TOKYO, Dec 15 – Nomura Holdings, Japan’s biggest brokerage, said on Monday it had a Y27.5bn ($303m) exposure related to Wall Street trader Bernard Madoff, but the impact on its capital would be limited.

Mr Madoff, a former chairman of the Nasdaq stock market, was arrested in New York on Thursday and charged with orchestrating a huge financial fraud through an investment-advisory arm of market-making firm Bernard L. Madoff Investment Securities LLC.