Word: nomura
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...victors in Nomura's internal competition go big rewards. A 35-year- old salesman may earn $90,000 a year, a slightly older branch manager $110,000. Those amounts may seem puny by Wall Street standards, but they are princely sums in Japan, where in most firms only high-ranking executives earn more than $70,000 a year. Unlike many Japanese companies, Nomura does not promote employees solely on the basis of seniority. If a young salesman or trader shows unusual dedication, he can move rapidly to a managerial post. Says a competitor: "For many people, it is painful...
...most Japanese firms, opportunities for women are limited: most rise no higher than clerk. Last year Nomura finally introduced a modest program that offers women a career path toward management, but so far, only 13 have been tapped. Many female employees wind up marrying a Nomura colleague. Says a male employee: "The good thing is, if you marry within the company, the wife doesn't complain that you come home late. An outsider couldn't understand...
...Nomura and Japan's other giant securities firms have harvested huge profits from a bull market that has raged on the trading floor of the Tokyo Stock Exchange for six years. The Japanese call it the age soba, or rising market, ascent has been dizzying: the 225-stock Nikkei index -- Japan's equivalent Dow Jones industrial average -- has surged 400% in value since beginning its bullish burst. The $3.5 trillion now invested in the Tokyo market makes it world's largest. Even the devastation wrought by last October's global stock only temporarily dampened the spirits of Tokyo traders. Although...
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...