Word: stockings
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Dates: during 1980-1989
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Nomura would not be so ambitious overseas were it not for its enormous strength at home. It offers a full roster of investment services, including underwriting, money management and research. Nomura handles nearly 17% of all stock trades in Japan; its nearest rival, Daiwa Securities, has a 12% share of the market. Nomura claims an equally commanding slice of the bond market, 19%, vs. 12% for Daiwa. Nomura and Daiwa, along with Nikko Securities and Yamaichi Securities, are known in Japan as the Big Four. Says a Nomura director, with a mix of arrogance and pride: "It's not really...
This year the firm introduced a contemporary equivalent: a computerized home investment service. Nomura customers who connect their home computer to their telephone can press a few keys and bring to the screen the latest listings of stock and bond prices and other information. With a few more taps, customers can signal their investment choices...
Critics say that at any given time, Nomura pushes a few particular stocks, which invariably rise in value. The problem is that Nomura's decision to boost a stock becomes a self-fulfilling prophecy. For that reason, Nomura is sometimes accused of manipulating the market...
...World War II, Nomura was the first Japanese securities company to return to New York with an independent office, which opened at 61 Broadway in 1953. Nomura was also the first Japanese firm to open a securities branch in China (1982) and to obtain a seat on the London Stock Exchange (1986). Between 1980 and 1987, Nomura more than doubled its work force abroad...
...Nomura's most popular offerings are Eurobonds sold with so-called equity warrants, which give the purchaser the right to buy shares in the company that issued the bonds for a period of time at a fixed price. Such bonds allow investors to make money in Tokyo's hot stock market. Nomura first gained a foothold in Eurobonds by charging fees that undercut those of its rivals...