News Column

Nomura Holdings to set up joint venture in Shanghai free trade zone

May 18, 2014

Nomura Holdings Inc. said Monday it will establish a joint venture in a free trade zone in Shanghai with a local state-owned finance group to provide information on financial markets and products.

Nomura will set up Shanghai Nomura Lujiazui Investment Management Co. by the end of the month with Shanghai Lujiazui Financial Holdings Co. and its two other group firms to serve financial institutions operating in the pilot free trade zone.

Nomura, Japan's biggest broker, is looking to China's high growth potential and hoping to attract affluent local customers as personal financial assets increase in Asia's biggest economy.

The Japanese brokerage firm will take a 60 percent stake in the venture with the rest to be held by the Chinese group. The new company will have capital of 30 million yuan (about $4.8 million).

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Source: Japan Economic Newswire

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