Moody’s puts Nomura on review

Moody's Japan K.K. said it placed the Baa3 long-term issuer and senior unsecured debt ratings of Nomura Holdings, Inc. on review for upgrade and assigned a Baa2 long-term issuer rating of Nomura Securities Co., Ltd. and placed under review for upgrade.

The agency withdrew its Baa2 senior unsecured debt rating for Nomura Securities Co., Ltd.

Moody’s said the review for upgrade was prompted by improvements in Nomura's profits and profitability, as well as reduced earnings volatility.

Furthermore, improvements in capitalization have also been achieved. Moody's said the review was also driven by changes to Japan's Deposit Insurance Act that may increase the probability of official support for Nomura.

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