Latest news with #HyakujushiBank
Yahoo
17-03-2025
- Business
- Yahoo
Japan's Nomura ties up with regional bank Hyakujushi to boost wealth business
By Anton Bridge TOKYO (Reuters) -Nomura Holdings, Japan's largest securities firm, said on Monday it has partnered with regional lender Hyakujushi Bank to boost its wealth management services. Hyakujushi Bank, based in Kagawa prefecture, will pass on some of its customer accounts, such as stock and bond investment trust accounts, to Nomura, which, in turn, will transfer staff to Hyakujushi and provide access to its financial platform, according to the statement from Nomura. Japan's financial institutions have sought to develop their asset and wealth management businesses to generate income from the mammoth savings held by Japanese households, of which around half is currently held in cash and deposits. For years authorities have called on savers to invest in higher-return financial products and now that inflation has returned to Japan to diminish the value of cash holdings, the shift away from cash has picked up speed. "Interest in asset formation is continuing to rise," Nomura CEO Kentaro Okuda said at a press briefing. "Every day I feel the role we must play and expectations of us are getting larger." Households in Kagawa have among the highest average savings rates of any prefecture in Japan, Nomura said in its release. Nomura and Hyakujushi will also discuss working together to advise customers on inheritance, business succession and public listings. This is the sixth alliance Nomura has established with a regional bank and Okuda left open the possibility of more such alliances. The announcement steps up the competition with online banking group SBI Holdings, which has also signed agreements with a series of regional banks. The tie-up is set to begin before March 2027 and the impact on each firm's earnings is currently unclear, Nomura said. Sign in to access your portfolio
Reuters
17-03-2025
- Business
- Reuters
Japan's Nomura ties up with regional bank Hyakujushi to boost wealth business
TOKYO, March 17 (Reuters) - Nomura Holdings (8604.T), opens new tab, Japan's largest securities firm, said on Monday it has partnered with regional lender Hyakujushi Bank (8386.T), opens new tab to boost its wealth management services. Hyakujushi Bank, based in Kagawa prefecture, will pass on some of its customer accounts, such as stock and bond investment trust accounts, to Nomura, which, in turn, will transfer staff to Hyakujushi and provide access to its financial platform, according to the statement from Nomura. Japan's financial institutions have sought to develop their asset and wealth management businesses to generate income from the mammoth savings held by Japanese households, of which around half is currently held in cash and deposits. For years authorities have called on savers to invest in higher-return financial products and now that inflation has returned to Japan to diminish the value of cash holdings, the shift away from cash has picked up speed. "Interest in asset formation is continuing to rise," Nomura CEO Kentaro Okuda said at a press briefing. "Every day I feel the role we must play and expectations of us are getting larger." Households in Kagawa have among the highest average savings rates of any prefecture in Japan, Nomura said in its release. Nomura and Hyakujushi will also discuss working together to advise customers on inheritance, business succession and public listings. This is the sixth alliance Nomura has established with a regional bank and Okuda left open the possibility of more such alliances. The announcement steps up the competition with online banking group SBI Holdings (8473.T), opens new tab, which has also signed agreements with a series of regional banks. The tie-up is set to begin before March 2027 and the impact on each firm's earnings is currently unclear, Nomura said.
