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Nomura Research Institute Ltd., the economic research and consulting arm of Nomura Securities Co., debuted Monday on the first section of the Tokyo Stock Exchange with an opening price of 14,850 yen, against its initial public offering price of 11,000 yen per share.

The debut price gives Nomura Research a market value of 668 billion yen, the highest for any issue listed this year, exceeding the 625 billion yen registered by McDonald’s Co. (Japan) when it listed on the Jasdaq over-the-counter market in July.

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