Nomura explores sale of digital arm as US depositary receipts rise 2.3%
Key Facts
Nomura is exploring a sale of its digital assets arm, Laser Digital Holdings AG, according to a Bloomberg report cited by Investing.com on November 11, 2026. The report said the company had begun talks with potential buyers, including Marex Group. The discussions remain preliminary, and no sale of the unit has been decided. Nomura may retain it or continue seeking another buyer. The possibility puts the future of its digital business under review, as the company has previously announced steps to reduce position risks while continuing to expand the business.
Investing.com said sharp swings in cryptocurrency markets generated losses that pushed Nomura’s broader European operations into a quarterly deficit in the previous year. In its third-quarter results for fiscal 2025/26, Nomura said its “Other” segment posted a loss due to deteriorating market conditions in its digital assets business. Group net revenue in that quarter was 551.8 billion yen, up 7% quarter on quarter. These figures show that the digital business’s loss came during a period when the group’s revenue overall increased. In the following quarter, the company said the crypto-asset market fell by roughly the same amount as in the third quarter, but the impact on consolidated results remained limited thanks to its existing risk management framework.
At an earnings conference held on January 30, 2026, Chief Financial Officer Hiroyuki Moriuchi said Laser Digital would reduce position risks to limit short-term volatility while continuing to expand the business over the medium to long term. Nomura also said it had lowered the absolute level of risk in its market-making activities. It said it continued to hold some long positions, including venture capital and seed investments. This approach combines reduced risk exposure in market-making with the retention of investments linked to the sector’s growth. The company said it would “reduce risk exposure in our positions and seek to expand the business over the medium to long term.”
Laser Digital’s businesses include market-making for institutional investors, crypto-asset fund management, and seed and venture capital investments related to these activities. Nomura said the company holds part of its inventory while providing services to clients. Laser Digital Japan describes the group’s activities as including over-the-counter trading for institutions, asset management, structured finance solutions and early-stage venture capital. Laser Digital was established in Switzerland in 2022, according to its parent company, to deliver new value to clients in digital assets. Nomura said when announcing its establishment that Switzerland was chosen for its established regulatory framework for digital assets and blockchain projects, and the availability of talent.
Marex is among the potential parties in the talks as it expands its digital-asset offerings. On October 1, 2026, Marex announced the launch of a rolling spot over-the-counter cryptocurrency trading product for institutional clients. It said the product allows clients to gain long or short exposure to cryptocurrency markets through a cash-settled over-the-counter derivative. On October 12, Marex announced the launch of an institutional quantitative investment strategies offering. It said the offering expands its capabilities for institutional investors and the company’s investors across digital assets, commodities, equities and their risk premia. Marex’s expansion does not change the fact that talks over Laser Digital are preliminary, according to the report.
In trading, Nomura’s US depositary receipts rose 2.3% on Wednesday, November 11, following the Bloomberg report on a potential sale, according to Investing.com. EL7 data, meanwhile, confirms Nomura receipts closed at $9.51 on November 10. Verified prices for the November 10 session open, high or low are not available from an open, reliable source. The percentage gain cited in the report refers to Wednesday’s session after the news was published, while the confirmed closing price is from the previous day. The next step remains dependent on the outcome of the preliminary discussions and Nomura’s choice between retaining the unit or continuing to seek a buyer.