|Bid||3.2300 x 2200|
|Ask||3.2400 x 3200|
|Day's Range||3.1200 - 3.2400|
|52 Week Range||3.0800 - 5.2900|
|Beta (3Y Monthly)||1.19|
|PE Ratio (TTM)||11.67|
|Forward Dividend & Yield||0.05 (1.39%)|
|1y Target Est||4.22|
The chief executive of Nomura Holdings will take a 30% pay cut for three months over its improper handling of market information, marking the latest headache for CEO Koji Nagai, as he struggles to turn around the Japanese investment bank. The incident comes a month after Nomura reported its first annual loss in a decade and said it would not pay out bonuses to directors. Nagai, under pressure as Nomura wrestles with a restructuring plan that includes cutting $1 billion in costs from its wholesale business, told a news conference that he accepted responsibility for the information leak but would not step down.
CEO Koji Nagai will forgo 30% of his salary for three months, the firm said after finding that a researcher at an affiliate shared information on potential changes to the Tokyo Stock Exchange sections inappropriately. Japan’s financial regulator plans to order the brokerage to improve internal controls, a person with knowledge of the matter said earlier, in what will be the first such action against Nomura since 2012. The incident could hinder Nagai’s plan to turn around Japan’s biggest brokerage after posting the first annual loss in a decade.
Chief Executive Officer Koji Nagai and other Nomura officials are due to hold a press conference at 3 p.m. Japan time on Friday to discuss the results of the probe. The Financial Services Agency plans to issue a business improvement order against Nomura Securities Co. as soon as this month after the leak of information on changes to the composition of the Tokyo Stock Exchange market segments, a person with knowledge of the matter said. Information “was handled improperly from the viewpoint of ensuring fair and sound markets in the course of communicating information at Nomura Securities,” the Tokyo-based firm said in a statement late Thursday.
Shares of Japan’s second-largest brokerage are “quite undervalued,” CEO Seiji Nakata said in a recent interview, citing the company’s dividend payout policy, stock buybacks and ability to still make money. In a bid to bolster those profits, Daiwa on Tuesday announced plans to cut 15 billion yen ($136 million) in costs over two years, joining Nomura in trying to combat a slump at the retail brokerage business. Most of Daiwa’s cost cuts will focus on the domestic retail business, where it plans to save 10 billion yen by the year ending March 2021.
The retreat sounded by Nomura Holdings Inc. last month marks just the latest Japanese overseas flop, prompting current and former executives, as well as analysts, to question if they can ever make it in international capital markets. “Japan is a manufacturing powerhouse but a financial lightweight,” says David Threadgold, a Keefe, Bruyette & Woods analyst in Tokyo who has followed banks there for more than three decades.
Prosecutors led by Giordano Baggio asked for jail sentences of five years and eight months in case of convictions for Deutsche Bank’s Michele Faissola, former head of global rates, for Michele Foresti, former head of structured trading, and Dario Schiraldi, former head of European sales. The prosecutors also requested eight-year jail sentences for former Monte Paschi Chairman Giuseppe Mussari and ex-General Manager Antonio Vigni in Milan on Thursday.
Milan prosecutors requested jail terms for four former Deutsche Bank staff and two former Nomura employees in relation with two controversial derivative transactions the two banks arranged for Italian lender Monte dei Paschi di Siena. Prosecutors requested the seizure of 441 million euros from Deutsche Bank and 445 million euros from Nomura. The banks were accused of colluding to hide losses at Monte dei Paschi.
Milan prosecutors have asked for four former Deutsche Bank employees and two former Nomura employees to serve prison time for their alleged role in a complex derivatives scandal at Italian bank Monte dei Paschi di Siena. The prosecutors also asked for the seizure of about €441m from Deutsche Bank and €445m from Nomura. Deutsche Bank declined to comment.
Final Fantasy VII Remake is a big deal. It's the upgraded, high-fidelity version of a legendary installment in the Final Fantasy franchise, and it's been blanketed in mystery since its announcement four years ago. Today, Sony revealed a new trailer for the game, complete with a promise from series shepherd Tetsuya Nomura that more information is coming in June.
SoftBank Corp. hired Nomura to advise on the transaction, which will make the mobile operator the largest shareholder in Yahoo Japan, according to the people, who asked not to be identified because the matter is private. Goldman Sachs is working with parent SoftBank Group Corp. on the sale of its stake in Japan’s most-visited web portal, the people said. The transaction announced Wednesday has two main parts: SoftBank Group will sell its 36% holding to Yahoo Japan through a tender offer at a discount price, and the shares will then be canceled.
In a rare move for Japan’s largest securities firm, bonuses of about 60 executives, including senior managing directors, will be scrapped, Nomura said after reporting quarterly earnings on Thursday. The string of bad news over the past few months has been enough to raise questions about whether the 94-year-old firm might be acquired, a notion Chief Executive Officer Koji Nagai has sought to debunk. Nagai this month announced a three-year cost cutting plan aimed at returning Nomura’s overseas operations to profit and revamping its mainstay domestic consumer business.
