Fitch revises Nomura, Daiwa views to stable

Fitch Ratings said it revised the outlooks on several companies to stable from negative and affirmed their long-term issuer default ratings at A-.

The outlook on Nomura Holdings, Inc. and its wholly owned subsidiary, Nomura Securities Co., Ltd., were raised to stable.

The outlook of Nomura Financial Products & Services, Inc., a wholly owned subsidiary of Nomura Holdings, also was revised to stable.

Daiwa Securities Group Inc. and its wholly owned subsidiary, Daiwa Securities Co. Ltd., also now have a stable outlook.

The outlook revision follows the recent affirmation of Japan's sovereign rating at A and revision of the sovereign's outlook to stable from negative, Fitch said.

The revision to the stable outlook is in line with the stable outlook on the sovereign rating, the agency said, as the companies' issuers default ratings are driven by expectations of support from the Japanese authorities, the agency said.

The stable outlook considers the improving economic outlook for Japan, which has lowered risks over the trajectory of public debt, Fitch said.

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