Nomura Appoints First Head of China Equity Research

Hong Kong, October 12, 2009 – Nomura, the Asia-based global investment bank, today announced that its chief China economist, Dr. Mingchun Sun, has been appointed head of China equity research, a newly created role to spearhead growth of its China equity research franchise.

In this expanded capacity, Dr. Sun will lead efforts to align and coordinate Nomura's economic, strategic, and sector research on the China market. He will work with analysts and research support teams in Hong Kong and Shanghai. Nomura is currently number one in terms of Pan-Asia research coverage, with over 1,150 stocks under its coverage across Asia-Pacific in combination with the Equity Research team in Japan.

"Mingchun's unique professional background and research experience makes him a natural leader for Nomura's research effort on China. His often timely, yet standout calls have earned strong recognition among our Chinese clients and policy makers. He will play an instrumental role in enhancing our China research capabilities as part of Nomura's strategy to build a top equity house in Asia-Pacific," said Dr. Hua He, head of equity and fixed income research for Asia ex-Japan, Nomura.

In late 2007, Dr. Sun was one of the earliest to correctly forecast a sharp economic downturn and the unmasking of overcapacity in China. In late 2008, his bullish view for a V-shaped recovery in China was again one of the first in the market. China's GDP growth has bottomed out in the first quarter of 2009 and rebounded quickly since then. In his thematic report entitled "Surprises from consumers" released this May, Dr. Sun predicted that consumption growth in China would remain strong despite the economic slowdown and would likely surprise investors on the upside. Since then, real growth of retail sales has stayed well above the historical average of 11.5% during 1994-2008.

Dr. Sun joined Nomura as chief China economist in October 2008. Prior to that, he was senior China economist at Lehman Brothers. In his previous career working for the State Administration of Foreign Exchange, he published a book on the RMB exchange rate and more than 50 economics articles in Chinese academic journals. Dr. Sun received his Ph.D. degree in management science and engineering from Stanford University, specializing in Economics and Finance.

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For further information please contact:

Name	Company	Telephone
Matthew Russell	Nomura	(852)-2252-6014
Anne Lui	Nomura	(852)-2252-6451

Nomura

Nomura is a leading financial services group and the preeminent Asian-based investment bank with worldwide reach. Nomura provides a broad range of innovative solutions tailored to the specific requirements of individual, institutional, corporate and government clients through an international network in over 30 countries. Based in Tokyo and with regional headquarters in Hong Kong, London, and New York, Nomura employs about 26,000 staff worldwide. Nomura's unique understanding of Asia enables the company to make a difference for clients through five business divisions: retail, global markets, investment banking, merchant banking, and asset management. For further information about Nomura, please visit www.nomura.com.

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