In October of the same year, Nomura was chosen to underwrite an Osaka Mercantile Steamship Company, Limited (the present day Mitsui O.S.K. Lines) bond issue against stiff competition from a syndicate formed by several leading Tokyo banks. These two successes by the parvenu securities houses produced astonishment among the Japanese industrial-commercial community. Tokushichi's patient work in building up the reputation of his firm had paid off, and henceforth Nomura was known as one of the leading investment banks in the nation. Nomura Shoten was selected to underwrite numerous corporate bond issues and Tokushichi rapidly extended the firm's activities to include the underwriting of stock offerings. In this manner, and although not yet permitted to participate directly in the underwriting of government bond issues, the lion's share of the business, Tokushichi established Nomura on a much broader front, not just as a broker and dealer in stocks and fixed interest securities, but as a force in the primary bond market, too. Tokushichi's experiences at this time served to strengthen yet another ambition - to progress into the banking business, in which he saw larger scope for the development of Japan's capital markets, and for Nomura's future.
