|Bid||4.3500 x 800|
|Ask||4.3800 x 1200|
|Day's range||4.2900 - 4.4300|
|52-week range||3.0500 - 5.4100|
|Beta (5Y monthly)||1.46|
|PE ratio (TTM)||16.05|
|Forward dividend & yield||0.27 (6.10%)|
|Ex-dividend date||26 Sep 2019|
|1y target est||5.12|
Nomura (NMR) seems to be a good value pick, as it has decent revenue metrics to back up its earnings, and is seeing solid earnings estimate revisions as well.
(Bloomberg) -- Follow Bloomberg on Telegram for all the investment news and analysis you need.Nomura Holdings Inc.’s investment banking business in Asia is set to return to profit this fiscal year after more than a decade of losses since its Lehman Brothers Holdings Inc. acquisition, according to its division chief.Cost cuts and fees from financing will drive the profit rebound in the year ending March 31, said Kenji Teshima, head of investment banking for Asia excluding Japan. Revenue is set to rise by about one third, led by private financing and dealmaking in India and Australia, he said, while warning that some transactions in China may be affected by the coronavirus outbreak.Japan’s biggest securities firm last year unveiled plans to cut $1 billion of costs at its struggling global wholesale operation, helping to revive profit that’s been under pressure from years of losses abroad. Teshima’s group is benefiting from the firm-wide savings even as he keeps net headcount largely unchanged.The cost cuts “will indirectly have a positive impact in terms of cost to my business,” he said in an interview in Hong Kong. Coupled with the revenue gains, that means “all of a sudden, it’s a game-changer year.”Nomura’s 2008 purchase of Lehman assets in Asia swelled costs as it took on bankers. For global firms in the region, it can be harder to make money from investment banking than in Europe and America because of lower fees and high costs of running operations in multiple countries.Read how Nomura’s profit revival masks incoming CEO’s challengeTeshima has shifted Nomura’s focus in several nations since taking the role four years ago. In India, he increased the emphasis on financing and the capital markets business rather than mergers advice, because many companies there need access to funds for growth. In Australia, he built a sponsor business from scratch, helping private equity funds execute deals.While Nomura doesn’t split out regional earnings figures for its investment banking unit, wholesale revenue -- which also includes global markets -- in Asia ex-Japan jumped 53% in the nine months ended Dec. 31. Pretax profit from the region was 23.1 billion yen ($210 million) in the period, compared with a 3.7 billion yen loss a year earlier.Shares of Nomura closed 0.3% higher on Wednesday in Tokyo. The stock has gained about 68% since early June on renewed optimism over the profit outlook.Private financing, which involves giving loans against collateral, has been growing in India and Australia in the past few years, Teshima said. India has provided “a very good mix” of revenue as the bank bolsters its margin lending business there, enabling it to compete with foreign players, he said.The bank set up a joint entity with the markets division two years ago to better structure financing deals when advising clients on mergers and stock and bond transactions. One growth area is to provide leverage to hedge funds and insurers to purchase high-yield bonds underwritten by the bank, allowing it to earn multiple fees from one transaction, he said.Mergers advisory between Japan and Asia and cross-border activity between the region and the rest of the world “has also made a step up,” contributing to the growth, Teshima said. Nomura was ranked 12th in Asia ex-Japan M&A last year, up from 30th a year earlier, data compiled by Bloomberg show.In Australia, there are opportunities stemming from Japanese companies’ appetite for acquisitions. “Australia is a country where there’s a hot eye from Japan in terms of foreign investment,” he said.Australia and India contribute about 20% and 15% of ex-Japan Asia investment banking revenue respectively, while China is the biggest market, making up about 40%, Teshima said.Virus ImpactDeals involving public fund raising in China may be affected by the coronavirus outbreak and the trade war as market valuations shrink, Teshima said. Still, that will lead to more deals where companies need to raise funds privately, he said, adding that he expects inbound mergers and offshore financing for Chinese clients to increase. Investors will switch to investment-grade issuance due to higher perceived risks, he added.Read about Nomura’s China expansion plansThe virus that originated in China has led to more than 1,800 deaths in the country and at least 72,000 confirmed cases globally. It has caused delays in dealmaking as travel restrictions put discussions on hold. A handful of Hong Kong-based managing directors at Nomura who were on business trips elsewhere in Asia have opted to stay in other offices temporarily for health and safety.“Over this period, it is about being as flexible as possible,” Teshima said. “In fact, it works to our advantage to have some of the active bankers to be sitting outside of Hong Kong for a temporary period.”(Updates with comment on M&A advisory in 11th paragraph)To contact the reporter on this story: Cathy Chan in Hong Kong at email@example.comTo contact the editors responsible for this story: Candice Zachariahs at firstname.lastname@example.org, Russell WardFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The third largest global economy after the United States and China is further pushed to the brink of a slump by the coronavirus outbreak in China.
