Nomura Holdings Inc was incorporated in Japan on December 25, 1925 under the Commercial Code of Japan. It is a financial services company in Japan. Its clients include individuals, corporations, financial institutions, governments and governmental agencies. Its business consists of Retail, Asset Management and Wholesale divisions. In Retail, it delivers financial products and investment services mainly for individuals and corporations in Japan primarily through a network of nationwide branches. It conducts its asset management business, which consists of the development and management of investment trusts and investment advisory services. Its Wholesale Division consisted of Global Markets, Investment Banking and certain other non-Retail operations, providing its corporate and institutional clients with services. Global Markets conducts sales, trading and market-making of fixed income and equity-related products. Its global fixed income offerings include, among other products, government securities, interest-rate derivatives, investment-grade and high-yield corporate bonds, credit derivatives, G-10 and emerging markets foreign exchange, asset-backed securities and mortgage-related products, in over-the-counter ("OTC") and listed markets. It also undertakes primary dealership business in the Japanese government securities market as well as in the Asian, European and U.S. markets. The Company offers investment banking services to a diverse range of corporations, financial institutions, sovereigns, investment funds and others. The Company competes globally with other brokers and dealers, investment banking firms, commercial banks, investment advisors and other financial services firms.