Nomura Asset Management partners with 8 Securities
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Nomura Asset Management partners with 8 Securities 05 April 2018Tokyo Reporter: Jenna Lomax
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Nomura Asset Management (NAM), a subsidiary of Nomura Holdings, has entered into an agreement 8 Securities and its Hong Kong-headquartered parent company 8 Limited to acquire shares through a third-party allotment.
NAM will acquire ordinary shares issued by 8 Securities and 8 Limited.
NAM plans to invest in 8 Securities and will hold a majority of the outstanding shares. NAM will become a minority shareholder.
Based in Japan, 8 Securities provides advisory services through iOS and Android mobile apps using exchange-traded funds.
8 Limited provides mobile app robo-advisory and online brokerage services in Hong Kong, through local affiliate financial technology firm, 8 Securities.
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 and 8 Securities will work together to develop the necessary app with the aim of launching the product from this Autumn.
NAM will also pursue strategic collaboration with the 8 Group in financial technology areas in Asia and aims to contribute to ongoing efforts in Japan to encourage a shift from savings to asset building.
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