INTERVIEW: Nomura Holdings to Cut Branches by 20 Pct within 3 Yrs

Economy

Tokyo, April 22 (Jiji Press)--Nomura Holdings Inc. <8604> plans to reduce its number of branch offices in Japan by 20 pct within three years, Koji Nagai, president and group chief executive officer, has said.

The brokerage giant will accelerate efforts to boost its profit capacity by consolidating branches mainly in Tokyo and the western Japan city of Osaka, while keeping at least one outlet in every prefecture, Nagai indicated in a recent interview.

Nomura Holdings has announced plans to close 30 or more of the 156 domestic outlets of Nomura Securities Co., the core unit of the holding company.

"There is no point in maintaining the outdated branch network at a time when the number of customers visits to our offices is falling due to digitization," Nagai said.

"We can't wait three years" until the branch closure plan is completed, he stressed. "We have to do it quickly."

[Copyright The Jiji Press, Ltd.]

Jiji Press