Nomura to Invest in New Japanese Venture

Nomura Holdings Inc. plans to invest in a yet-to-be-named lending and investment company being started by a group of partners that includes professionals who held positions at GMAC Commercial Mortgage Japan KK.The new company will be initially capitalized at ¥400 million (about $3.74 million), according to Nomura, and the company says it plans to make another ¥400 million investment and may invest an additional amount up to an aggregate maximum of ¥20 billion (approximately $187 million). "As a result, NHI may eventually acquire a majority of the new company's voting rights," Nomura said. The new company plans to provide problem loan resolution, assistance with corporate turnarounds, and other related matters, Nomura said. "It will also provide nonrecourse loans backed by real estate properties such as office buildings and rental condominiums, and other income-generating assets," Nomura said. Nomura can be found on the Web at http://www.nomura.com.