Japan’s Nomura to reduce risk assets for wholesale business

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The logo of Nomura Securities is seen at the company’s headquarters in Tokyo, Japan on November 28, 2016. REUTERS/Toru Hanai/File Photo Get license rights

TOKYO, Nov 29 (Reuters) – Nomura Holdings (8604.T) Japan’s top investment bank said on Wednesday it would reduce assets exposed to the risk of wholesale trade by up to 6 percent as it seeks to boost its capital adequacy.

Nomura plans to reallocate resources across the group by adjusting the size of positions in overseas macro products and shifting resources to Japan-related businesses, Chief Executive Officer Kentaro Okuda told investors on Wednesday.

The Bank of Japan plans to cut an additional $100 million in costs to its wholesale division, which will reduce total costs to $5.1 billion by March 2025, Okuda said.

Reporting by Makiko Yamazaki; Editing by Simon Cameron-Moore

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