Nomura, the largest securities house in Japan, reported a fourfold surge in asset management pre-tax income to ¥6.4bn (€47m) for the nine months to December 31 while net income across the group fell by almost half to ¥69.1bn.

Non-interest expenses also fell 1% over the same period, resulting in asset management income before taxes of ¥6.4bn against ¥148m in the same period last year.