Japanese investment bank Nomura announced the formation of a new business unit.
Nomura Holdings said its executive management board has agreed to establish a new business to extend the range of services the Tokyo based institution offers to its clients.
Under the new business, Nomura will primarily provide equity to clients as a solution for business reorganizations and revitalizations, business succession as well as management buyouts. The firm has not yet identified any specific investment targets it said in a press release.
From December 1, 2017, Nomura will establish the «Merchant Banking Preparation Office», which will be responsible for sourcing deals and working out the details of the new business.
Equity and other investments will be provided through a fund. In addition to the cost to set up the fund, Nomura plans to make an initial investment of approximately 100 billion yen in the new business.
