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From April 1st, Nomura’s Future Innovation Company will operate as a “Digital Company”
The digital company aims to advance Nomura in the area of cryptocurrencies, security tokens and NFTs
The Japanese online retailer Rakuten has also been active in the NFT business since February 2022
Nomura is a large Japanese holding company engaged in retail, investment management and wholesale (global markets and investment banking) businesses. Kentaro Okuda, the new CEO of the company founded almost 100 years ago, is now leading Nomura along new paths within these areas: Nomura’s Future Innovation Company is to be restructured as of April 1 of this year and promote work with digital financial products as a “Digital Company”. Nomura announced this in a press release in early March.
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Nomura: Digital financial products are becoming increasingly popular
Although the press release mentions “digital financial products such as cryptocurrencies, security tokens and NFTs”, the company’s plans are not specified in more detail. It says: “Nomura plans to increase digital collaboration between the group’s companies [] The establishment of a new organization with a strategic mission will drive further business development and global collaboration.”
This is necessary because digital financial products are gaining popularity as a new asset class.
CEO Okuda sees limitless possibilities for digital financial products
With the restructuring of the Future Innovation Company, Okuda is adapting the company to his plans for Nomura: The Future Innovation Company was only set up in spring 2019, a year before he was appointed CEO, and, according to the press release, has since been involved in a wide variety of future projects and of the digitization of Nomura.
As early as his 2021 letter to investors, Okuda explained that he stands for innovation: “Some people have a negative view of the future of credit institutions. I think that the future holds limitless opportunities for financial services.” One of the principles of the Nomura founder was always to be one step ahead and never to stand still. That’s why he set up the new department for investment management in spring 2021.
Rakuten is also entering the crypto business with its own NFT platform
Nomura operates in more than 30 countries and, according to its own information, had assets under management totaling 74.0 trillion yen (approximately US$643.9 billion) at the end of December 2021. It is not the only large Japanese company taking a step towards digital financial services in 2022: In February, the online retailer Rakuten, which also operates globally, published its own NFT platform.
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