Nomura Holdings Inc ADR

NMR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$5.63	Bryt	Qvqgdsnyk

Nomura is Japan's Largest Independent Securities Firm

Michael Makdad

Nov 2, 2023

Business Strategy and Outlook

Nomura is Japan’s largest independent broker, with a market share of around 30% of client assets (stocks, bonds, funds, and so on) held in brokerage accounts in Japan, larger than the 18% held at rival Daiwa Securities and the 10%-17% shares at the securities units of the three megabanks. In investment trusts, Nomura’s market share of assets under management in publicly and privately placed funds was 18% as of mid-2023, roughly double the share of its largest rivals.

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