TOKYO: In April, Nomura Holdings Inc. announced plans to relocate some of its Japan offices in accordance with the scheduled redevelopment of the Nihonbashi district in Tokyo.

In line with the redevelopment, Nomura has obtained the right to real estate (reserved floor space) in the completed project in exchange for rights to the assets it currently owns. The conversion of the firm’s rights was approved on May 20, 2020.

In addition, Nomura has earned the right to receive compensation related to rent and other losses. Based on the book value of the assets to be transferred and the fair value of the rights to be obtained, Nomura expects to book an estimated pretax income of 70 billion yen in its first quarter consolidated financial results for the fiscal year ending March 2021.

Nomura is an Asia-headquartered financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its four business divisions: Retail, Asset Management, Wholesale (Global Markets and Investment Banking), and Merchant Banking.