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Yahoo
2 days ago
- Business
- Yahoo
Japan's Nomura committed to growth of US business, CEO says
By Anton Bridge TOKYO (Reuters) -Nomura Holdings, Japan's largest investment bank and brokerage, is committed to growing its business in the United States despite recent market volatility, its chief executive said on Friday. The announcement of sweeping tariffs in April triggered market turbulence and led some investors to sell down U.S. assets as they question U.S. financial dominance and safety. "Although America can be said to be the epicentre of the market volatility surrounding global tariff negotiations, the U.S. is the most important area rich in business opportunities," CEO Kentaro Okuda said at an investor relations event in Tokyo. The U.S. market accounted for 14% of Nomura's income before income taxes in the year ended March 2025, according to an investor relations presentation. Nomura's management has long sought to establish the bank as a global player and in April announced the acquisition of Australian Macquarie Group's U.S. and European public asset management businesses for $1.8 billion - its largest ever. But some previous acquisitions have had mixed results, such as the purchase of some assets from Lehman Brothers in 2008, which it later wrote down. While the U.S. market will remain attractive over the long term, Nomura can benefit from any moves away from U.S. assets, Christopher Willcox, head of wholesale and chairman of the asset management division, said at the event. "We think that the dominance of the U.S. market over the last few years is unhealthy and a rebalancing towards focusing on Europe and Asia is a good thing," Willcox said. "We run a global business so that's fine," Willcox added. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
2 days ago
- Business
- CNA
Japan's Nomura committed to growth of US business, CEO says
TOKYO :Nomura Holdings, Japan's largest investment bank and brokerage, is committed to growing its business in the United States despite recent market volatility, its chief executive said on Friday. The announcement of sweeping tariffs in April triggered market turbulence and led some investors to sell down U.S. assets as they question U.S. financial dominance and safety. "Although America can be said to be the epicentre of the market volatility surrounding global tariff negotiations, the U.S. is the most important area rich in business opportunities," CEO Kentaro Okuda said at an investor relations event in Tokyo. The U.S. market accounted for 14 per cent of Nomura's income before income taxes in the year ended March 2025, according to an investor relations presentation. Nomura's management has long sought to establish the bank as a global player and in April announced the acquisition of Australian Macquarie Group's U.S. and European public asset management businesses for $1.8 billion - its largest ever. But some previous acquisitions have had mixed results, such as the purchase of some assets from Lehman Brothers in 2008, which it later wrote down. While the U.S. market will remain attractive over the long term, Nomura can benefit from any moves away from U.S. assets, Christopher Willcox, head of wholesale and chairman of the asset management division, said at the event. "We think that the dominance of the U.S. market over the last few years is unhealthy and a rebalancing towards focusing on Europe and Asia is a good thing," Willcox said.
Reuters
2 days ago
- Business
- Reuters
Japan's Nomura committed to growth of US business, CEO says
TOKYO, May 30 (Reuters) - Nomura Holdings (8604.T), opens new tab, Japan's largest investment bank and brokerage, is committed to growing its business in the United States despite recent market volatility, its chief executive said on Friday. The announcement of sweeping tariffs in April triggered market turbulence and led some investors to sell down U.S. assets as they question U.S. financial dominance and safety. "Although America can be said to be the epicentre of the market volatility surrounding global tariff negotiations, the U.S. is the most important area rich in business opportunities," CEO Kentaro Okuda said at an investor relations event in Tokyo. The U.S. market accounted for 14% of Nomura's income before income taxes in the year ended March 2025, according to an investor relations presentation. Nomura's management has long sought to establish the bank as a global player and in April announced the acquisition of Australian Macquarie Group's ( opens new tab U.S. and European public asset management businesses for $1.8 billion - its largest ever. But some previous acquisitions have had mixed results, such as the purchase of some assets from Lehman Brothers in 2008, which it later wrote down. While the U.S. market will remain attractive over the long term, Nomura can benefit from any moves away from U.S. assets, Christopher Willcox, head of wholesale and chairman of the asset management division, said at the event. "We think that the dominance of the U.S. market over the last few years is unhealthy and a rebalancing towards focusing on Europe and Asia is a good thing," Willcox said. "We run a global business so that's fine," Willcox added.
