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Mizuho Securities eyes emerging Asia
Mizuho Securities Co., created Thursday through the merger of securities businesses affiliated with Japan’s second-largest bank by revenue, said it is seeking to open branches in emerging markets in Asia.
Mizuho Securities aims to establish offices in Seoul, Ho Chi Minh City, Taipei and Malaysia to offer broking services for Japanese and Asian companies, and to advise on mergers and acquisitions, CEO Keisuke Yokoo said at a media briefing Thursday.
Yokoo is looking abroad as the local securities industry consolidates, with Sumitomo Mitsui Financial Group Inc. acquiring Nikko Cordial Securities Inc. and Mitsubishi UFJ Financial Group Inc. combining its brokerage unit with Morgan Stanley’s Japanese operations.
“It’s getting extremely competitive in Japan, and the market is shrinking because of the declining birth rate and aging society,” Yokoo said. “It’s not that easy to compensate for.”
Mizuho Securities is also strengthening its existing operations in Hong Kong and Mumbai by assigning local people to lead their management, Yokoo said.
The company, whose biggest shareholder is Mizuho Financial Group Inc., was created through the merger of Mizuho Securities Co. and Shinko Securities Co.
thanhnien, bloomberg
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