NMR - Nomura Holdings, Inc.

NYSE - NYSE Delayed price. Currency in USD
5.19
-0.03 (-0.57%)
At close: 4:02PM EST
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Previous close5.22
Open5.21
Bid0.00 x 1100
Ask0.00 x 1400
Day's range5.16 - 5.21
52-week range3.05 - 5.25
Volume79,913
Avg. volume153,720
Market cap16B
Beta (3Y monthly)1.49
PE ratio (TTM)18.80
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield0.27 (5.30%)
Ex-dividend date2019-09-27
1y target estN/A
  • 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.

  • Nomura’s Next CEO Vows Urgency for Brokerage’s Overhaul
    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.

  • Financial Times

    Incoming Nomura boss warns of ‘sense of crisis’

    After months of speculation, Kentaro Okuda was named on Monday as the successor to Koji Nagai, whose seven years at the top were largely spent steering the company around its ill-fated 2008 acquisition of the non-US operations of Lehman Brothers. The promotion of Mr Okuda from his current role as chief operating officer marks a practical and symbolic break with Nomura’s past. It is both the first time that the company has been led by a former head of its investment banking division, and that the reins have been handed to an executive with no experience in the core retail brokerage business.

  • Financial Times

    Nomura: the spider’s stratagem

    Robert the Bruce’s plucky spider was a weak-willed defeatist compared with Nomura. The appointment of Kentaro Okuda as chief executive shows Nomura believes it still has a chance. Mr Okuda ignores this threat at his peril.

  • Royal Bank of Scotland Launches Bo to Boost Digital Banking
    Zacks

    Royal Bank of Scotland Launches Bo to Boost Digital Banking

    Royal Bank of Scotland (RBS) officially launches the stand-alone digital banking platform, Bo.

  • TD Ameritrade Rides on Inorganic Growth Efforts, Costs Rise
    Zacks

    TD Ameritrade Rides on Inorganic Growth Efforts, Costs Rise

    TD Ameritrade (AMTD) appears to be a promising bet riding on robust prospects and long-term growth opportunities. However, expenses witness a rise.

  • T. Rowe Wins Preliminary Approval for Semi-Transparent ETFs
    Zacks

    T. Rowe Wins Preliminary Approval for Semi-Transparent ETFs

    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.

  • HSBC, Royal Bank of Scotland Plan to Enhance Digital Banking
    Zacks

    HSBC, Royal Bank of Scotland Plan to Enhance Digital Banking

    HSBC and Royal Bank of Scotland (RBS) are set to launch respective new digital banking platforms.

  • Goldman Plans to Provide Outlook for Metrics in January
    Zacks

    Goldman Plans to Provide Outlook for Metrics in January

    Goldman's (GS) plan to increase transparency will help the company gain investors' confidence.

  • HSBC Gets Warning From Bank of England Over Conduct Issues
    Zacks

    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.

  • HSBC to Reduce 10,000 Jobs in Europe Amid Cost-Saving Drive
    Zacks

    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.

  • BlackRock Eyes Partnership With Tencent to Expand in China
    Zacks

    BlackRock Eyes Partnership With Tencent to Expand in China

    BlackRock (BLK) is in preliminary talks with Tencent over the past year to develop a partnership in an effort to expand in the China mutual fund market.

  • Goldman (GS) to Buy Majority Stake in China Joint Venture
    Zacks

    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.

  • HSBC Plans to Bid for Aviva Asia Business, Seeks to Diversify
    Zacks

    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.

  • HSBC Plans to Lay Off 4,000 Employees Globally to Cut Costs
    Zacks

    HSBC Plans to Lay Off 4,000 Employees Globally to Cut Costs

    HSBC will likely reduce 2% of its workforce, i.e. 4,000 jobs globally, to reduce costs.

  • Nomura Holdings Inc (NMR) Q1 2020 Earnings Call Transcript
    Motley Fool

    Nomura Holdings Inc (NMR) Q1 2020 Earnings Call Transcript

    NMR earnings call for the period ending June 30, 2019.

  • China to Speed Up Pace of Opening Markets: Banks to Gain?
    Zacks

    China to Speed Up Pace of Opening Markets: Banks to Gain?

    Foreign firms are set to benefit as China plans to end all ownership limits within its financial sector a year earlier than previously stated.

  • Nomura’s Brokerage Venture With Line Seeks to Expand User Base
    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.