as set up an internal division to plan and promote the new pension program, while launching a series of subsidiaries
for the services.The government aims to have a law pertaining to the new pe
nsion plans enacted at the Diet session that convenes later this month.By proceeding with its preparations ahead of the expected legislative step, Nomura will make itself completely ready to embark on the new business upon its introduction, company officials said.By taking these steps, the brokerage hopes to gain an advantage o
ver its rivals — including banks and other financial institutions, to obtain a lion’s share in this potentially lucrative market.The defined-contribution pension plan has been eyed as an alternative to the current defined-benefit pension plans, many of which are running at a loss.Benefits under the new scheme will hinge on the investment performances of the pension funds.In its pension business strategy, Nomura said it will utilize its expertise in developing and handling risk-accompanied financial products that have been accumulated through its securities business operations.With the 401(k)-like pension programs expected to grow into a huge market, the company will try to secure a big customer base and turn the business into a major source of revenues in the f
uture.Nomura-IBJ Investment Services Co. — a joint venture established with Industrial Bank of
Japan in December 1998 — will support client companies in planning the new pension programs for their employees as well as in educating them about the new system.TwitterFacebookLin
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