Nomura Holdings Inc.; Nomura Securities Co. Ltd. Mar 11

Standard & Poors, March 2011

Abstract
Dominant position in the Japanese securities market Adequate capitalization Profitability susceptible to market conditions Nomura Holdings Inc. (Nomura; BBB+/Stable/A-2) is Japan's largest securities group, with total assets of -34 trillion as of Sept. 30, 2010, and includes core subsidiary Nomura Securities Co. Ltd. (A-/Stable/A-2). The company maintains a solid business franchise in its retail and wholesale business lines, supported by its strong brand and marketing capabilities. Nomura is consistently one of the top companies in Japan in wholesale securities brokerage, underwriting, and advisory. It has a particularly strong track record in equity underwriting. Group subsidiary Nomura Asset Management Co. Ltd. (NR) held customer assets worth -23 trillion as of Sept. 30, 2010, which is the largest amount among domestic asset...

Companies mentioned in this report are: Nomura Holdings Inc.,Nomura Securities Co. Ltd.,Nomura Bank International PLC,Nomura Trust & Banking Co. Ltd.,Nomura Derivative Products Inc.
Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

Nomura Holdings Inc.,Nomura Securities Co. Ltd.,Nomura Bank International PLC,Nomura Trust & Banking Co. Ltd.,Nomura Derivative Products Inc.

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