Citigroup Global Markets Japan Inc. (シティグループ証券株式会社, Shitigurūpu Shōken Kabushiki-gaisha) is the division of Citigroup that operates in Japan. It provides investment banking services.
History
Nikko Cordial and Citigroup established a joint venture in Japan in 1999, later called Nikko Citigroup, which operated through a "branch office" in Naha, Japan under the trade name Nikko Salomon Smith Barney Securities (日興ソロモン・スミス・バーニー証券, Nikkō Soromon Sumisu Bānī Shōken).[citation needed]
In October 2007, after acquiring a 68% interest earlier in the year, Citigroup acquired the minority interests in Nikko Cordial.[1]
In September 2009, Citigroup sold Nikko Cordial to Sumitomo Mitsui Financial Group.[2][3]
The investment banking business remained as Citigroup Global Markets Japan.[4]
References
- ^ Dolan, David; Gibbs, Edwina (October 2, 2007). "Citigroup to buy rest of Nikko in $4.6 bln deal". Reuters.
- ^ Lagorio, Juan (September 30, 2009). "Citi closes sale of Nikko Cordial to SMFG". Reuters.
- ^ "Sumitomo Mitsui Banking Corporation's Acquisition of Nikko Cordial Securities Inc. as its Wholly-Owned Subsidiary, Commencement of Operation by Nikko Cordial Securities Inc. as Securities and Investment Banking Company, and Establishment of Business Cooperation between Both Companies" (Press release). Sumitomo Mitsui Financial Group. October 1, 2009.
- ^ "Citigroup Global Markets Japan Company Overview". Citigroup.
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