Nikko Securities, Fujitsu to Form Online Brokerage in Japan

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.

The partnership also calls for the formation of a separate joint venture
company to develop and manage a system for the financial services market.

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