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Nomura's China JV to expand scope within 5 years

Japanese brokerage company Nomura Holdings Inc.'s China joint venture will offer a "full range" of financial services within the next four to five years, The Nikkei reported, citing Toshiyasu Iiyama, head of Nomura's in-house China committee.

Nomura Orient International Securities, a majority-owned joint venture in Shanghai with Orient International and Shanghai Huangpu Investment Holding, plans to debut with wealth management services. The scope of business will then be expanded to include wholesale services such as fundraising, M&A advice and IPOs.

The Shanghai-based joint venture will establish offices in Beijing and Shenzhen in 2020, Iiyama said.