Japan’s Nomura posts Q2 net profit of $1.3 bln, third straight quarterly profit

TOKYO, Oct 29 (Reuters) – Nomura Holdings posted on Tuesday a second-quarter net profit of 138.6 billion yen ($1.27 billion), compared with a net loss in the same period a year ago.

It marks a third straight quarter of profit.

Japan’s biggest brokerage and investment bank announced a plan in April to cut more than $1 billion in costs from its wholesale business and shut some of its domestic retail branches. ($1 = 108.9700 yen) (Reporting by Takashi Umekawa; Editing by Edwina Gibbs)