Nomura Holdings has received a shareholder proposal that it will put to a vote for the first time in 13 years at a general meeting next month, as activism in the nation’s stock market heats up.
The proposal seeks to change the company’s name to Nomura Securities Group, according to a notice of the meeting. The shareholder isn’t identified but is a former employee of Nomura’s brokerage unit, according to a person familiar with the matter.
A name change would help the company return to the principles of its founder, Tokushichi Nomura, after the firm went through a series of scandals, according to the shareholder. Those include manipulative trading in bond derivatives, which led to the company getting hit with a regulatory penalty and being temporarily left out from corporate bond deals.
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