NMR - Nomura Holdings, Inc.
| Previous close | 5.18 |
| Open | 5.09 |
| Bid | 5.06 x 1400 |
| Ask | 5.15 x 1000 |
| Day's range | 5.03 - 5.13 |
| 52-week range | 3.05 - 5.25 |
| Volume | 114,887 |
| Avg. volume | 146,873 |
| Market cap | 16B |
| Beta (5Y Monthly) | 1.49 |
| PE ratio (TTM) | 18.44 |
| EPS (TTM) | 0.28 |
| Earnings date | N/A |
| Forward dividend & yield | 0.27 (5.29%) |
| Ex-dividend date | 2019-09-27 |
| 1y target est | 4.65 |
- Bloomberg
Nomura’s Brokerage Venture With Line Seeks to Expand User Base
Sep.18 -- Yoshikazu Yonenaga and Noritaka Ochiai, co-chief executive officers of Line Securities Corp., Nomura Holdings Inc.’s new online brokerage venture with mobile messaging provider Line, talk about the prospects and strategy for the business.
- Bloomberg
Nomura Buys Boutique Investment Bank in Bet on Greener Deals
(Bloomberg) -- Nomura Holdings Inc. agreed to buy boutique investment bank Greentech Capital Advisors, a rare overseas acquisition for Japan’s biggest brokerage as it seeks to boost its U.S. presence.Founded in 2009 by Jeff McDermott, previously a co-head of investment banking at UBS Group AG, Greentech specializes in sustainable investing. It has helped Macquarie Group Ltd., Goldman Sachs Group Inc. and others buy and sell wind and solar farms. The transaction is scheduled to close March 31, according to a statement Wednesday that didn’t disclose terms.More than 70 people in New York, San Francisco and Zurich will be joining the firm in a new team called Nomura Greentech. The plan is to expand the team further as McDermott sees a “massive growth build-out” in low carbon and alternative energy infrastructure in Asia, he said in a telephone interview.Nomura has been quiet on overseas acquisitions since it bought bankrupt Lehman Brothers Holdings Inc.’s European and Asian assets in 2008, a deal that swelled costs and led to a writedown. The Tokyo-based firm unveiled plans earlier this year to boost its advisory business for companies in markets including the U.S., while cutting expenses in areas such as securities trading.“We are looking to grow our global investment bank, we’re looking to grow our presence in the Americas, and we’re looking to grow our advisory business,” Michael Rintoul, head of investment banking at Nomura Americas, said by phone. The two dealmakers previously worked together at UBS. “With this transaction we accomplish all of those objectives.”The deal brings Nomura sustainable investing expertise as incoming Chief Executive Officer Kentaro Okuda seeks to accelerate growth in the U.S. and China to offset a slump in Japan. The lender also plans to form a sustainability research center to help clients address risks related to climate change.“It seems to make sense thematically,” said Michael Makdad, an analyst at Morningstar Inc. in Tokyo. “Nomura continues to see U.S. investment banking as necessary for its future growth,” and many Japanese companies are investing in renewable energy assets abroad, he said.Shares of Nomura fell 1.5% in Tokyo on Thursday morning, paring this year’s gain to 31%. Nomura has rallied in recent months on signs of a rebound in its global wholesale business after current CEO Koji Nagai began his $1 billion cost-cutting initiative.Daiwa Securities Group Inc. is also bolstering its advisory business in the environmental sector. Japan’s second-biggest brokerage entered a joint-venture agreement with renewable energy adviser Green Giraffe in October.(Updates with comment from analyst in the seventh paragraph)\--With assistance from Takashi Nakamichi.To contact the reporters on this story: Christopher Martin in New York at cmartin11@bloomberg.net;Sonali Basak in New York at sbasak7@bloomberg.netTo contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Dan Reichl, Russell WardFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Bloomberg
Nomura’s Next CEO Vows Urgency for Brokerage’s Overhaul
(Bloomberg) -- Nomura Holdings Inc. named Kentaro Okuda as its new chief executive officer, turning to a 32-year company veteran to help cement a sweeping overhaul of its global operations and reverse a slump at home.Co-Chief Operating Officer Okuda, 56, will replace Koji Nagai on April 1, the Tokyo-based company said in a statement on Monday. Nagai, 60, who has been in charge for more than seven years, will become chairman.To arrest a decline in Nomura’s wholesale business, Okuda executed Nagai’s $1 billion cost-cutting plan which returned to profitability overseas operations that have struggled since the purchase of Lehman Brothers Holdings Inc.’s Asian and European assets in 2008. The new leader now has to revive retail operations at home, where revenues have been pressured by an aging population, the rise of online competitors, and a stubborn propensity for people to save rather than invest.“The sense of urgency is even stronger now than when Nagai became CEO,” Okuda said at a briefing in Tokyo after the announcement. “Speeding up the decision-making process is how I can make my mark going forward.”Nagai announced his departure eight months after unveiling his third major cost-cutting exercise, having somewhat repaired his reputation following an information leak and a selloff that pushed the brokerage’s valuations toward an all-time low. He said his successor is well suited to the job given his ability to communicate with clients and his international background.