What is the relationship between Nomura Holdings and Nomura Securities in the context of the input sentence. Choose an answer from: product/material produced; manufacturer; distributed by; industry; position held; original broadcaster; owned by; founded by; distribution format; headquarters location; stock exchange; currency; parent organization; chief executive officer; director/manager; owner of; operator; member of; employer; chairperson; platform; subsidiary; legal form; publisher; developer; brand; business division; location of formation; creator.

He previously held senior roles at Nomura Securities Co, the brokerage unit of Nomura Holdings Inc. After he left Nomura, Saito served as CEO of the Industrial Revitalization Corporation of Japan, a now-defunct state-backed turnaround fund that invested in troubled companies.

Answer: subsidiary