Japan's Nomura to cut $1 billion costs to revive wholesale business, shut branches [CNBC]
Nomura Holdings Inc ADR American Depositary Shares (NMR)
US:NYSE Investor Relations:
nomuraholdings.com/investor
Company Research
Source: CNBC
Japan's Nomura to cut $1 billion costs to revive wholesale business, shut branches Japan's Nomura Holdings said on Thursday it would cut $1 billion in costs from its wholesale business and shut more than 30 of 156 domestic retail branches, in its latest strategy overhaul to turn around its struggling business. The wholesale segment has been dragging on the performance of Japan's biggest brokerage and investment bank, and pushed it to its heaviest quarterly loss in nearly 10 years in the three months to December. Nomura then put the segment, which serves corporations and institutional investors, under review, as CEO Koji Nagai focused on reducing reliance on volatile global markets and building up stable revenue flows. The target of cutting $1 billion in costs will be achieved over "medium term", with 60 percent of it being completed by the end of the fiscal year to March 2020, Nomura co-COO Kentaro Okuda said in an investor day presentation. The cost reduction will result in $30
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NMR
Sec Filings
- 4/26/24 - Form 6-K
- 4/26/24 - Form 6-K
- 4/19/24 - Form 6-K
- NMR's page on the SEC website