Nikko Cordial
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| Type | Public K.K. (TYO: 8603) |
|---|---|
| Founded | 1944 |
| Headquarters | Tokyo, Japan |
| Key people | Masashi Kaneko, Chairman Junichi Arimura, President/CEO |
| Industry | Financial services (holding company) |
| Revenue | 49.3B JPY (FY 2004) |
| Employees | 180 (2006; does not include subsidiaries) |
| Website | www.nikko.co.jp |
Nikko Cordial Corporation (株式会社日興コーディアルグループ Kabushiki-gaisha Nikkō Kōdhiaru Gurūpu) (TYO: 8603, SGX: N06) is a third largest Japanese brokerage firm. It is one of the most scandal tainted firm in corporate Japan financial industry over alleged accounting irregularities. Nikko Cordial is owned by financial services giant Sumitomo Mitsui Financial Group. As of October 1, 2009, Sumitomo Mitsui Banking Corporation acquired all the shares in the renamed Nikko Cordial Securities Inc., which succeeded applicable operations from Citigroup. In May 2007, accounting fraud at Nikko Cordial cause potential delisting from Tokyo Stock Exchange. Citigroup came to rescue and acquired full control of Nikko Cordial completed in January 2008. However, Citigroup's ownership of Nikko Cordial was short-lived of fewer than 16 months. Nikko Cordial was sold to Sumitomo Mitsui Financial Group in May 2009 for $8.7 billion (representing $5 billion loss to Citigroup).
[edit] Nikko Cordial subsidiaries
- Monex - Retail securities firm
- Nikko antfactory - Asset management firm
- Nikko Asset Management - Asset management firm
- Nikko Citigroup - Joint venture with Citigroup involved in investment banking, trading and research.
- Nikko Cordial Securities - Retail and corporate securities firm
- Nikko Investor Relations - Wholesale securities firm
- Nikko Principal Finance - Merchant banking firm
- Nikko Principal Investments - Merchant banking firm
- Simplex Investment Advisors - Asset management firm
[edit] References
[edit] External links
- (English) Nikko Cordial Corporation
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