Nomura has reported a rebound in sales and trading on the previous quarter but continues to lose money in its advisory and underwriting business, standing in direct contrast to many of its peers.

The Japanese bank's investment banking division, which includes M&A, equity capital markets and debt capital markets, reported a loss of ¥13.5bn ($167m) in the second quarter of its financial year. This compared to a ¥14.8bn loss in the previous quarter and an ¥8.5bn loss in the same period last year. It made a profit in the third and fourth quarters.