Japan's Nomura Holdings to hire more robots than humans in 2019

Nomura plans to hire the fewest graduates in five years in 2019

Nomura Holdings Inc’s drive toward automation is taking a toll on the career prospects of graduates who want to work in Japan’s securities industry.

The nation’s biggest brokerage plans to hire 530 school-leavers in 2019, the fewest in five years, as it seeks to use robotics and artificial intelligence to cut costs, according to Kenji Yamashita, a Tokyo based-spokesman. At least 600 will join Nomura in April, and many of them will work in retail branches.

Nomura is planning to save about 60 billion yen ($560 million) over the next five years by using digital and cloud technology and reviewing office space,