About Our Founder Tokushichi Nomura | 14. Incorporation of Nomura Bank
In December 1917, Tokushichi took another step in preparing the company for future growth. Nomura Tokushichi Shoten, a private company, became Nomura Shoten Incorporated, with Tokushichi as principal stockholder. At the same time, Tokushichi retired to an advisory position, handing over day-to-day management responsibilities to his younger brother Jitsusaburo. Not possessed of the broad, innovative business genius of Tokushichi, Jitsusaburo had nevertheless made a steady and important contribution to the development of Nomura Shoten. He was not destined to see the full fruits of the seeds he had helped to plant. In 1919, he contracted pneumonia and died.