Latest news with #Okuda
Asahi Shimbun
08-07-2025
- Politics
- Asahi Shimbun
Emperor checks out water issues, his passion, on trip to Mongolia
ULAN BATOR—Emperor Naruhito, who has made water-related research his life's work, visited facilities that supply water for Mongolia's capital, which is facing serious water shortages and pollution as its population swells. At times donning a helmet, the emperor inspected facilities in Ulan Bator's Gachuurt district that draws groundwater from the Tuul River on July 7. He also visited the Water Supply and Sewerage Authority of Ulaanbaatar City, which provides the water supply and sewerage services in the capital. Naruhito and Empress Masako are on an official visit to Mongolia from July 6 to 13. He is the first emperor to travel to the East Asian country. At a news conference prior to the trip, Naruhito said he wanted to deepen his understanding of Mongolia by learning more about the country's water-related issues. 'Knowing the water-related problems of different countries leads to better understanding the society and culture of each of them,' he said at the time. The visits to the Gachuurt water source facilities and the water supply and sewerage authority were arranged partly in line with Naruhito's wishes. As of 2024, Ulan Bator was home to about 1.77 million people, half of the country's population. Facilities have been built in Gachuurt and elsewhere to draw groundwater from the Tuul River, which flows through the city, to ease the water shortage caused by the boom in population. Shinichi Okuda, a professor of law at Takushoku University who is familiar with the water situation in Mongolia, said new water sources will be necessary for Ulan Bator because the population is projected to keep increasing. Okuda is particularly concerned about 'ger districts' on the outskirts of Ulan Bator. Large numbers of nomads who lost their livestock to snow damage have settled in these areas, but the water and sewage infrastructure is underdeveloped. Children often have to travel long distances to get water from the few available wells. Shady figures have claimed control over well water and charge usage fees from residents. Contagious diseases have also spread as groundwater has been contaminated by sewage. 'Issues of water and poverty have been closely linked with each other,' Okuda said. Naruhito developed an interest in water-related issues after learning about children suffering from water shortages in other countries. Hideaki Oda, who advised Naruhito on his research in the field, remembers him showing a photograph of children carrying pots and waiting for their turns at a watering spot in Pokhara, Nepal, when he was crown prince. Naruhito said he took the photo with his own camera in March 1987 because he was distressed by the plight of children traveling long distances to collect water there. 'Water-related issues can lead to international conflicts, disasters and poverty,' Oda said. 'The emperor is intensely interested in how to share limited water resources.'
Business Times
23-06-2025
- Business
- Business Times
Nomura CEO's pay more than doubles after profit hits record
[TOKYO] Nomura Holdings more than doubled Kentaro Okuda's pay last year, rewarding the chief executive officer for guiding Japan's largest brokerage to a record annual profit. Okuda's compensation rose to 1.208 billion yen (S$11 million) in the year ended Mar 31 from 506 million yen a year earlier, according to a filing on Monday (Jun 23). Christopher Willcox, the firm's highest-paid executive officer, who oversees trading and investment banking, saw his remuneration jump 25 per cent to US$15 million. Nomura's profit hit an all-time high last fiscal year as the return of inflation to Asia's second-largest economy energised investors. Pretax income at Willcox's wholesale division hit a 15-year high as global securities trading rebounded and cost controls improved. Dealmaking got a boost from Japan's corporate governance overhaul. The Japanese firm was in the spotlight last year after a staffer was found to have manipulated the bond market and a former Nomura worker was charged with robbery and attempted murder. Okuda and other executives volunteered to return a portion of their pay for several months following the incidents. Willcox did not take a pay cut because he joined Nomura after the bond derivatives trades took place. 'The Compensation Committee makes decisions based on the overall performance of the group as well as individual achievements and contributions,' a spokesperson said by email. Okuda's compensation compares with 398 million yen paid last fiscal year to Akihiko Ogino, CEO of Daiwa Securities Group, Nomura's biggest domestic rival, filings show. Ogino's remuneration was the highest for a Daiwa CEO since at least fiscal 2004. