Why Nomura Holdings Inc (NMR) Is Drawn to the Shipping Sector

Nomura Holdings Inc (NYSE:NMR) is one of the best large cap penny stocks under $10 to buy now. This financial stock has gained more than 40% over the past year.

Why Nomura Holdings Inc (NMR) Is Drawn to the Shipping Sector

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Nomura Holdings Inc (NYSE:NMR) is looking to expand its portfolio of investment products, and it has identified opportunities in the shipping industry. On April 21, Nomura announced that it has invested in Navigo, a German maritime asset investment platform.

Navigo invests in a portfolio of marine vessels. It provides its vessels to customers under long-term charter arrangements. According to Nomura, Navigo has built a strong operation backed by a global network and longstanding expertise.

Nomura notes that the global efforts to reduce greenhouse gas will drive demand for new-built vessels. As an example, demand is expected to increase for ships that run on LNG and for ships that can transport liquefied carbon dioxide.

Nomura plans to use its investment in Navigo as a research opportunity to build its expertise in the shipping and maritime sector. From there, it can expand its real asset product offering and broaden investment opportunities for institutional investors.

Nomura’s March quarter revenue rose 27% YoY to $3.6 billion, and net income attributed to shareholders came to $465 million. Revenue for the full-year period ended March jumped 15% to $13.6 billion, and net income attributed to shareholders rose 6% to $2.3 billion. Nomura CEO Kentaro Okuda said the company’s business model transformation efforts continued to bear fruit.

Based in Tokyo, Nomura Holdings Inc (NYSE:NMR) is a Japanese multinational financial company. It offers wealth management, investment banking, and brokerage services, among others. Nomura was founded in 1925 and operates across the Americas, Europe, and Asia.

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