Japanese financial holding company Nomura Holdings says it will purchase an asset management business from an Australian financial group for 1.8 billion dollars.



Nomura Holdings announced on Tuesday that it will acquire 100 percent of the stocks of three companies including a US asset management company from Macquarie Group.



The three companies manage investments including stocks and bonds for individual and corporate clients mainly in the United States. Their client assets total about 180 billion dollars.



Nomura Holdings aims to strengthen its overseas asset management business. It says that after the acquisition, overseas holdings will account for 60 percent of its management division's total profit, up from the current 30 percent.



President and Group CEO of Nomura Holdings Okuda Kentaro said he wants to expand the range of financial products in the United States by utilizing the client base of the three companies.



Japanese financial companies have been making moves to strengthen their overseas asset management businesses. Last year, Mizuho Financial Group invested in a US asset management firm.