Nikko Cordial Securities Inc. · Tokyo Japan

One of the top brokerages in Japan, Nikko Cordial Securities trades in equities, fixed-income products, and investment trusts for retail and institutional investors. The company has about ¥27 trillion ($300 billion) of assets under management in some 2,500 client accounts. Formerly part of Citigroup, which acquired the company in 2008, Nikko Cordial was sold to Sumitomo Mitsui Financial Group the following year for some $8.7 billion, including cash and debt considerations. The firm sold most of its stake in private equity investment subsidiary Nikko Antfactory for $140 million in 2008. The relatively small divestiture portended Citigroup's sale of non-core operations in Japan, including Nikko Cordial. To read the full description, subscribe now.

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