Nomura Holdings to Reduce Outlets in Japan by 20 Pct

Economy

Tokyo, April 4 (Jiji Press)--Japanese brokerage giant Nomura Holdings Inc. <8604> said Thursday it will reduce the number of its sales outlets in Japan by at least 30, or 20 pct, as part of structural reform measures.

Nomura will mainly consolidate outlets in the Tokyo metropolitan region whose sales areas overlap.

The company aims to restore its earning power by reviewing its cost structure.

The brokerage industry faces a rapid change in the domestic business environment due to the aging of customer populations and digital technology development.

Nomura hopes to improve the efficiency of outlets located close to each other and sales bases hit by a decrease in customer visits due chiefly to the popularity of online trading and other services.

[Copyright The Jiji Press, Ltd.]

Jiji Press