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Nomura Holdings said on Thursday it is reassessing its mainland China business, as losses mount at its Shanghai-based securities joint venture in another blow to the top Japanese investment bank's global expansion strategy.

Nomura Holdings' Q1 FY 2024 ROE was low at 2.9%, which is way below the company's FY 2025 ROE target at the 8%-10% level. NMR is valued by the market at an undemanding 0.55 times P/B, which is reasonable considering that the company has found it tough to achieve a higher ROE. I stick to my existing Hold rating for Nomura; I will only consider upgrading NMR's rating to a Buy if there are signs of a significant improvement in its ROE.

Nomura (NMR) is fined $35 million to settle fraud related to the trading of residential mortgage-backed securities.

Nomura Holdings, Inc. (NYSE:NMR ) Q1 2024 Earnings Conference Call August 1, 2023 5:30 AM ET Company Participants Takumi Kitamura - Chief Financial Officer Conference Call Participants Natsumu Tsujino - SMBC Morgan Stanley Securities Masao Muraki - SMBC Nikko Securities Kazuki Watanabe - Daiwa Securities Koichi Niwa - Citigroup Securities Operator Good day, everyone and welcome to today's Nomura Holdings First Quarter Operating Results for Fiscal Year Ending March 2024 Conference Call. Please be reminded that today's conference call is being recorded at the request of the hosting company.

Nomura's India Head of Investment Banking Utpal Oza has stepped down from the firm, sources with direct knowledge of the matter told Reuters.

Nomura Holdings, Inc. costs are not very under control, and losses in revenues, particularly unavoidable declines in IB, are hurting profits. Otherwise, the products you'd expect to continue to perform well did perform well. Speculative products and equity products. Better Japanese equity market conditions helped with gains in AM as well as activity for the retail segment.

Japanese investment bank Nomura has hired two investment bankers to lead its coverage of mobility and automotive clients in Europe and the United States through its sustainability-focused division Greentech.

Investment banking declines were limited as Japanese IPOs recovered a bit and Greentech deals contributed to more stabilised advisory performance. In global markets there was decent performance by fixed income products driven by macro.

Nomura Holdings, Inc. (NYSE:NMR ) Q3 2023 Earnings Conference Call February 1, 2023 4:30 AM ET Company Participants Takumi Kitamura - CFO Conference Call Participants Masao Muraki - SMBC Nikko Kazuki Watanabe - Daiwa Securities Natsumu Tsujino - Mitsubishi UFJ Morgan Stanley Futoshi Sasaki - Bank of America Securities Koichi Niwa - Citigroup Securities Operator Good day, everyone, and welcome to today's Nomura Holdings Third Quarter Operating Results for Fiscal Year Ending March 2023 Conference Call. Please be reminded that today's conference call is being recorded at the request of the hosting company.

Nomura's shares have underperformed its mid-tier investment bank peers YTD, highlighting its cost base and operating leverage. Management's efforts at cost reductions appear limited for now, and the outlook for market conditions looks muted for short to medium term.