stressed that the firm’s “commitment to crypto remains unchanged.” The group is reportedly looking to expand its Switzerland‑based subsidiary, which holds a Japanese crypto licence, as part of a medium‑ to long‑term growth strategy.
Analyst Hideyasu Ban of Bloomberg Intelligence told The Japan Times that a “vague sense of unease about the overall market direction” combined with the surprise loss at Laser Digital to “set off selling” of Nomura shares. The broader market sentiment appears to be cautious, with investors weighing the firm’s diversified earnings against the heightened risk in its crypto arm.
Additional financial moves
The decline in net income was also influenced by a $1.8 bn purchase of Macquarie Group’s U.S. and European public‑asset‑management business and a series of stock‑buy‑back activities. These capital‑intensive actions offset some of the revenue erosion but highlighted the firm’s willingness to invest in traditional asset‑management capabilities.
Takeaways
- Risk reduction – Nomura will actively lower its exposure to European crypto‑related assets, focusing on tighter risk controls at Laser Digital.
- Long‑term crypto commitment – The firm still plans to expand its Swiss subsidiary, signalling confidence in digital assets over a longer horizon.
- Profit pressure – Overseas earnings fell 70 % YoY, dragging overall net income down nearly 10 %. The decline reflects both market headwinds and sizable strategic acquisitions.
- Share impact – The earnings announcement triggered a roughly 7 % drop in Nomura’s Tokyo‑listed shares, mirroring broader investor concerns about crypto volatility.
- Market sentiment – Analysts cite a blend of macro‑economic uncertainty and crypto‑specific shocks as the catalyst for the recent sell‑off.
Nomura’s recalibration illustrates how traditional financial institutions are navigating the volatile crypto landscape: tightening exposure in the short term while keeping an eye on longer‑term opportunities. The firm’s next quarterly report will reveal whether the risk‑management measures and strategic expansions can offset the current profit slump.
Source: https://cointelegraph.com/news/nomura-temporarily-reducing-crypto-risk-exposure-after-q4-profit-drop?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
