Daiwa Securities president and chief executive Seiji Nakata
Daiwa, it is commonly accepted, faces challenges tough even by the gruelling standards of Japanese banking.
It is eight and a half years since it announced its intention to buy itself out of its joint venture with Sumitomo Mitsui Banking Corporation (SMBC), and ever since then it has faced questions about its future. It has a powerful (although second-best) retail distribution network in Japan but faces challenges at every turn.
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