Nikko Securities, Fujitsu to Form Online Brokerage in Japan
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Following Schwab's and DLJDirect's plunge into the Japanese brokerage market, Fujitsu Ltd. and The Nikko Securities Co., Ltd. Wednesday announced plans for an alliance that will include a joint venture Internet brokerage, dubbing the company-to-be Japan's first "introducing broker."
Both companies expect the combined service provided by the two well-known names will "thrive amidst the intensified competition of Japan's Big Bang financial deregulation."
The proposed name of the 50/50 joint venture is Internet Trading Securities. It is expected to launch in January.
The agreement will also involve Fujitsu's recently announced @nifty online network service. The site is expected to be rolled out by November. Details of how @nifty and Nikko subsidiary Nikko Beans will work together for the brokerage service were not released.