Nomura Securities Co.

Nomura Securities Co. head office building

Nomura Securities Co., Ltd. (野村證券株式会社 Nomura Shōken Kabushiki-gaisha?, NSC) is a wholly owned subsidiary of Nomura Holdings, Inc. (NHI), which forms part of the Nomura Group. It plays a central role in the securities business, the Group's core business. Nomura is a financial services group and global investment bank. Based in Tokyo and with regional headquarters in Hong Kong, London, and New York, Nomura employs about 26,000 staff worldwide. It operates through five business divisions: retail (in Japan), global markets, investment banking, merchant banking, and asset management. Boasting the largest shares in all business divisions within the Japanese market and uncompelled as the top leading securities firm in Japan, the company is nicknamed "Gulliver".

Established December 25, 1925 in Osaka, it is the oldest brokerage firm in Japan. It is named after its founder Tokushichi Nomura II, a wealthy Japanese stockbroking tycoon.

Nomura Securities operates in Asia. In the USA it is known as Nomura Securities International and in EMEA it is Nomura International plc.

Contents

Background

Nomura provides a range of services through the capital markets including equities and fixed income trading, brokerage, underwriting, offering, secondary offering and private placement of securities. The investment banking arm provides corporate and leveraged financing.

Nomura previously made most of its profits in the Japanese retail banking market, but has expanded its international investment banking capabilities. Instinet Incorporated was acquired in February 2007.

In October 2008, Nomura acquired Lehman Brothers' business in the Asia Pacific region including Japan, Hong Kong and Australia;[1] together with Lehman Brothers investment banking and equities business in Europe[2] and the Middle East[3] and hired a number of people from Lehman's fixed-income business. In 2007, Lehman international businesses were responsible for half of the bank's total revenue.[4] The acquisition made Nomura the world's largest independent investment bank with Y20,300bn (£138bn) assets under management according to the Financial Times. According to Bloomberg, in the wake of the financial crisis, Nomura did not take any government bail-out money [5]

In a bid to move the company's focus from Japan to global markets, the global headquarters for investment banking was moved out of Tokyo to London in April 2009 as part of a stated aim by Hiromi Yamaji, Nomura’s chief executive of global investment banking to move the company's focus from Japan to global markets.

On July 27, 2009, the Federal Reserve Bank of New York designated Nomura a primary dealer for Federal Reserve System open market operations and U.S. Treasury securities auctions.[6] .[7] Nomura operates across 18 exchanges globally and holds a number of primary dealerships. Nomura has been number one on the London Stock Exchange since the summer of 2007.

Tricorn Partners LLP was acquired on December 16, 2009 to further expand its investment banking business.[8]

Operations

Nomura divides its operations up into three regional areas, America, Asia-Pacific and Europe, Middle East & Africa (EMEA). The American operations are predominantly focused on offices in the New York and New Jersey areas with additional offices in Toronto, Canada and Bermuda,[9] employing 1,300 staff in the US;[10] investment banking in the US is headed up by Glenn Schiffman.[11] There are 32 offices across the Asia Pacific region headquarters are located in Hong Kong, including Australia, China, Hong Kong, Japan, Malaysia, Singapore and Taiwan.[12] EMEA employs 4,500 people in 18 countries,[13] the chairman is Colin Marshall and the CEO is John Phizackerly. In December 2009 Reuters reported that Nomura had raised $7 billion of extra funding through issuing additional shares.[14]

Nomura's four business lines (global markets, investment banking, merchant banking and asset management) are coordinated globally but each European operating entity is incorporated and regulated separately and reports to local management as well as Tokyo-based business leads

History

Nomura was founded by Tokushichi Nomura, father of Nomura Securities founder Tokushichi Nomura II as a money changing business.[15] This was just before the Meiji Restoration, the move to setting up a bank was a logical extension and progression of this business as times changed. Changes included the founding of stock exchanges in Tokyo and Osaka as the country became industrialised. Key amongst these changes was the Japanese government's decision to issue foreign currency denominated public bonds to fund the Russo-Japanese war; Nomura employed English speaking staff so that they could take on this international business.

