... and books $678m in monoline exposures

News

Nomura Group booked a net loss of 67.8 billion yen ($678 million) for the financial year ended March 2008, largely due to losses at its securities arm related to US subprime mortgage loans and falling stock prices.

The loss marks a sharp reversal from last year's results, when it reported profits of Yen176 billion. Nomura had set aside Yen132 billion in the final quarter of the year (January to March 2008) due to the rating downgrade of the US monoline, which had guaranteed the credit structures

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