Business / Companies

Nomura to set up JV in Shanghai FTZ

By Wei Tian ( Updated: 2014-05-19 15:22

Nomura Holdings Inc said on Monday that it will establish a joint venture in the China (Shanghai) Pilot Free Trade Zone in cooperation with three Chinese companies.

The new JV, Shanghai Nomura Lujiazui Investment Management Co, will be a consolidated subsidiary of Nomura Holdings with a registered capital of 30 million yuan ($4.8 million), the Japanese financial service group said in an online statement.

Nomura will hold 60 percent share in the company, while Shanghai Lujiazui Financial Holdings Co, the second-largest shareholder, will have 20 percent stake, according to an agreement signed on Sunday. Lujiazui International Trust and Shanghai Jiu You Equity Investment Fund Management will hold 10 percent each.

By leveraging the joint venture to provide information on financial markets and products to financial institutions located in the Shanghai FTZ, Nomura aims to enhance its presence in the China onshore market and act as a gatekeeper for offshore products, according to the statement.

"Nomura aims to tap into the high growth potential of the China market by exploring business opportunities that arise as the country’s personal financial assets increase."

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