Tech advances prompt Nomura Securities to consolidate branch offices in metropolitan areas

Maria Nikolova

The firm plans to consolidate 25 branch offices, mainly in Tokyo, Osaka and Nagoya, from early August to early September.

Nomura Securities Co., Ltd., a subsidiary of Nomura Holdings Inc (TYO:8604), has unveiled plans for consolidation of some of its retail branch offices located in metropolitan areas. The firm intends to consolidate 25 branch offices, mainly in Tokyo, Osaka and Nagoya, from early August to early September.

Nomura has established a network of 156 branch offices throughout Japan to provide optimal financial services that meet the diversified needs of its clients. However, given recent advances in technology as well as the changing age demographic and increasingly diversified needs of clients, the functions and roles expected of branch offices have changed. Via the consolidation of branch offices and assigning specialized sales partners to each branch office, Nomura aims to more closely align its offering to the individual needs of its clients.

Nomura also aims to offer more flexible business hours as well as life planning and inheritance consulting services that make use of digital tools.

The growing digitalization of banking services has prompted other financial institutions in Japan to streamline their services too. For instance, back in August 2018, MUFG Bank, a unit of Mitsubishi UFJ Financial Group Inc (TYO:8306) was reported to be reducing the number of ATMs. As per media reports, MUFG Bank was planning to reduce its Japanese ATM network by 20% through fiscal 2023. The change reflects the rise in online sales and cashless payments, which lessens the need for personal banking services such as cash withdrawals. The number of MUFG Bank customers using online banking has increased by 40% over the past five years.

Read this next

Technology

Spotware Systems unveils version 4.4 of Desktop and Web terminals

Spotware Systems, a technology provider for the electronic trading industry, has launched updated versions of its cTrader Desktop and Web terminals, which add new functionality to join a roster of advanced trading capabilities.

Institutional FX

Integral reports best monthly FX volume in 6 months

Currency trading on Integral’s platforms rose in September to its highest levels since March 2022 as increased volatility across financial markets led to greater activity on institutional FX venues.

Retail FX

OctaFX pre-launches new trading platform as MT4 and MT5 remain suspended by Apple

Like many other brokers within the FX and CFD industry, OctaFX had all its eggs in one basket, MetaQuotes, only offering access to MetaTrader 4 and MetaTrader 5. OctaTrader will provide the much needed change.

Opinion

Is the Bank of England facing another storm? Op-Ed by Stuart Cole, macro economist at Equiti Capital

An analysis and opinion editorial by Stuart Cole, macro economist at Equiti Capital, 3 October 2022 on what triggered the UK gilt market sell-off and is the Bank of England facing another storm?

Industry News

Kim Kardashian fined $1 million for touting EMAX tokens on social media

“Investors are entitled to know whether the publicity of a security is unbiased, and Ms. Kardashian failed to disclose this information.”

Retail FX

INFINOX launches IX Exchange platform with +20,000 markets in UK

“The launch of IX Exchange is a statement of intent for our growth strategy and a game-changer for our clients’ trading potential.”

Retail FX

Saxo issues gloomy report for Q4 2022 and beyond

Globalisation was the biggest driver behind low inflation over the past 30 years and instrumental for emerging markets and their equity markets. Globalisation in reverse will cause turmoil for trade surplus countries, put upward pressure on inflation and threaten the USD as the reserve currency.

Executive Moves

ICE appoints Caterina Caramaschi to oversee interest rates and equity derivatives

“As the head of a product set covering some of the biggest interest rate and equity derivative benchmarks, at a time when investor’s priorities are firmly focused on interest rate changes and the outlook for global economies, Caterina’s two decades of financial market experience, and the relationships cultivated during that, will be invaluable in developing these products to the benefit of our customers.”

Retail FX

Plus500 sponsors Chicago Bulls ahead of trading platform launch in United States

Plus500 has signed a major multi-year sponsorship deal to become an official global partner of iconic NBA team Chicago Bulls. 

<