INTERVIEW: Nomura to Maintain Nonurban Branch Network

Economy

Tokyo, Dec. 31 (Jiji Press)--Nomura Holdings Inc. <8604> plans to maintain its branch network in nonurban areas in order to boost revenue from sales operations for individual customers, Koji Nagai, group chief executive officer of Nomura, has said.

The major brokerage group hopes to be better prepared to meet strong demand for services related to inheritance and business succession in smaller cities, Nagai said in a recent interview.

At the same time, Nomura plans to streamline its branch networks in metropolitan areas centering on Tokyo, Osaka and other big cities, according to Nagai.

The growth of commission revenue from sales to individual customers has slowed down, while related costs have remained high. Nomura has announced its aim of cutting costs by some 10 pct, or about 30 billion yen, over the coming three years.

"We'll promote streamlining of branch offices (in the metropolitan areas) that have only a small number of customer visits or are located close to other branches," Nagai said.

[Copyright The Jiji Press, Ltd.]

Jiji Press