Nomura’s fees from dealmaking surged by 30% in the last quarter as revenue from its home market and Europe helped it to its best three-month period in seven years, but the Japanese bank is still kicking off a fresh round of layoffs.

The bank brought in ¥45.4bn ($310m) from investment banking in the fiscal third quarter, it reported on 31 January, which is up by a third on the same period a year earlier. Nomura has made ¥149.6bn ($1bn) over the past nine months from dealmaking, which is an increase of 32% compared with the same period in 2022.