Nomura Holdings, Japan’s largest investment banking and securities group, has decided to implement strict position management to de-risk its European cryptocurrency subsidiary Laser Digital Holdings.
Hiroyuki Moriuchi, head of the bank’s finance department, explained at a financial results conference held last Friday that the subsidiary had posted a loss due to market fluctuations.
Based on this premise, Moriuchi detailed that the company has strengthened position management, resulting in a gradual allocation of capital to the digital asset sector.
This move to reduce exposure to the Bitcoin (BTC) ecosystem is due to the volatility the market has experienced in recent months. BTC price reached an all-time high of $126,000 in early October 2025. After reaching this price, the currency crashed in the market and currently stands at $75,000. This number represents a 38% decrease from the peak..
Such fluctuations affected Japanese companies’ balance sheets, with consolidated net income for the third quarter announced on January 30 of 91.6 billion yen ($591 million), below the average estimate of 95.1 billion yen ($614 million).
Impact on stock market valuations of Japanese giants
Despite recent adjustments, the company’s investment infrastructure remains operational for institutional clients. Nomura is Bitcoin Adoption FundAdoption Fund published September 2023. The product, managed by subsidiary Laser Digital, is designed to provide professional investors with a direct and secure route of access to digital assets.
The impact of Bitcoin fluctuations on these services and quarterly results was also reflected in the company’s performance in the stock market.
Nomura Holdings’ stock price has taken a hit in recent weeks. It fell from $9.5 on January 15th to $8.42 on February 2nd. This represents an 11.3% decline in the company’s stock price.
Either way, the financial institution, which was founded in 1925 and provides investment advice, portfolio management and savings products for retail clients, remains optimistic about digital assets. The CFO emphasized that despite the reduction in exposure: Nomura’s commitment to crypto asset-related businesses will remain unchanged..
Similarly, Mr. Moriuchi emphasized that the company plans to continue expanding its business over the medium to long term, given that the company’s earning power is improving gradually.
Regulatory perspective and ETFs
The company’s interest in digital assets is also expected to be directed towards new financial products in the local market. Japan will move forward with preparations to approve ETFs for crypto assets such as Bitcoin within two years, aiming for 2028.
Japan’s Financial Services Agency plans to add virtual currencies to the list of specified assets in ETFs. This will allow financial institutions like Nomura to offer regulated products to a broader investor base.as reported by CriptoNoticias.
The initiative by Japanese regulators aims to redefine the classification of digital assets under the Financial Instruments and Exchange Act, which could reduce the current tax burden. As these legal changes take shape, Nomura subsidiary Laser Digital continues its international expansion plans, including applying for a federal banking license in the United States.