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The once-a-year filing offers a rare peek into some of Nomura's inner workings, including manpower at each of its main business lines in Japan. The number of employees at the firm's cash-cow domestic wealth management division fell by 283 people to 7,045, the lowest in 18 years. It slipped for the seventh consecutive year even though Go Sugiyama, who runs that business, declared an end to an era of staff reduction and signalled a desire to hire mid-career talent. Nomura's so-called alumni network membership grew, with the number of registrants reaching around 290, compared with about 250 a year earlier. The company established the network in January 2023 to stay connected and regularly re-engage former employees who once belonged to its investment banking or asset management teams. The report came a day before Nomura's planned annual shareholder meeting in Tokyo. Proxy adviser Institutional Shareholder Services has recommended stockholders vote against the reappointment of Okuda and the company's chairman Koji Nagai in light of the scandals. BLOOMBERG
Business Times
23-05-2025
- Business
- Business Times
Nomura raises top executives' pay to highest in over a decade
NOMURA Holdings increased pay for its top executives to the highest in more than a decade, as Japan's biggest brokerage posted a record annual profit on the back of the nation's retail investment boom. Compensation paid in the year ended March to the company's seven executive officers totaled 4.6 billion yen (S$41.3 million), up 3 per cent from the previous year when there were eight such officers, according to a notice for a planned annual shareholders meeting next month. On average their pay rose 18 per cent. Chief executive officer Kentaro Okuda is among the executive officers along with Christopher Willcox, who oversees investment banking and securities trading. The raise came even after some executives including Okuda took voluntary pay cuts for a pair of scandals that surfaced in the period. The Tokyo-based firm earned a record 340.7 billion yen profit last fiscal year as the return of inflation to Asia's second-largest economy energised investors. Pretax income at Willcox's wholesale division hit a 15-year high as global securities trading rebounded and cost controls improved. Dealmaking got a boost from Japan's corporate governance overhaul. Cash bonuses for the executive officers rose 88 per cent to 2.3 billion yen, while base salaries grew slightly to 607 million yen. Compensation includes stock awards as well. Nomura is in expansion mode, having recently clinched a deal to buy Macquarie Group's US and European public asset management business. The brokerage is also weighing a return to offering cash prime-brokerage services in the US and Europe - businesses it largely exited four years ago when it lost US$2.9 billion tied to the collapse of Archegos Capital Management. Last year's results were blemished by revelations of bond market manipulation and charges of attempted murder against a former employee. CEO Okuda and other executives volunteered to return a portion of their pay for several months following the incidents. BLOOMBERG
&w=3840&q=100)
Business Standard
22-04-2025
- Business
- Business Standard
Nomura to buy Macquarie's US, European asset management units for $1.8 bn
The Japanese company has had a troubled history in its attempts to expand overseas, including the acquisition of assets from the collapsed Lehman Brothers in 2008 which it later wrote down Reuters Washington Nomura is acquiring Macquarie Group's US and European public asset management businesses for $1.8 billion, marking the Japanese investment bank's most ambitious expansion abroad since its failed purchase of Lehman Brothers' assets. Japan's largest investment bank and brokerage will take over the management of the publicly traded assets, the companies said on Tuesday. It will also take over the investment teams and operating platforms relating to the businesses, and retain the existing management team. The Japanese company has had a troubled history in its attempts to expand overseas, including the acquisition of assets from the collapsed Lehman Brothers in 2008 which it later wrote down. But the Macquarie assets deal, which Nomura said is its largest acquisition ever, comes as companies in Japan face a shrinking domestic market and are increasingly seeking growth opportunities abroad. Asset management has become a core growth area for Japanese financial institutions looking to secure stable fee-based revenue that is less impacted by the ups and downs of market sentiment. "The market now is very unstable but the biggest factor in our mid to long term plan is to have a robust investment management platform," Nomura CEO Kentaro Okuda told a press conference. "This transaction had a very prudent due diligence process and should be durable against the volatility of the market," Okuda added. The announcement of tariffs by US President Donald Trump may lead to a rebalancing of sectors which would provide opportunities for active investment managers, Nomura's head of investment management, Yoshihiro Namura, told the briefing. The deal is expected to close by the end of 2025 and will be settled entirely by cash with no financing