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Japanese banking giant Nomura Holdings will reduce risk exposure at Laser Digital, its European crypto subsidiary, after the unit recorded losses of 10.6 billion yen ($68.5 million) during Q3 amid October’s sharp market downturn.
Despite the pullback, executives said the bank’s long-term commitment to digital assets remains unchanged.
Nomura Chief Financial Officer Hiroyuki Moriuchi said the firm plans to reduce risk exposure at Laser Digital Holdings, its Europe-based digital asset subsidiary, after it posted quarterly losses. Bloomberg Japan first reported the comments on Friday.
Moriuchi said the crypto market downturn significantly affected the subsidiary’s performance and that Nomura would prioritize balance sheet stability in the coming months.
“While its subsidiary took a hit amid the crypto market turbulence, the firm will manage its stability through stringent position management over the next few months,” — Hiroyuki Moriuchi, CFO, Nomura Holdings, quoted by Bloomberg Japan.
Despite the pullback, Moriuchi stressed that the bank’s broader commitment to digital assets remains intact, signaling that Nomura crypto holdings could expand again once market conditions improve.
He added that the company continues to view its Switzerland-based operations as a long-term growth platform.
“He added that its commitment to crypto remains unchanged and that Nomura is eyeing expansion in the medium to long-term future,” — Hiroyuki Moriuchi, CFO, Nomura Holdings, via Bloomberg Japan.
The remarks underscore Nomura’s effort to balance near-term risk management with longer-term ambitions in tokenization, trading, and digital asset infrastructure.
The adjustment to Nomura crypto holdings comes against the backdrop of one of the sharpest crypto market drawdowns of the year.
Nomura’s third quarter began just before a major market crash in October that sent Bitcoin tumbling from a peak near $126,000 on Oct. 6 to around $88,000 by the end of December, according to CoinGecko data.
That volatility weighed heavily on Nomura’s overseas operations. In its earnings report, the bank said its European crypto and non-crypto ventures generated a combined loss of 10.6 billion yen ($68.47 million) during the quarter.
While Nomura still posted profits from international operations, overseas earnings fell sharply.
Total overseas profit came in at 16.3 billion yen ($105.29 million), representing a 70% decline from the same period a year earlier.
Overall net income dropped to 91.6 billion yen ($590 million), down 9.7% year-on-year.
Nomura attributed part of the decline to one-off factors, including its $1.8 billion acquisition of Macquarie Group’s US and European public asset management business and expenses tied to an ongoing stock buyback program.
Still, the impact of volatile markets on Nomura crypto holdings added to investor caution.
Investors reacted swiftly to the earnings announcement. Nomura shares fell about 6.8% on the Tokyo Stock Exchange on Monday as markets digested the weaker overseas performance and the news around Nomura crypto holdings.
Hideyasu Ban, a senior analyst at Bloomberg Intelligence, said the sell-off reflected broader uncertainty rather than crypto exposure alone.
“There is a vague sense of unease about the overall market direction, and that seems to have combined with the surprise on the crypto front to set off selling,” — Hideyasu Ban, Senior Analyst, Bloomberg Intelligence, told The Japan Times.
The reaction highlights how closely traditional finance investors are now watching banks’ digital asset strategies.
While Nomura has positioned itself as one of the more crypto-forward Japanese financial institutions, any volatility linked to Nomura crypto holdings can still amplify market sensitivity around earnings.
Looking ahead, analysts say Nomura’s approach mirrors a broader trend among global banks: short-term de-risking paired with long-term strategic interest.
Rather than exiting digital assets entirely, institutions are tightening exposure, refining risk controls, and waiting for clearer market signals.
For crypto investors, the episode underscores that institutional adoption is not a straight line.
Adjustments to Nomura crypto holdings illustrate how legacy banks remain cautious during downturns, even as they continue to invest in infrastructure and future growth.
As crypto markets stabilize, attention will turn to whether Nomura re-expands its digital asset positions later in 2026, potentially signaling renewed institutional confidence after one of the sector’s most volatile periods.
