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Nomura’s China joint venture to start business within the year

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Nomura Securities said it’s scheduled to launch the China joint venture within the year with the business focus on wealth management.

China Securities Regulatory Commission announced on March 29 that it had approved JPMorgan and Nomura to set up respective securities joint ventures in the country, in which each will hold a 51 per cent stake.

Nomura’s joint venture will be registered in Shanghai and in the initial period, the main business will be wealth management, said Toshiyasu Iiyama, executive chairman for Asia ex-Japan and head of China committee at Nomura Holdings.

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