Mizuho and Daiwa Securities, major Japanese financial institutions, are expected to launch independent securities operations in China. Bloomberg reports that they have cleared the final hurdle.
Mizuho Financial Group, a major Japanese bank, and Daiwa Securities are reported to be expected to launch independent securities operations in China. According to people familiar with the matter, the two companies are said to have cleared the final hurdle.
The move is attracting attention as an effort to expand their securities operations in the Chinese market. Regulatory preparations and organizational arrangements in China are expected to advance, and the companies are seen moving toward formalizing their local operations depending on the procedures ahead.
The source is reporting carried by Bloomberg, and Reuters has reported the same information. The article does not mention final approval or a specific schedule, but reports on the two companies' plans to launch independent securities businesses in the Chinese market.