About Our Founder Tokushichi Nomura | 15. Osaka Nomura Bank Established
During his study tour of world financial centers in 1908, Tokushichi had noted the close relations which existed between securities firms and banks overseas. In his autobiography, he pinpointed one very practical reason why he himself had proceeded to cultivate good relations with Japan's banking community: "Because the timely settlement of accounts often makes it necessary to raise large amounts of money at very short notice, only in this manner can major deals be made." For ten years, being ambitious and conscious of the superior status of banks in Japan's financial life, Tokushichi had nurtured the dream of founding a bank himself. Now, he had the means to diversify and concentrate his energies on a new venture. In 1918, the Osaka Nomura Bank (the present day Resona Bank) was established with a capital of ¥10 million.