In this quarterly strategy report, we look to evaluate where we are with regards the bull market conditions, and where those indicators might be headed, factoring in the downside risks, from Trump tariffs and the US economy, BoJ actions, Japanese earnings and valuations.
TOKYO--(BUSINESS WIRE)-- Nomura Holdings, Inc. filed its Annual Report on Form 20-F (for the fiscal year ended March 31, 2024) with the U.S. Securities and Exchange Commission on June 26, 2024. The report can be accessed via Nomura’s website at: Nomura Nomura is a global financial services group with an integrated network spanning approximately 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Wealth Management, Investment Management, and Wholesale (Global ...
TOKYO--(BUSINESS WIRE)-- Nomura Holdings, Inc. filed its Annual Report on Form 20-F (for the fiscal year ended March 31, 2023) with the U.S. Securities and Exchange Commission on June 28, 2023. The report can be accessed via Nomura’s website at: Nomura Nomura is a global financial services group with an integrated network spanning over 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Investment Management, and Wholesale (Global Markets and Investme...
TOKYO--(BUSINESS WIRE)-- Nomura Holdings, Inc. filed its Annual Report on Form 20-F (for the fiscal year ended March 31, 2022) with the U.S. Securities and Exchange Commission on June 24, 2022. The report can be accessed via Nomura’s website at: Nomura Nomura is a global financial services group with an integrated network spanning over 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Wholesale (Global Markets and Investment Banking), and Investment Ma...
NOMURA HOLDINGS INC (JP), a company active in the Investment Services industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date April 5, 2022, the closing price was JPY 518.60 and its ...
Although the Japanese economy, politics and stock market seem to be where they were this time last year, there is a seismic shift going on in the way the Japanese stock market behaves that could make investing in Japan in 2022 quite different to previous years. We look at how and why this shift has taken place and what it means for investing in Japan in the coming year.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
TOKYO--(BUSINESS WIRE)-- Nomura Holdings, Inc. filed its Annual Report on Form 20-F (for the fiscal year ended March 31, 2021) with the U.S. Securities and Exchange Commission on June 25, 2021. The report can be accessed via Nomura’s website at: Nomura Nomura is a global financial services group with an integrated network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Wholesale (Global Markets and Investment Banking), and Investment Management. Fo...
TOKYO--(BUSINESS WIRE)-- Nomura Holdings, Inc. (TOKYO:8604) filed its Annual Report on Form 20-F (for the fiscal year ended March 31, 2020) with the U.S. Securities and Exchange Commission on June 30, 2020. The report can be accessed via Nomura’s website at: Nomura Nomura is a global financial services group with an integrated network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its four business divisions: Retail, Asset Management, Wholesale (Global Markets and Investment Bankin...
EAFE > EM; Add exposure to Japan Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe developed international (EAFE) will remain in a leadership position relative to EM (MSCI EM). Below we highlight attractive and actionable themes within developed int'l: • Japan, Switzerland, Australia, Canada. Major Japanese indexes have been underperforming for nearly two years but are making bullish price and RS inflections and exhibit early signs of bottoming. Switzer...
TOKYO--(BUSINESS WIRE)-- Nomura Holdings, Inc. (TOKYO: 8604) filed its Annual Report on Form 20-F (for the fiscal year ended March 31, 2019) with the U.S. Securities and Exchange Commission on June 25, 2019. The report can be accessed via Nomura’s website at: Nomura Nomura is an Asia-headquartered financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its four business divisions: Retail, Asset Management, Wholesale (Global Markets ...
We adjust our fair value estimate for Nomura from JPY 543 to JPY 527 and from USD 5.00 to USD 4.70. We continue to value the firm at 0.70 times book value, based on assumed cost of equity of 8.5% and long-term ROE of around 6%. We have a no-moat rating on Nomura but believe its domestic retail and asset-management businesses are moaty. If Nomura were to pare back its overseas operations more radically and adopt a business model similar to that of smaller rival Daiwa Securities, we might consider...
We adjust our fair value estimate for Nomura from JPY 543 to JPY 527 and from USD 5.00 to USD 4.70. We continue to value the firm at 0.70 times book value, based on assumed cost of equity of 8.5% and long-term ROE of around 6%. We have a no-moat rating on Nomura but believe its domestic retail and asset-management businesses are moaty. If Nomura were to pare back its overseas operations more radically and adopt a business model similar to that of smaller rival Daiwa Securities, we might consider...
We adjust our fair value estimate for Nomura from JPY 543 to JPY 527 and from USD 5.00 to USD 4.70. We continue to value the firm at 0.70 times book value, based on assumed cost of equity of 8.5% and long-term ROE of around 6%. We have a no-moat rating on Nomura but believe its domestic retail and asset-management businesses are moaty. If Nomura were to pare back its overseas operations more radically and adopt a business model similar to that of smaller rival Daiwa Securities, we might consider...
We are tweaking our forecasts for Nomura in response to the cost-cutting measures it announced yesterday. We are lowering our pretax profit expectation for the current fiscal year ending March 2020 to JPY 131 billion from 205 billion to reflect one-time costs associated with employee departures and other structural changes, such as reducing the number of main corporate functions from 10 to five and replacing its complicated regional and segment matrix of reporting lines with a simpler global str...
We are tweaking our forecasts for Nomura in response to the cost-cutting measures it announced yesterday. We are lowering our pretax profit expectation for the current fiscal year ending March 2020 to JPY 131 billion from 205 billion to reflect one-time costs associated with employee departures and other structural changes, such as reducing the number of main corporate functions from 10 to five and replacing its complicated regional and segment matrix of reporting lines with a simpler global str...
Nomura reported its second consecutive quarterly loss, with red ink at the bottom line of JPY 95.1 billion wiping out more than 3% of the group's book value. This was driven by a JPY 81.4 billion goodwill write-down in the wholesale business, though the report included other items as well, such as a JPY 18.3 billion impairment charge on Nomura's stake in regional bank Mebuki Financial Group. In any case, we are sure that the market is now looking past the specifics of the awful results and towar...
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