WEST PALM BEACH, Florida (HEDGECO.NET) – The President and CEO of Nikko Cordial Corp, Junichi Arimora and Takeshi Niinami, president and CEO of Lawson Inc. have agreed to explore the possibility offorming a comprehensive business alliance including a joint brokerage operation, as well as ATM services.
According to the released statement, the joint alliance would �enhance and fortify the operating bases of both companies�, enabling both firms to offer a greater access to investors in equity markets as well as to the expanding hedge fund asset management in the Asian region.
The asset management arm of Nikko Cordial Corp. has been stepping up its asset management endeavors geared towards offering hedge fund products to the growing Japanese institutional investor needs. In a recent press release, Nikko Asset Management also stated that it has formed an alliance with Tremont to offer new hedge fund products to the Japanese institutional and private investors. [Hedgeco.net previous story]
Expanding Nikko�s securities brokerage operations would undoubtedly compliment the company�s asset management obligations. The new proposed brokerage alliance with Lawson would utilize the Loppi multi media terminals, already installed in over 7,711 of Lawson�s outlets.
Roll out of services through Loppi multi media terminals is projected to go into effect during summer of 2004, while ATM installation is planned for spring 2004.
The two companies have pending arrangements to file �a joint business model patent application� for security brokerage operations based on this new agreement.
Nikko Cordial Securities has a nationwide network of 110 branches, and several offices in overseas locations.
Source: Paul Oranika
Editor-in-Chief
Hedgeco.Net
