Nomura Holdings Inc. 's former China head lost a Hong Kong court battle against the Japanese brokerage in which he sought about $4 million in damages for wrongful dismissal. Yang Zhizhong, who was also the former chairman of investment banking for Asia ex-Japan, claimed that the bank violated his contract by issuing a warning letter and forfeiting his bonus before terminating his employment in 2017. The Tokyo-based firm had disciplined him for arranging meetings between its research analysts and potential clients without obtaining compliance approval, according to the court judgment.