Nomura, ICBC enters JV agreement for Chinese market


Japan’s largest investment bank, Nomura Holdings, Inc., today announced that it has signed a memorandum of understanding with the Industrial and Commercial Bank of China Limited (ICBC) to explore a business alliance.

Under the MOU, Nomura will consider collaborating with ICBC to provide financial services to further expand its businesses in the Chinese market, which is expected to grow over the medium to long term.

The comopany said the impact on Nomura Holdings’ consolidated performance is expected to be minimal.

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