A US appeals court appeared unlikely on Friday to overturn an order requiring Nomura Holdings Inc and Royal Bank of Scotland Group Plc to pay USD 839 million for making false statements while selling mortgage-backed securities to Fannie Mae and Freddie Mac.
Under the agreement, Ashikaga would rename itself under a new holding company, in which Joyo shareholders would receive 1.170 shares for each Joyo share they own.
The Nikkei ended 1.9 percent higher at 16,121.45, nearing a six-year high of 16,320.22 reached on December 30.
The earliest date for the IPO is the first quarter of 2014, IFR, a Thomson Reuters publication said, adding the current weak outlook for the Indian economy and the rupee makes it hard to sell a business trust IPO to foreign investors.
Tokyo's bourse imposed a record fine of about USD 2.5 million on Nomura Holdings today in the wake of an insider trading scandal at Japan's biggest brokerage.
Nomura Holdings admitted to widespread failures in protecting confidential client information on Friday and will slash pay for top executives and shut down an equity sales operation for a week as Japan's largest brokerage tries to resolve a damaging insider trading probe.
Nomura Holdings posted on Friday its second straight quarterly profit on a pick-up in Japanese stocks and mutual fund sales, while cost cuts and overseas mandates lay the foundation for an expected jump in profitability this year
A Nomura Holdings employee was the source of information leaked to a Japanese fund manager penalised on Wednesday for insider trading ahead of a stock offering by energy firm Inpex in 2010, sources with knowledge of the matter said.
Banks embarked on another round of job cuts this week in Asia, laying off hordes of staff in fixed-income, derivatives and equities businesses, hit by weak trading revenues and a slowdown in dealmaking and new issues.
Nomura Holdings, Japan's largest investment bank, is planning major cost cuts that will like have the biggest impact on its loss-making European operations, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Nomura Holdings said on Wednesday it has appointed Prabhat Awasthi, who has been working with the Japanese bank for nearly three years, as head of its India equities business.
Nomura Holdings plans to launch a USD 500 million India infrastructure fund in September, its country head said, joining the league of firms looking to play a role in financing infrastructure projects in Asia's third-largest economy.
Nomura Holdings, Japan's biggest brokerage, is expected to post a gain in profits as a rise in fees from stock and bond trading at home helped it outweigh the cost of expanding overseas.