Nomura and Line sign MoU regarding joint venture
Nomura Holdings, Inc. and LINE Corporation today announced that they have signed a memorandum of understanding to explore a business alliance primarily aimed at providing securities services.
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As part of the planned alliance, the two companies will consider establishing a joint venture company to offer mobile and online first brokerage services and securities investment consultation services to LINE users. By leveraging the LINE platform, the joint venture will aim to help LINE users build up their assets.
The two companies plan to establish the joint venture by the end of May this year, subject to the execution of a final joint venture agreement and regulatory and Board approvals. The two companies will immediately disclose any relevant details regarding the joint venture and the alliance.
1. Background and purpose of the MOU Nomura is a leading financial services group with a strong global franchise. The firm’s mission is to contribute to an affluent society through its expertise in the capital markets. Nomura aims to become the most trusted partner for its clients.
LINE operates a communication application. Under its mission of Closing the Distance, LINE aims to seamlessly connect people, information and services, and businesses and brands through its smart portal business strategy. LINE provides high value-added services to over 73 million monthly active users in Japan.
LINE recently announced plans to expand into FinTech services in order to address the need for asset-building financial services among LINE users. The two companies plan to leverage the rich user base and the exceptional user interface and experience that LINE offers, combined with Nomura’s expertise in the financial business, to provide new financial solutions for this key target segment.