Nomura Holdings has signed a contract with an organization led by baseball’s home run king Sadaharu Oh to support professional athletes after they retire.
Pro sports players can benefit from outside help in pursuing new careers and managing their assets after they step down, Japan’s biggest brokerage said in a statement on Tuesday. As a partner of Oh’s group, Nomura said it will help athletes stay economically independent and ensure long-term financial stability.
Oh founded the Japan Baseball Council in May to nurture “global heroes” from the world of baseball and other sports who can even surpass legends like Oh and Dodgers superstar Shohei Ohtani.
Morgan Stanley has a wealth management group for professional athletes and entertainers that provides financial advice. This helps sports stars whose careers often end when they are in their 30s, resulting in lower incomes while they’re also frequently targeted by fraudsters, according to a Nomura Institute of Capital Markets Research report published last year.
Oh, who won the Japan Series 11 times during his playing career with the Yomiuri Giants, holds the world home run record of 868. He now serves as an executive with the Fukuoka SoftBank Hawks.