Nomura Plans Reorganization Of US Businesses

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TOKYO--Japanese banks are scaling back or restructuring their global trading operations following recent turmoil involving emerging markets and hedge funds. Nomura Securities has announced plans to reorganize its US-based business, though the company remains committed to offering global investment banking services. But Nikko Securities, Daiwa Securities and Long Term Credit Bank of Japan all plan to scale back or close their overseas operations, say sources, due to heavy losses sustained in

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