“Certainly Okuda should have a better feel for the environment in New York” given his overseas experience, said Michael Makdad, an analyst at Morningstar Inc. in Tokyo. At the same time, he will need to ensure that he doesn’t take the domestic retail franchise for granted, Makdad added.Shares of Nomura rose 0.4% on Tuesday morning in Tokyo, while the benchmark Topix index fell 1%. The stock has climbed 70% from this year’s low in June, and is trading at the highest since June last year.Okuda joined Nomura in 1987 in the middle of Japan’s economic bubble. After earning a master’s degree in business administration in 1990 from the University of Pennsylvania’s prestigious Wharton School, he rose through the ranks, mainly in wholesale business.He became co-chief operating officer in April last year, and was head of the Americas from 2017 to 2019. He was formerly global head of investment banking, during which time he hired bankers in the U.S., a key business target for Nomura outside of Japan.Read a Bloomberg Opinion column on Nomura’s leadership changeNagai’s decision to step aside wasn’t a surprise, given that he is the longest-serving CEO at Nomura in more than 40 years, though the timing was unexpected. The firm usually announces management changes closer to the start of its fiscal year in April.Nagai spent most of his time in charge wrestling with losses abroad that prompted the cost cutting. In the briefing, he said the time was right to hand over the reins given progress made on his latest restructuring efforts, which also involved the closure of some retail branches.Revenue from the wholesale division, which serves global institutional clients, has recovered so far this fiscal year. More than 60% of the cost-reduction plan has been completed, Okuda said at the briefing.Still, he said it may be difficult to achieve a target of achieving earnings of 100 yen per share in the year ending March. Nagai will update clients and investors on the company’s direction at a forum in Tokyo later Tuesday.“We are paying close attention to how the new leadership will act to achieve its goals,” including a plan to boost wholesale revenue by as much as $400 million annually, said Toshihiro Matsuo, an analyst at S&P Global Ratings in Tokyo. “Under the current business environment, expanding revenue can be a challenge.”Nagai replaced Kenichi Watanabe in 2012 in the wake of an insider-trading scandal at the brokerage. Watanabe had overseen the firm’s ill-fated acquisition of Lehman businesses when the Wall Street firm collapsed during the global financial crisis.Now Nagai is set to depart on a high, months after being narrowly reappointed to the board following a fresh information leak that led to regulatory penalties. Profit climbed to the highest in 17 years in the most recent quarter, as growth in revenue from trading and investment banking made up for continued weakness in the retail business.Okuda is known for his leadership and ability to get along with a wide range of people, said Hironari Nozaki, a professor at Toyo University who went to the same schools as him from elementary level to university.“He was a leader for his class, and he was on good terms with everyone,” Nozaki said. “I think that’s his true value.”(Updates with shares in the seventh paragraph)\--With assistance from Takahiko Hyuga.To contact the reporters on this story: Takashi Nakamichi in Tokyo at tnakamichi1@bloomberg.net;Takako Taniguchi in Tokyo at ttaniguchi4@bloomberg.netTo contact the editors responsible for this story: Marcus Wright at mwright115@bloomberg.net, Russell WardFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
Japan's Nomura picks operations chief as new CEO to lead turnaround
Nomura has picked joint operations chief Kentaro Okuda to lead a turnaround of Japan's biggest brokerage and investment bank, taking over from chief executive Koji Nagai, who will become chairman. The reshuffle was announced on Monday as Nomura posted its strongest quarterly profit in more than 17 years. With years of experience in investment banking, Okuda, 56, has also worked overseas, including as head of Nomura's U.S. arm.
- Reuters - UK Focus
UPDATE 3-Japan's Nomura picks operations chief as new CEO to lead turnaround
Nomura has picked joint operations chief Kentaro Okuda to lead a turnaround of Japan's biggest brokerage and investment bank, taking over from chief executive Koji Nagai, who will become chairman. The reshuffle was announced on Monday as Nomura posted its strongest quarterly profit in more than 17 years.
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HSBC, Royal Bank of Scotland Plan to Enhance Digital Banking
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Goldman Plans to Provide Outlook for Metrics in January
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- Reuters
Italian court convicts Deutsche Bank, Nomura in Monte Paschi derivative trial
An Italian court has convicted 13 former bankers from Deutsche Bank, Nomura and Monte dei Paschi di Siena over derivative deals that prosecutors say helped the Tuscan bank hide losses in one of the country's biggest financial scandals. Monte dei Paschi reached a settlement with the court over the case in 2016 at a cost of 10.6 million euros.
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HSBC Gets Warning From Bank of England Over Conduct Issues
HSBC receives second warning by the Bank of England for not being able to properly control non-financial risks.
- Yahoo Finance UK
The OUTstanding Top 50 LGBT+ Ally Executives
All of the allies — who must be senior executives who are not LGBT+ but support LGBT+ inclusion — were nominated by peers and colleagues, or put themselves forward.
- Reuters
Japan's Nomura logs 17-year quarterly profit peak on stake sale and trading
Japan's Nomura Holdings posted its strongest quarterly profit in more than 17 years, lifted by the sale of a stake in an affiliate as well as trading gains and improved performance at its wholesale division. Nomura, the country's biggest brokerage and investment bank, has been in heavy cost-cutting mode after a bleak performance at its wholesale business led to the company's first annual loss in a decade last year. Pretax income for the wholesale business, which serves corporations and institutional investors, has since rebounded sharply.
- Yahoo Finance UK
UBS warns 'low and negative interest rates' hitting business
UBS reported a fall in third-quarter income and pre-tax profit on Tuesday.
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HSBC to Reduce 10,000 Jobs in Europe Amid Cost-Saving Drive
HSBC initiates another round of cost-cutting, leading to the reduction of 10,000 jobs in Europe, under the new interim CEO, Noel Quinn.
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BlackRock Eyes Partnership With Tencent to Expand in China
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Goldman (GS) to Buy Majority Stake in China Joint Venture
Goldman (GS) might acquire a majority stake of 51% holding in its Chinese investment banking joint venture, Goldman Sachs Gao Hua Securities Co.
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HSBC Plans to Bid for Aviva Asia Business, Seeks to Diversify
HSBC is in the early stage of weighing an offer for the Asia operations of Aviva.
