Daiwa Securities Group Inc. kicked off operations as a holding company Monday, placing four separate firms under its wing.
Members of the group, capitalized at 138.4 billion yen and with a staff of 400, include Daiwa Securities Co., which was reborn the same day as a brokerage firm specializing in stock brokering for individual investors in Japan. With capital of 100 billion yen and a payroll of 6,200, it will no longer deal with corporate clients.
Daiwa Securities SB Capital Markets Co. (Daiwa SBCM), another firm under the holding company, will focus on corporate customers for investment banking, derivatives and securitization business.
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