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Nomura Holdings will inject ¥100bn ($895.6m) into a new business the financial services provider says will provide funding for corporate restructuring and management buyouts.

The financial services group said on Wednesday morning it would establish a Merchant Banking Preparation Office from December 1 that will be responsible for sourcing deals and working out the details of the new business.

Nomura said the new business will “primarily provide equity to clients as a solution for business reorganizations and revitalizations, business succession as well as management buyouts” but added it had yet to identify any specific investment targets.

Equity and other investments will be provided through a fund, with Nomura investing “approximately 100 billion yen” in the new business in addition to the cost of setting it up. The company said it expected the impact on its consolidated results for the fiscal year ended March 2018 to be minimal.

Separately on Wednesday Nomura also said it would cancel 4.7 per cent of its outstanding shares on December 17.

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