Nomura Holdings Inc. has approached major private equity firms about the possible sale of affiliated noncore domestic businesses that could help it shore up its capital base, the Financial Times reported.
The brokerage group has held preliminary talks with parties including U.S. investment funds KKR and TPG concerning the sale of Nomura Real Estate Development Co. and Nomura Research Institute Ltd., although no formal auction process has taken place, the British newspaper reported Wednesday, citing unnamed sources.
Nomura, whose core company is Nomura Securities Co., last month said it had tripled its cost-cutting target to around ¥92.6 billion after posting a group net loss of ¥46.1 billion for the July-September quarter.
Nomura Real Estate Holdings Inc., the parent company of Nomura Real Estate Development, and Nomura Research Institute are listed on the first section of the Tokyo Stock Exchange.