Nomura, trying to regain its lost dominance in advising on Japanese mergers and acquisitions, is facing tough competition from bigger rivals and some bad luck.
Bloomberg News reports that Nomura’s largest M&A assignment of the year suddenly became the biggest takeover canceled in Japan this decade when Yahoo decided this month to scrap its $3.2bn purchase of eAccess Ltd. from SoftBank.
That pushed Nomura, which advised SoftBank, to fifth place among Japan M&A advisers from fourth, data compiled by Bloomberg show.
Japan’s biggest securities firm hasn’t held the top spot since 2011, missing out on the largest takeovers to banks including Mitsubishi UFJ Financial Group, Morgan Stanley and Goldman Sachs. Nomura plans to hire U.S. bankers to bolster its overseas capabilities and recoup its share of the advisory market, an area that builds ties to companies and can lead to business such as stock and bond underwriting.
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