Nomura Sticks to Global Goals After $2.9 Billion Archegos Hit
Bloomberg 2 hrs ago Takashi Nakamichi and Takako Taniguchi
(Bloomberg) Nomura Holdings Inc. is pushing ahead with its global ambitions, unswayed by a $2.9 billion hit from the implosion of Archegos Capital Management.
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Chief Executive Officer Kentaro Okuda in a surprise appearance at Tuesday’s earnings briefing signaled he will persist with plans to build a presence in the U.S. even after the Archegos meltdown led to the Japanese firm’s biggest quarterly loss since 2009.
“There is no major change to our overall strategy for our wholesale business,” Okuda said. “Our Japanese clients’ interest in overseas markets is very strong and they are looking at the U.S. market. It’s important to build a solid platform in the U.S.”
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Nomura, Sparx to Form Company to Invest in Unlisted Firms
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January 14, 2021
A sign for The Nomura Holdings Inc. is displayed outside a Nomura Securities Co. branch in Tokyo, Japan, on Tuesday, April 23, 2019. Nomura is scheduled to release its full-year earnings on April 25. Photographer: Toru Hanai/Bloomberg
(Bloomberg) Nomura Holdings Inc. is teaming up with Japanese asset manager Sparx Group Co. to form a company that will invest in unlisted companies.
The move is part of Nomura’s efforts to do more business in private markets, where it sees potential for growth. It will also give individuals more opportunities to invest in unlisted firms, Nomura said in a statement on Thursday.