(Bloomberg) -- Nomura Holdings Inc. is exploring a sale of its Taiwanese asset management unit, people with knowledge of the matter said.The Japanese firm is working with Goldman Sachs Group Inc. on the potential sale of Nomura Asset Management Taiwan Ltd., according to the people. Nomura is seeking to value the business at about $500 million in any deal, the people said, asking not to be identified because the information is private.The Taiwanese operations, founded in 1998, offer products ranging from equities and high-yield bond funds to money-market funds, according to its website. Nomura bought the business from ING Groep NV for an undisclosed amount in 2014, becoming the first Japanese company to enter the Taiwanese asset management market.The unit could draw interest from other global asset managers, the people said. Deliberations are at an early stage, and Nomura could still decide to keep the business, the people said.Representatives for Nomura and Goldman Sachs declined to comment.Shares of Nomura fell as much as 1.8% in early Monday trading in Tokyo, while the benchmark Nikkei 225 Stock Average dropped 1.2%.(Updates to add Nomura’s share price in the last paragraph.)To contact the reporter on this story: Manuel Baigorri in Hong Kong at email@example.comTo contact the editors responsible for this story: Fion Li at firstname.lastname@example.org, Ben ScentFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Follow Bloomberg on Telegram for all the investment news and analysis you need.The rapidly-spreading coronavirus has prompted Nomura Holdings Inc. to flip some of its top currency calls for 2020 just a month into the year.Japan’s biggest securities firm recommends long-dollar positions against Thailand’s baht and the Chinese yuan. Back in December, shorting the greenback versus these low-yielding Asian currencies was among its top trades for this year. Nomura is also advising selling the Singapore dollar against a basket of its trading partners.The shift comes as investor optimism over improving U.S.-China trade relations and a nascent recovery in global growth has been replaced by fears about the economic impact of the viral outbreak. The baht, won and Singapore dollar are taking the biggest hit as measures to stem the spread of the disease disrupt trade, tourism and supply chains worldwide.“It was about low yielders outperforming in December,” said Craig Chan, Nomura’s global head of FX strategy in Singapore. “It’s kind of shifting and most currencies linked to China are suffering. There are lot of currencies in the low-yielding space which are looking to break key levels.”The epidemic has jeopardized China’s economic recovery, with scores of millions of citizens barred from travel, and companies, factories and retail outlets shuttered for a period of weeks. The death toll has risen to 563.Nomura had in December predicted the offshore yuan to strengthen to 6.89 per dollar by the end of March. It forecast the won to reach 1,150 and the baht to advance to 29.7 against the greenback. The currencies were trading at 6.9706, 1,183.40 and 31.078, respectively, on Thursday.High YieldersWhile Indonesia’s rupiah and India’s rupee -- two of emerging Asia’s highest-yielding currencies -- have outperformed their peers so far this year, Chan isn’t buying them just yet.READ: Rupiah Bonds Top in Asia Boosted by Central Bank’s Debt Buys“It’s really about observing the intensity of this viral outbreak,” he said. “We may go into high-yielders like India and Indonesia once the global external backdrop begins to stabilize a bit.”A potential “V-shaped recovery” from the virus impact will provide scope for Nomura to reinstate its trades on low-yielders in the future, Chan said.Overall, Chan expects Asian currencies to be weighed down by the risk of regional central banks turning toward more easing to counter a hit to their economies from the coronavirus.The People’s Bank of China cut some interest rates Monday and injected massive liquidity into the financial system to shore up slumping markets, while the Bank of Thailand lowered its benchmark rate to a record low on Wednesday.READ: Brace for a Surprise Rate Cut From BOK, Insurer Says(Updates prices, adds comment on central banks in the penultimate paragraph.)To contact the reporter on this story: Subhadip Sircar in Mumbai at email@example.comTo contact the editors responsible for this story: Tan Hwee Ann at firstname.lastname@example.org, Shikhar Balwani, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
In sync with Goldman Sachs' (GS) efforts to gain majority control in the joint venture and improve profitability, the bank announces plans to increase workforce in China.
TD Ameritrade (AMTD) appears to be a promising bet riding on robust prospects and long-term growth opportunities. However, expenses witness a rise.
Following the approval, T. Rowe Price (TROW) will be able to offer active strategies without the need to disclose certain information that might be harmful to the interests of fund shareholders.