Nomura Holdings has reduced its cryptocurrency exposure after its digital asset business recorded losses in the third quarter ended December 31, 2025. The Japanese firm reported a ¥10.3 billion loss in digital asset-related operations during that period.
The losses stemmed from market volatility. They affected the Europe region, where Nomura’s crypto subsidiary Laser Digital is based.
Net income for the quarter reached ¥91.6 billion. That marked a 10 percent decline from the previous year.
Digital Asset Losses Pressure Results
The digital asset setback appeared in Nomura’s Other segment. Weaker market conditions drove the ¥10.3 billion loss, according to the earnings presentation.
Europe posted negative income before taxes for the nine-month period. Reports tied this directly to volatility at Laser Digital, a Swiss-based unit focused on crypto trading and asset management.
Chief Financial Officer Hiroyuki Moriuchi addressed the issue during the January 30 earnings briefing. “We have tightened our management of positions, as well as risk exposure,” he said, according to reports.
The goal is to curb short-term volatility in profit. Nomura described the step as a risk management adjustment, not a full withdrawal from crypto.
Core Business Shows Resilience
Overall net revenue rose 10 percent year over year to ¥551.8 billion. Wealth management and investment management segments posted strong gains.
Nomura announced a share buyback program of up to ¥600 billion. The move aims to support shareholder returns despite the quarterly challenges.
Shares opened lower on February 2. They fell as much as 6.7 percent in Tokyo trading, according to market reports.
U.S. Expansion Plans Move Forward
Nomura remains committed to digital assets over the medium to long term. On January 27, 2026, Laser Digital applied to the U.S. Office of the Comptroller of the Currency for a national trust bank charter.
If approved, the new entity would offer custody of digital assets. It would also provide integrated spot trading of crypto and fiat currencies, plus staking for eligible assets.
Steve Ashley, chairman and co-founder of Laser Digital, called the application a natural step. It reflects the firm’s global ambitions in institutional digital asset markets.
The proposed bank would operate under federal supervision. It would focus on institutional clients without retail deposit services.
What Lies Ahead
The OCC will review Laser Digital’s application in the coming months. Approval timelines vary, but the process could extend through 2026.
Nomura continues to monitor crypto market conditions. Further risk adjustments may follow if volatility persists.
The firm views digital assets as a growth area. It plans to expand operations once conditions stabilize.
Disclaimer
This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
