Following the renewal of smooth diplomatic relations between China and Japan, the latter’s largest investment bank, Nomura Holdings will now operate in China.
The company said in a statement that:
“It applied to the China Securities Regulatory Commission (CSRC) on May 8 to establish a joint venture securities firm.
Nomura intends to make detailed preparations for the securities company subject to discussions
with the CSRC and other relevant parties.
The new company will first focus on leveraging Nomura’s expertise in face-to-face consulting to provide wealth management services to mass affluent individuals in China.
Nomura plans to then develop its product distribution channels and expand into Wholesale and other business segments, with the ultimate goal of growing the business into a full-fledged brokerage that will form a core part of the firm’s strategy in Asia ex-Japan,” the statement said.
Nomura disclosed that as at March 2018, it has about $493 billion asset under management.