Japan's Nomura still betting on global expansion to lift pro

Japan's Nomura still betting on global expansion to lift profit, despite Archegos hit
Reuters
1 hr ago
By Makiko Yamazaki
© Reuters/Toru Hanai
FILE PHOTO: Nomura Securities trading floor is pictured at the company's Otemachi Head Office in Tokyo
By Makiko Yamazaki
TOKYO (Reuters) - Nomura Holdings Inc raised its pretax income target for the next fiscal year by 14%, showing the long-cherished ambitions of Japan's top brokerage and investment bank to join the global elite remain undimmed, despite sustaining a near $3 billion hit from the collapse of U.S. investment fund Archegos.
Setting out guidance in a mid-term presentation, Nomura on Wednesday said it was basing its raised target on a strategy of developing its footprint in global private markets, taking in business with unlisted companies, like private equity funds, as well as services for wealthier private clients.

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