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Industries
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Updated: 2004-02-09 10:27:20
Nomura Holdings Inc, Japan's biggest investment bank, said it aims to increase its domestic mergers business by almost 50 percent this year, and help the nation's companies expand in China to boost its Asia ranking.
Nomura, which advised such companies as Matsushita Electric Industrial Co and Konica Corp last year on Japanese mergers, is betting its clients will need advice on investments in China and other parts of Asia.
"Nomura cannot ignore China," said Yoji Takeda, who helps manage the equivalent of US$250 million in Japanese equities at RBC Investment Management (Asia) Ltd in Hong Kong. "China offers Nomura growth potential, as Japanese automakers and others like Matsushita expand there."
In June, Nomura bought China International Trust & Investment Corp's stake in a China venture to gain full control of its advisory business in the nation. Nomura estimates that the number of merger transactions on the Chinese mainland, Taiwan and Hong Kong involving Japanese companies tripled in the past two years to 40, including acquisitions by NEC Corp, Matsushita Electric and Asahi Glass Co.
"We would like to take advantage of our connections in Japan as a way of spreading our business in China," Nomura's Matsutani said. "Our goal is to become the number one advisory firm in Asia in a couple of years, as a step towards being a global player."
"Nomura needs to build its relationships with Chinese officials to overcome obstacles and win business," Takeda said.
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