By 1906 Nomura had founded an in-house research department headed up by former Osaka newspaper journalist Kisaku Hashimoto.[16] This was responsible for publishing the Osaka Nomura Business News with trading news, stock analysis and current economic trends. Research combined with a substantial newspaper advertising campaign helped raise the profile of Nomura. By 1917 Nomura had gone public and soon after Osaka Nomura Bank (now Daiwa Bank) was set up, within this business there was a securities section to handle bond sales and underwriting.[17] As the securities business grew, the company planned to run it as a in 1922. Building work started on a new office and the business was incorporated at the end of 1925.

By 1927, Nomura had opened a New York office, however it wasn't until 1981 that the company became a member of the New York Stock Exchange, followed five years later by its membership of the London Stock Exchange.[18]

Presidents
  From To
Otogo Kataoka 1 December 1925 25 September 1941
Seizo Iida 30 September 1941 13 August 1947
Tsunao Okumura 15 April 1948 1 June 1959
Minoru Segawa 1 June 1959 21 November 1968
Kiichiro Kitaura 21 November 1968 18 October 1978
Setsuya Tabuchi 18 October 1978 19 December 1985
Yoshihisa Tabuchi 20 December 1985 27 June 1991
Hideo Sakamaki 27 June 1991 14 March 1997
Masashi Suzuki 14 March 1997 30 April 1997
Jun'ishi Ujiie 1 May 1997 1 April 2003
Nobuyuki Koga 1 April 2003 1 April 2008
Kenichi Watanabe[19] 1 April 2008 present

Global headquarters address 1-9-1 Nihonbashi, Chuo-ku, TKY 103-8011 Japan +81-3-32111811 (Phone)

References

  1. ^ http://www.nomuraholdings.com/news/nr/holdings/20080922/20080922.html
  2. ^ http://www.ft.com/cms/s/0/30f5c498-4df9-11de-a0a1-00144feabdc0.html?nclick_check=1
  3. ^ http://www.nomuraholdings.com/news/nr/europe/20081006/20081006_a.html
  4. ^ http://en.wikipedia.org/wiki/Lehman_Brothers
  5. ^ http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aGY5f6XsWveE
  6. ^ http://www.newyorkfed.org/newsevents/news/markets/2009/an090727.html
  7. ^ http://www.bloomberg.com/apps/news?pid=20601087&sid=aEcG6_uAE.L4 Fed Names Nomura as Third Additional Primary Dealer This Year
  8. ^ http://www.nomuraholdings.com/news/nr/europe/20091216/20091216.html
  9. ^ http://www.nomura.com/americas/about_nomura/offices.shtml
  10. ^ http://online.wsj.com/article/SB10001424052748703652104574651764154800666.html?mod=googlenews_wsj
  11. ^ http://online.wsj.com/article/SB10001424052748703652104574651764154800666.html?mod=googlenews_wsj
  12. ^ http://www.nomura.com/asia/about_nomura/offices.shtml
  13. ^ http://www.nomura.com/europe/about_nomura/glance.shtml
  14. ^ http://www.reuters.com/article/idUSTOE5B60DL20091208
  15. ^ http://www.nomuraholdings.com/company/basic/founder/all.pdf
  16. ^ http://www.nomura.com/europe/about_nomura/our-story.shtml
  17. ^ http://www.nomuraholdings.com/company/basic/founder/all.pdf
  18. ^ http://www.nomuraholdings.com/company/group/holdings/history.html
  19. ^ http://www.ft.com/cms/s/30f5c498-4df9-11de-a0a1-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F30f5c498-4df9-11de-a0a1-00144feabdc0.html&_i_referer=http%3A%2F%2Fsearch.ft.com%2Fsearch%3FftsearchType%3Dtype_news%26page%3D1%26queryText%3Dwatanabe%26drillDown%3Dgapeople%253Aequals%2528%2522Kenichi%2BWatanabe%2522%2529%252Cnavgaarticlebrand%253Aequals%2528%2522The%2BMonday%2BInterview%2522%2529

External links

Coordinates: 35°41′02″N 139°46′32″E / 35.68389°N 139.77556°E / 35.68389; 139.77556


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