As a Japanese financial sector company in Korea, where does the competitive advantage lie for Nomura Securities?
It is a bit misleading to refer to Nomura as a Japanese company; we see ourselves as a global company, so naturally our clients expect us to utilize global networks and resources. We have expanded in Asia through localizing to the market. In fact, of the 130 staff here in Seoul, only three are from Japan. That said, there are more similarities than differences between Japan and Korea in many ways from culture to business, which certainly leads to some expertise cross-over from our long history in Japan. For example, in general, both nations are traditionally wary of foreign investors and the concept of M&A, however this perception is shifting. Industry wise, there are many similarities with both nations built on the back of export-reliant automotive and electronics industries, while conglomerates account for a large proportion of both nations’ business activities. As you are aware, the Korean government is promoting Seoul as an Asian financial hub. In this light, what advice would you
