TOKYO — Nomura Holdings Inc. has reached an agreement to buy Citigroup Inc.'s Japanese trust banking unit for Y19 billion, the brokerage said in a press release Wednesday.

Nomura Trust and Banking Co. aims to complete the all-cash acquisition of NikkoCiti Trust and Banking in October this year, subject to regulatory approvals and deal terms. The acquisition is in line with the Nomura trust unit's move to focus on its fund trustee and administration services.

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