Nomura Securities To Create Corp Turnaround Section

According to Nikkei, Nomura Securities Co. will next month establish a new department dedicated to corporate turnaround business, foreseeing further growth in demand for services against the economic downturn. The new section will focus on financial advisory services for ailing companies, helping such clients draw up turnaround plans and raise the funds necessary to restore their operations. It will also provide advice on merger and acquisition deals, debt reduction and asset sales.

The securities industry has paid attention to the Nikko deal and to the Nikkei. Since the Nikkei has stabilized around 10,000 yen, the securities houses can afford to start some new business.