Nomura faces rare vote over shareholder's name-change proposal
[TOKYO] Nomura Holdings has received a shareholder proposal that it will put to a vote for the first time in 13 years at a general meeting next month, as activism in the nation's stock market heats up.
The proposal seeks to change the company's name to Nomura Securities Group, according to a notice of the meeting. The shareholder is not identified but is a former employee of Nomura's brokerage unit, according to a source familiar with the matter.
A name change would help the company return to the principles of its founder, Tokushichi Nomura, after the firm went through a series of scandals, according to the shareholder. Those include manipulative trading in bond derivatives, which led to the company getting hit with a regulatory penalty and being temporarily left out from corporate bond deals.
The board of Nomura is opposed to the proposal, according to the notice. The brokerage, which is commemorating its 100th anniversary this year, said it operates financial services globally beyond the securities business and its current name is widely recognised as the holding company of a financial services group.
Activist investors are pressuring Japanese companies to boost shareholder returns, in line with a push by the Tokyo Stock Exchange and the government to make the nation's equity market more attractive for global investors.
Many more stockholder activism campaigns in Japan are likely even after the proxy season wraps up in June, according to Bloomberg Intelligence analyst Yasutake Homma.
In general for shareholder proposals, there likely are a fair number of cases where issues are resolved through dialogue with investors before general meetings, said Hideyasu Ban, another Bloomberg Intelligence analyst.
'Companies may also persuade shareholders to withdraw their proposals ahead of time,' Ban said. 'It is possible that no proposals have reached the stage of a vote as a result of such efforts.'
Nomura's founder was born in 1878, also the year in which the Osaka and Tokyo stock exchanges were founded. He left behind a series of principles including that the company's mission is to 'enrich the nation through the securities business', according to the firm's website. BLOOMBERG
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PHOTO: CHONG XIN WEI, BT While longstanding establishments – such as British Indian Curry Hut and Wala Wala Cafe Bar – are still holding on, sustained largely by a pool of regulars, their top and bottom lines have taken a hit. Footfall at British Indian Curry Hut has slipped more than 30 per cent since 2019, said general manager Khader Basha Ghouse Basha. Revenue has fallen 37 per cent from pre-pandemic levels. The restaurant sees an average of 1,800 checks and 500 takeaway receipts per month. Along the same street, Italian restaurant La Nonna logged an 8 per cent year-on-year decline in sales in the first three quarters of 2025, said owner Olivier Dyens. 'Our margin was already melting like snow in the sun. Now with lower sales, we are starting to make small losses,' he said. ' Our margin was already melting like snow in the sun. Now with lower sales, we are starting to make small losses. 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In 2018, the Far East-led consortium clinched the coveted commercial and residential site in Holland Road for S$1.21 billion, or nearly S$1,888 per square foot per plot ratio. Deborah Tan, Far East Organization's director for operations and marketing, commercial group, said: 'We believe that the location was ready for revitalisation as it offered a chance to bring new energy to an already established and authentic community.' She added: 'One Holland Village is conceptualised to complement the low-rise, shopping-street character of the neighbourhood, with an emphasis on creating more public spaces and enhancing the liveliness of the area.' The influx of eateries is posing stiffer competition in an already saturated F&B landscape, though some point to new upsides. For one, its 464-lot carpark has improved visitor accessibility. Wala Wala's Yeo said this has encouraged some regulars to return. While sales have yet to see a significant increase, he noted that there may be some spillover effect from the mall. Tenants also observed a new crowd from homeowners at the 296-unit One Holland Village Residences, which is fully sold. About 90 per cent of homebuyers are locals and permanent residents, with the remainder coming from countries such as China, Indonesia, Malaysia and the US, said Far East's Tan. Le Bon Funk moved into a corner unit along Holland Road in 2023, drawn by the new mall and residential developments, said chef-owner Keirin Buck. While walk-in traffic at the Holland Village outlet accounts for just 10 to 15 per cent of customers – compared with about 30 per cent at its Club Street branch – Buck said business has been good and the 60-seater still fills up most nights. Still, some worry F&B supply is outpacing actual demand. SNBA's Thiagarajan said food options in Holland Village have grown 30 per cent since the mall's opening. 'The area doesn't necessarily have more people – it just has more options. If businesses in the mall are doing okay, while the streets remain quiet, it means we're not seeing fresh footfall. We need people.' Nearby is the ageing Holland Road Shopping Centre, where magazine store Thambi shut down in 2024 and other tenants have also closed. While the strata-titled property has been showing signs of retail fatigue, new operators are set to move in. ' Revitalising Holland Village requires acknowledging that the old formula simply will not work in today's landscape. The vibrant, cross-island crowd we once attracted now consumes differently. The goal now is not to recreate the past, but to interpret the village for today's audience. ' — Stanley Yeo, owner of Wala Wala Plans for revitalisation To attract customers and boost sales, some businesses are diversifying. At night, V Lounge operates as a whiskey bar. Gan is considering opening from noon for coffee, offering a daytime space to work and relax. To boost sales, V Lounge's Gan converts its space to host events, such as pottery lessons and art exhibitions. PHOTO: CHONG XIN WEI, BT The bar can also host events. Renting out the space brings in additional income – a pottery class, for instance, can fetch between S$1,000 and S$3,000, depending on the duration of the session, said Gan. At the precinct level, Thiagarajan said several tenants are exploring marketing initiatives to improve footfall along Lorong Mambong and Lorong Liput. These include a three-month campaign starting July or August, coinciding with SG60 celebrations, where participating restaurants will offer discounts, product deals and vouchers. Diners who visit all outlets can enter a lucky draw. These tenants have plans to hold four marquee events annually, starting from 2026. They could include National Day, Chinese New Year, Christmas and other major dates. Wala Wala's Yeo said: 'Revitalising Holland Village requires acknowledging that the old formula simply will not work in today's landscape. The vibrant, cross-island crowd we once attracted now consumes differently.' 'The goal now is not to recreate the past, but to interpret the village for today's audience. This includes integrating social media strategies, collaborating with influencers, and creating content-worthy experiences that resonate with a digitally savvy demographic.'
