Nomura Holdings said it will buy all of Lehman Brothers' franchises in the Asia-Pacific regions, including Japan and Australia, where the firm owns Grange Securities.Presumably Nomura won't be buying all, or any, of the trading books and credit risks of the Lehman businesses. In Australia these include contingent liabilities from cranky council and other government investors in structured securities that got AAA ratings, paid high returns and in many cases now have little capital value.Reuters reported Nomura will pay up to US$525 million for the assets.