Nomura Securities, its London-based Nomura International PLC unit and Nomura Asset Management have jointly disclosed, in a filing with Japan's Kanto Local Finance Bureau, that their combined stake in JFE Holdings, the steelmaker listed as 5411 on the Tokyo Stock Exchange, rose from 6.58% to 7.74% of voting-equivalent shares as of August 31, 2026. The change report, the eighth in a running series covering this position, was submitted on September 7 and cites two triggers: a swing of more than one percentage point in the holding ratio, and the execution or amendment of a material contract of 1% or more.
The three entities together now hold 49,982,669 shares against 639,438,399 shares issued, after deducting 8,571,702 shares to avoid double-counting delivery-demand rights among the joint holders. The move was uneven. Nomura Securities' own position barely shifted, from 1.04% to 1.05%. Nomura Asset Management, running trust-fund positions, edged up from 5.03% to 5.33%. The real mover was Nomura International PLC, the London dealer arm, whose declared stake jumped from 0.52% to 1.35%.
| Filer | Shares held | Current stake | Prior stake |
|---|---|---|---|
| Nomura Securities Co. | 6,783,117 | 1.05% | 1.04% |
| Nomura International PLC | 8,738,552 | 1.35% | 0.52% |
| Nomura Asset Management Co. | 34,461,000 | 5.33% | 5.03% |
| Combined | 49,982,669 | 7.74% | 6.58% |
Much of that jump is not straightforward stock ownership. Of the group's total, 13,086,329 shares are potential shares tied to bonds carrying share subscription rights: 6,133,393 held through Nomura Securities and 6,952,936 through Nomura International PLC. Nomura Securities also reports holding call options on 6,077,612 shares from three counterparties while writing call options on 6,511,062 shares to a single counterparty; Nomura International PLC holds calls on 6,794,322 shares from two counterparties and has written calls on 5,585,757 shares spread across twelve. Nomura Asset Management, separately, has lent out 15,798,500 shares under loan agreements to eight parties.
The stated purposes point to a trading-book reading rather than a governance push. Nomura Securities cites securities-business inventory and cumulative-investment operations, Nomura International PLC cites inventory, and Nomura Asset Management cites management of trust assets. Filings like this one track gross positions built up across a banking group's business lines, including securities lending and options activity, and do not by themselves say anything about intent toward JFE's management. What the filing does not explain is why the London unit's book grew so sharply in this window, only that it did.