Nomura's US wholesale business has delivered its best set of quarterly results on record, generating more revenues than any other region for the first time, in a set of figures which included a 77% fall in investment banking revenues quarter-on-quarter as the Japanese earthquake took its toll.

The wholesale business at Nomura reported net revenues of ¥141.2bn, or $1.8bn, for the three months to June 30, down 24% on the prior quarter. The pre-tax loss was ¥14.9bn, or $192m.