Support for Culture, the Arts and Academia | Support for Academia

We support a range of research in collaboration with educational institutions with the medium-to-long term objective of fostering the leaders of the next generation and promoting technology and industry.

Relationships with Educational Institutions (Industry-University Collaboration)

The University of Tokyo

Nomura Securities Co., Ltd. conducts joint research with the University of Tokyo on bolstering the financial base of Japans universities. Japan is experiencing a decline in the population of 18-year-olds, which is putting strain on universities fi nances, and has forced them to rethink the ways in which they support themselves financially. We plan to study ways that Japanese universities can bolster their finances by researching both public and private universities in Japan and the U.S., utilizing document research, on-site study tours and statistical surveys and analyses. We will use the results of this research to present information and ideas that will assist Japanese universities in their efforts to strengthen their fi nancial base, and we will also be proactive in proposing policies for the government to consider.

Kyoto University

In 2001, we established the Kyoto University Institute of Economic Research Application of Financial Engineering (Nomura Group) Research Section along with the Research Center of Kyoto Universitys Institute of Economic Research. The Center applies fi nancial engineering to a variety of research projects, such as enhancing corporate value through business risk management, advancement of asset management techniques, and fi nancial sector structural reform. The Center invites researchers from all fields to its "Economic Theory and Finance Theory Research Forums," where the latest research results are announced and discussed.

Hitotsubashi University

We established the Financial and Capital Markets Research Center with Hitotsubashi University as a forum to encourage the exchange of opinions between universities, government and industry.
The Center carries out joint research and has research groups studying topics including socially responsible investing, corporate governance and Asian bonds. In March 2007 the Asian Bond Conference was held in Bangkok, Thailand, where the Asia Bond research seminar issued a report examining and suggesting measures for fostering growth in the Asian bond market. In April 2007 a symposium was held to mark the publication of reports and books published by the SRI research group.

The University of Oxford

We established the Nomura Centre for Mathematical Finance at the University of Oxford to support research in state-of-the-art financial engineering.

Columbia University

Nomura Holdings, Inc. is the lead corporate sponsor for The Program on Alternative Investments run by the Center on Japanese Economy and Business at the Columbia Business School. The program is chiefly engaged in researching and releasing its findings on alternative Japanese investment assets, an initiative which is the first of its kind. Nomura Funds Research and Technologies Co., Ltd. is liaison to the program.

Chulalongkorn University

Chulalongkorn UniversityFor the past five years, Nomura has worked closely with Chulalongkorn University, one of Thailands most prestigious universities, to hold an annual lecture in finance. The 2007 lecture was titled FTA Dynamism in Asia and was led by Tomo Kinoshita, chief economist of Asian research in Nomura International (Hong Kong) Limited. We plan to build on the success of the program and in turn contribute to the development of Thailands capital markets.

SRI Research Group

SRI, Business, and FinanceSince fiscal 2005, Hitotsubashi University and Nomura Securities Co., Ltd. have managed the SRI Research Group, an industry-academia joint research project on Socially Responsible Investing (SRI) chaired by Professor Kanji Tanimoto of Hitotsubashi University. Welcoming SRI leaders from leading domestic institutions in a range of industries, the Group aims to conduct its affairs from a position of organizational neutrality. The results of the Group's research activities, obtained from surveys overseas on the latest trends in SRI as well as investor questionnaires and interviews, were published in a book called SRI, Business, and Finance. At a symposium held on 17 April 2007, attended by more than 250 guests, guest speakers from overseas gave lectures during the first half, followed by a panel discussion, which focused on issues such as the current progress of SRI in Europe and America, the position that SRI occupies in asset management in Japan, and the type of value-added that SRI brings.
With the recent attention placed on the Principles for Responsible Investment developed by the United Nations, we believe the Group has assisted in providing greater understanding of how to fit SRI in the context of asset management.

Assistance Program under the Nomura Foundation for Academic Promotion

The Nomura Foundation for Academic Promotion was established in 1986 to commemorate the 60th anniversary of the founding of Nomura Securities Co., Ltd. The Foundation provides financial support to university researchers primarily in the fields of law, political science and economics. In fi scal 2006 the Foundation supported 23 research projects, sent researchers abroad and invited researchers from overseas (total of 28 researchers), in addition to providing support for seminars.

Nomura Institute of Capital Markets Research

Established on April 1, 2004, Nomura Institute of Capital Markets Research (NICMR) builds on a tradition begun in 1965 of studying financial and capital markets as well as financial institution systems, structures, and trends. NICMR specialists produce objective research and policy proposals based upon actual business experience.
NICMR's chief objective is to produce research that will contribute to continued financial system reforms and securities market reforms that will result in the continued development of market-based finance.
NICMR research encompasses not only issues related to Japan, but also covers timely issues concerning capital markets-related issues faced by other developed countries, namely the U.S. and European countries. NICMR's mission includes generating financial and capital marketrelated policy recommendations for China and other developing nations based upon fundamental analysis and comparative studies of market experience in Japan and other developed countries. Research is disseminated in two quarterly magazines: Capital Markets Quarterly (Japanese language, distributed domestically) and the Nomura Capital Market Review (English-language publication, distributed both domestically and internationally).
In addition to supporting the NICMR's activities, Nomura Group quickly incorporates the results of the Institute's research into its own business activities as well as its economic and financial education programs.

• Nomura Institute of Capital Markets Research Website

Financial Strategy Advisers to Universities

Nomura Group has recently sent staff to serve as vicepresident and deputy-vice-president of Gunma University and Chiba University. The Japanese government has been reducing by 1% each year the payments that it makes to subsidize their operating costs, making national universities (officially "national university corporations") across the country worried about their financial health going forward. Given the situation, it has become important for national universities to make good use of their assets and to raise outside capital. The universities recognize that they need to develop financial strategies, and in particular to raise capital from outside sources, but they lack experience and expertise in financial management.
From an early stage, Nomura Group has been conducting research in this field to contribute to raising the competitiveness of Japan's universities, which are critical to the country's foundation. Having Nomura Group personnel in place at national universities will allow the institutions to take advantage of Nomura Groups network and financial strategy skills as a private sector company. We hope that this will help Japan's national universities become even stronger institutions.
Believing that Japanese universities should see firsthand the latest developments at U.S. universities, which have quite advanced fundraising strategies, in October 2006 we took the presidents and financial officers from approximately ten of Japan's universities to schools in the U.S. noted for having strong financial strategies, such as Wellesley College. Knowledge relating to financial strategies for universities in Japan has grown, as was evidenced by the lively exchanges of ideas between the college presidents and CFOs.

Financial Education in High Schools

With the long-term aim of fostering the next generation of financial professionals, Nomura Securities Co., Ltd. has partnered with Ritsumeikan University on an initiative to develop financial education at high schools.
The initiative involves surveying and researching the current state of economics education at high schools, building a network with educators, and developing and designing financial education programs. The plan for fiscal 2007 involves developing the learning materials and developing the program, with an aim to have an actual class up and running at Ritsumeikan University's affi liated high school in fiscal 2008.

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