TOKYO —

Japan’s biggest brokerage, Nomura Holdings Inc, said Thursday it will raise up to 510 billion yen next month from selling new shares to augment its capital and improve business abroad.
 
Nomura said it is offering 400 million shares overseas, targeting mainly European investors, and another 370 million shares of common stock at home, with an overallotment option of about 34 million shares. The price will be set between Oct 5 and 7, the Tokyo-based brokerage said.
 
The capital infusion is aimed at “strengthening our business foundation in the U.S. as well as Asia, which includes Japan, and Europe,” Nomura said in a statement. “We believe that reinforcement and allocation of capital into profitable and growing operations would contribute to improve our future growth and profitability.”
 
Nomura posted a group net profit of 11.4 billion yen in the April-June quarter, in a turnaround after the costs of acquiring Lehman Brothers led to a record loss last year.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

› Login to comment

2 Comments

• 

  neganip at 07:33 AM JST - 25th September

  Double or nothing bet.

• 

  ironchef at 06:32 PM JST - 25th September

  Nomura will be the Japanese equivalent of Lehman..bankrupt in a few years. This company has no clue how to run a business.

Register or Login to leave a comment