Japan’s Nomura to close China branch

Japan’s Nomura plans to close its Zhejiang branch in mainland China by the end of 2025, Bloomberg reported, citing unnamed sources. The move comes just a few years after the branch opened in late 2021 and marks a shift in Nomura’s China strategy, focusing less on wealth management and more on brokerage and asset management. The Zhejiang outlet is one of four Nomura branches in China, alongside Shanghai, Beijing, and Shenzhen. Nomura’s joint venture, Nomura Orient International Securities, has recorded annual losses since its 2019 launch, though 2024 losses narrowed 30% to CNY128.7m.