Word: nomura
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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...
Wasserstein, Perella has already managed about $19 billion worth of mergers and acquisitions, including the $6.6 billion purchase of Federated Department Stores by Canadian Developer Robert Campeau. Teaming up with the U.S. firm, Nomura can gain expertise in merger making and help its Japanese clients acquire U.S. companies. For Wasserstein, Perella the deal provides both an infusion of capital and global connections. Says Perella: "No other single alliance could give us the comprehensive reach that the Japanese connection we have with Nomura could...
Like all other securities firms, Nomura has felt the sting of last October's Wall Street crash. For the six months ended last March, the company's profits nosedived to $713 million, a 23% decline from the same period a year earlier. But that was more than 300% higher than the 1985 figure, and Nomura continues to benefit from the unprecedented boom in the Tokyo stock market...