Nomura says it could lose $ 302 mn in Madoff scandal

TOKYO: Japan's top broker Nomura said on Monday it faced losses of up to 27.5 billion yen (302 million dollars) due to the scandal surrounding New York investment manager Bernard Madoff.

"Nomura Holdings has confirmed that its Madoff-related exposure is worth 27.5 billion yen," the group said in a statement.

"The impact of the exposure is relatively limited in the light of our accounting capital," it said.

Madoff is alleged to have lost up to 50 billion dollars through a pyramid trading scheme which collapsed because of the financial crisis.