Daiwa Securities Group Inc. is seeking to buy stakes in Asian brokerages as Japan's second-biggest securities house resumes expansion in the region after an earlier effort faltered.
Teaming up with peers in Asia will help the company generate more business and income sources abroad, Chief Financial Officer Mikita Komatsu said in an interview in Tokyo. Daiwa executives will visit financial firms in at least six Southeast Asian nations and Hong Kong over the next five months to discuss opportunities including capital alliances, he said.
The plan contrasts with Daiwa's previous Asian expansion last decade, when it focused on hiring staff rather than investing in local securities firms, a move that proved costly and led to losses. A domestic stock market rebound over the past three years has fueled a return to profit, giving the company room to once again branch out in Asia to diversify revenue that mostly comes from domestic sources.
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