|Bid||3.2000 x 4000|
|Ask||3.2100 x 900|
|Day's Range||3.2000 - 3.2400|
|52 Week Range||3.0500 - 5.1000|
|Beta (3Y Monthly)||1.37|
|PE Ratio (TTM)||11.59|
|Forward Dividend & Yield||0.05 (1.70%)|
|1y Target Est||4.22|
CEO Koji Nagai “should be held responsible for the information leakage incident” and so his re-election to the board isn’t warranted, the influential proxy adviser wrote in a report on its recommendations for voting at Nomura’s annual shareholder meeting, which is scheduled for June 24. Japan’s financial regulator ordered Nomura to improve internal controls last month following revelations that its employees leaked non-public information on potential changes to listing criteria on the Tokyo Stock Exchange. Nagai, 60, took a 30% pay cut for three months, but vowed to stay on as CEO.
Japan’s largest brokerage sank toward its lowest close since 2012 on Wednesday, sending the firm’s valuation to 0.43 times net assets. The company’s prospects have only gotten worse in the past week after Japan’s financial regulator slapped it with a rare business improvement order for improperly sharing sensitive information. Several Nomura clients dropped the firm from bond deals after the revelation.
Japan's financial watchdog on Tuesday ordered Nomura Holdings to improve its business practices after the country's biggest brokerage admitted an employee had leaked market information. The Financial Services Agency said it had issued one of its "business improvement orders" against Nomura, a regulatory punishment that requires firms to submit a plan detailing how they will improve internal controls. Nomura on Friday confirmed that information related to listing and delisting criteria now under review by the Tokyo Stock Exchange had been handled improperly.
The business improvement order was the first for Nomura since 2012, when the company was embroiled in an insider-trading scandal that led to the then chief executive officer’s resignation. There were inadequate systems for managing information and employees lacked awareness of compliance, the Financial Services Agency said in a statement Tuesday. Nomura cut the pay of CEO Koji Nagai over the latest incident last week, but he vowed to remain in the post.
Honda Finance Co., Komatsu Ltd., and Tokyo Metro Co. dropped Nomura as a joint lead manager of yen bond sales, according to details provided separately on Monday by other managers on the deals. Fuji Oil Holdings Inc. did the same, joining Osaka Gas Co., which said last week that it excluded the firm from a planned yen debt sale. Nomura cut the pay of Chief Executive Officer Koji Nagai and other executives temporarily over the incident, which is hurting business at a time when Japan’s biggest brokerage is already reeling from its first annual loss in a decade.
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.
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.
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.
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.