Nomura Holdings Inc , Japan's largest brokerage, posted its fourth consecutive quarterly net loss on Tuesday, as the cost of buying some of Lehman Brothers' operations eroded earnings.

Nomura, which bought the Asian and European operations of failed U.S. investment bank Lehman Brothers to fuel its global expansion, posted a 342.9 billion yen ($3.8 billion) net loss for October-December, versus a 21.8 billion yen profit a year earlier.


The loss was bigger than an average forecast for a 211 billion yen loss from three analysts surveyed by Reuters Estimates.


Shares in Nomura fell 45 percent in October-December, underperforming the benchmark Nikkei 225 .N225, which fell 21 percent. ($1=89.64 Yen) (Reporting by Junko Fujita)

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