Japan's Nomura secures final approval for China securities JV

A man walks next to a sign for Nomura Securities in Tokyo July 25, 2013. REUTERS/Yuya Shino

Japanese brokerage Nomura Holdings (8604.T) has received final regulatory approval to launch its majority-owned joint venture in China that will operate asset management, brokerage, investment consulting, and proprietary trading businesses.

Nomura received the regulatory nod to set up the venture Nomura Orient International Securities in March this year, as part of Beijing’s move to open its financial sector up to foreign firms.

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