Nomura’s pay hike for 3,700 employees at Japan brokerage

Bloomberg

Nomura Holdings Inc. will raise salaries for employees at its Japanese retail brokerage for a third year.
Base pay for about 3,700 workers at the Nomura Securities Co. unit will climb an average 2 percent starting in April, Kenji Yamashita, a spokesman for the Tokyo-based firm, said on Monday by phone.
The increase targets younger employees in an effort to contribute to Japan’s economic growth, the firm said in a statement.
The pay rise averages about 6,000 yen ($53) a month, Yamashita said.
Nomura Holdings Inc. is a Japanese financial holding company, and a principal member of the Nomura Group. It, along with its broker-dealer, banking and other financial services subsidiaries, provides investment, financing and related services to individual, institutional and government customers on a global basis with an emphasis on securities businesses.
In October 2008, the company acquired Lehman Brothers Holdings’s investment banking and equities unit in Asia and Europe and kept on most of its employees.
Nomura paid $225 million for the purchase of Lehman’s Asian-Pacific unit.
Due to big losses, the shares dropped to their lowest level in nearly 37 years in mid-September 2011,
Nomura will cut around 5 percent of its staff in Europe — as many as 300
people
In October 2008, Nomura acquired most of Lehman Brothers Asian operations together with its European equities and investment banking units to make one of the world’s largest independent investment banks with Y20,300 billion (£138billion) assets under management.
In April 2009, the global headquarters for investment banking was moved out of Tokyo to London as part of a strategy to move the company’s focus from Japan to global markets.
Nomura sponsors research at Oxford University into mathematical techniques to use in finance including stochastic analysis, option pricing, stochastic optimal control, interest rate modelling and through the
Nomura Centre for Mathematical
Finance.