NOMURA News Release

Statement on Recommendation by Japan's Securities and Exchange Surveillance Commission

Tokyo, July 31, 2012 – Japan's Securities and Exchange Surveillance Commission today issued a recommendation to the Prime Minister and the Commissioner of the Financial Services Agency of Japan to bring administrative action against Nomura Securities Co., Ltd. The recommendation is based on the findings of an inspection conducted by the SESC in which violations of laws and regulations related to the control of corporate-related information concerning public offerings were identified.

Nomura sincerely apologizes to our customers and all parties concerned for the trouble we have caused.

In connection with the matters relating to the recommendation for administrative action by the SESC, we announced a series of improvement measures on June 29 and issued an update on the progress of implementation of these improvement measures on July 26. Under the leadership of our new management team, the entire firm is working to prevent a reoccurrence of similar violations.

We take the SESC's recommendation seriously and will further enhance and reinforce our internal control structure to regain the trust of the public.

SESC recommendation: Summary of findings

  1. Business practices relating to the control of corporate-related information concerning public offerings that inadequately address the necessary and appropriate measures to prevent unfair trading
  2. Acts of soliciting customers for the sale and purchase and/or other transactions of securities by providing corporate-related information and other inappropriate business practices



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 over 27,000 staff worldwide. Nomura's unique understanding of Asia enables the company to make a difference for clients through three business divisions: retail, asset management, and wholesale (fixed income, equities, and investment banking). For further information about Nomura, please visit