Nomura
Nomura Holdings, Inc.
Nomura Holdings is the Tokyo-based parent of the Nomura Group, Japan's largest investment bank and brokerage group, and is listed in Tokyo and on the NYSE. Its equity research is strongest in Japan, where it ranked No. 1 in Extel's 2026 All-Japan Research Team survey.
Company history
Nomura Securities was established in Osaka on December 25, 1925 as a spin-off of Osaka Nomura Bank's securities department, opened a New York office in 1927 and listed its shares in 1961. It reorganized under the holding company Nomura Holdings in October 2001 and listed ADRs on the NYSE that December. Nomura acquired agency broker Instinet in 2007 and Lehman Brothers' Asia-Pacific and EMEA operations in 2008.
- 1925Nomura Securities established in Osaka
- 1927Opens New York office
- 2001Holding company structure adopted; ADRs listed on NYSE
- 2007Acquires agency broker Instinet
- 2008Acquires Lehman Brothers' Asia-Pacific and EMEA operations
- 2020Closes U.S. equity research; forms alliance with Wolfe Research
Research
Nomura closed European equity research in 2016 and its U.S. equity research unit in 2020, when it formed a strategic alliance giving its U.S. clients access to Wolfe Research. Its equity research now centers on Japan and Asia ex-Japan. It topped Extel's 2026 All-Japan survey with placings in 28 of 32 sectors. Stocks are rated Buy, Neutral or Reduce relative to a stock-specific benchmark over the next 12 months.
Coverage12M
- Stocks
- 20
- Ratings
- 16
- Price targets
- 12
- Median upside
- +18.9%
- Upgrades
- 9
- Downgrades
- 6
- Initiations
- 0
- Reiterations
- 1
- Targets raised
- 0
- Targets cut
- 3
- Positive50%6
- Neutral42%5
- Negative8%1
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 SWSmurfit Westrock Plc | Neutral | $170 |
| CICIZN | — | $12 |
| JPJP | Buy | — |
 KCKingsoft Cloud Holdings Limited | Buy | $18.30 |
| KSKS | Buy | — |
 NMRNomura Holdings, Inc. | Buy | $10.20 |
 PDDPDD Holdings Inc. | Neutral | $136 |
 TTTrane Technologies plc | Buy | — |
 VIPSVipshop Holdings Limited | Neutral | $14 |
 ASAmer Sports, Inc. | — | $39.80 |
Analysts24M
- Rachel GuoTME · YMM2
- Bing DuanKC1
- Natsumu TsujinoNMR1
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
| MGMGHL | Downgrade | Reduce | Sep 21 | |
| Trane Technologies plcTT | Upgrade | Buy | Sep 16 | |
| Smurfit Westrock PlcSW | Downgrade | Neutral | Sep 7 | |
 Deere & CompanyDE | Upgrade | Buy | Aug 31 | |
| CICIZN | Target | $28 →$12 | Aug 28 | |
| JPJP | Upgrade | Neutral →Buy | Aug 28 | |
| Vipshop Holdings LimitedVIPS | Downgrade | Buy →Neutral | $15 →$14 | Aug 27 |
| KSKS | Reiterate | Buy | Aug 24 | |
 AngloGold Ashanti PlcAU | Upgrade | Buy | Aug 21 | |
| CICIZN | Target | $28 | Aug 14 | |
| LTLTC Properties, Inc.LTC | Upgrade | Neutral | Aug 14 |
Similar coverage12M
References
- Our Milestones - Nomura Holdingsnomuraholdings.com
- Nomura Holdings - Wikipediaen.wikipedia.org
- Equity Research Analyst Hiring / Firing: Piper Sandler & Nomura - Integrity Research (2020)integrity-research.com
- Nomura Tops Extel's 2026 All-Japan Research Rankingsnomuraholdings.com
- Nomura research report with equity rating system definitionsnomura.com
- Executive Officers - Nomura Holdingsnomuraholdings.com