Nomura's head of overseas business Masato Yamauchi (left) and Executive Officer Atsushi Ogata (right). Handout

MANILA — Japanese real estate giant Nomura Real Estate Development Co. Ltd. aims to obtain over 15 percent of the group profits from its overseas business by fiscal year 2031. 

Nomura said to achieve the target, it plans to invest roughly ¥550 billion in its overseas business by the fiscal year ending March 2031.

"The overseas real estate market is generally perceived as robust, and we are confident in achieving our targets accordingly," Masato Yamauchi, Nomura's head of overseas business, said in an interview in Japan.

Nomura operates globally and has offices in China, Thailand, Vietnam, Singapore, Hong Kong, the US, the UK, and the Philippines.

Yamauchi said Nomura is expanding its business in Southeast Asia and is actively involved in projects with new partners. He said the company's performance "remains strong" in Europe and the Americas.

In 2022, Nomura formed a joint venture with Philippines-based Federal Land — the real estate firm of GT Capital Holdings — and established Federal Land NRE Global Inc (FNG).

"Among the countries where we operate, the Philippines stands out with its long-term commitment and the largest expatriate community," he said.

FNG oversees 4 development sites in Metro Manila and Cebu, with a combined project cost of approximately $5 billion, he said.

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"Looking ahead, FNG plans to expand its investments into other regions in the future," he said.

For Yamauchi, the real estate business is "inherently local." 

He said it is crucial to adopt flexibility to meet the specific needs and practices of its local customers, "rather than merely applying Japanese know-how and experience."

"We believe that our strength in quality will continue to grow, and in the Philippines, we anticipate making significant contributions in this area," Yamauchi said.

"It is predicted that differentiation will become increasingly important in the Philippines, and quality will play a crucial role. We believe that high-quality products that leverage our expertise will have a strong presence in the Philippine market as well," he said.