With one triumphant deal, Nomura tells the world: Japan is back


Despite the seemingly momentous upheaval of the past few weeks, Takumi Shibata, the Anglophile chief operating officer of Nomura Holdings, says that the world has not changed. However, he declares that ‘Japan is back’

Takumi Shibata’s speed in snapping up Lehman Brothers assets has created the world’s biggest independent investment bank Last Wednesday, slumped around a pain-soaked shot bar in central Tokyo, the sharpest suits were contemplating a world gone terribly wrong. The swagger had left the Merrill Lynchians, the men of Lehman Brothers were fulminating against Dick Fuld, the glint was gone from even Goldman Sachs. Only the Nomura boys were partying, boisterously raising glasses to an unsettling new industrial scene in which their stuffy, conservative Japanese brokerage suddenly had become the Toyota of global investment banking.

“It’s good to know they were having fun,” Takumi Shibata, the Nomura dealmaker largely responsible for the abrupt transformation and lightning takeover negotiations with Lehman Brothers, said. “This is not an easy market for enjoyment.”

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