Nomura Reduces Crypto Risk Exposure After European Losses

Nomura Holdings Inc. tightened risk controls in its cryptocurrency business after the company’s European operations swung to losses partly due to a setback in the digital-asset market, an executive said.

“We have tightened our management of positions as well as risk exposure” to curb short-term volatility in profit, Chief Financial Officer Hiroyuki Moriuchi said on a conference call Friday to review quarterly results. Japan’s largest brokerage has reduced its positions in virtual currencies, though it remains committed to the crypto business over the long term, he said.

Nomura posted a slightly larger-than-expected decline in net income as a loss in ...