Japan’s Nomura Scales Back On Crypto After Third Quarter Earnings Decline

TLDR

Table of Contents

Nomura’s Q3 profit fell to ¥91.6B, missing the expected ¥95.1B.
Losses came from its Swiss-based crypto subsidiary, Laser Digital.
Bitcoin fell over 30% from its peak in October through December 2025.
Nomura plans a ¥600B share buyback to support shareholder value.

Japan-based Nomura Holdings is reducing its digital asset positions following a weaker-than-expected third quarter. The company reported that its crypto unit, Laser Digital Holdings, experienced losses tied to market volatility, which led to earnings fluctuations and impacted overall profit.

According to DLNews, Nomura, Japan's largest wealth management company (with approximately JPY 153 trillion in client assets), stated that after its subsidiary Laser Digital incurred losses in the third quarter, the company reduced its crypto positions and risk exposure; its…

— Wu Blockchain (@WuBlockchain) February 2, 2026

Nomura’s consolidated net profit for the third quarter came in at ¥91.6 billion ($591.6 million). This was below the analyst forecast of ¥95.1 billion ($614 million). While the company maintained strong performance in core operations, the crypto-related losses contributed to the shortfall

Laser Digital Losses Amid Volatile Crypto Market

Laser Digital Holdings, Nomura’s crypto trading subsidiary based in Switzerland, recorded losses during the quarter ending in December 2025. These losses were linked to declining crypto asset prices following a brief rally in October.

Bitcoin prices surged to all-time highs in October but dropped over 30% in the following months. As of early February, bitcoin was trading below $75,500, marking its lowest level since 2024. The ongoing volatility led Nomura to revise its risk management approach.

During a January 30 earnings briefing, Nomura CFO Hiroyuki Moriuchi said the firm has applied stricter position management. This is aimed at reducing exposure to the crypto market and limiting its effect on earnings.

Long-Term Crypto Interest Remains Despite Setbacks

Despite the third-quarter losses, Nomura stated it remains committed to the digital asset sector. The company described the space as one with long-term growth potential.

Bloomberg reported that Nomura will continue to operate in the digital asset market, even as it adjusts near-term exposure. Laser Digital is expected to remain a part of the company’s broader digital strategy.

Nomura had launched Laser Digital to grow its presence in digital assets and blockchain-related financial products. The recent move reflects a reassessment of short-term risk, rather than a withdrawal from the sector.

Share Buyback Announced Amid Stock Drop

Nomura’s stock opened lower on February 2 and fell as much as 6.7% during trading hours on the Tokyo Stock Exchange. The decline came shortly after the company released its Q3 results and news of its reduced crypto positions.

In response, Nomura announced a share buyback program valued at up to ¥600 billion ($38.7 billion). This buyback represents approximately 3.2% of the company’s outstanding shares. The firm said the buyback aims to support shareholder returns and stabilize stock value.

The combination of earnings review, adjusted digital asset strategy, and a new buyback program shows Nomura’s current focus on risk control and shareholder trust.

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