Japan's Nomura Holdings has no plan to follow the lead of Wall Street rivals and seek a tie-up with a commercial lender, its chief executive told Reuters, pledging to stay independent even as the investment bank faces its first annual loss in a decade. Nomura in January reported a net loss of more than 101 billion yen ($903 million) in the first three quarters of the year to end-March. It has since announced an overhaul plan to cut $1 billion in cost from its wholesale business and close more than 30 of its 156 retail branches.
Morgan Stanley's (MS) acquisition of an additional 5.5% stake in its China mutual funds joint venture for $3.73 million will make it the largest shareholder.
There's a lot of chaos in Europe right now. There's been a major slowdown in China, and Japan, Italy (and soon Germany) are in a recession. And, of course, there's Brexit -- the most chaotic mess of them all.Here's a quick recap: Back in late June 2016, Britain voted to leave the European Union (EU). The vote shocked the world, especially the EU and even the people of Britain. So, in the nearly three years since, the EU and British Parliament have failed to come to a deal, and the initial Brexit date of March 29, 2019 has passed.So far, Prime Minister Theresa May has failed multiple times to convince Members of Parliament (MPs) to approve her revised exit plans. In fact, she even offered to resign if the MPs agree to Brexit. The reality is that most MPs are not in favor of Brexit, and are secretly hoping for a second referendum vote.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut now the EU has another big problem on its hands. This morning, President Trump announced billions in new tariffs:The World Trade Organization finds that the European Union subsidies to Airbus has adversely impacted the United States, which will now put Tariffs on $11 Billion of EU products! The EU has taken advantage of the U.S. on trade for many years. It will soon stop!-- Donald J. Trump (@realDonaldTrump) April 9, 2019The stock market stumbled on the news, with the Dow falling more than 200 points, though it did bounce back into the close after the "smart money" jumped in later in the afternoon.So, what does this mean for stocks going forward? And should you be worried?My answer is no. That said, I also suggest taking a more domestic investing approach.The U.S. is the oasis around the world. Our economy is resilient and on track for solid 2% growth this year. That makes the United States a safe haven for investors all over the world. (The strong dollar is great evidence of that.) So, the best investments remain in domestic companies.But it's not always that simple, since many stocks are multinationals these days.This being the case, you don't want to "throw the baby out with the bathwater" by ditching great investments. But, at the same time, you certainly don't want your portfolio dragged down by too much exposure to the situations I mentioned before.That's where my Portfolio Grader comes in.My ratings tool does not know what Theresa May, Donald Trump, Angela Merkel, or anyone else is doing and saying. But it does know where big money is flowing. And when that nozzle shuts off, it's time to take a second look. Over many years, I've found that this type of money flow is the biggest determining factor in an investment's success (or failure).You also want to look at the fundamentals. And if a multinational company's earnings, sales, cash flow, etc. aren't so hot now…then its exposure to Brexit and trade wars certainly isn't going to help matters!With that in mind, these are stocks to watch -- and avoid:Company Symbol Quantitative Grade Fundamental Grade International Game Technology PLC NYSE:IGT F D MoneyGram International NASDAQ:MGI F C Nordic American Offshore Ltd. NYSE:NAO F C Nomura Holdings (ADR) NYSE:NMR F F Ryanair Holdings PLC (ADR) NASDAQ:RYAAY F D Telecom Italia (ADR) NYSE:TI.A F D Venator Materials PLC NYSE:VNTR F D Some of them are U.K.-based, right in the middle of the Brexit mess. Nomura is not only Japan's largest asset manager -- but does plenty of European business from its London office. Telecom Italia isn't faring much better, with the economic malaise there. And the rest have exposure to all sorts of troubled economies.As you can see, Portfolio Grader gives all of these vulnerable stocks an "F" for their Quantitative Score, my proprietary indicator of money flow.Instead, money is flooding into stocks that have much stronger fundamentals, AND another key factor of success: a healthy dividend.By that, I mean a dividend with a long history…that's growing over time…and comes from a business that can sustain that in the future.In a world of slow growth -- and no yield -- these are the companies that will do well on Wall Street…while the others struggle.I call them "Money Magnets." And you can see exactly what makes them such a compelling opportunity at this link.Even in troubled times, money has to go somewhere. It'll just go into fewer and fewer stocks.Which makes these stocks a cash cow to those of us who get positioned now.It's not too late. But I'd hate for anyone to look back on this in a few months, and wish they'd acted. Because there won't be much I can do about it then.So, be sure to check out my Money Magnets briefing -- free at this link.Compare Brokers The post 7 Vulnerable Stocks to Watch On Brexit News and Trade Wars appeared first on InvestorPlace.
Nomura plans to sell about 150 billion yen of the notes, while Daiwa Securities Group Inc. will handle about 90 billion yen and SMBC Nikko Securities Inc. about 80 billion yen, the people said, asking not to be identified because the matter is private. The sale is aimed at individual investors and will help SoftBank repay a mountain of debt coming due over the next six months. It will also be SoftBank’s second mammoth fundraising from public investors within six months, following the December initial public offering for its telecom unit that raised more than 2 trillion yen mainly from individual investors.
To lower losses at its struggling operations in the United States and Europe, Nomura (NMR) intends to cut jobs and reduce branches across wholesale business.