KDDI, Daiwa Securities set up asset management firm

February 8, 2018

Tokyo- Major Japanese mobile phone carrier KDDI Corp. and major brokerage firm Daiwa Securities Group Inc. said Thursday they have jointly established an asset management company.

The new company, KDDI Asset Management Co., is capitalized at 2 billion yen, of which KDDI put up 66.6 percent and Daiwa the rest.

The company is set to start business in fiscal 2018, which begins in April, upon regulatory approval.

KDDI hopes to make financial operations as a new revenue source, while Daiwa Securities aims to secure young customers.

The new company will offer asset management services and products, such as the individual-type defined contribution pension plan, known as iDeCo, via a smartphone application.

Customers will be able to buy investment trust funds and other financial products and check their investment performances on their smartphones. Jiji Press