Japan’s largest investment bank said its wholly-owned subsidiary, Nomura Asset Management Co., Ltd., (NAM) has acquired 8 Securities Inc., and its Hong Kong-headquartered parent company 8 Limited.
Nomura Holding disclosed that the acquisition is through a through a third-party allotment.
Under the agreement, NAM will acquire ordinary shares issued by 8 Securities and 8 Limited. NAM plans to invest approximately 1.6 billion yen in 8 Securities and will hold a majority of the outstanding shares. The investment in 8 Limited will be approximately 1.1 billion yen, and NAM will become a minority shareholder.
NAM intends to make the respective investments in early April. Based in Japan, 8 Securities provides discretionary robo-advisory services through iOS and Android mobile apps using exchange-traded funds (ETFs). 8 Limited also provides mobile app robo-advisory and online brokerage services in Hong Kong, through local affiliate FinTech company 8 Securities Limited. By collaborating with the 8 Group, NAM aims to leverage the functions of the 8 Securities platform to deliver high value-added services to its clients. NAM also aims to provide these services to other financial institutions.
8 Securities is preparing to offer NAM index funds. NAM and 8 Securities will work together to develop the necessary app with the aim of launching the product from this fall. NAM will also pursue strategic collaboration with the 8 Group in FinTech areas in Asia. Leveraging 8 Group’s excellent mobile app development skills and NAM’s investment capabilities and product offerings, NAM intends to provide investment services not only to investors in the asset accumulation phase, but also to a wide range of clients including experienced investors.
In so doing, NAM aims to contribute to ongoing efforts in Japan to encourage a shift from savings to asset building. The impact on Nomura Holdings’ consolidated performance is expected to be minimal. Transaction structure Outline of 8 Securities Japan Trade Name 8 Securities Inc. Location 16-2, Nihonbashi 1-chome, Chuo-ku, Tokyo Representative Director Nobufumi Iimori, Representative Director, President Amount of Capital 1,173,010 thousand yen (including capital reserves) Date of Incorporation of the Company December, 2001 Major Shareholders and percentage of shares owned 8 Limited 100% Nomura Nomura is an Asia-headquartered financial services group w ith an integrated global netw ork spanning over 30 countries.
By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its four business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking), and Merchant Banking. Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients w ith creative solutions and considered thought leadership. For further information about Nomura, visit w ww.nomura.com.
8 Limited (Hong Kong) Nomura Asset Management 8 Securities Inc. (Japan) 8 Securities Limited (Hong Kong) Minority holding Majority holding
