Nomura CEO vows to stay independent, cut costs

Nomura Holdings Inc said

TOKYO: Nomura Holdings Inc’s chief executive vowed to keep Japan’s biggest brokerage independent and quickly implement his latest turnaround plan as a slumping share price puts the question of a potential merger in focus.

“We cherish the strengths and utility that we have through our independence as a Japanese financial group,” CEO Koji Nagai said in an interview in Tokyo yesterday. “It’s not going to happen that we’ll become part of a financial company elsewhere. We’re not thinking about such a thing.”