Nomura Top M & A League

Japanese M & A activity only fell 2.5% during the first quarter compared with last year - in sharp contrast to the 45.2% fall experienced by the rest of the world. However, the Japanese economy has been in decline for several years. Last year broke no records.

Japan's largest securities house enjoyed a 50.9% share of M & A deals in Japan in the period. They topped the list, advising on deals worth $8.95bn. Citigroup came in second, advising on deals worth $4.20bn. Morgan Stanley were third with deals worth $3.56bn. Goldman Sachs, who were top this time last year, were not ranked in the top 10.

Nomura also had a 33.5% chart topping share of equity and equity-related capital market transactions in terms of value during the first quarter. They completed 19 transactions worth $1.22bn.