Nomura Holdings Inc. will begin its exit from Ashikaga Holdings Co. by selling about ¥21 billion worth of preferred shares in the regional bank, according to two sources briefed on the matter.
Nomura Capital Investment Co. is poised to sell 8,000 preferred shares to closely held Ashikaga next week for ¥2.58 million apiece, the sources, who asked not to be named as the transaction is private, said.
The sale would further Nomura's goal of exiting private equity investments as Chief Executive Officer Koji Nagai focuses on bolstering profit growth. It joins global firms including Bank of America Corp. in selling assets to raise cash and concentrate on their main businesses as regulators tighten capital and liquidity requirements.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.