Japan Times
2 days ago
- Business
- Japan Times
Nomura sees great opportunities to grow in U.S. despite turmoil
Nomura Holdings is setting its sights on the United States for growth despite the current turmoil surrounding the world's biggest economy. Japan's largest brokerage said it is strengthening its focus on the Americas through "strategic resource allocation,' according to an investor day presentation, which touted the "big opportunities' there. The firm plans to advance targets for its investment management and wholesale banking businesses by pursuing long-term growth in the Americas, it said. "Currently, market volatility is increasing due to global tariff negotiations, and the U.S. can be said to be the epicenter of all this,' Chief Executive Officer Kentaro Okuda told investors on Friday. "However, in our company's global strategy, the U.S. is the most important area rich in business opportunities, and this will not change in the future.' Nomura is in expansion mode, having recently clinched a $1.8 billion deal to buy Macquarie Group's U.S. and European public asset management business. The firm's optimism toward the U.S. comes against wider sentiments that are more worried about U.S. President Donald Trump's trade policies overshadowing global growth prospects. In its presentation, the Tokyo-based firm also said it aims to boost revenue from trading and investment banking business by 15% to 20% in dollar terms by March 2031. It plans to expand in private credit, structured and solutions, equity trading in Europe and Asia, and international wealth management. Led by ex-JPMorgan Chase & Co. executive Christopher Willcox, this wholesale banking arm will seek to "ramp up productivity' of bankers in advisory business as well as global markets sales and trading operations. The division accounts for about half of Nomura's overall net revenue. Meanwhile, Nomura also introduced a ¥50 billion ($348 million) pretax profit target for its newly created banking division for the year ending March 2031. Nomura earned a record net profit last fiscal year, joining Wall Street titans in benefiting from trading while enjoying a boom in dealmaking and retail investing in Japan. The firm posted a 72% increase in income before taxes to ¥472 billion in the year ended this March. At last year's investor day, the management unveiled a target to lift annual pretax profit to more than ¥500 billion by March 2031. It had also identified India and the Middle East as growth opportunities.
Mint
4 days ago
- Business
- Mint
China Steel Woes Deepen as Rebar Prices Fall to Eight-Year Low
Prices of a key Chinese steel product used in construction were at their lowest since 2017 as the world's biggest market for the metal grappled with a massive glut. Reinforcement bar — or rebar for short — is a benchmark for China's traditional steel markets because it's used to strengthen concrete in buildings and infrastructure. The eight-year low in Shanghai highlights the demand struggle facing steelmakers due to a prolonged downturn in the country's property sector. The China Iron and Steel Association reiterated at a conference this week that controlling capacity expansion is a focus and had earlier said that Beijing is 'actively deploying and promoting' a crude steel production mandate. Rebar prices have dropped 11% so far this year, while iron ore is down about 6%. The bigger drop in prices of domestic steel compared with raw materials suggested that 'consolidation and rationalization in China are needed to boost prices', analysts at Bloomberg Intelligence wrote in a note. For iron ore, prices might ease toward $90 a ton by October on seasonal softness and rising supply, 'though cost support and policy easing could limit downside.' The ongoing annual Singapore International Ferrous Week is marked by a guarded outlook. Eric Bretting, head of ferrous trading at Macquarie Group, said that despite expectations of China rolling out more stimulus to counteract tariff pressures, it's unlikely such measures will come. Rebar contracts in Shanghai traded at around 2,955 yuan as of 11:43 a.m. local time. Iron ore futures in Singapore dropped for a fifth day to $96 a ton. There's also some 'nervousness' around iron ore supply from non-traditional regions next year, according to Joel Parsons, portfolio manager at Drakewood Capital Management. 'Even if you exclude geopolitical risk, there is risk technically,' in terms of supply coming online later or slower than previously anticipated, he said. This article was generated from an automated news agency feed without modifications to text.
