Nomura on Friday unveiled its worst set of annual results ever, reporting a Y709.4bn ($7.3bn) net loss in the year to March 2009 as global market turmoil, asset writedowns and the costs of its Lehman Brothers acquisition took their toll on Japan’s biggest broker.

The huge loss at Nomura – which acquired the Asian, Middle Eastern and European businesses of Lehman after it failed last year – was significantly larger than market estimates, reflecting a deficit of more than Y217bn in the fourth quarter. Investors had expected annual losses of Y609.6bn, according to a survey by Thomson Reuters.