Bad news out of Japan including the resignation of Nomura’s CEO following an insider trading scandal and a sharp drop in profits at Nissan, investors should not shy away from Japan, Ed Rogers, chief executive officer at Rogers Investment Advisors K.K. told CNBC.
Rogers remains bullish on the prospects for Japan’s economy, and expressed confidence in the Japanese auto sector.
“We’ve already been through our lost decade and we’re still in great shape,” Rogers told CNBC.
Read the rest of the story: Don’t Let Nomura Scandal Taint Japan.
Japan’s top brokerage Nomura said Wednesday its operations in debt-hit Europe lost 20.94 billion yen ($275 million) in the quarter to December.
Despite global market turbulence, the group still reported an overall quarterly net profit of 17.82 billion yen, up 33 percent from 13.39 billion yen a year earlier.
The improvement was partly due to a one-time gain from the sale of its stake in restaurant chain Skylark Co, Nomura said.
Read the rest of the story: Japan’s Nomura loses $274 million in Europe.
The most senior foreign executive at Japanese bank Nomura has resigned, the company confirmed Wednesday, as the firm struggles to compete on the world stage.
Jasjit Bhattal, the head of Nomuras wholesale division, handed in his notice after being unable to galvanise support for a more radical shake-up of the banks global operations, the Wall Street Journal had reported.Nomura, in common with investment banks around the world, has struggled with yo-yoing stock and bond prices, poor merger prospects and tightening regulation in the wake of the global financial crisis.
Read the rest of the story: Most senior foreign exec quits Japans Nomura.
Nomura Holdings Inc. pulled ahead of Goldman Sachs Group Inc. to hold on to the top spot for mergers and acquisitions advisory work in Japan in 2011, after the two competed neck and neck during the last two months.
Nomura, the nation’s largest brokerage, this year advised companies on 134 transactions worth $65.4 billion, including Takeda Pharmaceutical Co.’s $13.7 billion acquisition of Swiss drugmaker Nycomed, data compiled by Bloomberg show. Goldman Sachs came in second after handling 24 deals worth $62.3 billion, according to the data.
Read the rest of the story: Nomura Narrowly Tops Goldman in Japan Merger Advice in 2011.