Board of Directors
Chair
Chie Toriumi, CMA
Representative Director, Deputy President, Nomura Securities Co., Ltd.
Senior Managing Director, Nomura Holdings, Inc.
Group Sustainability and Financial Education (Chief Sustainability Officer)
Profile
Chie Toriumi is currently the Representative Director and Deputy President of Nomura Securities, as well as the Senior Managing Director of Nomura Holdings. She serves as the Chief Sustainability Officer, having transitioned from her previous role as Head of Content Company, which she held from 2020 until March 2025.
Prior to her tenure as Head of Content Company, Ms. Toriumi was responsible for Retail Business Strategy. From 2014 to 2018, she served as President and CEO of Nomura Trust and Banking, where she managed the banking operations of the Nomura Group. Additionally, she was the Senior Managing Director of Nomura Holdings from 2011 to 2014, overseeing the Group’s global strategy.
Ms. Toriumi joined Nomura in 1989 and has held various positions across several divisions within the firm, including the New Products Development Group in Equities and the Corporate Finance Group. She also worked as a proprietary trader in the Convertible Bonds and Warrants Department.
Ms. Toriumi was appointed Chair of the Securities Analysts Association of Japan in August 2025. She earned a B.A. in Law from Waseda University and an MBA from Stanford University. She holds the CMA (Certified Member Analyst of the Securities Analysts Association of Japan) and the CFA (Chartered Financial Analyst) designations.


Vice Chairs
Tomio Arai, CMA
Professor Emeritus
The University of Tokyo
Yoshiko Sato, CMA
Executive Managing Director
Japan Investor Relations Association
Noriyuki Sugihara, CMA
President & CEO
Asset Management One Co., Ltd.
Executive Managing Director
Takashi Kozu, CMA
Profile
Takashi Kozu became President and Chief Executive Officer of the Securities Analysts Association of Japan (SAAJ) on 12 August 2021.
He spent thirty years with the Bank of Japan and whilst there was assigned to various areas including economic research, money market operations, bank examination, international banking regulations, Diet affairs, and public relations. He became Advisor to the Governor in charge of Diet affairs in 2005 and similarly for international banking regulations in 2006. He was a member of the Basel Committee on Banking Supervision 2006-10 and co-chaired its Macro-prudential Supervision Working Group 2009-10. He was also Deputy Chair of the Working Group on Banking Supervision of the Executives’ Meeting of East Asia Pacific Central Banks 2006-10.
He left the Bank in 2010 and joined Ricoh Institute of Sustainability and Business as Chief Research Fellow. He was President of the Institute 2016-21.
He has been a member of the SAAJ Board of Directors since 2019 and was a member of the Policy and Coordinating Committee 2019-21.
He has been a member of the Japan Association of Corporate Executives, Keizai Doyukai, since 2016 and a Trustee since 2019. He chaired its Economic and Fiscal Prospects Project Team in FY2020, the Study Group on Economic and Fiscal Prospects and DOYUKAI Institute for Economic Research in FY2021/2022, and co-chairs the Political and Administrative Reform Committee in FY2023.
He is also a Visiting Researcher at the Research Institute for Socionetwork Strategies, Kansai University and at the Australia-Japan Research Centre, Crawford School of Public Policy, Australian National University.
He graduated from the Faculty of Economics, University of Tokyo with a BA in 1980 and obtained a PhD in economics from the Graduate School of Economic Science, Saitama University in 2007. He holds the CMA (Certified Member Analyst of the Securities Analysts Association of Japan) designation.


Managing Director
Kazuo Katayama
Directors
- Katsumi Ao, CMA
- Junko Ikarashi,CMA
- Katsumi Ooka, CMA
- Yoshimasa Osaki, CMA
- Kanako Ogura
- Hiroshi Kato, CMA
- Hirokazu Kabeya, CMA
- Masanobu Kitayama,CMA
- Kazuko Sakaguchi
- Yuji Shiomi, CMA/CIIA
- Kazuyuki Shigemoto, CMA
- Jun Sugie
- Naonobu Sumida, CMA
- Satoshi Someya, CMA
- Mana Nakazora, CMA/CIIA
- Takahiro Nakayama, CMA/CIIA
- Arihiro Nagata, CMA
- Keita Fukuchi, CMA
- Masao Matsumoto
- Masashi Morita,CMA
- Nobuyasu Yoshioka
- Yusuke Yoshizawa
Auditors
Ryouta Yanagihara
Hiroyuki Matsuzaki, CMA
Tatsuhiro Sakai