Nomura Holdings, Japan's financial holding company, is planning to raise $5.6 billion through stock sale to fund its expansion in the US, Asia and Europe.

With this being its largest ever stock sale, the Tokyo-based brokerage firm said today that it will raise as much as $2.77 billion by issuing 400 million common shares overseas, while the rest would be raised in Japan.

In a filing with Japan's ministry of finance, Nomura said that it would use the funds for investment and loans to its subsidiaries in the US, Asia and Europe.

This is the firm's second share sale this year. In March, Nomura had raised nearly $3 billion, the firms first share sale in 20 years.

The sale at that time was to cover the cost of its acquisition of Lehman assets in Europe, Middle East and Asia in September 2008. (See: Nomura to buy Lehman's banking, equities units in Europe, Middle East)

Nomura had taken a strategic decision in the beginning of the year to restart an overseas push after mounting losses in its US mortgage investments. It failed to capitalise on Lehman, since it did not manage to acquire the failed firm's US operations.

Nomura lost 342.9 billion yen in the third quarter ended 31 December 2008, as the cost of acquiring Lehman Brothers units added to the losses from the financial crisis weighed.

It registered a record net loss of 700 billion yen ($7.1 billion) in the year ended 31 March, and returned to profit only in the latest April-June quarter after six consecutive quarter losses.

In July, Nomura Holdings bought a 35-per cent stake in India's LIC Mutual Fund Asset Management Co Ltd, a unit of the country's largest insurer, the Life Insurance Corporation of India Ltd for about Rs308 crore ($63 million), valuing the fund house at Rs880 crore. (See: Nomura acquires 35 per cent stake in LIC Mutual Fund)