In the lead up to our centenary on December 25, 2025, we are releasing a series of videos highlighting Nomura’s history on our 100th Anniversary Website.
Episode 2, titled “Nomura Under GHQ: Protecting our Name and Values,” focuses on the period before and after World War II.
Episode 2 of our centenary video series covers the period from 1937 to 1949, a tumultuous time in Nomura’s history. We focus on Japan before and after World War II under GHQ occupation.
In 1941, amid the global outbreak of World War II, Nomura became the first company in Japan to sell investment trusts. However, trading on the Japan Stock Exchange was suspended on August 10, 1945, just a few days before the war in Japan ended on August 15.
After the war ended, the seven-year GHQ occupation of Japan began. Nomura, considered a zaibatsu (conglomerate) at the time, was subjected to a series of strict demands by the GHQ, including an order to change the company’s name.
Tsunao Okumura, who became Nomura Securities’ third president at age 44, was determined to protect Nomura’s name and values, while simultaneously striving to revive the investment trust business to support Japan’s post-war economic recovery.
How did Okumura manage to stand up to the GHQ and resist their demands? And how did he feel during this time?
Watch the video below to learn more about this critical time in our history.
