STOCKS | Nomura Securities Launches First Actively Managed Japan Equity ETF in U.S. to Target Retail Investors

Nomura Holdings has launched its first actively managed Japan equity ETF listed in the United States. According to Sina Finance, the move aims to use a distribution network acquired from Macquarie Group’s U.S. asset management business to reach U.S. retail investors and is part of Nomura’s global asset management expansion strategy. Nomura aims to increase its global assets under management, including in the U.S. market, to ¥180 trillion (about $1.1 trillion) by 2030. Yuichi Murao, head of global Japan equities at Nomura Asset Management, said Japan’s macroeconomic environment had changed significantly after the so-called “lost two or three decades,” and that investing in Japanese equities was now viable. He said U.S. retail investors had relatively low awareness of the Japanese stock market and that Nomura hoped the ETF would “lay the foundation” for its U.S. business. Nomura Asset Management advises the ETF. In 2025, Nomura spent about $1.8 billion to acquire Macquarie Group’s U.S. asset management business, its largest acquisition to date. Murao said Nomura plans to use the major U.S. distributor relationships gained through the deal to attract investor funds. He described the effort to build the ETF’s profile in the U.S. market, including explaining developments in Japan’s market to distributors, as “a long journey.” As of November 11, actively managed ETFs in the U.S. that primarily invest in Japanese stocks remained small in scale, with only a handful of listed products, according to compiled data.