TOKYO -- Nomura Holdings sees the decision to scale back its joint brokerage venture with messaging app operator Line as a "forward-looking" one for the company, President and CEO Kentaro Okuda told Nikkei, outlining plans to focus more on services for corporate and wealthy clients.
Nomura had hoped that Line Securities was a way to better connect with younger customers. But the venture, which began offering its services in 2019, had recorded a cumulative net loss of around 30 billion yen ($214 million) as of March 2022.
