Online brokerage Wit Capital Japan Inc., a unit of U.S.-based Wit SoundView Group Inc., said Wednesday it will entrust its retail brokerage services to a firm due to be created in March through the merger of e-Wing Securities Co. and Japan Online Securities Co.
Wit Capital said it will concentrate on investment banking after kabu.com Securities Co. takes over the management of its retail brokerage operations.
It said it plans to focus on initial public offerings for information technology startups. Wit Capital, founded by a group of U.S. investment banks, obtained a brokerage license from Japanese regulators in February.
It plans to commission kabu.com Securities to market the IPO shares it underwrites to individual investors.