Nomura Holdings, Japan's largest investment bank and brokerage, is actively seeking acquisition targets for its US investment management business. This move aims to build upon its $1.8 billion acquisition last year of Macquarie's US and European public asset management operations, according to CEO Kentaro Okuda.

Okuda stated that following this significant US investment, the company is looking for firms or divisions that complement its existing business. The Macquarie deal represents Nomura's largest acquisition since purchasing assets from the failed Lehman Brothers in 2008, though the firm later wrote down the value of those assets.

These comments reflect Nomura's long-standing ambition to establish itself as a global enterprise and highlight its progress in expanding internationally. Okuda noted that while the firm is viewed as a global company overseas, it is still seen as a domestic player in Japan. He emphasized the desire to communicate the firm's global work and profitability, particularly to its Japanese client base.

Nomura recently raised its mid-term profit forecast by 50%, targeting at least ¥750 billion ($4.7 billion) in pre-tax income for the fiscal year ending March 2031. This follows two consecutive years of record profits. The firm also increased its investment management pre-tax income target to ¥150 billion annually by March 2031, up from the previous ¥100 billion goal.

Despite recent investor concerns over global private credit funds leading to increased redemptions, Nomura plans to expand its private credit assets under management within its investment management business tenfold. The firm aims to manage over $5 billion in assets by the end of fiscal 2030-31, compared to just $500 million as of March 2026.

Hiroyasu Koike, head of Nomura Investment Management, clarified that the firm's private credit balance refers to allocations held as investment products, resulting in very limited risk exposure on its own balance sheet.