Yahoo Japan Corp. has agreed with Nikko Cordial Securities Inc. and E*Trade Securities Co. on a tieup to launch securities brokerage services as early as August, the two brokerages said Wednesday.
The leading Internet portal operator will serve as an intermediary between investors and the securities houses, enabling Internet users to open Nikko Cordial and E*Trade accounts via its Web site, they said.
The services are to start in August or September.
Yahoo Japan will also market financial products developed by the two partners to these individuals exclusively, they said.
E*Trade said it plans to offer a trust fund investing solely in shares in Yahoo Japan and other companies belonging to the Softbank group.
Nikko Cordial said investors can buy stocks, bonds and investment trusts from the portal site operated by Yahoo Japan.
Yahoo Japan's two major rival Web portal operators -- Rakuten Inc. and Livedoor Co. -- have already launched securities business by purchasing brokerages, but Yahoo Japan has opted for now to join hands with established brokers.
The move is seen as part of Yahoo Japan's effort to establish itself as a provider of comprehensive financial services.
Yahoo Japan, which has about 13 million registered users, has already begun offering credit card services by issuing its own cards. It also branched out into Internet banking through a tieup with Aozora Bank.