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🎙️Episode 1 of Nomura’s brand-new "Understanding Japan" podcast is officially LIVE! At Nomura, Japan is home. In this new monthly series, we share points of view from experts who are close to the developments shaping one of the world’s most closely watched economy. For our debut episode, Chief Japan Economist Kyohei Morita tackles the massive demographic shifts reshaping the country. He dives into the critical questions every global business leader and investor should be asking: • Why can’t Japan reverse its shrinking and aging population trend? • What is driving productivity growth despite a shrinking workforce? • Will real wage growth sustain, and how will investment behaviors evolve? Listen to the full conversation to understand the trends reshaping Japan and why they matter beyond its borders. Apple Podcast: https://ow.ly/Kw4I50ZX5qx Spotify: https://ow.ly/ASTw50ZX5te Nomura Connects: https://ow.ly/aBPW50ZX7mg #NomuraPodcast #Japan #LaborMarkets

🎙️Introducing Understanding Japan, our new monthly podcast series that explores the forces shaping Japan's economy. Our first episode, launching on Tuesday, unpacks Japan’s shifting demographics. We’ll explore how companies and households are coping with an incurable labor shortage and whether their strategies will succeed. 🔗Click the links below to subscribe and be ready to tune in when the episode drops! #NomuraPodcast #Japan

In our September edition, we welcome the incoming graduate class beginning their Nomura careers, announce the release of our annual Nomura Report covering the firm’s key business activities, and share updates from events and community initiatives around the world, including the opening of our new Frankfurt office, and a sponsorship with FT Schools for its special ‘AI in Education’ report. Follow and subscribe to receive our future monthly newsletters. #Nomura100Years

In our August edition, we highlight recent quarterly earnings, share updates from events and community initiatives around the world — including Nomura Greentech's flagship Sustainable Leaders Summit, centennial celebrations in Hong Kong, and our annual employee hackathon in India. Our research spotlight, "A Resilient World Economy: Outlook for the Second Half of 2026," presents a broadly positive global outlook while acknowledging key macroeconomic and geopolitical risks on the horizon. Follow and subscribe to receive our future monthly newsletters. #Nomura100Years

For decades, investors have embraced the asset allocation doctrine that bonds and equities belong together, believing one should work when the other failed, providing mutual diversification. But the Iran war undermines that assumption, as did the inflation shock of 2022, since both bonds and equities experienced drawdowns at the same time. One strategy that did work in each of these cases was to own a portfolio of long swaption straddles. Both the global equities index and global bonds index fell from February 27, just before the Iran bombing, until March 23. But long positions in EUR and USD swaption straddles made gains. Read more: https://ow.ly/aAav50Yz9RL

In the March edition of our newsletter, we cover our Global Markets transformation, topping the equities rankings in Japan, and “the mother of all deals” as India and the EU sign a free trade agreement among other key insights and company updates. Follow and subscribe to receive our future monthly newsletters. #Nomura100Years