Nomura Shares Hit Key Metric for First Time Since 2016

Nomura Holdings Inc.’s price-to-book ratio hit the threshold of 1 for the first time since late 2016, meeting an important benchmark set by the Tokyo Stock Exchange in its drive to improve shareholder value.

The shares rose as much as 1.1% to 1,189.5 yen, the highest level since Oct. 2008, pushing the ratio slightly above the 1 mark. The stock has climbed about 77% since its April 7 low for the year, with gains picking up pace in November following better-than-expected profit.