TOKYO -- Nomura Securities ranked as the top investment bank in 2023 for mergers and acquisitions involving Japanese companies, in a year when businesses faced mounting pressure to pay more attention to value. Nomura advised on or underwrote deals worth a total of 8.04 trillion yen ($54.1 billion), based on data from the London Stock Exchange Group. This was 2 trillion yen ahead of runner-up Mitsubishi UFJ Morgan Stanley Securities, which led the 2022 league table. Mizuho Securities, J.P. Morgan Japan and SMBC Nikko Securities rounded out the top five.