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More decoupling afoot? Nomura reduces its China business
来源：shippingazette 编辑：编辑部 发布：2023/11/03 11:06:42
NOMURA Holdings is reducing its China business after losses increased, reflecting setbacks to plans by Japan's biggest brokerage to expand on the mainland, reports Bloomberg.
The firm's Shanghai-based joint venture is reassessing its strategy, according to people familiar with the matter. Goals unveiled four years ago to raise its headcount to 500 and become a fully licensed securities house by the end of 2023 aren't likely to be achieved.
Nomura Orient International Securities has cut jobs and seen a number of departures following a management reshuffle earlier this year, say informed sources.
The venture, which was launched before the Covid scare, has since had to contend with China's slowing economy and a stumbling stock market.
The firm's Shanghai-based joint venture is reassessing its strategy, according to people familiar with the matter. Goals unveiled four years ago to raise its headcount to 500 and become a fully licensed securities house by the end of 2023 aren't likely to be achieved.
Nomura Orient International Securities has cut jobs and seen a number of departures following a management reshuffle earlier this year, say informed sources.
The venture, which was launched before the Covid scare, has since had to contend with China's slowing economy and a stumbling stock market.