Word: nomura
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Dates: during 1980-1989
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Many analysts expect the Nikkei index to break the 30,000-yen barrier sometime this year. Says Hideo Nakazawa, general manager of Nomura's equity department: "We may hit some bumps, but the direction is up." Yet even Tokyo is unlikely to disprove the adage so often cited by bears in markets the world over: "No tree grows...
...outside, nothing distinguishes the building from other office blocks in the Japanese capital. Inside, employees toil elbow to elbow in open work areas illuminated by fluorescent lights, and the air is heavy with cigarette smoke. Yet the modest facade masks the nerve center of a powerful financial empire: Nomura Securities, the largest, richest and most profitable securities firm on earth...
With Japan riding high as a premier economic power, no company stands a better chance of dominating global finance than Nomura. The company, building on a powerful domestic base, is a behemoth. Its assets ($372 billion) surpass those of Citicorp ($204 billion) and Merrill Lynch ($55 billion) combined. Nomura's 1987 profits ($2 billion) were almost four times those of American Express. And as Japan converts manufacturing muscle into financial might, the securities giant has passed Toyota (1987 earnings: $1.7 billion) to become the country's most profitable company. No wonder Nomura sparks respect in its competitors, inspires hard work...
Today, with 38 offices in 21 countries, Nomura is increasingly showing its muscle on foreign ground. Six years after establishing a full-fledged subsidiary in London, it ranks No. 1 in the Eurobond market, having overtaken the likes of Deutsche Bank and Credit Suisse First Boston. Nomura controls investment or commercial banks in Britain, Australia, Switzerland, Singapore and Bahrain. In the U.S. it is a major dealer in Treasury issues and holds a seat on the New York Stock Exchange. In The Second Wave: Japan's Global Assault on Financial Services, Authors Richard W. Wright and Gunther A. Pauli...
...Nomura took a giant step toward realizing that goal last week, stunning Wall Street with a move to become a major player in the U.S. mergers-and- acquisitions game. The company said it was paying $100 million for 20% of the hot, new Manhattan investment firm started six months ago by Bruce Wasserstein and Joseph Perella, the Wall Street wizards who built First Boston's merger department into one of the best in the business and then left to strike out on their...