Softbank Investment Corp., aiming to strengthen operations targeting institutional investors, acquired Nissho Iwai Securities Co. from trading house Nissho Iwai Corp. for 1.187 billion yen on Thursday.
The investment arm of the Softbank group said in a statement that Nissho Iwai Securities has numerous institutional investors as customers and has been offering them "value-added financial services" by utilizing the trading house's global network.
Softbank Investment acquired the entire stake in the brokerage, which had been wholly owned by the trading house, a unit of Nissho Iwai-Nichimen Holdings Corp.