Over the next few years, Osaka Nomura Bank's involvement in the bond market deepened and securities transactions began to account for a progressively greater portion of overall revenues. With other parts of the bank's business also growing, it gradually became clear that it would be impossible to give adequate attention to securities if they were treated as simply one aspect of the banking business. As early as 1922, it was recognized that there was a need to establish the Securities Department as a separate organization.
