NMR - Nomura Holdings, Inc.

NYSE - NYSE Delayed Price. Currency in USD
5.25
+0.14 (+2.74%)
At close: 4:02PM EST
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Previous Close5.11
Open5.20
Bid5.21 x 900
Ask5.29 x 1100
Day's Range5.20 - 5.25
52 Week Range3.05 - 5.25
Volume128,535
Avg. Volume171,150
Market Cap16.421B
Beta (3Y Monthly)1.49
PE Ratio (TTM)19.02
EPS (TTM)0.28
Earnings DateN/A
Forward Dividend & Yield0.06 (5.36%)
Ex-Dividend Date2019-09-27
1y Target Est4.65
  • 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.

  • Japan's Nomura picks operations chief as new CEO to lead turnaround
    Reuters

    Japan's Nomura picks operations chief as new CEO to lead turnaround

    Nomura has picked joint operations chief Kentaro Okuda to lead a turnaround of Japan's biggest brokerage and investment bank, taking over from chief executive Koji Nagai, who will become chairman. The reshuffle was announced on Monday as Nomura posted its strongest quarterly profit in more than 17 years. With years of experience in investment banking, Okuda, 56, has also worked overseas, including as head of Nomura's U.S. arm.

  • Reuters

    UPDATE 3-Japan's Nomura picks operations chief as new CEO to lead turnaround

    Nomura has picked joint operations chief Kentaro Okuda to lead a turnaround of Japan's biggest brokerage and investment bank, taking over from chief executive Koji Nagai, who will become chairman. The reshuffle was announced on Monday as Nomura posted its strongest quarterly profit in more than 17 years.

  • 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.

  • Hedge Funds Love Live Nation Entertainment (LYV) Way More Than These Stocks
    Insider Monkey

    Hedge Funds Love Live Nation Entertainment (LYV) Way More Than These Stocks

    Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]

  • 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.

  • Consider These Fairly Priced Stocks for Your Portfolio
    GuruFocus.com

    Consider These Fairly Priced Stocks for Your Portfolio

    They have a Graham Blended Multiplier of less than 22.5 Continue reading...

  • Italian court convicts Deutsche Bank, Nomura in Monte Paschi derivative trial
    Reuters

    Italian court convicts Deutsche Bank, Nomura in Monte Paschi derivative trial

    An Italian court has convicted 13 former bankers from Deutsche Bank, Nomura and Monte dei Paschi di Siena over derivative deals that prosecutors say helped the Tuscan bank hide losses in one of the country's biggest financial scandals. Monte dei Paschi reached a settlement with the court over the case in 2016 at a cost of 10.6 million euros.

  • 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.

  • Moody's

    Nomura Securities Co., Ltd. -- Moody's announces completion of a periodic review of ratings of Nomura Holdings, Inc.

    Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Nomura Holdings, Inc. Tokyo, November 05, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Nomura Holdings, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

  • Here is What Hedge Funds Think About Nomura Holdings, Inc.  (NMR)
    Insider Monkey

    Here is What Hedge Funds Think About Nomura Holdings, Inc. (NMR)

    Hedge funds run by legendary names like George Soros and David Tepper make billions of dollars a year for themselves and their super-rich accredited investors (you’ve got to have a minimum of $1 million liquid to invest in a hedge fund) by spending enormous resources on analyzing and uncovering data about small-cap stocks that the […]

  • 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.

  • 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.