directly related to the transaction planned, Okuda said. Nomura's previous investments include buying boutique investment bank Greentech Capital Advisors in 2019 and acquiring a 41 per cent stake in investment management firm American Century Investments for over $1 billion in 2016. Upon the deal's completion, Nomura's total assets under management within its investment management franchise are expected to increase to around $770 billion from approximately $590 billion currently, Nomura said. Nomura's shares climbed 0.6 per cent on Tuesday morning while the benchmark Nikkei index was roughly flat. Macquarie shares rose around 1.5 per cent. Macquarie Group, Australia's biggest investment bank by assets, will retain its public investments business in its domestic market, where it plans to continue operating an asset management business spanning both public and private markets. The Australian financial conglomerate said that, as part of the deal, it would collaborate with Nomura on product and distribution. Macquarie has been strategically reshaping its North American operations, having already withdrawn from several debt market segments. It is shuttering its US debt capital markets division, according to multiple media reports in February, pivoting instead to its private credit business, which has already deployed over A$22.5 billion in loans. "Overall, the transaction sharpens the focus of Macquarie Asset Management back to its competitive strengths - private markets and its home market of Australia," Citi analyst Thomas Strong wrote in a report.
The Standard
22-04-2025
- Business
- The Standard
Nomura to buy Macquarie's US, European asset management units for US$1.8 billion
Nomura is acquiring Macquarie Group's US and European public asset management businesses for US$1.8 billion (HK$14.04 billion), marking the Japanese investment bank's most ambitious expansion abroad since its failed purchase of Lehman Brothers' assets. Japan's largest investment bank and brokerage will take over the management of the publicly traded assets, the companies said on Tuesday. It will also take over the investment teams and operating platforms relating to the businesses, and retain the existing management team. The Japanese company has had a troubled history in its attempts to expand overseas, including the acquisition of assets from the collapsed Lehman Brothers in 2008 which it later wrote down. But the Macquarie assets deal, which Nomura said is its largest acquisition ever, comes as companies in Japan face a shrinking domestic market and are increasingly seeking growth opportunities abroad. Asset management has become a core growth area for Japanese financial institutions looking to secure stable fee-based revenue that is less impacted by the ups and downs of market sentiment. "The market now is very unstable but the biggest factor in our mid to long term plan is to have a robust investment management platform," Nomura chief executive Kentaro Okuda told a press conference. "This transaction had a very prudent due diligence process and should be durable against the volatility of the market," Okuda added. The announcement of tariffs by US President Donald Trump may lead to a rebalancing of sectors which would provide opportunities for active investment managers, Nomura's head of investment management, Yoshihiro Namura, told the briefing. The deal is expected to close by the end of 2025 and will be settled entirely by cash with no financing directly related to the transaction planned, Okuda said. Nomura's previous investments include buying boutique investment bank Greentech Capital Advisors in 2019 and acquiring a 41 percent stake in investment management firm American Century Investments for over US$1 billion in 2016. Upon the deal's completion, Nomura's total assets under management within its investment management franchise are expected to increase to around US$770 billion from approximately US$590 billion currently, Nomura said. Nomura's shares climbed 0.6 percent on Tuesday morning while the benchmark Nikkei index was roughly flat. Macquarie shares rose around 1.5 percent. Macquarie Group, Australia's biggest investment bank by assets, will retain its public investments business in its domestic market, where it plans to continue operating an asset management business spanning both public and private markets. The Australian financial conglomerate said that, as part of the deal, it would collaborate with Nomura on product and distribution. Macquarie has been strategically reshaping its North American operations, having already withdrawn from several debt market segments. It is shuttering its US debt capital markets division, according to multiple media reports in February, pivoting instead to its private credit business, which has already deployed over A$22.5 billion (HK$112.36 billion) in loans. "Overall, the transaction sharpens the focus of Macquarie Asset Management back to its competitive strengths - private markets and its home market of Australia," Citi analyst Thomas Strong wrote in a report.
