Earnings News

Nomura Holdings reported first quarter loss of 154 billion yen compared to a profit of 33 billion yen from a year ago. The largest brokerage firm in Japan set aside $1.5 billion to cover bond insurance losses. Nomura fell 12% and dragged Daiwa Securities 9% as well. Quarterly trading revenue declined 80%. For the year 2007 Nomura reported a loss of 68 billion yen compared to a gain of 176 billion yen in 2006.

Honda reported revenue declined 1% in the second quarter to 3.06 trillion yen for the quarter ended in March. Earnings fell 86% to 25.4 billion yen from 176.2 billion yen and earnings per share declined to 14.01 yen from 96.70 yen a year ago.

Honda earnings plunged after the company set aside 80 billion yen to cover tax investigation involving income from its operations in China.

NTT DoCoMo after it forecasted smaller than expected rise in earnings for the current fiscal year. Earnings in the fiscal year are expected to rise 2% 503 billion yen compared to 491.2 billion yen. The current promotion running since November of 2007 is expected to lower revenue per subscriber and the company battles competition from KDDI and Softbank.

NTT DoCoMo for the year ended 2007 net income gained 7.4% to 491.2 billion yen and sales declined 1.6% to 4.71 trillion yen.