Nomura JV exploits opening-up, further taps financial services

Japanese financial firm Nomura Securities Co Ltd is preparing to launch business operations of its joint venture in China soon and is eyeing new opportunities as the country pushes further financial liberalization.

The newly established joint venture of the Japanese brokerage in China will initially focus on the wealth management business and will gradually expand into other areas, including initial public offering underwriting, equity and fixed-income business, mergers and acquisitions, and asset management, according to Toshiyasu Iiyama, executive vice-president of Nomura Securities and chairman of its China committee.

"We will start everything from the scratch," Iiyama said in a recent interview with China Daily. "China's opening of the financial sector makes us more confident about what we can do in China and what we can contribute to this market.