Nomura holdings's annual net profit climbed 5% to a nine-year high, beating expectations, on a strong performance by its asset management and investment banking divisions, although its overseas operations were in the red for the fifth year in a row. A buoyant Japanese stock market has helped funds flow into its asset management business, with pretax profits for that division up 18%. The bank also benefited from fees made on several large M&A deals and international investment banking revenues were at their strongest in six years.
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