Nomura $274 million in the hole – Europe happens.

Japan’s top brokerage Nomura said Wednesday its operations in debt-hit Europe lost 20.94 billion yen ($275 million) in the quarter to December.

Despite global market turbulence, the group still reported an overall quarterly net profit of 17.82 billion yen, up 33 percent from 13.39 billion yen a year earlier.

The improvement was partly due to a one-time gain from the sale of its stake in restaurant chain Skylark Co, Nomura said.

Read the rest of the story: Japan’s Nomura loses $274 million in Europe.

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