'We have a very positive view on our pipeline as the stock market and Japan as a whole are doing well', Chief Financial Officer Junko Nakagawa said in Tokyo Thursday after the company posted third-quarter profit that missed estimates as investment banking fees fell. 'We want to help Japanese corporates as their business opportunities improve'.
Bloomberg reports that investment banking has been a weak link amid a revival in profit growth at Nomura after it lost some business managing bond and equity sales following last year’s insider-trading scandal. The stock rebound, fueled by Prime Minister Shinzo Abe’s efforts to stimulate the world’s third-largest economy, may encourage companies to sell shares and make acquisitions.
'Business opportunities for Nomura will grow as it has a competitive sales force and branch franchise', said Takehito Yamanaka, an analyst at Credit Suisse Group AG in Tokyo. 'We’ll see more IPOs and share sales and individual investors will take more risks and buy mutual funds'.
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